How To Find An Employer That Can Afford To Pay You More
You’ve probably thought about how you could earn more money working for your employer before.
Getting a raise or bonus may even be a common thought you revisit often. However, if your employer’s budget is tight or they simply are unable to give you a pay boost, it may be time to search for an employer that will pay you what you want.
Read on to learn how you can begin the journey of finding an employer who can afford to pay you more.
Table of Contents
Start By Doing Your Research
One of the best things about the internet is the wide range of available information on pretty much anything, including a business’ annual income. There are many public records that share estimates or actual numbers of how much a company has taken in year over year.
Why would this matter you ask? Well, a financially thriving company shows stability which can indicate that they may be able to afford to pay higher salaries. Finding out this information will help you to create a strong list of businesses to apply to work with.
A great place to find out about a business’s annual revenue, whether the business is public or private, is to check the business’s website. For public companies, it could be listed under the investor relations section. This section is usually found at the very bottom of the home page. You can also download a copy of the annual report to shareholders from the same section on the site. Once you do, look for the annual revenue amount near the top of the income statement in that report.
Also, private companies sometimes have this information in press releases so check their media/press section on the website. You could contact the company too and request their financial information but if they’re private, they don’t have to give you that information so prepare yourself for questions or a flat-out no.
Another great resource is Manta.com. This is a free directory and search engine for small businesses. They list key points about the business, including the annual revenue estimate.
Gather Salary Information
If you’re in a specific role or a well-known field, it’s good to know what the going rate is for your current level of expertise.
Having this information is also a great way to see what skills you could possibly grow. More skills can amplify what you bring to the table and therefore boost your earning potential. There are several fantastic sites to check out general salary information and direct information on company salary history.
These free websites below are common go-to salary information hubs. They offer great insights to help you on your new employer search:
Ask New And Better Interview Questions
As you go on interviews, you have a great opportunity to find out more about salary potential by asking better, smarter questions.
Of course, asking questions regarding salary is usually tricky. Here are a few questions that you can work into your interview process:
- How does your company’s compensation compare with the current market rate for this or similar roles?
- Can you give me an idea of where my skills and background might put me within the range you mentioned in the job posting?
- Can you provide an idea of what you’ve budgeted for this position?
- Is there room for growth within the company?
- How often do you perform reviews to assess progress?
- Are raises or promotions also and when do these opportunities typically come up?
- Are any parts of the salary or benefits negotiable?
- Is the salary hourly or annually?
Practicing these questions in advance will help you to tweak them to your personality and build your confidence in asking. All of this will help you present yourself better to your potential new employer and can help when it comes to making sure you get the salary you’re looking for.
Grow Your Skillset
Another common way to find an employer who can pay more is to apply for more advanced-level positions. Entry-level jobs often come with an income cap. However, if you’re able to grow your skill set, you can qualify for more senior positions that will pay better.
First, be sure to ask if the company does a lot of promotion in-house. If they do, this is good news because you can work your way up to a higher-paying position. See if you can obtain any new licenses or certificates that would justify a pay increase. You can also ask to take more training classes that your employer will ultimately pay for.
Create Your Own Job
Sometimes the best way to create the income you desire is to create your own position.
If you truly aren’t earning what you feel you’re worth, there are countless side hustle or business ideas out there to get you started and there is certainly one that would match your skills and interest.
A few great options that are in demand and high paying are freelance writing, virtual assisting, graphic design, coaching, consulting, and online retailing.
Niches are also great ways to discover what is in demand. For instance, doggie treat bakeries and creating an e-printables Etsy shop are growing in popularity!
If you’re truly stumped on what services you could offer, read these articles to help you grow your income:
Finding The Right Side Hustle For You
Creative Virtual Assistant Services You Can Offer For $30+ Per Hour
22+ Websites That Pay Writes For Guest Posts
Summary
Employers that meet your income desires are definitely out there, but sometimes it takes a bit of work to find them.
Be patient and take your time with the process of finding a new long-term, full-time position. Doing so will help you get the pay your professional skills and background are worth!
What did you do to get the income you want at your job? What was your employer search process like?
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