5 Ways to Earn More Money in Your Current Job

Introduction

Do you feel like you are not being paid enough money to meet all or most of your needs? If you do, you are not alone. Among the various building principles of Economics, is the insatiability of human wants. Earning a particular amount of money as monthly salary can initially be perceived as sufficient by some individuals. After a while, that particular amount becomes insufficient, undesirable and boring. This is because they have earned it for too long and the resources (salary) is no longer enough to meet their unlimited need. Truth is, it is only natural and ordinary for our wants to insatiable.

Therefore in making things better than its current state, one would have to devise new ways to increase the resources he or she has in order to meet at least a larger proportion of the unlimited want.

This is however different as it relates to monthly remuneration in Nigeria. When an individual salary remains static over a long period of time, it’s only natural for his needs to grow past the salary sooner or later. However, while some firms may increase their employee’s salary to meet the ‘new’ needs caused by the country’s standard of living, some other employers may pay deaf ears and act blindly to the economic hardship of the country.

However, there are other ways through which you can earn more money than you currently earn as salary. These are the five ways to earn more in your current job;

1. Ask for a Raise

Asking for a raise is the fastest and easiest way to earn more money from your current job. It will interest you to know that many individuals have never negotiated a raise of their salary despite having been at their job for so many years. Truth is, you don’t have to wait until your boss offers you more money, because that time may never come. Be prepared and show them your specific achievements since you started working with them.

Negotiating a salary raise appropriately can be done by researching comparable salaries based on the industrial salary average and then giving your boss a specific amount. It should be on the high end of the range so you have room to negotiate, but not unrealistic.

The worst that can happen is that they say no. If they do say no, ask them for the specific goals needed for you to qualify for a raise.

We have put together some strategies on how to effectively approach your boss for a raise.

2. Ask for Promotion

Some individuals think that getting a promotion is a randomly spontaneous event that is completely out of their reach. But this is not true. In fact, you are able to influence your being promoted just as equally as your company is able to. And of course, with every promotion that comes is a proportionate salary increase which thus contributes to your goal of earning more money from your current job.

If there is an opening for promotion in your firm, be prepared to show you are qualified for it with your CV and specific accomplishments as it pertains to the new role. For example, if your job has a new senior-level opening that you believe you are qualified for, highlight your accomplishments and send in your CV to show that you are qualified. If you have a track record of quality at your organization, and if you have a good relationship with people in your organization, you could just get that promotion and the proportionate increase in income. At least. Trying is better. Remember you lose 100% of shots not taken.

If it’s a case where there is no specific opening, show your ambition and loyalty to the company by creating a new role and present it to your boss. If you succeed, you might just be in charge of that role or project. That way, you have the potential to earn more money soon.

3. Acquire a New Skill

Always look for ways to improve your set of skills or learn new ones. Truth is, most of the fellows who really earn so much in some organizations are those with unconventional ‘technical-know-how’. Individuals with skills that make them indispensable. For example, if you observe that there is a need in your firm that needs to be satisfied, you can acquire the skill to meet the need. It is better than letting your company go out to employ another individual to come sort it out. Since that problem or need can’t be easily solved, tendencies are he or she will earn more when they come.

So rather than sit and wait, acquire that skill and be the one they will pay so high to satisfy the need thereby making you indispensable.  This will definitely increase your earnings with time.

4. Take up Professional Certification

Some of the ways you can earn more money is getting more certificates in that field of yours. Or even getting additional certification as time and situation warrants. Some Nigerian employers don’t care what you do or tactic you use. If you are not more academically qualify than your current position requirement, you might not get promoted or a salary raise. For example, a Graduate Assistant in a University may never be promoted to an Assistant Lecturer position without acquiring a master’s degree. And more and more is being required as time goes on for promotion.

So if you want more money, simply get more certificates in forms or degrees, diploma and professional courses. This can in form of an evening or part-time class, online graduate course, industry webinars, or additional training.

5. Take up Part-Time Jobs/Businesses

If other methods above fail, this is perhaps the only way that will not. This is because making more money from this solely lies on you, unlike others which are subject to your employer. Various part-time jobs exist, and it depends on the nature of your current job, schedule, and skills you have acquired in it.

• You may consider opening your own business in order to find additional income during the weekends
• Work as a freelancer of consultants with the skills used in your current job
• Launch an online resource (Books, Video, Blogging, and etc.)

Conclusion

As seen above, one can easily conclude that the only reason an individual may not make more money in his or her current job is simply by doing nothing. Steps to take and things to do always abound. All you need is simply a greater desire to get more resources (money) than the weight of your unlimited wants. Everyone has unlimited want, your own case should not be different. Earn more today!

See also How to Answer the Salary Question: Nigerian Perspective