Doubling my 9–5 salary several times in my career is something I never thought would happen. My career went from startup land to call center operator in a short space of time.
That meant going from six-figures down to the minimum wage in my home country of Australia. And to top it off, I have no degrees in anything business related — unless you count a sound engineering qualification.
If an uneducated guy from the home of the Kangaroo can double their salary, there is definitely hope for you. Popular career websites like “Seek” suggest the typical advice about doing better in your performance review or getting more education from a university. This advice is out of date and I have watched many colleagues fall for this trap and only end up disappointed.
Doubling your salary, or at the very least increasing it significantly, is about breaking the norm and trying a few things that are a bit more radical as you’re about to see with these simple tips below.
The goal should be more than money
Okay so you can make more money but if that’s your only goal, the extra zeroes on your bank balance will get really boring real quick.
Aim for a goal like one of these:
- To be a leader in your field
- To become a leader of people
- To use your extra salary to support projects you care about
- To make more money to start a side business
My goal to earn more money was two-fold: to become a leader of people and make more money so I could work less and write more. That led me to work a 4-day week and writing two full days with one day rest.
There are two approaches to doubling your salary and both are worth exploring:
- Explore your internal options at the current company you work at
- Look outside of your current company