How I Doubled My Salary in Less Than Five Years Out of College

double income When I graduated college in 2006, the job market was still pretty healthy. However, unlike my econ and science-major friends who were snagging high-paying, well-respected jobs, jobs for English majors like me were few and far between and not paying very well.  At the time, I was starting to think I should have listened to everyone who asked “What will you ever do with an English major?” But less than five years after college graduation, I had more than doubled my salary—this is how I did it.

Pay Your Dues

All I had coming out of college was a part-time job offer with no health benefits making $11 an hour as a reporter’s assistant for a small metro newspaper.  Having worked there as an intern the previous summer though, I knew that I loved the job and the people and I figured I would make it my mission to land a full-time job. For eight months, I smiled while I did grunt work for anyone that asked. And when the hiring freeze was finally lifted, I was one of the first to land a full-time job—with a pay increase and health benefits. I considered this first full-time job as the starting point in my career.

Always Be on the Lookout for Opportunities

I was thrilled when I finally landed my full-time newspaper reporter job. And for a while, I really thought I would stay there for a very long time. Oh, to be young and naïve.

Within that year, the newspaper was pounded hard by the economy, lay-offs were occurring quarterly, and pay decreases were the norm. As much as I loved the job, I knew I had to get out. When a co-worker mentioned an entry-level position at a small public relations firm, I pounced on it. Two weeks later, I had the job and a $10,000 annual pay increase.

Don’t Wait for Disaster to Strike

An entry-level PR position at a small firm was a great place to gain experience and learn the ropes of a new industry. However, in 2009, the economy pretty much tanked and so did our firm. As soon as it got slow at work, I started looking for a new job. In fact, the week I found out I landed a new job at a national advertising agency, was the week my boss cut my working days from five to three.

My new job came with a $12,000 pay increase. I was feeling pretty good about myself, but it was still mid-2009. And almost as soon as I started my new job, the talk of impending doom started around the water cooler.

Network, Network, Network

I didn’t like the uncertainty at my new job, and the rumors of a large scale lay-off were deafening. So I began my job hunt once again. I reached out to all my friends, all my former supervisors, and colleagues and asked them to please forward my information.

One of my contacts sent me a tip on a Friday morning, and by Monday evening I had landed a new job with a pay increase to boot. I was laid off two weeks later (less than six months after I had started there), and started my new job the next day.

Negotiate and Know Your Worth

The new job had wanted to offer me less than I had been making and I flat out refused. I said, “This is my final offer, take it or leave it.” Luckily, they met my request because I really had no other options, but I refused to go backward and earn less, when I knew what my real worth was.

A year and half later, after a change in management, I was on the job hunt again. This time, it took me six months to land a job. If you’re keeping track, that’s five jobs in five years. When I landed my new job, I had more than doubled my salary from my first full-time job as a newspaper reporter.

To the recent college graduates: don’t get discouraged if you’re not making as much as your friends. Give yourself some time to catch up. Always pay your dues and be on the lookout for opportunities. And when the opportunity presents itself, pounce on it! You too can more than double your income in less than five years out of college.

 

Latest Headlines

Health-care-reform--MGN-

How the Health Insurance Market will be affected by Obamacare in 2014

The Following is a Guest Post from Erica Amalfitano who is a contributing editor for Fortegra Insurance. How the Health Insurance Market will be affected by Obamacare in 2014 The greatest concern for consumers regarding the Obamacare Insurance Mandate is the tax law which is associated with it. Consumers do not like the idea of a [...]

slide-1

Real Estate Rewind | When All the Bubble Trouble Started

Real estate used to be what many regarded as their best investment.  A cash cow which could be used as a safety net in a time of financial need.  Wanna fund your kids college tuition by doing a cash out refi on your primary residence?  That was soooo 2004.  Fast forward to 2013 and we [...]

Tax-Lien-Certs

Seek Investment Freedom With A Self-Directed IRA

A ‘Self-Directed IRA’ is an industry term used to describe an individuals ability to wholly manage their own financial future.  The term is not overtly recognized by the IRS, in fact their website doesnt even utter the words, see here.  I am not sure why this investment process is not publicized by the IRS, but [...]

interview

An Interview With Dr. Josh Umbehr, Real Life Medical Concierge Service Provider

In my quest to educate my readers about the future of our nations Health Care and the ways in which we as citizens (not politicians) can make it better, I am exploring concierge medical care.  I believe that the best Health Care in the world should be a private, consumer based model which is entirely [...]

San-Diego-Home-Sale

Residential Property Inspectors, I Question Their Motives?

Oh, the struggles with selling a home!   We listed our house on March 1 and experienced an overwhelming amount of interest, having close to 75 agency showings in 45 days!   Sounds great huh?  Well it is, except for the fact that once they realized their was no basement in the house, most of [...]

uncle_sam_broke1

7 Gut Checks Regarding The U.S. Debt Problem

As Americans decipher terms like “fiscal cliff” and “higher debt limit” we have to wonder what exactly is going on in Washington.  Do we have confidence that the moves made by the Federal Reserve will  help us, or inevitably drag us into bankruptcy. What are the chances of the government going bankrupt anyway?   How [...]

39224-004-F2B6E54A

A Funny Thing Happened On The Way To The….Mailbox

I had an interesting call from my farm tenant a couple weeks ago who said that there was a note in the her mailbox which she assumed was for me.  It read “I want to buy your house, please call Ms. Thomas”…  Me being the ever inquisitive investor, I promptly called Ms. Thomas.  Turns out [...]

tele

See Your Doctor, And Never Leave Your House? You Can Through The Use Of Telemedicine

Telemedicine is the use of electronic communications such as a video camera, two way radio or a mobile smart phone application to exchange medical information.  It was introduced nearly 40 years ago as a way of providing access to patients in remote locations.  Telemedicine began in rough form by indians who used smoke signals to [...]

Comments

  1. As someone who was laid off after 8 months from the time I started a job out of college, I was so happy to read the Network section. I’d lost so much faith when even my closest friends from my previous job unfriended me on Facebook, of all things. Retracted their recommendations on LinkedIn and turned against me. I was 1,000 miles from home and living on credit. I’m doing well now, but I felt some relief knowing someone was in the same position as me.

    • Hang in there Max, glad to see things are better for you, I hope they continue!!

    • Wow, I cannot imagine! Some people react differently to layoffs than others. But just remember that your network consists of EVERYONE you know, not just old co-workers. Tell everyone you know that you’re looking for a job. Most people love to help other people, it makes them feel good to help someone else out. You never know when someone knows someone that has a job opening.

  2. Thankfully I have not been a victim of layoffs! I’ve seen others caught up in them – sadly, often the more senior and well paid ones, leaving media full of newbies with nobody to guide them. Congratulations on sticking to your guns and getting what you’re worth.

Leave a Reply