(Money magazine) -- Earnings are a predictor of wealth, so you'll want to raise your ceiling.
Take work on the side. Moonlighting can really pay off.
Seasoned business analysts commanded $50 to $90 an hour for temp work in
the first quarter of 2012, depending on the region, according to
IQNavigator.
Software developers got $78 to $107 an hour. Put in
an extra 15 hours a month on freelance projects at even $55 an hour, and
you'll gross nearly $10,000 more a year.
Become a bonus baby.
Two-thirds of managers and nearly half of exempt salaried employees
got bonuses in 2010, with median targets of 20% and 10% of salary,
respectively, reports WorldatWork.
Getting in on the plan may be a
factor of title, so nose around to see if others at your level get the
bonus and what they had to do to achieve it.
Once
onboard, aim to save 70% of incentive pay, says New Jersey financial
planner Saul Simon of Lincoln Financial Advisors. You'll see nice gains
in net worth in just a few years.
Throw out the first number. People who negotiate starting salaries end up with an average $5,000 more than those who don't, according to a 2010 study.
By talking a salary up from $70,000 to $75,000, someone who got annual increases of 3% would earn $134,352 more over 20 years.
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