By Nate Steere,
If you're looking for ways to make more money at work, you have a few things to keep in mind. Remember that work is a value proposition: companies pay you for your work because you create value. They purchase work that's valuable to them in the same way they purchase supplies, and part of that process is deciding how much they value the various inputs they purchase for their business. So, using the law of supply and demand, you can see there are a few key ways to make more money. You can become more valuable, producing more work or work that's rare/valuable, or find other ways to raise your employer's demand for what you do.
Need more? We have you covered: Here are our top 10 ways to make more money. Now go put theory into practice.
1: Ask for it
If you're worth more than you're currently being paid, ask for it. If the company agrees with your assessment, you can often secure more money immediately. There is definite tact required in asking for a raise, and you should read up on the process before trying this one. Furthermore, timing is a huge factor, so you should learn the best way to go about asking. Despite all that, many men have started earning more simply because they asked for it.2: Work late
Studies show that people who work 45 hours a week earn 44% more than those who work 40. Start building that sweat equity; if you're dropping your pencil at 5:00, you're leaving money on the table. Don't just put in mindless hours, however, because the true measure isn't the number of hours you man your desk, but the work that you do. Focus on creating valuable overtime work. If anything, it's easier outside of normal business hours, since the phones stop ringing and you're less likely to be interrupted.3: Learn to negotiate
Any time you receive a promotion, take a job offer from a new company or just rework your current compensation, you're in a negotiation. And just because a company knows what they intend to pay you doesn't mean that it's set in stone, especially if you make a compelling argument that you're more valuable than they originally thought. Learning the basics of negotiation could earn you a bundle over the course of your career. It will pay off in other areas of your life too. Lower rent, better car payment and much more can all be yours if you spend time mastering the fine are of the deal.4: Dress the part
We love the old advice to “dress for the job you want, not the job you have.” We've said many times that you don't need to glide around the office in a tux and tails, but you shouldn't come to work looking like you've met the absolute minimum standard for workplace appearance. Having a sharp, professional look conveys volumes about whether you take your job seriously, and it's easy to project ambition when you look the part. If you want a coveted position or a leadership role, you want people to be able to picture you in that role.5: Become an expert
Develop a reputation for being wise on the workings of your industry. Most industries have trade magazines, which are often ad-driven and free to subscribe to. Get a couple of relevant magazine subscriptions and have them delivered to your workplace. Learn the movers and shakers of your field. Contribute an article to a paper or magazine read by those in your industry or correspond with authors who cover the field you work in. Offer quotes and feedback to magazines that cover your field, and get your name out there.6: Become a specialist (learn to do one thing very well)
There's a reason brain surgeons make more than baristas. One has skills that took years of costly, grueling study and dedication, while the other has skills that any adult could quickly learn to do -- if not perfect. In terms of supply and demand, the surgeon has skills that are in far lower supply and, thus, in higher demand. By learning to do skills others around you cannot or will not, you separate yourself. A great way to begin is to look around your field, or the field you hope to work in, to see what uncommon skills are valued or rare.7: Get connected
You already know this one: Often it's not what you know but who you know. Getting to know others’ needs and wants, as well as their interests and passions, will give you a group of people with whom you can work and grow. Be pleasant to others at all times, even when you need to disagree with them. Build your network, and help them any chance you get. If people in your network are excellent at what they do, refer them to as much business as you can. The good you do for other people is its own reward, but a strong network will help you for your entire life, often in surprising ways. You don't have to believe in karma, but social karma is the law of the jungle.8: Change companies
The way to get a truly large pay increase is to change companies. A worker who's hired away to another company is enticed to switch by offers like a bigger office, better working conditions and more money. If you've proven yourself and you have a good name in your industry, you may even find that offers come looking for you. And don't discount the idea that your current employer will counter-offer to get you to stay -- it happens more than you think. Just don't jump ship too often; when your resume shows a history of short employment it looks like you don't invest yourself in your job, aren't reliable, never happy, or don't know what you want.9: Go back to school
Education is a crucial factor in earning potential, with college graduates earning an average $1 million more over the course of their careers than those without a degree. So a good degree from a known university is a giant head start in a career. If you didn't earn your degree, consider going back to school, at least a few courses at a time. And even if you have your degree, you can pursue a graduate degree or obtain a specialized certification in your field. Either way, devoting your evenings and weekends to increasing your education will gain you new abilities while opening the door to higher wages.10: Do great work
This is obvious but powerful. All the negotiating, networking and personal branding in the world won't help you if your work is crap. If you spend half your day cruising YouTube or chatting with coworkers, you aren't delivering. If you are trying your hardest but still struggle, read up on ways to organize your work, prioritize and accomplish what's most important. Volunteer for the tough assignments, and find ways to help your company and make your bosses look like superstars. Develop a reputation for great work and develop the know-how to back it up. In the excellent words of Zig Ziglar: “Do more than you are being paid to do, and you'll eventually be paid more for what you do.”For more AskMen lists that are bound to help you out, check out our Top 10: Army Lessons That All Men Can Learn From our 7 Ways To Find Hidden Money.
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