There is no question that money makes the work go around. While it can’t buy you happiness, it is essential for buying food and clothes, putting a roof over your head, and purchasing luxuries such as holidays and entertainment. Maybe you want to start saving or put more away for your retirement. Whatever your motivation, our advice and tips can help you earn more money in your career, job, or another venture.
In this blog, we explore:
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How to earn more in my job
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How to ask for a pay rise
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How to earn more working from home
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How to make money online
How To Make More Money In My Job
You may be aiming for one of the highest-paid jobs in the UK or simply want to earn more money than you do today. In either case, our career development advice is as follows:
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Invest in your training, qualifications, and education - Investing in your training, qualifications, and education is an invaluable endeavour with numerous long-term benefits. By continuously developing your knowledge, you enhance your expertise and remain competitive in today's rapidly evolving job market. Acquiring new qualifications or expanding your educational foundation opens doors to exciting career opportunities and promotions. It also increases your earning potential, as higher qualifications are often associated with higher salaries.
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Develop you soft skills - Soft skills encompass a wide range of desirable qualities that employers typically seek in candidates. These skills include leadership, problem-solving, communication, adaptability, and interpersonal behaviour, among others. The specific set of soft skills valued by employers may vary depending on the industry or field of work you are interested in. It is crucial to understand how your existing skills align with your chosen career path and to identify any areas where improvement may be needed.
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Know your industry and investigate career opportunities - Having a comprehensive understanding of the available career opportunities within your chosen industry or company is essential. Certain employers, such as the civil service and education establishments, offer well-defined career paths with clearly outlined salary bands, providing a reasonable level of certainty regarding your prospects. Having a clear vision of your future career can bring a sense of reassurance as it provides you with defined goals to strive for and a realistic understanding of your potential salary growth over the next years and decades, assuming steady progression. This knowledge allows you to make informed decisions and develop a strategic approach to achieve your desired career milestones.
If you are looking to accelerate your career growth, you should aim to work smarter by following eight tips we set out in our blog work smarter, not harder. We cover topics ranging from leveraging technology to your advantage to effective time management.
Whether you decide to pursue an internal promotion or new job opportunity with another employer, it is a good idea to update your CV. You can use our free CV template to make this task (almost) effortless. Furthermore, you might like to consider how a life coach can help with your career. If you intend to leave your current employer, read our article Everything You Need To Know About Handing In Your Notice.
How To Ask For A Pay Rise
How to get a pay rise from an existing employer is one of the most-asked questions. The success or failure of asking for a raise often lies with the preparation you undertake beforehand.
Just like with any well-executed speech, it's crucial to adequately prepare before asking for a raise. Attempting to wing it may lead to an unprofessional delivery and the risk of failing to effectively convey your key points to your boss.
To ensure a persuasive and compelling presentation, it's vital to plan a well-structured speech that outlines in detail how your role has evolved and expanded since you first started. Provide concrete examples of additional responsibilities, projects, or achievements that demonstrate your increased value to the company. Incorporate relevant figures and up-to-date data that showcase the measurable impact your work has had on the business, effectively emphasising your worth and contribution.
Furthermore, it's essential to research industry standards and salary benchmarks for similar roles in your field. This information can strengthen your case and provide context for why you believe you deserve a raise.
In addition to preparing a solid speech, consider anticipating potential objections or concerns your boss may raise during the discussion. Be prepared to address those points confidently and provide counterarguments or solutions to alleviate any doubts. By addressing potential reservations proactively, you can demonstrate your professionalism, preparedness, and commitment to a productive conversation.
Remember, a well-prepared and evidence-based presentation can significantly enhance your chances of successfully advocating for a salary raise and securing the extra money or benefits you believe you deserve.
We have several trending articles that are relevant to the topic of salary increases that you may which to check out. These include how the pressure of inflation affects your salary and is the average salary set to increase.
How To Earn More Working From Home
If you don’t want to visit an office or other workplace each day, you could work from home in a part-time job or full-time job. You can earn more working from home with a remote job. Employers are actively seeking out remote workers, embracing benefits such as higher staff retention rates, access to more diverse talent, and lower real estate costs.
Foremost, homeworkers have the potential to not just get paid and work on their own schedule, but make savings too. Although you will have to maintain an office space, typically in a spare room, in addition to earning good money, you can save on your:
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Day-to-day expenses - Jobs located in city centres often come with daily expenses like buying lunch and coffee. However, when your home becomes your office, you have the freedom to prepare your own lunch and enjoy a cup of tea or coffee whenever you desire. As a result, remote work can create a balance that allows for reasonable pay cuts while keeping the same amount of money in your pocket at the end of the day.
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Daily commuting costs - No matter if you choose to travel by car, bus, or train, there is a daily expense involved in fuel or purchasing a ticket. Additionally, if you opt for a car commute, you likely have to pay for parking. Embracing a work-life balance also has the advantage of eliminating your daily commute, saving you valuable hours each day that can be spent with your family or simply enjoying extra time in bed.
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Dry cleaning costs - Professions such as office workers, retail staff, and many others often require a suit, company uniform, or smart dress. This necessitates additional expenses in terms of purchasing, dry cleaning, or laundering, which can consume both time and money.
To earn extra cash working from home, first inform yourself on the average salary for your job title. When evaluating salaries, it's important to take into account various factors such as your location, seniority, and experience. Gathering relevant information to support your case for a higher wage includes highlighting your recognition, awards, past performance metrics, achievements, and qualifications.
If you decide to give notice and explore remote opportunities elsewhere, you'll find increasing evidence that prospective employers are not surprised by your preference for remote work. In fact, statistics indicate that 70% of LinkedIn searches conducted by candidates are filtered to display only remote job options.
We also recommend reading our article ten high-paid jobs working from home. We reveal the ten job opportunities that will make you money fast and suggest other popular remote jobs such as Virtual Assistant and Social Media Manager. You can search for work from home jobs here.
How To Make Money Online
To make money online, you could start an online business, become an entrepreneur, or provide freelance services over your internet connection. Success stories are not for certain, but ideas for making money online include the following:
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Building your own website/e-commerce site - Building your own website/e-commerce site allows you to showcase and sell products or services to a global audience, expanding your earning potential
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Complete surveys/online surveys - Completing surveys on survey sites can provide a convenient way to earn extra money by sharing your opinions and feedback with market research companies
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Selling unwanted gift cards - If you have access to unwanted gift vouchers, selling them online can become a good source of extra cash
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Entering a monthly prize draw - There is no guarantee of success, but you could enter monthly prize draws or free competitions
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Selling items or services on Facebook Marketplace or other online marketplaces - Selling items or services on Facebook or other online marketplaces enables you to reach a large user base and monetise your unused items or skills
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Online tutoring - You can create an online course and tutor people online on a topic or language that you have expertise or experience
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Sell domain names - Selling domain names can be a profitable venture if you have a knack for identifying and acquiring valuable domain names that others are willing to purchase
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Buying your items through cashback websites - Buying your items through cashback websites allows you to earn a percentage of your purchase amount back, providing a passive way to save money over time
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Selling photos online - Selling photos online can turn your photography hobby into a source of income by licensing your images to individuals, businesses, or stock photography platforms
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Purchasing premium bonds - Purchasing premium bonds offers a chance to win tax-free prizes while keeping your initial investment secure, providing a potential opportunity to earn money through luck and chance
You could also explore traditional offline ways to make money. Popular methods to earn money offline include doing odd jobs in your spare time, earning monthly rent from a lodger if your have a spare room, delivering food for local businesses, mystery shopping, or offering dog walking or pet sitting services to pet owners. Selling items at car boot sales is another option that allows you to declutter your home while earning money by offering your items directly to buyers in a physical setting.
How to get paid more by sector:
Want to discover how much you should get paid for jobs in your industry? For the sectors below, you will find advice on how to earn more pay. Coupled with the guidance on how to make more money, is the minimum, average, and maximum salary figures for all roles:
Earning More FAQs
Here we answer your frequently asked questions on how to earn money online or in your career.
HOW CAN I EARN MORE IN MY JOB?
To earn more in your job, you can consider implementing the following strategies:
- Improve your skills: Identify areas where you can enhance your expertise and acquire additional qualifications or certifications. Up-skilling and staying updated with industry trends can make you more valuable to your employer, potentially leading to promotions or salary increases.
- Take on additional responsibilities: Seek out opportunities to take on extra tasks or projects that align with your skills and interests. By demonstrating your willingness to go above and beyond your regular duties, you can showcase your value and potentially negotiate for higher compensation.
- Build a strong professional network: Cultivate relationships with colleagues, industry professionals, and mentors who can provide guidance and advocate for your growth. A strong network can lead to valuable connections, job opportunities, and increased earning potential.
- Track your achievements: Maintain a record of your accomplishments, such as successful projects, cost savings, or revenue growth that you contributed to. This documentation can serve as evidence of your impact during performance evaluations or salary discussions.
- Negotiate your salary: When appropriate, consider negotiating your salary during job offers, promotions, or performance reviews. Research industry standards, highlight your achievements, and confidently articulate your value to the organisation.
HOW CAN I EARN MONEY ONLINE?
There is no such thing as free money, so if you want to earn extra money online, here are some popular ways to make money you can explore:
- Freelancing: A great money making idea is to utilise your skills and expertise to offer freelance services in areas such as writing, graphic design, programming, marketing, or consulting. Join freelance platforms or create your own website to showcase your portfolio and attract clients.
- Online tutoring or teaching: If you have expertise in a particular subject, you can offer online tutoring or teaching services. Numerous platforms and online sites connect students with tutors or facilitate teaching opportunities in various subjects or languages. You may need a Paypal account or bank account for accepting payments.
- E-commerce: Set up an online store and sell products or services to make money. You can either create your own products or source them from suppliers. Platforms like Shopify, Etsy, or Amazon can help you establish your online presence.
- Affiliate marketing: You can earn cash by promoting products or services of other companies through affiliate programs. You earn a commission for every sale or lead generated through your unique affiliate links. Building a blog, website, or social media following can help attract an audience for your affiliate promotions.
- Online surveys and micro-tasks: Participate in online surveys, complete small tasks, or join micro-task platforms that pay you for completing specific actions, such as data entry, transcribing, or reviewing content.
- Content creation (YouTube Videos): Start a YouTube channel, blog, or podcast and monetise it through ads, sponsorships, or crowdfunding. Consistently produce high-quality content that appeals to a target audience and grows your viewership or readership.
Remember, earning money online often requires effort, dedication, and persistence. It's important to research each opportunity, understand the potential risks, and choose a path that aligns with your skills and interests.