5 Ways to Increase Pay Without Switching Jobs

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So you have a great job that you really enjoy. The problem is that you could use some extra cash or even a permanent increase in pay. What you need is a way to keep your current job, while at the same time earning more money. Here are 5 possibilities that might help.

Work more hours

If you are an hourly employee, one of the most obvious ways to increase the amount of your paycheck is to take on additional hours. If you’re a full-time employee, this also usually means overtime pay. Many employers compensate employees who are willing to work more than 40 hours per week by offering an increased rate of pay for those hours. Most often, it will be either time and a half or double time. Even a few overtime hours can make a huge difference in your paycheck.

Take on added responsibility

In today’s modern workplace, employers look for people who are able to multitask. If you are skilled in many areas that your company requires, you may be able to put those skills to work to increase your paycheck. This is especially true if your current position is not overly taxing or strenuous. You could talk to your employer about giving you additional work responsibilities for an increase in pay. One point in your favor is that by adding additional responsibilities to your current position, your employer does not have to hire an additional worker to take them on. Furthermore, asking for more responsibility in exchange for a fair increase in pay shows your employer that you have initiative and drive and can help you stick out if promotions or pay raises come up in the future.

Consider changing shifts

Many companies offer an incentive to employees willing to work second or third shift. Although the pay differential may not be a huge amount per hour, those cents add up. If your personal schedule allows, you might want to give another shift in your current position a try. Remember, when switching hours, that your body can take some time to get accustomed to the new routine. So give yourself time, and try not to overbook yourself during the transition period. Changing shifts can not only increase your pay, but can also allow you to get to know new and different co-workers as well.

Further your education

A willingness to continue your education is another good indicator to your employer that you are determined to be successful. You could take continuing education classes, or you could go back to school to get your degree. If you already have a bachelor’s degree, you could check out master’s degree programs to continue your education even further. Some companies offer education reimbursement, and some offer pay raise incentives to employees who are willing to advance their knowledge. Check with your employer to find out their policy on education and talk to them about any further education plans you have.

Work holidays

One of the most unpopular times to work is on a holiday. However, many families hold festivities before or after the actual days which might make you available to work. If this is the case, most companies offer higher pay rates to individuals willing to work on holidays. This extra money can be a great incentive to work. Family time is important, but if your schedule permits it, holidays are a great option for a little increase on your paycheck.

Everyone can use an influx of cash now and then, and employers want hard working, dedicated, self-motivated people to be a part of their teams. If you use any of these methods to increase your pay, then you and your employer both win.

 

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