6 Amazing Ways to Boost Your Earning Potential | Top Universities

6 Amazing Ways to Boost Your Earning Potential

By Laura Bridgestock

Updated February 7, 2017 Updated February 7, 2017

Sponsored by the University of Birmingham

Keen to increase your earning potential? If so, now could be the time to reinvent yourself. No matter where you are professionally, with the right training and strategy, there’s absolutely no reason why you can’t move up the corporate ladder. So, start making great connections. Consider relocating or changing sectors. And invest in your future by pursuing additional skills and qualifications.

1. Change careers.

Identify fast-growing industries, desirable skills and in-demand professions. Which sectors are growing fastest, and have strongest long-term prospects? If your role is a dead-end and your industry on the way out, then perhaps consider changing career.

Aside from the potential salary boost and greater security in future, this is also an opportunity to develop previously untapped abilities and talents. Perhaps you’re keen to make a positive difference in the sphere of public policy, or challenge yourself with a role in international business or business management.

2. Take on extra projects.

There’s no shortcut to success! If you want to move up, you need to put in the extra work. Take the initiative in your current role: ask for additional projects and responsibilities. Show how much you’re capable of. Build your expertise by reading specialized publications, and keep up with the trends shaping your sector.

Can you think of any processes in your company that could be streamlined for greater efficiency? Got an intelligent and creative suggestion to improve workplace productivity and revenue? Share your ideas, and demonstrate that you are a hardworking and motivated team player.

You may also consider taking an online degree, as an additional way to acquire the industry insight, specialized skillset and expertise that will move you up a level.

3. Network.

This can’t be stressed enough – building a network of professionals, both within and outside of your company, will come in useful throughout your career. Personal connections are one of the best ways to get insider knowledge about job opportunities, as well as helping you stay up to date with the latest developments in your sector.

Online degrees are also a great way to build connections internationally, giving you access to a wide network of people whose career paths intersect with your own. They’ll also be able to offer local insights about your sector, which could come in handy if you decide to…

4. …Relocate.

Geographical location is a huge factor when it comes to income. Cities with the highest salaries, according to an article by Forbes, include Zurich, where the net pay is equivalent to US$23 per hour, closely followed by Geneva (US$20), and New York (US$19). If you are living in a city with low growth and a lagging economy, then consider relocating to a city where your earning prospects are higher and career development prospects look strong.

5. Negotiate your salary.

When you are offered a job, or when your contract comes up for renewal, don’t be afraid to negotiate your salary. Research equivalent salaries on sites such as PayScale and GlassDoor, and decide on an ‘expected salary’ that you are comfortable with.

Don’t hesitate to ask the HR manager whether there will be any salary reviews or flexibility in the terms of your offer. If the benefit and salary package fails to meet your expectations, say so and explain how your experience, qualifications and skillset deserve a better deal.

6. Level up with an online degree.

If you are looking to change careers or gain in-demand skills to boost your income, completing a flexible online degree around your working hours could help you get the training and credentials necessary to succeed in the field of your choice, without neglecting your other commitments. Indeed, far from distracting from your current role, an online degree has the potential to enrich your work – providing insights and skills that you can start applying straight away. At the same time, you’ll be establishing strong professional connections worldwide, opening up new avenues in terms of both location and specialization.

Online degrees at the University of Birmingham

The UK’s University of Birmingham, ranked among the world’s top 100 universities in the QS World University Rankings® 2016-2017, offers a range of flexible postgraduate degrees that can be completed online. As an online student, you’ll have access to a wealth of resources, industry connections and cutting-edge tools, designed to prepare you for your chosen career-climb or -change.

To find out more, check out the University of Birmingham’s Online MBAOnline Masters of Public Administration and Online MSc International Business course descriptions.

This article was originally published in October 2016 . It was last updated in February 2017

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