Pitch For a Promotion 

When workers are in high demand, companies don’t want to lose their top employees. Take the opportunity to go for a promotion and move up the ladder, making a bit more at the same time. When it’s harder to find new hires, it’s simple to show that you are an in-house rockstar they should be fostering to rise in the organization. Not sure how to ask? Indeed has some good recommendations here.

Negotiate For a Raise

There might not be opportunities to move up available, but there’s no reason you can’t earn more for the job you’re in. Know your worth, and ask for an increase in salary. Statistics show that only 46% of men and 34% of women negotiate pay when they get a job offer. Whether you’re starting a new job or asking for a raise from your current employer, be ahead of the curve and make the most from your employment. This isn’t about squeezing your employer when they’re hurting for workers. It’s about being paid fair wages established by the market and being valued for your contributions. 

Think Outside the Box 

Not all negotiations have to revolve around a pay raise. Many companies are willing to sweeten the deal with extra perks like better benefits or more vacation time. Improving your quality of life in those ways can actually increase your productivity, with the potential to make you more as you work better. It can also free up time for other money-making ventures, like building a side business or taking on a passion project that might bear financial fruit down the road. 

Consider a Career Move

With more and more jobs available, and employers desperate for workers, you can take the chance to shift gears in your career, whether taking a step up, sideways to a new company, or in a new direction altogether. In times where there’s a big shift in the labor market, it’s easier to leverage your experience in one domain to a career transition in another. You may even find that you can enjoy a significant pay increase while you do. 

Add a Side Hustle 

Side hustles are still around and going strong, but you don’t need to settle for a low-paying second job anymore. Some side hustles, like freelancing in your own industry, can even pay better than your 9 to 5. Or you can get a job doing something you’d do for fun anyway, like as a ski instructor on weekends, to bring in some extra cash. You would be surprised how much you can make without putting in significantly more hours, especially as hourly wages rise to meet market need. 

If you play it right, you can use this moment to empower yourself to ask for more. Just remember to be kind, be fair and be confident in your ask.

For more money-saving tools and tips, the rest of the RMCU blog is here to help. Check it out, and make the most of your money.