4 Ways to Boost Your Earning Potential

If you’re like nearly two-thirds of people, then you’re not satisfied with your wages. That’s an understandable concern in a person’s career, but what if you could do something to control your pay? Check out these things that you can do to increase your earning potential.

Go Back to School

If you’re really hoping for a promotion or a change of career in the near future, going back to school may be the key to boosting your pay. The Pew Research Center discovered several interesting facts about holding a degree. For one, their data showed that of the Millennial generation, individuals with a bachelor’s degree or higher are making $15,500 more per year than those with a two-year degree. However, an individual with a two-year degree is only making a mere $2,000 more per year than high school graduates. You can see these benefits come to you in terms of promotions or entirely new career paths.

If you decide to go back to school, consider pursuing an online degree. Since there’s more flexibility in when you can complete your coursework, you won’t have to quit your full-time job and give up part of your salary to finish your degree. With an increasing number of online master’s programs, such as a sports management degree online, even university graduates can increase their earning potential through online courses by getting an advanced degree.

Learn a New Language

Believe it or not, sticking with that high school Spanish class may have been a good idea. Statistics show that learning a foreign language can earn you an extra 2 percent per year. It may not seem like a lot, but Economist.com calculates that as a college grad, that’s an extra $67,000 in your career that you can put toward your retirement. Another estimate reported by U.S. News & World Report says that number could be as high as 10 to 15 percent more money, given that it opens you to so many new career options.

Boost Your Industry Knowledge

No matter what industry you’re in, things are constantly changing as technology advances. Do what it takes to learn new systems, and stay on top of industry trends to show your company how valuable you are. If you’re involved in social media, you have to learn about new platforms such as Pinterest. If you work in the forex industry, learn about a company like Netotrade.com to make sure you’re on top of industry trends. Value means a bigger paycheck. What can you do to prove that you’re valuable and on top of things?

  • Show enthusiasm for changes in the company
  • Attend conferences and industry events
  • Network with important people
  • Be the first to say “yes” to important challenges in your company

Ask for It

If you’ve been at your same job for years without a pay raise, remember that with years of experience usually comes higher pay, too. Don’t be afraid to ask to get paid what you’re worth. Keep details about your achievements in your career so that when you ask your boss for a raise, you have the data to prove that you’re worth the money.

Want to get paid what you’re worth? Start with the above-mentioned tips. What steps will you take to boost your salary?

One Response to 4 Ways to Boost Your Earning Potential

  1. Learning a new language is also brilliant for all kinds of income.

    I moved to France and worked there for the past 2 years and I now benefit both from:

    * the fact that I tutor others for between £20-£30 per hour
    * I will be performing some consultancy work back in France in January, where I can charge a high hourly fee because they need someone who can do the task, but also who speaks English and French (there aren’t many of us around)

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