How to Stretch Your Earning Potential in 2016

Whether you’re looking for a brand new job in a brand new industry, or considering tertiary study to “up” your skillset, there are plenty of less drastic ways to increase your earning potential. It’s time to start setting goals for the year and make a plan on how you will accomplish your goals, and to reach most of those goals we need to be earning more money! We have created this list of tips on how to stretch your earnings potential this year.

  • Take on additional responsibilities. Make sure you’re capable of more work first, then either request being in charge of a specific responsibility or just let your boss know you’re comfortable with your workload and would love to take on another task if they have something in mind.
  • Become an expert in a particular aspect of the business that currently has a knowledge gap. Whether it’s a specific software, an alternative method, or simply being the only one who knows how to change the ink on the printers, you will be indispensable and first person they think of when opportunities arise for that skill.
  • Ask for a raise. Make sure you qualify for one and think about what you offer the company, not what the company should be offering you. Establish a strong argument on why you deserve one and be confident in delivering your reasons.
  • Use your initiative. Instead of asking your boss for a to-do list, create your own with suggestions and deadlines. This will show you’re proactive, an invaluable skill that all bosses look for, and increase your chances of being put forward for a raise or a promotion.
  • Consider switching fields of work. There may be another position you could look into that matches your skill set but offers better pay.
  • Look out for vital mistakes that other people have missed. Doing so will show you’re in tune with the operations of the company, and you understand the importance of the operations working properly.
  • Find better ways of measuring your skills. For example if you know you’re touch typing speed is fast, do an online typing speed test. That way you can market yourself as having a certain WPM (words per minute) instead of just saying you’re competent at touch typing.
  • Donate your time. Volunteering to work extra shifts, cover other colleagues shifts or even unpaid overtime won’t go unnoticed! It shows you’re willing to invest your time for the better of the business and is an easy way to market your loyalty.
  • Grow professionally. For example, research shows learning another language can increase your earnings potential by approximately 2% per year. Take a Photoshop course in your spare time, do some homework on Google AdWords, or register for seminars or online Webinars to further your knowledge.
  • Search for opportunities with your own company first. It’s easier for you, easier for your employers and will also show your ability to grow within a company to future employers looking at your resume.
  • Don’t let your career hold you back from your own interests. Community work, hobbies and sports are all valuable ways to market yourself and network with potential employer connections. It’s important to have a life outside of the office, because having a balanced work and personal life will help make work more enjoyable.

Disclaimer: The above information is general in nature and not intended to be financial advice. You should consider seeking professional advice before following any suggestions in this blog/website.

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