Dear Matt: I have a college degree, years of experience, but I'm just not making the money I feel I should be. How can I make more money in my profession? What are the tricks to getting my dream salary?
Matt: Wade Rastall, vice president of McKinley Consulting (www.mckinleyconsulting.com), a Minnetonka-based search firm, says they hear this kind of question a lot when recruiting candidates. There are really four steps to changing this situation, says Rastall:
Does the candidate's career have a salary ceiling? Every job has a pay scale - does the chosen career actually afford the possibility of making more money or is he or she maxed out at the current salary?
Don't sit on this kind of frustration - talk with your manager or HR lead to determine a mutually agreeable path to achieving higher income.
Success doesn't just happen - people plan for it. Career paths need to be plotted for the next five, 10 and 15 years and everyone should have a game plan to get to each milestone. It's a good idea to interview people in the job you want and pick their brains about how they got there.
Lastly, when money is the real motivating factor, drastic action is sometimes called for - switching jobs or even careers. Sometimes that is unavoidable.
Patrick Foss, CEO of ThinkTalent Human Capital Partners (www.thinktalent.net), a Minnetonka-based firm dedicated to the empowerment of talent leaders to solve business problems, says if you have a healthy work environment and good manager, you should be able to ask for a raise based on the market information you discover.
"If a raise isn't an option due to economic conditions, internal equity, or the company view of the role you are performing, you may find leaving for another company is the only way to achieve a sizeable increase," says Foss.