How to Maximize Your Career Earnings!

You are probably looking for a new career in part because you feel underpaid, right?

That feeling of not being paid for what we feel we are worth and how hard we work sucks!

Companies and/or managers have a tendency to nickel and dime us on yearly raises, which is frustrating. 

However, there is someone else to blame for you being underpaid...

Y.O.U.! Yes, you. 

Think about it for a moment. When you accepted your current career did you negotiate your salary or did you simply accept what they were offering you?

No need to explain yourself as we all have been in a place where we are just happy to be offered the job and do not want to risk the offer being pulled because we ask for more money. 

However, if you do not maximize your starting salary when you start your new career you will find it difficult to get a significant increase once you're an employee whether that is 1 or 10 years later.

Instead, if you do some basic research, talk to people in the industry and utilize your network you can confidently ask for what you are worth and NOT leave tens of thousands of dollars on the table!

You owe it to yourself to ask for what you want and feel you deserve!

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Learn How to Ask For What You Deserve! 

Talking about money with employers can be scary, but do not let your fears hurt your earning potential!

We all have probably been told or heard that 'You should never talk about money' as such a discussion can lead to arguments, jealousy and hurt feelings. 

However, the one time you should always discuss money is when being hired!

If you choose to accept the initial offer from the company you are hurting yourself in the following ways:

  • Your first raise at that organization will be based off of your 1st year salary, which raises are typically 3 to 5%. Will you really be happy with a 5% raise above what you are making in your 1st year? 
  • The couple hundred if not thousands of dollars you are sacrificing now end up being a much larger figure  30 years from now factoring in annual raises from the starting salary and the extra money you could have had to invest in either a 401K or the Stock Market. Ever hear of compounding interest? 
  • When you decide to move onto your next career that next employer will attempt to base their salary offer off of your current salary. So wouldn't you want your salary to be as high as possible so you can leverage it for the next time you're offered a job?
  • The excess money you are leaving on the table could also be used to fund your life and what you truly love to do whether that is travel, cars, houses, education funds for kids, etc. 

So you're probably saying, 'That's all well and good Charles, but I don't want to jeopardize the offer so I would rather just take what I can get!'

Trust me, I have been where you are where you are just happy as hell to have been offered a job!

But you can still be happy as hell while maximizing your earning potential.

Here is a strategic approach to negotiating and maximizing the offer:

  • First, use sites like Indeed, Glassdoor and LinkedIn to see what the typical ranges of salary are for the career you are interested in. 
  • Second, once you have an idea for the salary ranges reach out to people in your network and confirm those ranges with them. Keep in mind the people's salary may vary from the ranges based on their vast knowledge and expertise in that field. 
  • Third, with the salary ranges in mind and believing with confidence where you fall in the range based on your experience you should build a case with the recruiter and hiring manager where you should be compensated in that slalary range.

By taking a strategic approach you ensure a couple of things:

  • You do not waste time pursuing career opportunities that will not compensate you at the level you want or expect to be.
  • Properly align your salary expectations by understanding what your experience in this career is compared to others.
  • Set expectations and demonstrate your value/worth to the potential employer.
  • Reduce the risk of being in that awkward conversation AFTER interviewing with the recruiter/manager saying to you, 'Oh, that is way too high of a salary. We would never pay someone that amount!'

Stop letting employers dictate to you and control your earning potential.

Allowing employers to dictate your earning potential not only hurts your immediate earning potential, but also your future earning potential and even more importantly impacts your disposable income to have fun outside of work and thrive in this lifetime!

Learn How to Maximize Your Future Earning Potential!