For most people, having a primary job is their main income stream. But the sad truth is, many people don’t do what they really need to do to make their job pay. There is so much money that people leave on the table when it comes to their jobs, and if you’re looking to maximize your income, that needs to stop.
Here are some simple tactics that you can look into today to make your job pay more.
Vacation and Sick Leave
Most people get vacation and sick leave at their workplace. However, it is estimated that only 57% of employees use all of their paid vacation each year. That’s sad, and it also amounts to taking a pay cut.
If your employer offers you 2 weeks of paid vacation per year, that means that your salary is based on 50 weeks of work, not 52 weeks of work. Or, in other terms, not taking your two week vacation is the equivalent of taking a 4% pay cut. Get 3 weeks? That’s a 6% pay cut… Do you see where I’m going with this?
If you want to get more from your job, STOP working and enjoy your paid vacations. It’s part of your compensation.
Many employers offer their employees a myriad of other perks that aren’t necessarily paid compensation, but definitely make the job pay better. For example, most employers offer discounts on gym memberships, day care, cell phone service, and more. I’m a big believer that you should go through your monthly expenses and see what perks and discounts you can get because of your employer.
Saving money each month adds to your bottom line, so saving a little here and there really adds up.
Making Your Job Pay Before You Start
Most people don’t think about the fact that your starting salary and compensation package are what will determine your compensation for years to come. As such, it is incredibly important that you maximize your pay and compensation when doing salary negotiations. Most employers will have a range they want to offer you when you start – and they always start at the bottom of the range.
Simply asking for more money will typically get you a bump without even breaking a sweat. Now, make sure that you don’t put a sour taste in your potential employer’s mouth before you even start work, but it is pretty commonplace to ask for a higher starting base when accepting a new position. Give it a shot.
Making Your Job Pay If You Want To Leave
If you want to leave your job, you can still make your job work for you and help you get paid. A big way to start is networking. 7 out of 10 people found a six-figure job by networking with people they knew in their industry. So, if you’re considering a move, start building strong relationships with your peers at similar companies.
Maybe you can go to conferences and conventions to meet people in your niche, or start following blogs in your niche to see what’s out there.
Second, you should look and see if your company offers any type of severance packages. A great eBook on this is How to Engineer Your Layoff. If you are thinking of quitting, there is no reason not to consider getting paid for it.
What other tips do you have on making your job pay?