Business

Increasing Earning Power

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I’m set to graduate pretty soon, but I don’t feel all that ready. I’m starting to be concerned about my future earning potential. I’m not sure that I chose the right major, and I’m worried that my liberal arts degree is not going to get me where I need to be in terms of money and personal finance.

Here’s my question for the experts: what kind of strategies can I use to maximize my earning potential after I graduate?

How much you earn isn’t everything in life, but earning a little more never hurts! Raising your income after college graduation takes hard work and consistent performance, but there are a few key ways to do it.

One way to boost your worth to an employer is to add further training and education. This is true at every level of education and in all sorts of different careers: for instance, experts at an institute that offers ASE automotive degrees tell us that certification and training are key in the world of auto mechanics. The same is true in businesses of all types.

Returning to school so soon after graduation may or may not suit your long-term plans, but remember that you can make further education fit your schedule by taking advantage of part-time programs, low-residency programs, and online education programs. You may also be able to fit more school into your career plans by working for a few years before going back: sometimes, you may even be able to get your company to pay for your graduate degree!

Your earnings potential is only good if it’s realized, of course, so you’ll want to make sure that you actually get those raises! The most obvious way to do this, of course, is to actually ask for a raise–something that far too few people do, studies show. Experts say that jumping ship to a new company or even changing careers entirely are good ways to get major boosts in income. Getting huge raises without changing employers can sometimes be tougher.

You’re wise to keep your earnings in mind and to want to improve your chances of making a comfortable living, but don’t worry too much: if you make smart decisions and work hard, we’re sure you’ll be fine. Plenty of liberal arts majors have become wildly successful in financial terms, including Michael Eisner and Jack Ma. Who knows–perhaps you’ll be the next liberal arts grad to prove that you don’t need a business degree to be a business icon!

“The old rules are crumbling and nobody knows what the new rules are. So make up your own rules.” — Neil Gaiman

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