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Most people feel they should be earning more for their work – in many cases, this is correct, and your employer is undervaluing your services. You don’t have to wait if you feel you should be earning more or valued more highly. You can speak to your employer about a pay raise. If they refuse, not all is lost; they will still be aware that you are not entirely satisfied. This is a good sign; it shows initiative and ambition. Don’t feel that you are stuck either; always look for ways to improve your professional skill set and meet your potential.
Ask For A Raise
Most people don’t ask for a raise; instead, they wait for their company to offer them one or think they need to earn a promotion. This is not the case, and the value you bring to your company should be acknowledged over time. According to a survey, 70% of those who asked for a raise received their money – if they can get away with it, most companies will opt to pay less.
If you’ve been at a company for some time and are still on the same money, you might consider asking for a raise instead of changing your job. Don’t treat the request as a casual conversation; it’s not! Prepare for it the way you might prepare for an interview. Do some background work and know the concrete ways you bring value to the company with the work you do. Also, know the stakes; your services will always be appreciated somewhere else.
Gain New Qualifications
While learning new skills can be very advantageous to your career prospects, gaining proper accredited qualifications, like some of the best electrical engineering programs, will immediately increase your pay grade and make you more appealing to employers. Employers love candidates with qualifications because it shows they are committed, educated to a high standard, and willing to use their abilities in their company’s service. Learn new skills for the job, but don’t underestimate the value of investing in a recognized qualification.
Consider Changing Career
If your request for a pay raise is refused or you feel like your skills and experience deserve some higher compensation, then it might be time to look for another employer. It’s normal for someone who has been in a role for some time to get steady pay raises, and if this is not the case, you should consider moving for the sake of your career and your net worth.
There are some best practices to keep in mind when switching your career. One is to maintain discretion; you don’t necessarily want your present employer to know you’re looking around elsewhere. While it may not ultimately matter, it could make things awkward. Next, don’t jump at the first offer you receive; you are not in a desperate position, and can probably hold out for better pay and conditions – always negotiate.
Raise Your Profile
Most companies have a list, either formal or informal, of earmarked people for career progression within the company. It’s important that you’re on that list if you want a higher position or more pay. Ensure that you communicate your desire to go far with the company and take every opportunity to invest your time and energy in other areas of the business – not just your role.
You can raise your professional profile on LinkedIn where you can get involved in industry-related conversations and network with relevant people. Attend industry events and talk to people in the company that you wouldn’t meet day-to-day; this all contributes to the impression you make on individuals in the company and will help you when it comes to interviewing for a higher position.
Learn New Skills
These days developing new skills is easy using online platforms; new skills can improve your performance in the job, allow you to pitch in with other departments, improve your profile, and raise your value to the company – as well as your earning potential. If you are the ambitious sort, you don’t have to wait around for opportunities to arise within your role; use your initiative to get ahead.
If you work for an international company, you could consider learning another language. This will immediately make you more valuable to the company and increase your potential. Most companies have a technical department that could benefit from someone with practical coding skills or IT infrastructure knowledge. These are all skills you can learn online by yourself; they don’t cost much in terms of time and money, but can significantly enhance your career.
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