Money Bags: Increase Your Earning Potential

It’s a sad fact of life that there are few of us out there that would continue to work as the same position if money was no object. In fact, while job satisfaction is important for a lot of folks, its the wage that they earn that they find the most motivating. But what can you do when you need to increase that income? Keep reading to find out.

Career change

The first thing that you can consider doing to boost your earning potential is to make a career change. Of course, this is a big deal and shouldn’t be taken lightly. It’s not always easy to switch from one job lane to another. Especially if the skill that you need aren’t very similar. But it can be done.

If earning potential is your biggest motivating factor be sure that the role that you are choosing to change to will fulfill this. For example, you might pick a professional career such as education, medicine, or management that will provide better job prospects and annual wages.

Or you may decide you want to be the boss and set up your own business. You may, even choose something that offers performance related pay. Such as sales, where you will get the opportunity to be rewarded for your success and hard work in tangible terms.

money bags

peter-facebook / Pixabay

Career development

However being on a mission to expand your earning potential, doesn’t necessary mean that you have to change your career field at all. Instead, you can choose to progress within your given specialization, taking on more responsibility and moving higher up the structure.

Just remember that you will need to apply yourself to do this. Not only will you need to be competent in your current role, but you will also need show that you are qualified and able to do the role that you are hoping to get. One way of doing this to follow a formal education program in your field which will teach you the knowledge and  skills you will need to progress up the ranks.

Formal education programs come in all shape and sizes and run across most professional fields. For example, you can do a certificate in sales theory from as little as three hours, all the way up to a Ph.D. in educational leadership from Maryville University. Which will take a minimum of three years!  

But which ever course you pick, ensure that it will have a measurable benefit for you in term of the wage increase.

Side hustles

Lastly, you might need to increase your earning potential, but aren’t at the stage to change or progress in the role that you are in? Then you can always consider a side hustle.

This is where you pick something else to do in your spare time. Preferably something that you have an interest in and use that to generate more income.

You can choose creative pursuits such as drawing, painting or furniture making. Or you can even get some well paying and easy jobs online in the form of website testing and survey completion. That you can do in the comfort of your own home.


Arnel Ariate is the webmaster of Money Soldiers.

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