“We can’t afford to give you a salary raise.”
Wait, don’t go full force with the job search just yet if you really love your job. There may be opportunities in the company for getting extra money than you think.
Below, we offer up suggestions to squeeze out more income from your job if you can’t quite get that raise.
1. Overtime allowance
Asking to work and be paid overtime is one way to increase your paycheck. But depending on your position, you may not qualify for overtime, or it may not even exist in your company.
In that case, see if your employer offers another variation. Ask for bonus for extra work done outside your job description. This is different from overtime allowance. Hopefully, this won’t be a one-time thing. But even if it is, it adds to your paycheck plus you can grow professionally.
2. Utilize your annual leave
If padding your paycheck just doesn’t seem to be working out, then taking your leave in bits or full to focus on a side gig, indirectly pads your wallet.
This is way, you could spend those leave days earning cash outside of your regular job. Maybe it’s time to do some seasonal work or spend more time on something you enjoy but often have to put off because of your regular job.
3. Get another job offer
So you’ve strategized all the ways you could squeeze more into each paycheck, and you still keep coming up against a brick wall. In that case, ask yourself whether it’s time to start applying to other positions in hopes that your employer will know just how in demand you are.
Hopefully, showing you have an offer from another organization might spark a counteroffer from your current employer. But be careful not to burn bridges by trying to use your offer as a bargaining chip.
So think hard about whether you want to go the routes we suggested. Do you think trying other options to increasing your paycheck is worth it? Tell us your story.
Did you find these tips helpful? Let us know in the comments!