Do I need to change jobs to get more money?

If you are unhappy with your current salary, it may feel like changing jobs is the only way to get more money. Read more about the other ways you can increase your salary below.

Considering if you should change jobs for more money is a common career dilemma many of us face at one point or another. Sometimes the only answer to the problem might be a new role at a different company but you have other options too.

Whether you really enjoy your current role or just want to avoid job hopping, there are most likely several reasons to stay despite being unhappy with your pay. At the same time, you shouldn’t have to settle for a salary much lower than your market value. So, it’s a difficult balance to strike.

How to get a pay increase at a glance

If you’re unsure about leaving your current job for any reason but aren’t happy with your current pay, there might still be ways you can stay while getting the salary you want.

You could try to negotiate a salary increase at your current organisation. If a straight up pay raise isn’t an option, you could alternatively seek a promotion by training for a higher paying role within your company. A side gig might also be the perfect answer to keeping your job but getting increased pay and career gains, as you would be adding more skills and experience to your resume.

Take a look at our advice below to find out more about how you can get the salary you want.

If you would like confidential advice from an expert on anything career related, please contact your local consultant.

Negotiate your existing salary

Your salary probably isn’t set in stone. Many employers will expect you to negotiate and you have nothing to lose by asking. Spend some time preparing your case for a higher salary. Make sure to consider both your own performance and the market rate for your role, so that you can be fully informed when you approach your employer.

During a negotiation, stay professional and calm, remind your manager of the successful projects you have worked on recently, especially if they have brought new business into the company.

Present your manager with evidence of the current market rate for your role. The Hays Salary Checker can help you understand typical salaries for your job, taking into account factors like location and level. If your salary comes out near the bottom of the salary range, you should have a good case for a pay rise.

Train for a better role

It may be that the only way to get a higher salary at your existing workplace is by getting a promotion. If you are happy working at your current company, you could identify an area in which you could add value and ask your manager for a promotion plan. Many employers are happy to support you with training, either by funding it, giving you opportunities to act up in a more senior role or giving you time to attend college or work on your coursework. 

Supplement your income with a side gig

If you have the time and the inclination, you can supplement your income – and increase your experience – with a side hustle, as it is sometimes known. You could work freelance in an area where you already have the skills. If you are an accountant, for example, you could spend a few hours a week supporting start-up businesses or charities.

Working for yourself means you will learn new skills in a wider range of areas than just the core skills required for your job. You will need to concentrate on some sales, networking and marketing to build up your client base. These transferable skills will be a boost to your main career and will help you negotiate a new salary with your current employer or move on to a new role elsewhere.

Consider temping

If you are not sure what your next move should be, temping doesn’t just buy you time, it helps you build up valuable skills and experience. In some industries, like procurement and technology, temps can earn a lot more per day than permanent employees. You may feel that due to the higher pay, sacrificing the benefits of a permanent role would be an advantage in the short to medium-term.

In the meantime, you have the chance to try out a new role and work for a new company, which can help you decide on your next permanent move.

Look for a new job

There is always the possibility that your employer might not agree to your request for a pay rise. If you have carefully considered all the options and still feel there is no chance of a salary increase, looking for a new job may be the right choice for you.

Be confident that it is the right decision for your future and focus your energies on looking for that pay rise outside of your current business. Searching for a new job while you are employed is a good position to be in, as you can take the time to find a role that suits you, and offers the salary, location and benefits you desire.

What you need to remember about securing a higher salary

By exploring these options, you will find the means to secure the salary you want. Avoid making any rash decisions. Take your time to carefully contemplate the next steps. If you ultimately choose to leave your current job, trust that it’s the best choice for you and enjoy the new chapter in your career.

If you are unsure what your current salary should be, or what kind of increase to expect in your industry, take a look at our salary checker tool.