Most career advisors give you the advice to climb the corporate ladder slowly and always be on the lookout for the next promotion. However, anybody who’s tried this will know that it takes a long time to move upwards in a company, even if you feel you already have the skills to do it.
When you pivot, you automatically insert yourself into high-demand positions. Here are some of the ways it can boost the amount of money you earn:
You can capitalise on job hopping premiums
The most obvious reason a quick career pivot boosts your income is that you’re able to capitalise on job-hopping premiums. Many employers are often willing to pay you more if you are able to fill a position quickly, even if it means moving horizontally from your existing position. Sometimes they will base your salary on current market values and future potential rather than your past salary history. This is something that happens all the time in the corporate world, so it’s well worth trying if you haven’t done so already.
You can find a more lucrative niche
You can also fast-track into a high-yield niche. For example, let’s say that you’re a general web designer right now. If you can pivot to a conversion rate optimisation specialist, then you’re much more likely to find business.
Similarly, if you are currently a healthcare assistant, you might want to explore EMT scholarships. These allow you to train in in-demand work that also improves your skills at the same time.
You can take advantage of accumulated transferable skills
Sometimes professionals underestimate the value of the skills they have in the modern marketplace. They think that just because they’ve developed skills for one job, they’re not applicable to another. That’s rarely the case. Many skills are relevant in adjacent industries, and these sectors are willing to pay a premium for them, perhaps because they’re less publicised or aren’t as popular.
Many individuals who take advantage of their transferable skills see pay increases of between 20% and 40%, often because the industry they’re transferring into has higher baseline profitability. These quick pivots can be highly effective and even lead to more lucrative and fulfilling careers.
You can break the income ceiling by learning digital skills
Traditional degrees take years to complete, but high-income digital skills can help break income ceilings quickly.
For example, let’s say that you have a degree in economics but you want a career in marketing. Perhaps you understand how the economy functions on an abstract level, but you don’t really know what it takes to get people to buy, which is something that the market values highly. If you pivot to studying marketing, then you can go into companies and offer them marketing management services that can vastly increase your pay. Heads of marketing often earn commission-based income, so the better you are at your craft, the higher the paycheck you receive at the end of the month.
So there you have it, some of the ways a quick career pivot can boost your income substantially.
collaborative post