Three Steps to Earning More In 2013

[image error]New data reveals that salaries are up nationally, shining a glimmer of hope for recent grads, those working in major metro areas and some in popular professions.

Trends in compensation have been pretty volatile since the economy took a hit in 2008 but salaries steady increases in 2012. Last year alone wages grew on average by 3.5%, according to PayScale. That may not sound like much but for an average salary of $43,000, that increase means about $1,500 more annually – plenty to put toward debt, investments or retirement savings.

Another recent survey from the National Association of Colleges and Employers also found that recent college graduates are one group benefiting from increased wages with starting salaries jumping 3.4% last year.

Other key findings: Some fields are making a comeback in the pay department. Jobs in media and publishing, information technology, construction, marketing and advertising led the pack with gains above 4%. Finally, cities that took huge hits when the housing market crashed: Houston, Seattle, Boston, Riverside and Dallas, are all leading in wage gains as the market recovers.

With this good news, you don’t want to get left behind. Whether you’re looking for a job now or already have one, here are three steps towards earning more in 2013.

Know Your Worth

The most critical time in getting the salary you want is before you have the job. Do your research on your industry: where it’s going, what people in your position make and how much you stand to earn over the course of your career. With that in mind, you can find jobs that pay what you’re worth. Sites Glassdoor and PayScale are just two that offer free salary reports on specific positions. You can adjust your search by city and years of experience. Knowing what you should make is a great starting point for negotiating a higher salary, perhaps for finding a new job.

Also See: Jobs That Require No College Degree

Time It Right

Now that you know what’s average for your postion, it’s time to have the conversation with a potential, or current employer. We’ve reported on negations before and the experts agree that the best times to have the tough talk about pay are afteryou’ve recieved an offer for a new job and when you’re up for review. Take those opportunities to express to an employer your value to their business. Maybe you can monetize it in terms of clients, deals and the bottom line. You can also justify more pay based on money saved from efficiency, productivity and added skills that prevent the need for other expenses (e.g. other hires.)

Learn More To Earn More

Finally, a possible way to boost earnings is to continue your education. The 2008 economic recession led to increased enrollment among nontraditional students looking to sharpen their skills to remain competitive in the workplace. Studies show it’s a good strategy, especially as it pertains to raising your income. The National Center for Higher Education Management Systems released a report in December showing, ”that almost without exception, despite variation across states and disciplines, each successive level of higher educational attainment yields additional economic benefit.” And you don’t have to disrupt your life and go back to school to further your education. One option is a certificate program through a major college or university.  Schools like Ohio State University, for example, offer these programs to mid-career professional seeking additional knowledge and training in their field. At OSU, a programs costs about $2,000 and lasts only a semester.

Photo Courtesty,  401(K) 2013.