You are a computer engineer with xx,xxx salary for 5 years. You noticed that it has been 5 years since your last salary increase. As a computer engineer, you should be well-compensated. Most especially if you are working in a highly technical field.
At some point, you might be wondering if you can afford to ask for a salary increase, or, are you underpaid. If you are loaded with good character and skills, you might get that salary increase, however, it is not always the case.
In this article, we will be presenting you how to have a higher compensation as a computer engineer.
Get a Promotion
If you, a computer engineer is currently employed, then getting a promotion will give you a higher salary.
Having been promoted means more responsibility and job, that is equivalent to the value of your position. For example, If you are promoted from a first level employee into a managerial position, it has a higher salary rate, yet bigger and wider scope, and added responsibility.
However, promotion is not easy, you should have papers that support your claims and promotion.
Improve Skills and Qualification.
At the moment, if you can’t get that promotion, then you have to improve your skills and qualifications. Basically, these skills and qualifications come from training and seminars.
I suggest taking a graduate degree program such as Master of Engineering Management, Master of Public Administration, Master of Computer Engineering, and other computer engineering-related programs.
Computer Engineers like us should not stop studying and learning. That’s one of the keys to get a promotion; through seminar attendance, and graduate degree programs.
Transfer to other Department
If you can’t maximize your full potential in your current department, why not ask for a transfer. Your skills might not fit or suit your present office. You might be improperly deployed into that office.
As a computer engineer, you should be in the engineering and planning department, also, you can be placed in the ICT department. You will utilize your expertise in the said offices, and eventually, when the bosses see your set of skills, they may give you a promotion.
Get Another Job
If you really can’t get that salary increase you want, you need to find another job. The job you are looking for should give you the salary that you want.
However, do not be hasty. You should talk to your boss about your concern. They might have something for you to make you stay. Negotiate with your boss.
If they can’t give you what you are asking for, then it is time to write and print the resignation letter.
You should make a clear resume and curriculum vitae that you can use for applying for a job. Additionally, you can build your online presence, and apply for a job through job-seeking sites.
Start a Business
While you are employed, you should be saving. The savings you have accumulated from the start of your job can be used to start a business.
The nature of the business depends on you. It can be a tech-related store like PC Shops. Aside from that, you can start a small-scale restaurant. Create a website and start blogging, the internet pays you well if you have informative content.
There are many business ideas that you can start that fits your capital. You just have to search the internet.
If you don’t want to start a business, then investing could help you. If you know how to trade, and you understand how analytics work for stocks, then it might work for you.
Basically, what you need is a capital. Study the analytics of different stocks. If you see gains in a particular market, then buy stocks. Once you earn, sell the stocks.
Also, you can buy the stock and hold it for a long time.
Those are some ideas how investment works- through daily trading and long time holding.
Today, computer engineers can invest in cryptocurrencies like Bitcoin, Etherium, Ripple, etc. However, invest at your own risk.
These are the most common ways to get a higher salary as a computer engineer. My take is this, land for a job, save some amount and place it into a business, or invest it. Having business and investment may give you financial freedom.
Having a corporate job at first is inevitable, especially if you were born without a silver spoon in your mouth. You have no choice but to deal with a 9-5 employee-employer relationship.
These might not work for all, but, why not give it a try?
If you have something in mind, share with us your thoughts.