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How To Start Earning More Money Without Having To Change Your Career

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How To Start Earning More Money Without Having To Change Your Career

Are you looking to upgrade your benefits or compensation? One thing that everyone is taught to believe is that the only way you could earn more money is when you change your career. While this might be true in some cases, changing jobs is very stressful and is a potential detraction for long-term wealth. Changing job can also downgrade your overall track record of tenure, and you’ll have difficulty in solidifying a network that could support you if your skills are no longer in demand. Click Here To Go Straight To Our Online Tutorial

Furthermore, changing jobs could also mean you’ll miss out on the opportunities for professional development that comes with the mastery of a particular role. While it’s highly advisable that you are aware of the current hiring trends in your career and know your worth, there are several other opportunities out there that can actually enhance your earning potential and increase your benefits without the need to change jobs.

Below are some of the most overlooked opportunities when it comes to getting ahead without changing careers:

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Consider taking on a greater workload

The unemployment rate is low, hiring new employees is tough, and training takes up a lot of time. If you’re capable of doing more for your team without having to add more headcount, then that will surely add measurable value to the company.

Build a strong network in the industry

You can help by identifying some top candidates to consider for internal hiring. As mentioned, hiring is not easy nowadays, and internal referrals are more profitable and efficient. There are some companies that would be willing to offer referral bonuses for internal hiring. If your company is not one of them, consider suggesting this to your HR and get paid by referring potential employees who may be qualified to take up certain roles.

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Have customers who love you

You can come up with a strategy to ask for referrals. In a survey done by the Texas Tech University, it was found that 83% of happy customers would be willing to offer a referral. However, only 29% of them ended up giving one. But you can ask more frequently. You don’t really need to be in sales just to get referrals. All you need is to propose to your team an incentive that can help keep you interested.

Train yourself

Ongoing professional development and education are not only good for you but also good for your company. After training, employees return to their roles with better skills and a more motivated mindset. If you’ve got your eye out on development opportunities, check with your company if they are willing to pay for these. The increase in knowledge could also lead to an increase in pay. As such, you’ll get a double win on this one.

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Get certifications

If you’re doing well in your profession, consider acquiring external certifications that can help validate your mastery of a particular field. Having a certification will be a competitive advantage for you, as it shows your commitment to the profession. The certification also helps to enhance the brand image of your employer. Just like training, if you’re going to ask your company, they might be willing to shoulder the cost of your certification.

Trade up your tech

Do you think a new smartphone, tablet, or laptop can help you become more productive at work? Jot down all the potential benefits of having an upgraded tech device and propose it to your company. Employees who are tech-savvy often end up being more efficient in their field and can serve as role models for the rest of the employees who are lacking the digital dexterity. Your boss probably has no idea on the latest trends in software and productivity solutions. If your numbers make sense to him, then you’ll surely get a big yes.

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Ask for flexibility

If you’re one of the most valued employees and have a good performance track record, you will most likely earn the trust needed for flexibility. Although some companies are very explicit when it comes to remote work policies, many of them are not so rigidly defined, especially small and mid-size firms. Of course, not all tasks can be done at home. However, if flexibility can help increase your job satisfaction and lessen the cost and the stress brought about by trying to get all things done on a tight schedule, then this is definitely worth considering.

Inquire about expenses

Are you spending a lot of time commuting or paying for your monthly gym membership? Corporate benefits these days are constantly evolving depending on the options available and the things needed to make the company more competitive. Your company may have the option to purchase mass transit passes for the employees or pay for the gym at a corporate discount. Even if this is not an option, they might be willing to take out these expenses before tax, which saves you some tax rates.

Being the CEO of your career, you should be advocating for things that could strengthen your motivation and satisfaction. Talented and productive employees who are happy with their jobs are great for the business. A good manager understands this equation very well, however, they might be too preoccupied to think of more ways to stoke their employees. Indeed, the old adage is true – “if you will not ask, then you will not get it.”

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Are You Sabotaging Your Chances of Getting a Promotion?

So, are you ready to advance in your profession? Perhaps, you want a new role, new responsibilities, or a promotion. Maybe you want more rewards and more authority. You have already proven yourself in your field, and its now time to take the next step in your professional journey.

Yet, the only problem is that you seem stuck in your current carrier.

So you have tried and tried, yet nothing comes to fruition just yet. But you know in your heart that you are ready to take the leap.

So why are you still being overlooked?

Here are some ways on how you could be unintentionally sabotaging your chances of getting a promotion.

You’ve Been Applying for ALL Possible Opportunities

If you are ready for promotion, it might feel like it’s an urgent matter. So you want that opportunity, and you badly need it now. This could create anxiety that could push you to make bad and impulsive decisions along the way.

Blanketing your resume around the organization is one of the most common forms of self-sabotaging. Instead of taking the time to look for the right advancement opportunity, a lot of people simply opt for quantity instead of quality. They believe that the more positions they apply for, the better the odds are. Unfortunately, this could actually backfire.

If you aren’t discerning in your approach, you will end up looking desperate. You should position yourself as someone who’s ambitious and eager, but not overly so. You shouldn’t just make any move – you want to make the right move not only for yourself but for the entire organization as well.

Also, when people start seeing your name on the list of candidates many times over, they may start to wonder why you haven’t been successful with your previous attempts. They could discount your application at the thought that there must be some reasons why you haven’t gotten any promotion.

To prevent this, you must be thoughtful about the positions that you plan to apply for. Make sure that you’re a good fit for the job and that it matches well with your career objectives. Be very wise with your choices even if that means taking more time before the right thing comes along.

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You Vocally Complain When Passed Over

Always remember that promotions are a privilege. There are probably instances when you have been passed over even if you believe that you are the perfect fit for the job. You just really don’t know what goes into the decision-making process. It might appear on paper that you are the right fit for the job, but that’s not really a guarantee. There are so many factors that would come into play, and you don’t need to know what all these are.

In case you’re denied a promotion, try to avoid complaining about it vocally. A lot of times, employees can’t avoid sharing their frustrations with everyone else. They even end up blaming favoritism and office politics and express their disbelief and shock about the candidate that was chosen instead of them. To those who are listening, this will come off as being “self-righteous.”

You may not be aware, but many people are watching you behind your back, and they will observe how you respond to career setbacks. Your behaviors and words speak volumes about your character, and this will have an impact on your reputation and prevent you from getting more opportunities in the future. If you learn to demonstrate professionalism during disappointment, people will start respecting you. As such, you’ll end up in a much better place to get an easy promotion in the future.

You Don’t Ask for Feedback

Finally, a lot of people tend to sabotage their chances of getting a promotion by not attempting to have an open dialogue with the management. This would require hurrying up your own personal career goals and ask advice on how you can be successful in your role in the company. It also means asking for support from your manager and finding out what you should do to earn support from her or him in the future.

If and when you’re passed over for promotion, ask for feedback from your manager and listen to the feedback intently. While you may feel that you’re ready to take this next step in your career, your managers might think differently. Staying in blissful ignorance may be more comfortable. However, this will not take you anywhere.

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How to Figure Out What You’re Really Worth

Even though they have the upper hand in the process of hiring, most individuals fail to negotiate the best possible deal for their career, and there are reasons behind this. People don’t really know what their worth is in the marketplace.

So how can you figure out your worth? And more specifically, how do you actually receive it? Would you be competing for offers from one another or choose for equity instead of salary? Or do you need to negotiate more vacation leaves?

I have discussed with several companies and candidates over the years and here are the tips that I received when it comes to securing a job and getting a compensation package that reflects your experience and skills in a competitive marketplace.

Do Your Research

In the hiring market, the value is often defined by a combination of skills, experience, and market demand. To get what you truly deserve, you should know the price you can put in each of these pieces.
If you know what someone in your role is actually earning, then you will know if you are being low-balled. You also have the facts handy that could back up your justification that you should actually be earning more.

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Be Transparent

It’s necessary to be upfront with your goals during the hiring process. You probably have heard about the age-old advice of not mentioning a number until the very end and definitely not before the company gives its number first. However, I believe such advice is just outdated.
If you are honest regarding your salary goals, then you could avoid any difficult negotiations and disappointments along the way. Going through a very extensive process of interview is truly time-consuming and will only drain up your energy and prevent you from getting new opportunities.

 

Negotiate Like a Pro

So you want the job, but the salary is just not what you’re expecting. If you’ve got multiple job offers, consider leveraging one offer against each other and let your first choice know that they are not really your first choice and that option B came in at $20,000 higher.

On the other hand, if you don’t have any other offers and the job meets your other needs, including an opportunity to grow, think really hard what’s most important to you. Is the HR dept. Willing to boost your benefits package? Will the company allow you to work from home? Do they offer a signing bonus, or will they add one extra week for vacation? Explore all your options before you decide to walk away.

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Conclusion

Determining your worth is a truly daunting task and even more so when you push for it when the company comes at you with a low offer. However, you should always remember that you’re worth it. Consider the amount of time that you dedicate to your job. Make sure that it’s a time well spent. Confirming and negotiating your worth in your company will not only lead to your success, but to the company’s success as well.