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Earn a Bigger Salary without Changing Jobs

Wouldn’t it be great to earn more money? Hang on though, what if you are happy and settled in your current company and role? Would you rather remain there than go chasing other positions for the sake of a few bucks?

If you want to get a bigger salary but don’t want to change jobs then there are a few different ways of going about it. The following are a few of the best ones to think about trying out.

Ask for a Pay Rise

Your boss would never give you a pay rise, would he? Would he? Well, you never know until you ask. It might be that your boss has noticed the great job you do and the loyalty you have shown and is considering rewarding you better anyway. Of course, rather than just walking into his office and asking for more money you should be fully prepared in order to put forward a strong case for a better salary. One thing to definitely avoid here is comparing your own salary to that earned by your colleagues. If they earn more or less than you then that is something which is between them and the boss. Instead, you should show how your performance deserves a greater reward based on current market conditions or the benefits which you bring to the company. These points are easier to prove in some roles than in others but it is definitely always worth trying.

Find Out About Bonuses

I have a personal story which I can tell to help make this point. I worked in a bank in Spain at one point and some of my colleagues mentioned a bonus scheme. No one seemed all that interested in it and consequently they never earned more than a couple of hundred Euros in bonuses every quarter. One day I took the staff guide book home and went through it, working out a plan to earn big bonuses. I then bust a gut throughout the year, as I really needed the money at that point and I knew exactly how to get it. At the end of the year I got a bonus which was worth about a third of my annual salary and my colleagues nearly fainted in shock. Yet, they could have earned the same if they had put their minds to it. If your firm offers bonuses or commission of some type then it is worth finding out exactly what you need to do in order to earn as much as possible in this way. It might be easier than you think to regularly increase your earnings in this way.

Work Extra Hours

Working a few extra hours every week or so can be another wonderful way of picking up a heftier salary. The key here is in not sitting around and waiting to get offered the chance to do it. You should take the initiative, which is something you can do in a number of different ways. For example, you could mention to your boss that working some extra hours this week could help you get in more business or finish an important task earlier. Another idea could be to offer to help out one of your colleagues if you see that they are struggling.  It could be that there is some sort of urgent task needing done and no one has even thought about the possibility of getting you in to help out. By offering to do this you can earn extra cash and also show that you are a strong team player who sees the big picture.

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6 Responses to Earn a Bigger Salary without Changing Jobs

  1. Unfortunately we get incremental raises once a year and our pay structure doesn’t work where you can ask for a raise outside of the incremental raises and get it. But the other methods are definitely worthwhile!
    SuburbanFinance recently posted…Advantages of Suburban LivingMy Profile

    • Robert says:

      I have been in a job like that as well and it kind of reduced my motivation levels a little to not have a pay increase to shoot for

  2. In line with focusing on the big wins financially, getting a higher salary is one of the key action points and you hit the nail smack on the head with the outstanding advice.
    I’ve also greatly benefitted from a bonus sceheme, the key lies in understanding the scheme, coming up with a plan to achieve the set targets and working hard at it. More often than not the results are simply spectacular :)
    Simon @ Modest Money recently posted…Lending Club Review – Peer to Peer Lending Platform ReviewMy Profile

  3. When asking for a raise I would add that this should be done well before your annual review. Most reviews are in December and the budget for the next year is already set. By talking with your supervisor months ahead of time, there is more wiggle room and a greater chance of getting a raise.
    Jon @ MoneySmartGuides recently posted…How Tracking My Net Worth Saves Me MoneyMy Profile

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