Are you feeling as though you have not gotten your fair share of raises at work? Many people believe that this is because of unfair practices at their place of employment. Sometimes, it looks as though you’ve been passed over for that promotion because of nepotism and other times you believe your employer is simply trying to reduce the payroll. However, what you should understand is that even after having been treated unfairly on the job, you are still responsible for what you earn in life. It’s up to you to boost your annual income and here are three ways to do this.
1. Check out the Competition
If you have risen in your place of employment to what is considered a ceiling level, there may be nothing you can do but graciously accept the annual cost of living raise if it is available. What you might want to do is send your resumé to the competition. Unless you are under contract with a stipulation that says you can’t work for the competition, this is a great way to bring your talents forward to an employer who appreciates what you can do. As part of the negotiating process, check out the Salary Site to see what high earners are getting in your field. You’d be amazed at the range of salaries for any given career.
2. Further Your Career through Education
If you want to climb the ranks, one of the surest ways is to qualify for higher level jobs by advancing your education. Although entry-level jobs only require a certificate or bachelor’s degree, why not move up the ladder with a master’s or doctorate degree? Even continuing education, seminars, and mini-courses can show initiative, and you may be rewarded at your place of employment. Don’t forget to take courses that focus on technological advances within your industry, which will immediately become a selling point to your employer. Understanding how to grow a business through the effective use of technology is hot on the hiring criteria of almost every employer across the board.
3. Pick up the Slack
The final surefire way to boost your annual income is the pick up the slack at your job. If another teammate falls down on the job, figuratively speaking, you can step up to the plate. Volunteer as often as possible for those tasks no one else wants to accept and give more than what is required on the job. One man (who wishes to remain anonymous) with a 20+ year career at Boeing in Renton, Washington, said that always work ‘above meets.’ You will undoubtedly have an annual review in which you hope to be scored a minimum grade of “Meets Expectations.” You should shoot for “Above Meets”; he went on to say that if your boss requires 80% attention on the job, go the extra mile and give 100% of your focus.
Of course, you can always go into business for yourself, but it would probably take a long time to realize more income than you now do. Most businesses don’t see profits until at least the second year, but to subsidize your current income, it would be a great place to start. Keep working while you build your business and if everything goes according to plan, you could be a self-employed entrepreneur with a wage much higher than your current salary. See for yourself just how effective these suggestions can be if you want to boost your annual income.