Learn More 2 Earn More

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There are times, as you climb up the career ladder, that you need a little extra boost. In order to succeed and increase your value in the marketplace, you may need new work-related competencies and skills, current industry-specific knowledge and the right tools to get the job done. Depending on your individual situation, you can choose to get that boost through a degree program, job-specific training or the often-invaluable aid of a coach or mentor.

How do you determine which of these is worth the investment of your time and money? The first step is to ask yourself some key, career status questions.

What skills do I need to improve or develop to handle my work more competently?
For example, am I current with the latest technology? Do I blanch when I am asked to write a report or make a presentation?
How have my career-related interests changed in the past year? Am I paying more attention to human relations at work?
Or, am I developing a new and strong interest in technical issues? Do I find myself saving articles or purchasing books on a particular topic with the hope of educating myself in this new area? What is different about my outlook and focus?
What is my ambition quotient?
Am I thinking that I should have my boss's job, that I have reached my limit in my current position, or do I want to cut back on my hours and travel to find time for a new interest or my family? Do I need to carve out a focus or an expertise?
What problems in my workday cause me to feel inadequate?
No matter what I do to get a handle on this issue, I am stuck. It may be that my boss is unable or unavailable to help. I feel that I require some practical advice.
By analysing your responses to these questions, you are prepared to explore the three most commonly sought-after career advancement options.

The higher education route
People tend to think of the higher education route first when considering ways to improve their professional stature and increase their ability to command higher salaries; and with good reason. Research indicates there is a very direct relationship between levels of income and education. But remember that, while it is certainly a good idea to secure advanced level credentials, formal education requires time and a substantial financial commitment. And anyone who has spent time in a real world corporate environment knows that it takes more than a degree to secure a job in a highly competitive field; it also takes determination, sharply honed people skills and a grasp of specific, job-related skills.

If you are seriously leaning toward higher education for a new degree, you should consider talking to others who have previously earned this credential. Find out if they would do this again. Would they recommend it to you? Is this degree required in their company for the type of job your would like to have next? Sometimes graduates of the program you are considering are available to answer these questions too. Take advantage of this service before you enrol. Taking this step is likely to ensure that you have accurate career outcome expectations.

The training option
If both money and time are limited in your life, you might consider short-term training as a route to career and compensation enhancement.

While a degree program usually requires a long-term commitment and a significant investment of time and money, training is available at various price points and usually requires a short-term commitment. And, while degree programs often include a wide range of general coursework, training is practical and experiential and entrance requirements are generally minimal.

You can often find the training you need through employers, professional associations, private schools and for-profit training organisations. Recently, training programs have been reformatted to suit on-site and classroom settings and distance learning, Internet-based modes. Some of the more popular training programs have focused on developing broad-based skills such as project management, time management and negotiation skills. But you can also seek training that will result in a certificate of competency in a particular field such as employee benefits or Web site design. That certificate then becomes your key to the door marked "Higher Compensation."

The support of a coach or mentor
Perhaps the career survey at the beginning of this article encouraged you to think about finding a coach or mentor. You might recognise that you have been successful, but that you need help to leverage this success for continuing career mobility. A relationship with a coach or mentor, someone who either knows your industry or has a broad view of how to improve performance, might be just what you need.

Coaches are different from mentors, even though these terms are often used interchangeably. Coaches cover a great deal of "territory" with their clients. Their customary approach is to conduct a personal assessment and use this information to assist their clients in establishing goals. These goals can cover areas such as time management, communication effectiveness, dealing with a difficult boss or colleague, learning how to improve team play, getting the most out of a staff and correcting a dysfunctional behaviour.

Mentors work on a slightly different playing field. They focus on grooming their protégés for their next positions, which might even be the ones the mentors themselves are preparing to leave. Their training comes from practical experience, and they use the secrets of the business or the inside story of the industry as their primary tools. They might even make the proper introductions so that their mentees attend the right events and establish relationships with other influential professionals. Some companies set up fast trackers with in-house mentors. If such a program in unavailable in your workplace, look for a mentor among your managers or in your professional association.

Final thoughts
The way you choose to advance your career and boost your marketability is highly individual and dependent upon your goals, finances and stage of career development. Before you make any final decisions, be certain you do some personal homework and marketplace research. This will ensure that you take the right route toward developing your career and adding a few more digits to your salary.