I’ve written a lot about how you can save money, about how frugality and thrift can help you to get rich slowly. But another way to save more than you earn is to increase your income. Paul’s Tips offers a guide to getting a job that pays more than $100,000 a year.
How do people get themselves into a position of earning good incomes at young ages? Why do some people work hard for minimum wage while others have cushy jobs that are well-paid? Most importantly, how can you become one of the latter? I’ll attempt to provide a definitive answer for the last question. I’ll lay out a system you can use and clear steps you can follow towards moving into a job paying more than $100,000 a year. I’ll also give you ways to make sure that such a job comes with good conditions.
The seven steps are:
- Choose the right profession. If a high income is your goal, then research salary surveys. You might start by sifting through the list of the best jobs in America.
- Become educated in your chosen profession. If you’re young, pursue the appropriate degree. If you already have a career, take classes part time, or pursue alternative qualifications. (After only a year of part-time classes, I was able to land a job computer programming.)
- Choose the right location. “If you’re aiming at moving into the finance industry, then New York City obviously offers far more opportunity than rural Kansas.”
- Polish your resumé. A resumé won’t get you a job, but it will get your foot in the door. It’s a key first step.
- Improve your interview skills. Practice, practice, practice. Read the Paul’s Tips article on improving your interview skills. A good interview can compensate for other weaknesses.
- Get an entry-level job in your chosen profession. Play the numbers: apply to many places and conduct many interviews. When you get your job, stick with it to get the experience you need to advance.
- Change jobs and employer. By changing your environment, you can increase your pay, experience different corporate cultures, and reduce risk.
- Change jobs and employer again. Once you’ve reached this point, you’re ready to find the perfect job with a balance of income and good working conditions.
These are basic steps for any career, of course, but they’re key to maximizing your income, if that’s your goal. (There are other possible career goals: helping others, high quality of life, self-fulfillment, etc.) For more information, read the entire guide at Paul’s Tips.
And remember: a high-paying job isn’t an exemption from sensible financial choices. A frugal lifestyle and a high income can be an excellent route to an early retirement. But like anyone, you must be willing to make sacrifices now to live the future you envision.
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