One of the easiest ways to earn a higher pay is by becoming very good at what you do. PHOTO | FILE
By PERMINUS WAINAINA
Would you like to earn more money this year? Do you
think you are fairly compensated for your output? We are always looking
to earn more, so the answer is probably a big yes.
In this article, I will highlight some of the steps you can
take to earn a higher pay. You can implement some and start seeing
results right away, but some may take a bit of time.
Some involve becoming very good at your job such
that others can’t ignore you and thus ensuring you get promoted and
salary increments or going back to school for further training.
Another step is by deciding to take additional
duties. If all else fails or doesn’t work with current employer then
looking elsewhere is another winning strategy.
1. Determine your value in the job market
Before we discuss on what you need to do to earn a higher pay, have you considered your value in the job market?
As a product in the market there’s a price for what
you have to offer. And the price is dependent on many factors. For
example, years of experience and skills gained in that period.
A fresh graduate does not have a lot in bargaining
power compared to someone with five years experience. It will also
depend on how saturated your profession is.
If you are in a profession that has a lot of
people, there’s stiff competition for jobs and this makes an employer
have an upper hand.
A good example is administration, accounting,
customer service, journalism and sometimes the sales profession. There
are so many candidates chasing the few opportunities and employers take
advantage by paying poorly.
The easiest way to find out how much people with
your skills and education earn is to refer to job adverts. If you don’t
earn a salary equivalent to someone of your level then you need to
identify the reasons.
Is it because you lack certain skills? Do you need
to take a short course? Is it because you are working for a small
organisation that does not have the resources? If it’s because of the
organisation, then it’s as simple as changing jobs.
However, if it’s a matter of qualification and
experience you need to realise that it will take you time and resources
to get the skills and only then will you be ready to earn more.
2. Your job is to be awesome
One of the easiest ways to earn a higher pay is by
becoming very good at what you do. Look at the roles listed on your job
description and identify the most important.
After this, evaluate your level of competence. In
essence ask yourself whether you are good at your job. Identify areas
that you are struggling with.
Changing employers will not help if you are not good at what
you do or if you face a similar job description. It might be easy for
you to sell yourself in an interview but can you realistically deliver
on the job?
And excelling at your job requires you to
specialise and only handle those tasks that you are good at. An example
is that of a finance and administration manager struggling with the
latter function.
As long as management is not happy with what they
are doing in administration, there’s a lesser probability the individual
will be considered for a salary raise or a promotion.
The logical step is to ask them to hire someone to
do admin duties and you concentrate on what you are good at. You can
only shine at what you excel.
In business it’s results that tell. I have met
candidates who are highly qualified but underpaid. On the other hand I
am sure you know candidates with no papers/certificates to show but are
earning seemingly well.
The difference is with the level of skills and
experience. Employers and candidates alike are in the market place and
looking for specific things.
And sometimes there’s a misunderstanding. Employers
are interested with hiring someone who can get the job done well the
first time and at an affordable cost.
And they will pay a premium regardless of your age,
education and skills if you can demonstrate value beyond what is
expected of you.
That is why I insist on professionals learning as
much skills as possible. With enough skills and experience you will be
at a position to negotiate for a better package.
3. Job hopping: It’s not as bad as you think
Sometimes staying in one place can work against
you. That’s why I recommend changing jobs after every three years. If
your current organisation is big enough, there should be room for growth
and in three years you should be in a different grade.
However, if it’s a small organisation, three years
should be the maximum time you give to the company. By the third year
you should be ready to make a move.
Apart from the usual problem of familiarity where
the employer thinks you don’t have much else to offer or you getting
comfortable, staying in one place for long will only make potential
employers wonder why others haven’t identified your great potential.
It’s also easy to lose track of what’s current in the job market and therefore rendering your skills obsolete
In some sectors like banking, it’s normal for someone to quit,
join a competitor and come back after two years with three times the
pay. Job hopping has its advantages more so when done strategically.
There you have it. You can earn a higher pay this year.
Start by being very good at what you do as no sane employer can afford
to lose a staff who adds value.
If you are missing on some skills then going back
to class is an option you need to consider. You also need to focus on
learning on the job and not getting more and more certificates.
Lastly, if you are not appreciated where you are then it’s time to start looking. I wish you a healthy bank balance this year.
Wainaina is the managing partner & head of recruitment at Corporate Staffing Services.
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