“I like what I do, but this is not a hobby – I’m here to make as much money as I can.” This quote is from a previous boss I had who worked very hard and also valued work-life balance.

If you have a hobby and happen to make some money with it, that’s fantastic. But for your main source of income, especially if you’re the primary family breadwinner, it’s prudent to consider ways to increase your pay.

More money means more options. A dual-income household with one spouse getting a nice bump in pay increases decision-making flexibility. It could mean one spouse can now work part-time to focus their effort on the children or caring for elderly parents. It could mean both spouses keep working with the goal of paying-off their home within 2 years. Whatever it is, having more options is a good place to be.

Since I started my career in 2012, I’ve had 6 different roles.  Reflecting specifically on my base salary, it grew +82% higher than it was when I first started 7 years ago, and I certainly enjoy a higher degree of flexibility now versus then.

4 Tips to Increase Base Salary

1. Do a good job.  There is no chance of getting promoted into a role with more responsibility and higher pay if you don’t do a good job at the role you currently have.  Your current job is part of your interview for your next job.  Exceed expectations.  Hit sales and/or budget objectives.  Outperform peers.  Make your boss look good to their boss.  Do this and your boss will be your biggest cheerleader when the next role becomes available.
2. Get a mentor. Once you’ve researched areas in your company that are of interest, inform your boss that you’d like a mentor who has relevant expertise.  Take initiative and ask your mentor to join them in meetings and conference calls to get a gist of what their role entails.  Volunteer your services for projects.  When a desired role becomes available, you’ll have some relevant experience and a reputable referral from your mentor.
3. Be open to relocation.  One of my mentors told me a few years ago, “If you do a good job and you’re mobile, you can do anything you want in this company.”  This holds true especially for recent college graduates that have the freedom not available later down the line when marriage and children come into the equation.  Relocating for a new role can be wonderful for several reasons, including a diversity of perspective and a faster route to new roles.  Since joining my company, I’ve relocated 4 times for different roles.  These moves also came with relocation packages which included relocation bonuses on top of my base salary increase.
4. Be proactive.  Once you’ve in role and are competent enough to consistently do a good job, block-out time to do “extra stuff”. This way, you can showcase your initiative. Also – read, read, read.  Subscribe to free industry publications and newsletters.  Send relevant articles to colleagues.  When you’re on vacation, set your out-of-office to include links to articles so you can enrich your workplace even when you’re not there.  Read one business-related book per quarter; one of your next reads should be The Personal MBA: Master the Art of Business. It’s a good one. Read the business section of several news sites.  In addition, spend time strategizing conversations for upcoming meetings.  Too many people stick to their group of work-friends at meetings instead of intentionally planning who they should interact.  Part of your next role’s interview is unofficially any interaction you’ve had with that hiring manager.  If you anticipate they’ll be at an upcoming meeting, strategize how you’ll connect with them.

Key Takeaway

A nice base salary isn’t the most-important aspect of a job, but it is one of the most important elements.  A great boss, a company culture that fits, a company vision you believe in, a team you enjoy working with, a role that makes you feel like you’re making a difference, achievable bonus opportunity, a flexible work schedule, and reasonable commute times, are all key factors too.

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