5 Steps to Increasing Your Salary

Are you truly content with your salary? Only about 37% of people regularly negotiate their salary with their employers. Does this mean that everyone else is content with what they make? Most studies show that people are actually worried that they aren’t skilled enough, or they simply don’t want to deal with confrontation, to improve their salary. You can improve the amount of money you make in a number of ways, from negotiating to improving your skills, and more.

1. Negotiate

Image via Flickr by reynermedia

Negotiating your pay isn’t an easy prospect. It requires you to confront your superiors about why you think you should be making more than you are. However, this is the most direct way to improve your salary. If you feel confident and comfortable enough in your position, discuss the options you have with your manager. When negotiating, take as much as you can to the table, from the length of time you’ve worked for the company to your skills, and any projects you’ve been working on.

2. Advance Your Education

Another way to improve your situation is to get an advanced degree. For example, WSU’s online EMBA program offers an advanced degree that will quickly put you in a higher pay grade. Make sure that you focus your degree on the job you are currently doing or the one you wish to pursue. Getting an EMBA is perfect for those who want to move into management or executive positions, but probably isn’t helpful for those who want to stay where they are, but just want a bigger paycheck.

3. Time

While it may sound counter-productive, it’s important to remember that sometimes you simply have to be patient. Put in the time needed to increase your salary. The more time you are with a company, the more likely you are to get raises. In addition, many companies promote from within. This means that if you put in your time in a lower position, you may soon make it into management or a new position that pays better than what you’re making today.

4. Certification

If you are in a technical field, one of the best things you can do to improve your skills and your salary is to pursue certifications. This allows you to prove that you know your skills and improve your marketability. There are certifications available for several different fields. If you’re a programmer or network admin, for example, consider the Microsoft Technology Associates certifications or any of their more advanced certs.

5. Look Elsewhere

If it comes down to it, you may be better served by looking at other companies. This doesn’t mean you have to jump ship. However, it gives you better perspective. You may find a position that is better than what you currently have, or you may find that you have bargaining power when it comes to salary in your field.
There are a number of ways you can go about improving your salary. Prove yourself within the company, and show your superiors that you are worth the extra money in several different ways.