Years of experience
Typically, more experience results in higher pay – up to a point. Similarly, if the position calls for someone with 10 years of experience in a particular occupation, and you dont meet those requirements, you may find yourself on the lower end of the pay scale.
Update your skills.
Consider training or certifications that could lead to a promotion. In some companies, if you dont have a bachelors degree, you cant advance to the next level. Some jobs require an MBA; get as much education as possible,Staten said. Search for online learning that could help increase your salary.
The match between your education and whats normally required for your job usually affects your pay. Plus, the quality of education can affect salary. Earning a degree from a top program typically has a positive influence on pay, while earning a degree from a school thats considered weak in a particular field may decrease your earning potential.
Since most employers base their pay decisions at least partly on individual performance, this is an important variable when being considered for a pay increase or promotion. Even when applying for a new job, this information may be important to your prospective employer, as it gives a more complete picture of your abilities.
The more discretion and latitude you have in relation to your companys success, the more directly your decisions and actions will affect the bottom line – and your own. And if your boss is higher on the corporate hierarchy, his or her recommendations concerning your pay have less chance to be overridden in the cycles of review.
Number of reports
The more employees you manage, the higher your pay in certain jobs. Of course, your level of success is also based on the performance of the employees you manage.
Professional associations and certifications
Certifications and memberships in professional organizations or trade associations can have a positive effect on pay. However, if a job calls for a certification you dont have, you might not get the job or your pay might be set at the lower end of the range. Some employers require employees without certifications to work toward them.