Is money the main motivator for you? Perhaps not. For example, those who run animal shelters or charities or commit to hard jobs like social work are rarely in it expecting to get rich. To speak with a sort of embellishment, it’s true that true wealth does come from believing in what you do and having a positive impact on the people and communities around you. For some, that’s enough to last for a whole career.
But you’re not wrong for wanting money, either. You don’t need us to tell you that things are expensive. Even if you just want a good vacation each year, that costs money, and a fair amount of it too. Perhaps for you, you want to continually get paid the most you can for the work you do, and that’s all you really care for. That’s not to say career motivations are a binary choice between one or the other, as even the most charitable person has to make ends meet somehow.
If you’re looking to really maximize that earning potential, however, we have some advice that’s more proven to work than anything else:
Target Industries Known For High Salaries
If you want to make serious money, you need to go where the serious money is being spent, which of course makes sense. It’s true that tech companies are throwing cash at developers and data scientists at the moment, and yes, investment banks still pay eye-watering bonuses to people who can handle the pressure. Energy companies, and especially renewables right now, are desperate for talent and willing to pay for it as they expand and invest in their new standard.
As such, you might find that your current skills are worth way more in a different sector. A graphic designer working for a small agency could potentially double their salary by moving to a fintech startup where design directly impacts user conversion rates, but of course, that’s just a small tip. It’s important to scour your market and consider if the same skills, in a different context, may earn you a completely different pay scale.
Certifications That Help Pay
As ever, getting certified in the right areas can be a good investment in yourself, assuming you pick credentials that employers are looking for and value. Cloud computing certifications are generally helpful to IT salaries, because everyone’s moving their infrastructure online but not everyone knows how to manage it properly. Cybersecurity qualifications are gold of course and will no doubt stay relevant, especially with all the data breaches happening.
The important plan is doing your homework first before spending time and money on certifications that look impressive or are sold as a guaranteed salary boost. Though some simple searches, like on LinkedIn jobs, you can tell which qualifications keep showing up in those £70k+ postings versus the £35k ones. Remember you may need to renew some or continue to educate yourself in other spaces.
Negotiate Perks If You Can
If done right, benefits can sometimes get you more value than pushing for only salary increases, which works well when companies have strict pay bands they can’t budge on. A company car might be able to wipe out your monthly finance payments, insurance premiums, MOT costs, and all the surprise repair bills you were dealing with otherwise, for example. That’s not a bad outcome if you net a good one.
Salary sacrifice for car deals work brilliantly for this, because you’re essentially getting a brand new vehicle while reducing your tax bill at the same time. Your employer saves on National Insurance contributions too, so it’s genuinely win-win. Though other benefits like enhanced pension matching, private dental cover, or extra holiday allowance can add thousands to your effective compensation without touching your basic salary figures too. So be sure to allow for that if you can. It might be worth staying in a stable job with those options than going for something new.
Consider Relocating If You Can
If you want to be a top-flight actor, where do you go? A big city with a strong media scene, most likely. The same can be true in some industries, as moving to where the money is can be the fastest salary boost you’ll ever get, though you need to be realistic about whether the extra income covers increased living costs. In the UK, Manchester has become a proper tech hub with salaries that rival London but housing costs that won’t bankrupt you. Edinburgh’s financial sector pays well and the quality of life is brilliant there as well.
Remote work has changed everything though, because you can now grab some high-paying jobs without always relocating. Companies that used to only hire locally are now competing globally for talent, which drives wages up even if the competition can feel a bit obscene. You could potentially land a role paying London rates while living somewhere your money goes much further if you do it right!
Take On Roles With Performance Bonuses
Your base salary is just the starting point of course, and it’s okay if you’re not joining a new place as a millionaire. Some positions with decent bonus structures can multiply your annual earnings if it goes well. Obviously, sales roles offer commission opportunities, but plenty of other jobs include performance payments that can add chunks to your yearly income. Be mindful about this though, make sure they’re not commission only, that’s the sign of a bad employer.
If you know exactly what triggers those bonuses and make sure they’re based on performance you can actually influence, and that they’re evenly distributed correctly through the team, that’s a better arrangement.. We’d really suggest you avoid roles where bonuses depend on company-wide performance you have no control over, and focus on positions where your individual contribution directly impacts your extra earnings
WIth this advice, we believe you’ll be better able to maximize your earnings potential in any career. And if you can’t now, switching jobs as you gain experience (about two years a place) can make a big change to your wellbeing and help you move forward with confidence.