Posted by on Feb 9, 2018 in Career Insights | 0 questions

Money isn’t the only thing that motivates a career choice for most people. However, it certainly is one of the more important factors. If you want a secure future for you and your family, then making money is how you guarantee it. If you’re not making what you want in your current position, the grass might look at lot greener on the other side. However, before you take the risky step of switching career tracks, as yourself if there’s anything you could do to get that extra cash you need.

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Learn what you’re worth and argue it

There is some chance that you’re not getting paid what you’re truly worth. This might be true if you’ve been in a position for years but you’re still making the “starting rate” or you’ve been promoted and got a pay raise, but perhaps not as much as the boss should have really offered. Learn what others in your position make and use it as a benchmark to negotiate with your employer. Of course, asking for more money with no other points isn’t always the best way to go about it. Make sure you have a pitch crafted, showing what you provide the business, ways in which you’ve excelled, and exactly why you should be given a raise. The figure can help serve as evidence of what you’re worth, but it is not enough alone.

See if anyone else is willing to pay it instead

If your employer isn’t willing to give you the raise you deserve (assuming you deserve it, of course) then there may very well be someone else who does. Perhaps even a competitor. Rather than switching careers entirely, you could be performing the exact same role you’re in now, but with a little more compensation if you’re willing to look at other potential employers. However, it’s a good idea to follow the advice set out at https://www.monster.com/career-advice/article/keep-your-job-search-secret. Don’t make the mistake of searching for new jobs at your current workplace, even on a break, and don’t talk to coworkers about it. Your boss could find out and that might not bode well for you.

Keep pushing yourself

If you want to make more money in your job, the most effective way to do it is to keep climbing as far as you are able and willing to climb. Don’t sit around waiting for a promotion. People who hope to get noticed aren’t going to. Why? Because their coworkers have learned to keep promoting themselves, catching the limelight. Rather than getting bitter about being passed over, make it very clear that you’re aiming to progress, to take on new responsibilities, and become a more integral part of the business. Claim credit verbally when you do something well. When a position opens up, let your boss formally know you’re interested. Initiative gets rewarded, passivity doesn’t.

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Do what you do, but for yourself

The skills you’ve learned in the business might not be as specific to the role you play within it as you initially thought. Take a closer look at what skills you’ve learned. From bookkeeping to design, writing copy to admin work, there is a freelance marketing on the internet for lots and lots of skills. Sites like https://99designs.com/ make it a lot easier for you to start selling your skills for no-one’s benefit but your own and your clients’. You may not find yourself working often enough to make a career out of it (though more and more people are). But, you could get paid more for the same work you’re doing now since you’re getting all the income, not just a share of it.

Share what you know

If you are an experienced professional, then your brain may be more valuable than you give it credit for. A lot of promising new entries to the industry could be looking for advice on how they break into it. This ranges from learning the applicable skills necessary to the practical advice on how to succeed. Sites like https://www.udemy.com/teaching/ give anyone the chance to create a course that allows others to learn much more cheaply than paying for a college education. Once you craft your course, you start getting paid when people use it. You might even find that your course is fast becoming one of the most popular ones in its field and you could go on to make another to get yet another income stream.

Keep more of your money

You might not be getting as much of your money as you should. Or rather, you might not be able to hold onto it. We’re not just talking about budgeting to live under your means, so you can save more and contribute to more important goals. Taxes could be taking more of your money than you think. Start taking a closer look at deductions you could be making and think about using professionals like http://www.curchin.com/solutions/tax-services/. Beyond ensuring that you’re compliant, a tax accountant could help you keep a lot more of your money in the long-term.

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Get passive

Sometimes, passivity does pay. Not when it comes to your job or your career. Instead, we’re talking about passive income streams. Through investing and making better use of your assets, you could find a lot of opportunities to get your money making more money for you. Getting involved in peer-to-peer lending, crowdfunded real estate, and even some automated trading could mean significant returns in future. However, you can also use assets like your home by renting out storage space if not a room. You might even think of starting a blog, before using affiliate content, sponsored links, and ads to monetize it. There are a lot of passive income streams, so learn which applies best to you. Don’t just rely on one method of income.

In the end, how you decide to make more money is up to you. It’s just worth being aware of the fact that there are real options out there besides having to give up a job you might otherwise love.