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New year…. New Salary?

by Marguerite Jacobson

To start this new year off, the general minimum wage is increasing to $15/hour from $14.35/hour . This is exciting as we begin moving closer to a better living wage and many who are earning minimum wage will be benefitting from this increase. However, if your goal this year is to further increase your income, consider these options:

  1. Consider attending a training program, seminar/webinar or participating in any type of professional development. These opportunities may be a good way to build your network that could lead to possible leads and potential new opportunities.
  2. Explore starting your own passion project. There are resources with the Small Business Center to learn and develop entrepreneurial skills, which may turn into something more profitable as you expand your reach and skills based on your interests.
  3. Volunteer for a special project at work. This initiative may lead to a bonus or additional compensation as well as put you on the radar for a future promotion.
  4. If appropriate, request a performance appraisal with the expectation to have your current salary reviewed. Bring a list of your supplementary accomplishments to show your progress that warrant a raise. Seeking regular constructive feedback from your supervisor to support your development, may also increase your chances for a promotion and mobility within your current company.

    You are not alone if you are wanting to start this year with the goal of increasing your income. And this may be a good time! Typically companies have finalized their budgets for the upcoming fiscal year and may be seeking to expand their business or fill current openings. So keep an eye out for increased job postings that may be of interest to you that will help you achieve your new year’s goal!

    Remember, whether you are thinking of exploring new options to change from your current job, or continuing your job search from 2021, Lutherwood is here to help. We can work on individual plans for your job search and support you in finding the right job quickly.