How to increase your salary with career development and skill training

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Finding opportunities to grow through career development and skill training could be your pathway to making more money, whether by increasing your salary in your current role or in a new job. 

Career development is your long-term vision for your professional goals, and skill training represents the short-term activities that can help you achieve these goals. 

For practical tips and strategies on how to get the most out of your career journey, we sat down with India Best from Beforepay’s HR team. Let's dive right in!

1. Why are career development and skill training important?

According to Zippia, a 2023 survey revealed that 76% of employees are on the lookout for career opportunities. While finding a new job might be one option, it’s important to consider your goals and assess whether there are any opportunities within your current organisation.

India explains career development and skill training are key because they bring:

  • Adaptability -  it helps you stay relevant in an evolving industry.
  • Job satisfaction - creates a sense of accomplishment and fulfilment in your role. 
  • Retention - allows you to stay satisfied at a job for longer because employers are showing a commitment to helping you grow. 

In a nutshell, focusing on your career not only keeps you in the game, but also helps you achieve personal goals and success.  

2. What role does mentorship play in career development?

Mentors bring priceless insights and advice for tackling professional challenges. According to India, they're not just a source of wisdom but also open doors for skill development, sharing practical knowledge they’ve gained from experience.

India suggests finding mentors by spotting seasoned colleagues or leaders in your field. Beyond the workplace, dive into industry events, network functions, and professional platforms like LinkedIn to connect with potential mentors.

It's all about learning and growing with a little help from those who've been there and done that!

3. What are common challenges employees face in career development?

Navigating your career journey can be tricky, and each new job or step can throw some challenges your way, making things seem a bit overwhelming.

India says employees might face these three challenges in their career development, and suggests some practical tips to get through them.

  1. Lack of direction - If your career goals are a little fuzzy, set clear and achievable ones. For example, completing an online course in digital marketing within the next three months.
  2. Skill gaps - Feeling a bit under-skilled for your dream role? Identify what's needed, get the relevant training, and dive into on-the-job learning.
  3. Organisational barriers - Stuck in a career crossroads at your current workplace? Communicate your aspirations with your managers, explore sideways moves, and keep an eye out for external opportunities.

“It's all about finding your way and overcoming those temporary bumps in the road.”

4. What are some tips for setting and achieving goals? 

Ever set goals only to forget them a week later? It happens to the best of us. 

India suggests using the SMART method to ensure your goals are clear and achievable: Specific, Measurable, Achievable, Relevant, Time-bound. This approach works by setting goals within a timeframe, creating a sense of urgency and motivating you to achieve them. 

Then, prioritise your goals based on impact, considering which goals are more significant in helping you reach your desired outcomes.

“Ensure that each goal resonates with your core values, reflecting what is personally meaningful,” says India. 

5. How can busy professionals juggle a full-time job with finding time for skill training? 

Life's a whirlwind—work, last-minute groceries, and the quest for 'me time.' Finding space to learn extra skills can be tough. Luckily, India has three quick tips to kickstart your learning journey:

  1. Break learning into short, focused sessions (15-30 mins) to fit into your busy day.  
  2. Listen to audiobooks, podcasts, or educational content during commutes for learning on the go.
  3. Tap into online courses and webinars for flexible learning that fits your schedule and location. If you ever need to get fast cash to buy a course, consider using Beforepay to access your pay early! 

6. For those between jobs, what steps can they take to boost their skill set? 

Between jobs and feeling uncertain? Don't let it get you down. 

India has some tips to keep your skills sharp.

Find more salary-boosting tips with your on our 4 steps that could help increase your salary.

7. What are some in-demand job skills right now? 

Looking to boost your earning potential? We asked India about some skill sets that can make a difference, and here are two valuable suggestions.

  • Data analysis and analytics
    In a data-driven world, the ability to analyse and pull insights from data is becoming highly sought after. In fact, jobs that have AI or Machine Learning in their titles and/or require AI Skills have increased by 12% globally across countries such as Australia, United Kingdom, United States, Germany, India, Brazil and France. 

  • Digital marketing skills
    With the digital landscape constantly evolving, having a knack for digital marketing can open up new opportunities and contribute to increased earning potential.

You can learn and grow these skills with online courses like those offered by TAFE NSW and Coursera. Consider developing these skills to not only stay relevant but also enhance your income opportunities in today's competitive job market.

8. How might we navigate a job switch while ensuring financial security?

Wondering about a job switch but feeling the weight of job and financial security on your mind? India shares valuable advice for those contemplating a change.

  • Evaluate your current financial standing - understand how long you could sustain yourself without a steady income.
  • Invest time in enhancing your skills - acquiring new skills can increase your chances of securing a position in a new field or industry.

“Before making a switch, thoroughly research potential employers and industries. Leverage your professional network to gather insights and potentially secure job opportunities before leaving your current position,” says India.

Disclaimer: Beforepay Group Ltd, ABN: 63 633 925 505. Beforepay allows eligible customers to access their pay and provides budgeting tools. Beforepay does not provide financial products, financial advice or credit products. The views provided in this article include factual information and the personal opinions of relevant Beforepay staff and do not constitute financial advice. Beforepay and its related bodies corporate make no representation or warranty, express or implied, as to the accuracy, completeness, timeliness or reliability of the contents of this blog post and do not accept any liability for any loss whatsoever arising from the use of this information. Please read our Terms of Service carefully before deciding whether to use any of our services.