If your goal is to amass enough savings for purchasing a house or retiring prematurely, you might begin by minimizing non-essential expenditures—but there’s a limit to how much you can trim from smaller costs.
The path to achieving genuine advancement involves concentrating on “impact makers,” according to Rachel Camp, who is both a certified financial planner and the founder of Camp Wealth.
previously told careerMake It
.
Camp mentioned that raising your income is a great method to significantly impact those financial targets. Provided you aren’t escalating your living expenses alongside each salary increment, increasing your earnings allows you to allocate greater funds towards achieving your monetary objectives.
Cinneah El Amin
grasps this thoroughly. The 30-year-old product manager and founder of a career and financial education platform is behind this.
Flynanced
more than
doubled her annual salary
From an initial amount of $72,000 in 2017 to $186,000 in 2021. Currently, after almost two years of managing her enterprise exclusively, she earns approximately $190,000 per year as a senior product manager for the federal government.
Below are three recommendations from El Amin aimed at boosting your earnings.
1. Align your skills
Even though El Amin lacked a technical background typical of most product managers, she pinpointed “high-value tasks” inside her organization and reached out to those already engaged in such activities. This helped her determine the necessary skills required for success on their teams, as she mentioned.
In the early stages of her career, El Amin collaborated with numerous teams such as marketing, legal, and engineering on various projects. This experience allowed her not only to familiarize herself with different colleagues but also to demonstrate her skills effectively. When an opening for a managerial position arose within the product development team, all this prior exposure proved beneficial; she secured that job which eventually boosted her earnings beyond six figures annually.
She mentions that from the beginning of her career, she deliberately positioned herself towards a professional trajectory aimed at achieving both higher salaries and greater career advancement.
El Amin frequently motivates her social media audience to leverage their passions and interpersonal strengths like management and communal guidance to transition into more technologically focused positions, which typically offer higher compensation. For instance, individuals who found joy in orchestrating events, heading clubs, and participating in board activities during their college years might aim for lucrative jobs as product or program managers.
posted on X in 2022
.
You might not need to search beyond your present workplace. Various groups of staff members handle these tasks across different sectors, according to El Amin. She mentions, “The simplest approach to shift your abilities towards new professional directions is by initiating this process within your current firm.”
2. Either move up or move out
Even though you might acquire fresh abilities at your present workplace, switching to another firm could provide the necessary shift for securing a substantial salary increase or a promotion.
Employees who switch positions have traditionally experienced quicker increases in pay compared to those who remain with the same employer over time.
information from the Federal Reserve Bank of Atlanta
During the peak of the “Great Resignation” in July 2022, individuals who changed positions experienced an annual wage increase of 8.5%, whereas those who remained employed saw an average yearly growth of only 5.9%.
Beginning in 2019, El Amin switched roles approximately every 18 to 24 months. Although this turnover rate was common for product managers, as she mentions, her objective went beyond just changing positions: “My aim was always to progress further within the company or seek new opportunities elsewhere, ensuring continuous skill enhancement along with an increase in compensation.”
When she switched jobs for the first time, she mentions, ‘I increased my overall pay package by $50,000 within a single year,’ adding that this experience taught her quickly about the benefits of changing employers frequently.
El Amin recognizes that currently it might be a difficult period to land a position at a different firm for many people.
employers have slowed hiring
while bracing for the
effect of President Donald Trump’s tariffs
and a potential recession.
However, it’s wise to stay alert for additional chances if you feel you’ve hit your limits within your present company, she advises.
She remarks, ‘We shouldn’t remain in our current positions past their usefulness.’ Even amidst today’s employment landscape, one must continually evaluate alternatives and explore other opportunities.’
3. Turn your abilities into income beyond traditional work hours
Aside from a two-year stint where she dedicated herself fully to Flynanced, El Amin has managed her business part-time since 2020.
You don’t necessarily have to launch your own venture to generate extra money. However, El Amin suggests leveraging your current abilities to create additional income.
side hustle
that works for you.
She advises, ‘Don’t overlook the opportunity to earn money from your talents beyond your regular work hours.’ She adds that many of us undervalue the natural abilities we possess, which others would gladly compensate us for.
Although content creation and influencer activities frequently appear to be among the
most lucrative side hustles
El Amin suggests that abilities such as accounting, content planning, and data analysis might assist you in generating additional income beyond your primary employment.
“This isn’t about heading out and
learning brand new skills
, but consider these aspects: topics that your friends, family, and colleagues are already approaching you with on the side—they might be areas where you can begin to earn money from,” she explains. “That’s likely one of the avenues you could look into monetizing.
Looking for a new career that offers better pay, more flexibility, or greater fulfillment?
Enroll in Career’s latest online class now.
Ways to Switch Careers and Find More Satisfaction on the Job
Skilled mentors will guide you with techniques to build effective networks, enhance your CV, and smoothly shift into your ideal job role. Begin now and apply the promo code EARLYBIRD for a 30% discount off the $67 fee (+ taxes and fees) until May 13, 2025.
Plus,
subscribe to CareerMade’s newsletter
To acquire advice and strategies for achieving success at your job, managing finances, and navigating everyday life.