Want To Make More Money at Work? Improve These 8 Skills
Written by
Jordan Rosenfeld
Edited by
Amber Barkley
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Employers love a capable employee. Adding certain skills to your repertoire can boost your value to your company and make you more competitive in future job searches. Some skills, however, are more likely than others to also lead to better and higher pay.
Experts explain where to focus your efforts when it comes to learning new things, if you want to see a bigger paycheck.
Leadership
Leadership skills are among the most coveted among employers. Scott Lieberman, HR expert and founder of Touchdown Money, said, “Showing that you have a strong work ethic, can effectively manage others, can problem solve and are willing to get the job done will increase your chances of gaining promotions and increasing your pay.”
Technical Know-How
In this digital age, where AI is transforming many of the ways people work, Lieberman pointed out, “Choosing to consistently learn new technologies, upgrade your education about your profession and implement those skills shows your willingness to be a top performer.”
In a similar vein, Abid Salahi, co-founder of FinlyWealth, suggested that becoming a “data driven dynamo” can work in your favor.
“The world runs on data. Companies crave employees who can wrangle, analyze and interpret this valuable information,” Salahi explained.
Mastering software or hardware — or both — can make you a highly sought-after asset. Salahi said that data science jobs command an average base salary of over $120,000 in the U.S. as of 2023.
Communication
There may truly be no skill more essential than good communication. Being able to convey your thoughts and ideas clearly, effectively collaborate with team members and listen shows your respect for coworkers, Lieberman explained.
Salahi added that being able to articulate ideas clearly, confidently present information and negotiate effectively can put you at the forefront regarding promotions and raises, too.
“A study by the American Marketing Association found that strong communication skills can increase your earning potential by up to 20%,” he said.
Reliability
Showing yourself as a reliable employee will definitely get noticed. Proving you can always get a task done on time or before a deadline shows you can consistently meet the expectations and requirements of your job, Lieberman said. “Employers want employees they can count on.”
Adaptability
Employees who can adapt to a constantly evolving work environment have a better chance at seeing higher pay, Salahi said. “Companies need employees who can learn new skills quickly and adapt to changing circumstances. Whether mastering new software or new workflows, agility keeps you relevant and valuable, often leading to more opportunities and higher salaries.”
Problem Solving
Don’t underestimate the power of good problem solving. Businesses face challenges daily, and those who can identify, analyze and solve problems effectively are invaluable, Salahi said.
“Develop your critical thinking skills and hone your ability to find creative solutions. Problem solvers are seen as future leaders, often commanding higher salaries and attracting promotions.”
Negotiation
Negotiating isn’t just for pay raises, according to Rhett Stubbendeck, CEO of LeverageRX. “At Leverage, I’ve used it to get better deals with our partners and suppliers. There was this one time I managed to cut a deal with a software provider that saved us 20% each year. It was a big win for us, and it showed me how valuable being a good negotiator can be.”
Analysis
Adam Garcia, a finance and investing expert and owner of The Stock Dork, suggested those who have the brain for analytics will do especially well — and probably make better money, too.
“Skills that directly contribute to your job’s core functions and deliver measurable results, like financial analysis, data analysis, investment management, strategic planning and strong communication, can increase your earning potential at work in finance,” he said.
While these skills do make you more valuable to your employer, thus potentially increasing your pay, they also make you more marketable in general, if you’re ever back on the job market.
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