Ways to Boost Your Salary

Shop the Competition

Salaries in the real world vary a great deal from company to company, and some employers may pay considerably less than the industry average. The financial website Monevator advises employees to shop employment ads from competing companies to find out what those organizations pay for similar positions. If they pay more, that information could prove useful in salary negotiations. If a particular employer does not negotiate or if raises are on hold in that firm, applying to the competitor for a job could lead to a salary boost for a prospective employee.

Continue Your Education

Employers place a high value on employees who demonstrate skill and knowledge within the position, so getting a degree or diploma can quickly build job credentials. The human resources website Salary.com states that "years of experience" and "education" are the top two factors that can boost a salary. The federal Bureau of Labor and Statistics (BLS) states that, as of 2010, employees with a bachelor’s degree earned, on average, $16,952 more each year than employees with no college education. Employees with a master’s degree, in comparison, earned $12,168 more than those with four-year degrees, or $29,120 per year more than those with no college education. Check to see if your employer offers tuition assistance for employees taking classes relevant to their positions, or if you can expect a raise if you complete a relevant degree program.

Do the Work

In an office environment, a manager relies on her employees to help accomplish her department’s objectives. Those who demonstrate a solid understanding of the company’s mission and a devotion to bringing the company’s leaders’ visions to life may receive a salary boost during regularly scheduled reviews. Those who go above and beyond in getting the work done may also find themselves on the fast path to a higher salary and maybe even a promotion. The Monevator website advises employees that getting the boss’s work done is a top priority, and explains that employees who perform all job duties, even seemingly menial ones, may receive heartier raises.

Ask for a Raise

The key to a higher salary, according to the finance website Get Rich Slowly, is to negotiate for a raise. Before asking for a raise, though, an employee should establish himself as an indispensable asset with updated and relevant skills. Employees should also conduct research on competitors’ salaries for similar positions and ask for improvement opportunities before requesting a raise. To increase the chances of a salary boost during raise negotiations, employees should also make themselves as visible as possible, as high visibility will increase the chances that a senior organizational leader will approve the raise.