6 Career Risks Worth Taking to Make More Money
With recent trends indicating that most Americans entering the workforce will make less money than their parents, it’s not surprising that nearly 60 percent of Americans would choose a different path if they could start their careers over again.
But changing the direction of your career isn’t an easy decision. While the risks can seem intimidating, deciding to take the right risk at the right time can lead to a high immediate payout and increased long-term financial success.
So what should you do if your current job isn’t helping you reach your financial goals? Consider these six career risks you may want to take if you’re serious about earning more money.
- Follow a former boss or employer
When it comes to taking a risk on your career, an easy place to start is to look for opportunities to work with the employers that helped you achieve the success you already enjoy. This option is especially viable if you feel like you aren’t progressing in your current position or if you and your current boss just don’t see eye to eye.
The relationship you develop with an employer has a significant impact on the outlook of your career and directly affects your future earnings. Working for the right boss increases your chances of promotion, pay-raise and job security.
- Join a promising startup
While tradition would suggest that small businesses are great launching points, in today’s economy, many of the newest and most exciting career possibilities are found within the startup industry.
Regardless of where you are, the startup job market is always full of opportunity. Taking this risk will allow you the freedom to explore new capabilities with the potential of a huge payday as the business continues to grow.
- Step out of traditional industry to try something new
Many professionals get stuck in dead-end jobs because their career goals favor stability and security over opportunity and innovation. Branching out and developing new skills will make you a more competitive employee and help you better understand what you like and don’t like about your career.
With the recent boom in healthcare and tech industries, many of the common skills in corporate positions are transferrable to more exciting, lucrative jobs within these areas. Finding a new job in a different industry will require you to do your homework to determine where you best fit, but the possibility for success is certainly something to consider.
- Make a brain, heart and gut decision rather than just using logic
While most people often feel that they have to choose between financial success and doing what they love, studies show that finding your passion and following it can actually become a competitive advantage. Choosing to use your head and your heart may have extremely positive effects on your career and will allow you to benefit in many intrinsic ways that can’t be achieved through pursuing other priorities.
- Start your own business
Choosing to go out on your own gives you ownership and direct control over your financial possibilities. While it may be a tough route initially, the skills and abilities you pick up along the road to success are equally worth the investment.
- Get the right certification for your career field
Your skills and abilities as an employee are your biggest assets for increasing your earning potential. By investing in yourself through job training or certification, you increase your value as a professional.
For example, for medical professionals, receiving ACLS certification is a strong investment in a medical industry career. ACLS certification is especially recommended for licensed nurses, physicians, paramedics and physicians’ assistants and can be a job requirement depending on the area of specialization or the state in which a medical professional works. Though the curriculum is demanding and requires extensive training and medical knowledge, it greatly increases a medical professional’s ability to save lives.
At the end of the day, your ability to make money through your career will be most directly influenced by your ability to do the job that you are paid for. Developing the right skills and abilities is an investment you want to be sure to make.
Author: Linda Gimmeson