How to Increase Your Salary for Your Next Job in 10 Steps

Are you feeling stuck in a cycle of living paycheck to paycheck, while others seem to easily climb the salary ladder? Wondering what their secret is? You’re not alone in seeking financial growth and stability. In today’s competitive job market, increasing your salary often requires more than just hard work and dedication.

It requires a strategic approach that includes professional development, negotiation skills, understanding market trends, and sometimes, a leap into new job roles or industries. It’s about recognizing your worth, investing in your skills, and knowing when to make bold moves.


In this post, we’ll uncover ten effective strategies to boost your salary. This isn’t a get- rich-quick scheme but about sustainable growth, empowering you to take control of your career and financial future. Whether you’re new to the professional world, negotiating a raise, or considering a career pivot, you’ll find valuable insights here.

How to Increase Your Salary

  1. Improve Your Skills: Upskilling is crucial in today’s fast-paced job market. With shifts due to technology, economic changes, and evolving business models, acquiring new and relevant skills ensures you remain an attractive candidate and can increase your earning potential.
    • Digital Literacy: Essential with the rise of remote work and digital
      platforms.
    • Data Analysis: Vital as businesses rely more on data-driven decisions.
    • Soft Skills: Emotional intelligence, critical thinking, and communication
      are highly sought after.
    • Adaptability: A valuable trait in a dynamic job market.

    Online courses, webinars, and workshops are widely available to help you develop
    these competencies. Websites like Coursera and LinkedIn Learning offer a variety of
    relevant courses.

  2. Get Certified Professional certifications: Validate your skills and set you apart.
    They show employers your commitment and expertise, often leading to higher
    salary potential. Notable certifications include:

     

    • Certified Professional in Learning and Performance (CPLP)
    • PRINCE2 Practitioner

    Certification can require time and money, but the investment can significantly boost your
    earning potential. It varies based on industry and job title of course.

  3. Negotiate Your Current Salary: Mastering the art of negotiation is key to getting
    paid what you deserve. Here are tips for effective salary negotiation:

     

    • Do Your Research: Understand the average salary range for your role.
    • Highlight Your Accomplishments: Showcase your achievements and value
      to the company.
    • Practice Active Listening: Address concerns effectively.
    • Be Prepared to Walk Away: Consider other opportunities if the offer isn’t
      suitable.
    • Follow-Up: Ensure you revisit salary discussions after performance
      reviews.
  4. Seek a Promotion: Promotions often come with higher salaries and more
    responsibilities. Here’s how to position yourself for one:

     

    • Demonstrate Initiative: Take on tasks proactively.
    • Expand Your Skill Set: Upskill and get certified.
    • Show Leadership: Lead by example.
    • Communicate Your Aspirations: Discuss career goals with your superiors.
  5. Change Your Job or Industry: Sometimes, the quickest way to a higher salary is
    by changing jobs or industries. Job hopping or moving to a higher-paying industry
    can result in significant salary increases. Here’s how to navigate this:

     

    • Do Your Research: Understand the job market and in-demand skills.
    • Network: Connect with professionals in your desired field.
    • Highlight Transferable Skills: Show how your current skills benefit a new
      role.
  6. Network: Building a strong professional network can lead to job opportunities and
    higher salaries. Effective networking involves:

     

    • Offering Value: Think about how you can help others.
    • Attending Industry Events: Meet professionals at conferences and
      seminars.
    • Leveraging Social Media: Engage on platforms like LinkedIn.
    • Following Up: Maintain relationships after initial meetings.
  7. Become a Freelancer or Consultant: Freelancing or consulting offers the
    flexibility to set your rates and work on varied projects. Key considerations
    include:
    • Evaluating Your Skills: Ensure you have in-demand skills.
    • Setting Your Rates: Research market rates for your services.
    • Marketing Yourself: Build a strong online presence.
    • Networking: Connect with potential clients.
  8. Keep Up with Market Trends: Staying informed about industry trends and salary
    scales can give you a competitive edge. Here’s how:

     

    • Follow Industry News: Read publications and blogs.
    • Attend Webinars and Conferences: Learn about the latest trends.
    • Join Professional Networks: Gain insights from other professionals.
  9. Get a Mentor: A mentor can provide guidance and insights to help you grow your
    career. To find a mentor:

     

    • Identify Potential Mentors: Look for experienced professionals in your
      field.
    • Reach Out: Send a polite message expressing your interest in their
      guidance.
    • Build a Relationship: Be respectful of their time and open to feedback.
    • Join Mentorship Programs: Many organizations offer programs that match you with mentors.
  10. Get Educated: Further education can lead to higher-paying roles. Consider your
    career goals and the potential return on investment. Here’s how:

     

    • Identify Your Goals: Determine what you want to achieve.
    • Research Programs: Look for relevant advanced degrees or certifications.
    • Consider Online Learning: Explore platforms like Coursera or Udemy.
    • Seek Employer Support: Ask about tuition reimbursement or development
      programs.

Wrapping It Up

Increasing your salary involves a strategic approach and dedication. From improving your skills and getting certified to negotiating your salary and pursuing further education, these methods are stepping stones to achieving your financial goals. Whether you’re advancing in your current industry or pivoting to a new one, these strategies can help
you grow your career and income sustainably.

FAQ

Consistently improving your skills, seeking certifications, negotiating your salary, and pursuing further education are top strategies for increasing your salary.

Gather evidence of your accomplishments and value, schedule a meeting with your manager, and present your case professionally.
Networking can lead to job opportunities, industry insights, and connections that can advance your career and salary.

Changing jobs can lead to
higher salaries, especially when moving to higher-level roles or more lucrative
industries. Balance this with the benefits of staying longer at one company.

Certifications in tech (cybersecurity, cloud computing), finance (CFA, CPA), and education (Master’s in Education) can boost your earning potential.
Yes, online networking can be equally effective and allows you to connect beyond your geographical location. Platforms like LinkedIn and Twitter are valuable for building professional networks.

Need help navigating Your Job Search?

Let's talk and see how we can assist you

Free Resume Guidebook

Download your free Guidebook

Resume Guidebook + Template

The guidebook truly helped me understand how to tell my story effectively within my resume, instantly allowing me to generate traction on my applications.

Tatiana Ross​

Senior Vice President BNY Mellon​