By far the most common complaints amongst employees are the wages they earn and the lack of career opportunities in their jobs.
Whether you’re just starting in your career or have been working for many years, there’s nothing worse than being stuck in a dead-end job where the pay doesn’t equate to the amount of effort you put in.
Most people realize, when it comes to their careers, they have to start at the bottom and work their way up. However, finding yourself stuck in a job at the same pay grade can be both demoralizing and demotivating – often resulting in a vicious circle where you lose enthusiasm for your work, making promotion even less likely.
Thankfully, there are numerous tried and tested ways you can improve your earning potential. Just making some simple changes or career-defining decisions can dramatically improve your earning potential.
Improve your earning potential through education
Most people realize the qualifications they attain through life will affect the wages they’ll earn, however, you might be surprised to learn just how much of a difference they make. On average, the wages you’ll earn with a high-school education are just over half those you could earn with a degree. Not only that – graduates are also far more employable.
Choosing to return to education after you’ve started work simply isn’t an option for many workers but there are a growing number of online internet-only courses which you can study in your free time. For example, Merrimack Pathway Bachelor Degree Completion is done start to finish online, allowing employees to structure their work, life, family and social commitments around their study.
In today’s cut-throat world of employment, there is a direct correlation between earning and learning. Furthering your vocational skills through education is one of the most successful ways to progress up the career ladder quickly.
Raise your profile at work
One of the most common reasons people get passed over for a promotion is through not making an impact on the decision-makers and bosses above them. Make it clear to your employer that you have career ambitions and are eager to progress in your role in the company. Also, try to make sure others don’t (inadvertently or otherwise) take credit for your work. Your superiors are far more likely to consider you for promotion if they’re aware of the good work you do and the positive impact you make on the company.
Ask for a raise
It might seem obvious but unless an employer is aware you’re unhappy at your current pay grade, they’re unlikely to consider offering you a raise. The majority of business owners aim to keep overheads to a minimum and increase their Return on Investment (ROI) – so unless you specifically ask for a raise, they likely won’t think to offer you one.
Many people are nervous asking for an increase in wages, however, a recent study by PayScale found that 70% of the 160,000 employees they interviewed were successful in gaining more money, simply by asking.
Think about changing jobs
Very often, people plump for the easy route and stay in a dissatisfying or unrewarding job purely through habit or a fear of the unknown. If you recognize there are no advancement opportunities with your current employer, take a look around at other companies to see if they might offer a better career structure. Moving to a bigger, more organized company can often see you leapfrogging your peers.
Remember to also negotiate your pay before joining a new company. It’s estimated that around 52% of first offers are lower than the rate an employer is actually willing to pay. Be prepared to haggle to get the rate you want.
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