What do you do if your electrical engineering salary doesn't match the cost of living in your location?

1 Negotiate your salary or raise

One of the most effective ways to increase your income as an electrical engineer is to negotiate your salary or raise. Don't be afraid to ask for what you deserve, based on your skills, experience, performance, and market value. Do some research on the average pay for your role and location, and prepare a strong case for why you should get more. Be confident, respectful, and realistic, and avoid ultimatums or threats. If your employer can't offer you more money, you can also negotiate for other benefits, such as flexible hours, remote work, bonuses, or stock options.

2 Look for side hustles or freelance projects

Another option to boost your income as an electrical engineer is to look for side hustles or freelance projects that match your expertise and interests. You can use platforms like Upwork, Fiverr, or Freelancer to find clients who need your services, such as designing circuits, testing devices, or debugging software. You can also create your own products, such as apps, games, or tutorials, and sell them online. However, make sure you don't violate any non-compete or confidentiality agreements with your employer, and balance your workload with your main job and personal life.

3 Cut down on unnecessary expenses

While increasing your income is important, you can also improve your financial situation by cutting down on unnecessary expenses. You can start by tracking your spending habits and creating a realistic budget that covers your essential needs and savings goals. You can then look for ways to reduce your costs, such as switching to a cheaper phone plan, using public transportation, cooking at home, or sharing a room with a roommate. You can also save money by taking advantage of discounts, coupons, or free resources for electrical engineers, such as online courses, books, or software.

4 Relocate to a more affordable location

If you still find it hard to make ends meet in your current location, you may want to consider relocating to a more affordable location. You can research the cost of living and the demand for electrical engineers in different cities or countries, and see if you can find a better opportunity that suits your needs and preferences. You can also ask your employer if they offer relocation assistance or remote work options, which can make your transition easier. However, before you make a move, weigh the pros and cons of leaving your current network, culture, and lifestyle.

5 Upgrade your skills and credentials

Finally, you can increase your value and income as an electrical engineer by upgrading your skills and credentials. You can enroll in online courses, certifications, or degrees that can help you learn new technologies, tools, or methods in your field. You can also join professional associations, networks, or communities that can help you expand your knowledge, connections, and opportunities. By investing in your education and development, you can enhance your resume, portfolio, and reputation, and stand out from the competition.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?