How to Make Even More Money By Changing Jobs

If you want to make even more money by changing jobs, try negotiating this into your next job offer.

Leaving your current employer to advance your career and take a job with a new company that pays more isn’t a novel concept. These days, it seems like just about everyone is job hopping to make more money.

But, if you play your cards right, you can make even more money by changing jobs. Here’s how:

Make Even More Money by Changing Jobs

As someone who worked for several different companies over the course of my career, I’m no stranger to the upsides of seeking greener pastures. 

Sure, you can benefit from an immediate increase to your income when you change companies. With some decent negotiation, you should be able to increase your income immediately by at least 15-20% when you change companies

But, if you play your cards right, you can make even more money by changing jobs in the months and years to come. Don’t be short sighted and only consider the immediate pay increase when you change companies. Instead, negotiate your next promotion.

Negotiate Your Next Promotion

Many candidates try to negotiate a bigger job title when changing companies. But, if your desire is to maximize your earnings, you may be better off forgoing the bigger title. Instead, ask your potential new boss to consider reviewing your candidacy for a promotion within 12-18 months.

This does two things for you:

  • It sets you up to gain a second pay increase in a relatively short period of time. You still need to work hard and deliver results, but you now have clear line of sight to how your efforts can pay-off with a promotion and pay increase.

By changing companies and setting yourself up for a forthcoming promotion, you’ve just increased your value to future employers. Your resume not only shows you’re adaptable (working at more than one company) but it also shows you’re a top performer (as evidenced by your recent promotion).

I did this twice over the course of my career, and both times I was able to grow my income double-digits within the first 2 years of changing companies!

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Not a Sure Thing, But Worth a Try

Now, I’ll admit deploying this strategy when changing companies isn’t a sure thing. There’s no guarantee you’ll get promoted or get that second bump in pay. Your new boss may leave the company or choose not follow through with a promotion. But what do you have to lose?

If you’re changing companies to maximize your earnings, forgo the bigger title. Instead, negotiate a near-term promotion opportunity into your job offer.

Best case, you get two healthy pay raises in less than two years and increase your market value. Worst case, you still make more money at a new company!


About Author

As a former CMO who started her career as an admin assistant, Alison writes about climbing the corporate ladder.

After several frustrating years stuck in middle management, Alison set a goal to use her corporate career to achieve financial freedom – and make work optional.

You can read more about her story here.



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