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How To Earn More Without Switching Jobs

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Considering the state of the employment market in recent years, being in the position to pick from two jobs is what might be called a ‘nice problem.’ The choice to switch jobs or stay put is a bit of a problem as decisions like that have lasting career repercussions… or benefits.

Incentives to Switch Jobs

There are a few questions you should ask yourself as you weigh up the advantages and disadvantages of making such a move.

1. Am I Accepting a Good Job or Just Running Away From a Bad One?

When the economy was at a low, many workers may have felt stuck in jobs they did not like but are now in the position to look at other options. Some are jumping ship without so much as an afterthought.

That’s a mistake. Before switching companies, you should make an informed decision about what appeals to you in the new job and not what you don’t like the current one. The main idea is to find a job that gets you excited.

2. What are You Getting Yourself into?

Receiving a new job offer is flattering, but employers know how to accentuate the positives when trying to recruit. You might end up with a reality check. The grass may be greener on the other side but do your homework.

3. Is the Salary Commensurate With My Abilities?

Don’t compare what you are getting paid with what you will be getting paid. You might be underpaid at the moment, so the salary isn’t the most accurate benchmark. There are websites on which you can research the going rate for your skills, experience, and position.

4. What Does the Whole Salary Package Look Like?

Yes, your take-home pay matters – a lot. Don’t just focus on that one element. What are the other offered benefits? Retirement savings plan? Bonus opportunity? Other allowances? They can all boost the base rate considerably. What about vacation time, the commute distance and the possibility of working from home at times? Great for work balance and job happiness.

5. What are the Growth Opportunities?

Does your company support professional development? Mentoring, training, tuition reimbursement and being able to attend industry conferences help to keep you moving forward professionally. When you compare your current company against a potential employer, think strategically about more than salary.

6. Is Fear Driving Your Decision?

While it’s unwise to change jobs impulsively, it’s wrong to allow fear to hold you back from jumping into the unknown. Staying in your comfort square is playing not to lose. There will always be a degree of risk when changing jobs. If you have done your homework, and it feels ‘right,’ trust your intuition.

Staying Put

Changing jobs to get paid more is a quick fix, and as shown above, it’s not that straightforward a decision. There are plenty of opportunities to get ahead in your current job if you can be a little creative, and opportunistic as well. Here are some tips:

1. Take on a Bigger Workload

There is always more work than there are employees and time to do it. Recruiting and training are expensive. Offer to do more and accept both the kudos and the extra money.

2. Refer Potential Employees

‘Better the devil you know, than the devil you don’t know.’ That’s a very true saying, and while that might be a form of nepotism in some cases (for example boss hiring family), it’s also a great solution for your company. They save on recruiting and get somebody who you have referred to as being able to do the job. Win-win. Make sure you get the referral bonus.

3. Customer Love

Do your customers love you. Are the wonderful service you give them enough to provide a positive feedback and build your customer base? That’s something that will make the management happy. Devise a referral bonus payment scheme, as they are common enough in most companies.

4. Professional Development

You will be better trained and motivated after some industry education. Ask for reimbursement of tuition fees if you complete external training.

5. More Qualifications

As well as looking great on your CV, additional certification is good for your company. It shows your commitment and enhances the employer’s standing within an industry when they have formally qualified staff. Again, ask for tuition reimbursement.

6. Utilise New Technology

Man with a smart watch Tech advances are coming onto the market at a fast rate, and you need to keep up to date with technology that helps make you more productive. Outline the benefits of a tech upgrade to your manager. It’s more than likely he will agree.

7. Job Flexibility

While not every job can allow remotely working many do encourage working from home. If you are a valued employee with an excellent work ethic and excellent past performance record, a request to occasionally work from home will give you more work satisfaction as well as minimize commuting costs.

8. Paid Expenses

Commuting costs, gym membership, education, motor vehicle running expenses, and even health insurance are areas where a company can help with costs or have schemes in place that provide additional benefits to staff for them to remain competitive.

Good employees are a real positive benefit to companies and most of the time they will do whatever they can to retain a worker. There is no harm in asking for any of the above, and you have more chance of getting a ‘yes’ on these than by asking for a pay rise.

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