Career: Pay Rise, Job Security and How to Earn more Money

Career Objectives – Earn More and Save More

It is an excellent idea to check occasionally to determine where your career is currently and where it is heading. If you are unclear as to how the compensation you are receiving compares to the industry in general, take time to do some investigating.

If you are receiving what should be expected for your current job description and it is not enough for your lifestyle, you may need to consider some career alternatives or options to increase your income.

Career Choices for Increased Income

I have for many years always had multiple sources of income. Most of you probably, like me, have a full time career job. This gives you security and usually benefits that have a dollar value associated with them such as insurance, retirement, etc.

A sideline freelance job can be a great way to subsidize your income and help you with money savings. By freelancing, you can structure your work schedule around your full time career occupation and work extra when it is convenient for you.

An added benefit of having a second job is in case something happens that you should lose your full time job. It is hopeful this does not happen, but if it does, you’ll have a backup to depend on until you find a new job.

You don’t want to spend every single moment of your life working, however. You need time for rest, for your family, and for other activities besides just work. Overwork leads to stress and in turn health problems.

Career Planning – Ace the Interview

If you are unhappy with your income and are not able to do anything toward saving money because of it, think about making changes that will afford you the ability to demand more in salary. People change jobs all the time in search of better benefits and increased salary.

Keep up with the job market and new openings. Also keep your resume up to date so you can apply to positions that come open. Brush up on your interview skills if you have not had one in a while. Use some of these tips to help:

• Visit the company’s website and learn what they do and other information specific to their business
• Brush up on interview skills by visiting help sites online to help you prepare
• Have a question or two for the interviewer to show you have interest in the position
• Dress appropriate and show up early, NEVER late
• Be prepared to describe your skills and how you can contribute to their company

Career Advancement – Further Your Education

Consider furthering your education, even if you do it only part time. Many times an advanced degree or a special licence or certificate can make the difference in qualifying for a certain position, promotion, or increase in salary.

Sometimes your current employer is even willing to pay a part or all of the tuition to help you advance your skills and in turn be of more value to the company.

PAY RISE: How & When To Ask for It

If you’re looking for ways to increase your savings then you need to look at your money cycle more closely. Analyse your earnings and the time you spend at your job. See if you are saving every spare dollar. If not, it might be a good time to think about a pay rise and devise a plan on how to ask for it.

If you are trying really hard to save money, but struggle to even put one dollar aside each week then it’s time to ask for a pay rise, or learn to better manage your money. In truth, most employees should be entitled to a yearly pay rise. The cost of living goes up all the time. Therefore we should also match our income to stay abreast of our finances.

Ways to Ask for a Raise

This may not be as easy as it sounds. First you will need to check whether your employer is paying you what you are worth. There are far too many people who are working jobs with a lot more responsibilities than they are paid for – or even acknowledged. Waiters that are in charge of restaurants, or people who are handling all the online communications in an office but are paid for a lot less are some examples of workplace abuse and what I call modern slavery.

Before you storm into the boss’ office you need to check if you are getting paid what you deserve. You can do that by making an inquiry with your industry’s union. If the answer is “no,” read the following pointers to learn how you can ask for a salary boost.

Look out for Performance Reviews

People generally don’t like the annual self-promotion but it is quite likely that you might be working for a firm that adheres to the HR policy. It is necessary to self-promote yourself, you need to put your ego aside for this. Think of it as a system and you are a part of it.

Annual performance reviews are usually circulated before the wages review. So take it seriously and bring along all appropriate documents that highlight your performance and achievements. Don’t be shy to shine because no one else is.

Another tip is to evaluate yourself according to your company’s quality control measures. Match it with your boss’s evaluation and express your future goals and plans. After the interview, a committee will review your performance and decide whether you’re worth the investment.

Be Aware of Your Job Description

Job descriptions are there for a reason. When the company wrote it, they definitely set aside some goals for that job position. This makes your job really easy. You need to read your job description to understand what is expected of you, all of it. Highlight the company goals described to help you manage expectations.

Make a checklist, and see how many goals you have scored. Highlight your achievements and prepare yourself for the unavoidable conversation during your performance review. Use the job description, its goals and your achievements to date as your secret weapon during the interview. No one can deny achievements that can be physically measured.

The Art of Negotiation

It is highly recommended that you read a good book about the skills of negotiation. Please do not take negotiating as a negative or rude activity. It is proof of your confidence and what you believe in. Things don’t always go as smooth as planned. When you’re having an interview with your boss about a pay raise you will most likely have to negotiate.

Be polite at all costs. Don’t use threats or fly off the handle. This can cost you your job. But do feel free to mention your interest in another company (if you have any). If your boss refuses to raise your pay by saying that the company doesn’t have that many funds, you can always request a renegotiation after three months, or you can offer to work less hours with the same pay check.

JOB SECURITY: How To Keep Yourself Secured

No one wants to admit that they are expendable within the company that they work for. But for the majority of us, this is an unfortunate reality. With the economy still down and the unemployment rate remaining high, those of us who still have our jobs need to find out how to increase our job security. We also need to prepare for the worst, which we can do by making sure our finances are well managed.

With the state of the economy remaining unstable, it has not been a nice time to be out of a job. Even for those of us with jobs, it is proving to be more difficult. Cuts are being made across every sector, in each department. It makes having even an ounce of job security very difficult.

People who still have their jobs may be finding themselves working harder to make up for employees who had been laid off. Alternatively, you may face pay cuts, which will have an effect on your finances.

How Do I Increase My Job Security?

Sadly, there is no formula to increasing job security. There is no magical list of things that you can do to make yourself safe from employee downsizing or to protect yourself from pay cuts.

But there are a few things you could try at your work place to increase your job security.

• With the number of jobs being cut, a lot of businesses are doing a lot of shifting in their workforces. Employees might get moved around, departments might get merged together. Sometimes, this creates new opportunities within the company – maybe it might be for a higher position within your department. Go ahead and apply for it. If the pay is higher, even if there are salary cuts, your finances won’t have to suffer as much.
• If you normally keep your head down at work, try participating more. Giving more input and sharing your ideas will make you more of an asset to your employers.

Looking For New Jobs After A Lay-off

Job lay-offs are not easy to deal with. It’s very easy to blame yourself rather than see it as an effect of the global economy.

It is also difficult to know how to deal with your finances after experiencing job loss. The best security to have for yourself is savings. Setting money aside while you are employed is a good idea, just in case the worst happens. This way you will be able to pay your bills and afford food while you’re looking for a new job.

And despite the difficult situation the economy is in, there are always new jobs available. You just have to look in the right place, and eventually, the perfect job will come along.

Make sure your resume is up to date and ready to be sent to potential employers. Also make sure you know what you want. Don’t just apply to everything, as this will end up wasting a lot of your time and the employer’s time if you get called for interviews for positions that you know you won’t end up taking.

Dealing with job loss and questioning your job security are things that we have to face, especially at this time. But with hard work and patience, you will be able to keep your existing job or find a new job – the stress will be worth it in the end.

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