After you must have successfully got that dream job; gained significant experience, while aiming for a higher position, the next thing you would be working on would be how to boost your salary.
Ways to increase salaries, bonuses, and compensations are opportunities employees often look forward to. A criterion that is often not considered is the willingness to upgrade one’s skill and become that valued staff that is not only good at what they do, but also not easily replaced.
How to Boost Your Salary
As an employee who has considered how to boost your salary, you must be willing to gain and develop in-demand skills that are relevant and align with what your company needs.
Learning is a lifelong journey which must be embraced as you progress in your career. Increasing your chances of getting that dream pay is by putting in efforts that are in line with what’s lacking or insufficient in your organisation.
And if you must switch to another career path with a desire for higher pay, consider getting certified in relevant disciplines and committed to professional courses. Other ways to boost salaries include staying updated with industry trends, while building an online presence that is solid.
Having a good negotiation skill, especially during job interviews can position you for the kind of salary you wish for.
Leadership and management skills; technical skills; time management; problem solving and analytical skills are those things you should consider having, as they are organic boosters for good salaries.
How Do You Calculate The Percentage Increase in Salary?
If you are an employee who does not like the complexities that come with calculation, that’s fine. Even though you just look forward to salary week and leave out the stress of calculating deductibles, that’s also not bad.
However, if you have just received a promotion indicating an increase in your salary, whether or not calculation can be complex, the enthusiasm for getting an increase in your salary, would propel you to try calculating the exact percentage increase.
To calculate the percentage increase in that salary you have been notified about, here’s what you should do:
First, determine your original salary.
Secondly, determine the new salary.
The next thing you would do is to subtract the original salary from the new salary.
Divide the difference by the original salary
Lastly, multiply by 100 to convert to percentage.
Let’s try this in practical.
Original salary of a Business Manager at Eagle Writers = N500,000
New Salary = N600,000
Percentage increase = [(600,000 – 500,000) / 500,0000) * 100
= (100,000/500,000) * 100
= 0.2 * 100
= 20%
From this calculation, we can see that the business manager at Eagles Writers got a 20% increase in his salary.
This is an easy way to calculate a single salary change for employees.Remember that boosting your salary goes beyond having it as a wish; it requires you being open to continuous learning and growth; skill development, and good planning.
Invest in everything that has potential to give you that edge above others, that way you’ve positioned yourself for opportunities that are able to help you grow and get a better salary than what you currently earn.
Stay motivated and confident through the process, and be assured of a desired financial success.
