Congratulations are in order—you just elevated your salary! This new season of payment will come with new challenges, but it is a road you are ready for, achiever.
Now that your position has increased your responsibilities, you are now accountable for being more available, more put-together, and more knowledgeable. To that end, there are some actions you can take to support these sweeping changes in your daily work routine.
If you have been getting by or making do with old, out-of-date, and malfunctioning tools, it is time to change that. You will need to be reliable, and thus will need reliable implements to get you there.
For instance, if your car has been putt-putting lately, consider a new Chevrolet for sale. Your gasoline budget, and your ability to consistently get to work on time, will thank you.
To that end, a new or refurbished laptop and cell phone are also necessary to be able to complete work and communicate. Moreover, a new watch with SMS or step-counting features can give you a leg up on emails or securing first place in the corporate wellness competition.
Now is also the time to get serious about financial planning. For one, you now have greater purchasing power toward your 401(K). Maximize the percentage of your income contributions to your plan to help you grow the greatest yield, especially if your company is able to match each contribution for you.
You will want to aim for a mix of securities that capitalizes on your current age and distance from retirement. A person in their 50s will want less stock coverage and more bonds, due to the volatility of the stock market and safety of treasury bonds. However, a person in their 30s can mitigate more risk with a portfolio heavy on stocks and light on bonds as they have more time to make up losses if retirement is farther away.
Now that you are sitting in your new position, you will also want to keep it. Continuing training in your field of work is critical to maintaining your status as the subject matter expert. Often, companies offer tuition assistance or reimbursement for further post-secondary education or industry certifications, which will help you continue to save for retirement.
Local community colleges provide these types of professional development courses at a more reasonable rate than universities. Furthermore, much of the coursework is now digital and can be available online.
Succeed and Stand Out in Your New Position
A new mid-level or senior manager is a sight to behold. They become a fixture of the company. Their face is on the website and the office walls.
How will you leave an impression on your team? Will they know you as the one with more questions than answers, or the stalwart one with the rooted presence? Look into making a few small changes, and then moving on to bigger ones as successes start happening. Your employer will thank you for it.