Doing This 1 Thing Could Increase Your Earning Potential For The Rest Of Your Career

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April 13, 2024 at 10:36AM UTC
Have you ever considered moving — potentially abroad, even — for a job?
Moving for a job can inject some serious energy into your career — as well as some serious cash. Typically, companies are willing to reward a major investment on the part of employees like this with some financial padding. Leaving behind one's support system can be scary, no doubt, but in many industries, being willing to go where the opportunity leads you is one of the biggest determiners of success. And depending on your personality type, relocating for a new job opportunity may actually seem energizing, rather than just plain terrifying. But whatever your gut reaction to the idea may be, here are some things you should think about:
1) Does this make a meaningful impact to my future career path?
Spend some time with a pen and piece of paper. Map out your career path based on everything you know about your current role. Then do the same for the potential opportunity. Do you think this move will dramatically change your path? Will it provide a greater range of potential opportunities for you down the road?
If this job will help you change industries or paths in a way  you otherwise couldn’t, you may find that the job is probably worth the move.
2) Are you going to earn substantially more in the mid-term?
Clearly, if the offer is significantly higher than you’re currently being paid, you may not even bother to read this article. But if the opportunity pays only a little more than what you currently earn, you should consider how the move might impact your earning potential down the road. Do you think you’ll develop skills that are more marketable? Do you think people may earn more in the region you’d relocate to? Do you think it will set your salary bar higher?
Since right now most employers still ask for your current salary, any chance to log a higher salary will set you up for higher income in the future. So if your salary grows by 30% or more with this job offer, you may find it sets you up for a long time to come...even if you decide to move back home after a while.
3) How are my costs going to change?
Don’t forget that cost-of-living can vary dramatically in different parts of the U.S. When I once moved from NYC to Chicago, I was shocked by how much farther my money went. And, because New York City has city taxes but Chicago has none, my take-home pay increased dramatically.
If you’re thinking about moving abroad, ex-pat packages can vary dramatically. Usually, they work well in your favor, but currency fluctuations can add a layer of uncertainty.
If you’re considering relocating, you should build a clear-cut excel spreadsheet and take a look at what your spending power and monthly budget will look like in your new home.
4) What will the impact be on my family?
Of course, this is possibly the most important criterion of this decision-making process. But do remember that families are remarkably flexible. Children learn and grow tremendously from the experience of moving to a new place.
And, technology is better than ever. If, for example, you’re concerned about moving far from your parents or extended family, remember that Skype or FaceTime make communication so easy. 
There have definitely been times in my life when I’ve held off moving far away because I was afraid to leave my routine. There are many reasons to move or not, but don’t let fear or apprehension be a guiding force. Instead, think rationally about the opportunity and if it’s substantial enough, dive in!
And, check out jobs at these 5 Companies Worth Moving For:
1. Zynga
Everyday, millions of people play Zynga games like Farmville, Words With Friends and Poker. Zynga is growing quickly, and uniting fun and social to create a great experience for its users. Zynga is hiring lots of roles. Now’s a great time to join this great corporate culture in a fast-growing industry.
2. Johnson & Johnson
Imagine the purpose your day would have if you knew that in addition to getting through your to-do list, your work was helping to save lives. That’s the remarkable experience that thousands of people who work for Johnson & Johnson enjoy every day. So it’s worth considering a move to the Princeton, NJ area to join J&J.
3. OnDeck
FinTech is one of the fastest growing industries out there, and OnDeck is one of the leading companies in the space. FinTech has a smart, customer-driven strategy -- and it is a company focused on creating a great experience for its employees. OnDeck is based in New York, but it is also hiring jobs in Arlington, VA and Denver, Co. See if a job at OnDeck suits your background.
4. Apple
Sometimes your earning potential can be dramatically enhanced by the names of the companies on your resume. Few company names mean so much to future employers as Apple. There are lots of opportunities for you to take the next step of your career inside the storied walls of the Cupertino, CA Apple headquarters. Check out jobs at Apple now on Fairygodboss.
5. Square
Square is at the forefront of revolutionizing the way people pay for goods and services. The company itself is a hub of innovation, but it’s also a great culture with everything from flexible working arrangements to movie nights. Square is young and growing fast, and now is the right time to join. Check out jobs at Square here in San Francisco and New York City.


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