Make More Money From Your Job


Leaving your employment and starting a business at some point in life is not a bad idea, but it also makes sense to make more money from your job while you have it. So, how do you boost your income without quitting and looking for better opportunities elsewhere? Here are four ways that have worked for other people.

1. Add Hours to Make More Money

This may not be a possibility for some, and will be irrelevant if you are paid a set weekly or monthly salary. But if you can work more hours, this is like giving yourself an instant raise. Take shifts from other employees if you can, come in early or stay late. I have had a number of jobs over the years where I could add 20% to my hours--and therefore my paycheck.

2. Work More-Highly-Paid Hours

This is another method that won't work for everyone, but it can be powerful when it does work. The basic idea is to work more of the hours that pay you a higher rate. Overtime is the obvious example, but some companies also pay higher hourly rates for holidays or weekends. Volunteer for more of those profitable shifts.

This suggestion is not the same as the first, since you do not necessarily need to work more hours to make more. Some jobs offer a higher degree of flexibility. If yours is one, take advantage of it. Instead of working 40 hours weekly, drop a shift one week and work an extra one the next. You still put in 80 hours in two weeks, but you get eight hours of overtime pay. Of course, if you work more hours and work better ones, you can really boost your income.

3. Get a Raise

Here's the most important tip for getting a raise: deserve it. If you don't yet deserve it, change that. Find ways to make yourself more valuable to your employer, establish that you are more valuable, and then make the pitch. As long as it make financial sense to your employer to keep you around versus hiring and training a new employee, you are likely to get that raise--at least by the second attempt. And you lose nothing for trying.

You see, the threat of quitting is inherent in every request for a raise. In fact, if you are truly underpaid, make it more than just a subtle possibility. Check out other jobs and perhaps even apply before you ask for that raise. You'll feel more comfortable about asking if you know you have other options out there, and that will show in your polite but firm assertion that you deserve a raise.

4. Use Your Job

When it appropriate and possible, use your workplace as market for any sideline business you start. I have known people who sell food and even leather boots to fellow employees, but most of the time you'll have to be content to hand out business cards or invite other workers to meet with you outside of work.

Some More Suggestions

To really make more money from your job, use as many of these four ways as you can to multiply the effects. For example, lets suppose you work in a factory for $12 per hour and normally get 36 hours in each week. You gross pay is $432 weekly, or $22,464 annually. Now let's suppose that make yourself indispensable and so get a raise to $13.50 per hour. Plus you come in early and stay late to bump your weekly hours up to 40. Then you add two extra overtime shifts (paid at time-and-a-half) per month, and three holiday shifts annually (paid at double-time). Now you're making $32,616 per year, a boost in income of over 45%.

Finally, one of the best ways to make more money from your job in the long run is to use it as training for starting your own business. After all, if you can't get what you want from your boss right now, you are free to let him train his competition--you.

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Every Way to Make Money | Make More Money From Your Job