We can talk about cutting expenses or improving your budgeting until we’re blue in the face – but if your income isn’t keeping up with your bills and living costs, the advice isn’t going to be much good to you.
Once you’ve trimmed all of the fat from your outgoings, the best way to readdress an imbalance in your bank account is with a pay rise. Although a lot of jobs come with semi-regular pay increases, if you really want to improve your salary then you probably need to go for that promotion.
Here are some tips for getting into a more senior role at your current company.
Get your voice heard
How others perceive you at work is just as important as how hard-working or talented you are, as they’ll be making the decision about who to promote. If you’re somebody who just keeps their head down and gets the job done then, unfortunately, you may not be top of the list when it comes to a new role – especially a managerial position, where the business leaders are likely looking for a strong voice.
Make sure you speak up in meetings and raise ideas and suggestions to your boss. If this takes you out of your comfort zone, then you might want to consider doing some extra prep work before key meetings. Spend some time reading relevant material, brainstorming and swatting up on useful information so that you’re armed with a couple of talking points.
Be honest with your manager
Do you see yourself doing your manager’s job one day? Tell them. Chances are they’re planning on a step up too, so being aligned on a timeline would be really useful. Of course, you don’t want to make it sound as though you’re looking to take their job. Just let them know that you aspire to doing what they do one day and would like to know what it would take to get there. They can help you put together a roadmap and develop the right skills, and they should also be able to let you know if similar positions open up.
Take on extra projects
You usually have to go above and beyond the call of duty before you start to get paid more for your extra work. If you’re ready for the challenge of a more senior role, then you need to prove it: a great way to do this is by putting your name forward when a special project comes up, especially one that will stretch you beyond your usual day-to-day tasks. This is also a great way to find out how your higher-ups view your work. If they’re reluctant to give you the extra work, or hand it to someone else on your team, then it may be time to have a frank conversation about why.
Climbing the career ladder is not for everyone: while some people see landing a more prestigious position as ultimate goal of working life, others are happy to rest on the rung where they feel most comfortable. Either of these positions are fine, but if you fit into the latter camp then you need to be honest with yourself about how much you can earn. As long as you’re able to cover all of your outgoings, save for the future and pay off any debt then you don’t need to worry – otherwise, it may be time to push yourself into a new stage of your career.