Would you like more money? Stupid question, right? Globally we’re facing the biggest cost of living crisis for 40 years. During the summer in the U.S., inflation rates were the highest they had been since November 1981.
As a result, everyone would like to earn some more money. But are you sitting back passively and waiting for a salary increase, or are you being proactive and going out and securing one?
While businesses are facing challenging times, certain areas, especially within tech, continue to flourish. Demand for those with cybersecurity and AI skills continue to grow, while software engineers, solution architects and those with experience in fintech are enjoying a higher sense of security than other sectors.
In fact, by 2025 experts expect there to be 3.5 million cybersecurity job openings. So how can you get more money now for the same amount of work as before?
Ask for more money
Yes, it sounds facetious, but if you don’t ask then you’ll never get. Just make sure that you’re not only asking for increased compensation. Would an increase in pension contribution help too? Could a reduced working week help with childcare costs or other family commitments? Figure out where you can benefit from non-financial compensation, and put a business case together.
Upskill and train
Want to get more money? Then you need to bring more value to your company, and if that’s not possible within your current role then it may be time to upskill. Can your employer fund additional training or is there a horizontal move you can make into a department with more possibilities?
Industries move on, and the skill set that has served you well up until now may need a little polishing. Additionally, businesses can get stuck in ruts––is there a new revenue opportunity that you can lead your company in? Directly impacting profits will put you in a much stronger position when it comes to seeking additional compensation.
Make a move
If your employer can’t, or won’t, discuss your compensation package, then you may be faced with no alternative but to move on. However, before you jump ship, do your research. Will another employer give you the salary you think you deserve, or does your current company have a point in not increasing your package? Weigh up the responsibilities you have now and what you’ll need to take on with a new employer to justify an increase.
Do your research
Following on from the last point, research your industry and your value within it. Are others getting paid more because they have additional skills or education, and are you a little fish in a big pond looking for big fish money?
Also look at the longevity of your sector and identify now if there is an area that you see growing within the next 10-15 years, which will provide continued opportunity. Industries plateau, so understanding where your sector is headed will help you identify how to get more money. Similarly, knowing your value can help you decide whether you need to move companies, move sector or upskill.
We’ve highlighted three companies currently recruiting below, and there are many more also looking to fill vacancies, so make sure to browse.
Coalition is the world’s first active insurance company, which stops fraud before it happens through bespoke software that enables companies mitigate risk factors, making it an interesting career option for those interested in insurtech. Coalition is currently hiring for a number of roles across all departments, including Senior Security Engineer and a Head of Product Design and UX. Explore all available roles at Coalition.
The world’s first online marketplace for NFTs and crypto collectibles, OpenSea is known as a generous employer which offers staff benefits including health insurance, generous parental leave and a flexible schedule. OpenSea is currently recruiting for a number of roles including Senior Product Designer, Software Engineer and Senior Counsel for Regulatory Affairs. Browse all available roles at OpenSea.
Officially the world’s leading CRM platform, Salesforce has a global workforce of over 73,000 which may partially explain why it was voted #4 on the Forbes world employer list with benefits including pension contributions, health insurance and schemes covering everything from travel to exercise. Salesforce is currently hiring a number of roles for its US offices, including Solution Architects, and a Technical Architect. Browse all available roles at Salesforce.
There are dozens of companies currently hiring across all sectors and levels on the NextPit Job Board – discover all opportunities now. This article was written by Aisling O’Toole.