8 Stories of People Who Doubled Their Income

He Found a Job That Better Utilized His Skill Set

Allan Liwanag of The Practical Saver has an undergraduate degree in economics as well as an MBA with a specialty in statistical/budget analysis and project management, but when his business went under and he found himself $40,000 in debt, he took the first job he could get — a collection specialist for a healthcare company. The job paid $39,000 a year, and he was the sole breadwinner for his family.

“The job entailed calling delinquent account holders and requesting payments for the services provided to them by the healthcare company I worked for,” he said. “None of the training or technical concepts I learned from both of my degrees were used — but I had to take the job.”

Liwanag knew he’d be better off with a job that actually utilized his skills and education, so he kept applying to jobs that would be a better fit.

“After applying to over 435 jobs for a year and getting interviewed by 10 companies, I landed a job as a financial analyst at an aviation-related company in Maryland,” he said. “My starting salary was $64,000 per year. Since then, my income has [almost doubled]. Now, I’m making a little over $110,000, with a potential salary increase to $125,000 in the next three years. I would never have the opportunity of earning that salary in my old job.”

Why This Worked

“Because the job required in-depth knowledge of project management and budget analysis, the salary offer was way higher than what my last job paid,” said Liwanag. “I was fortunate to meet such requirements. My new job enables me to apply all the training I had in both undergraduate and graduate schools. My bosses have seen my work ethic, professionalism, and products and services I produce, and they have given me salary increases — plus bonuses — year after year. I have also joined several developmental and leadership programs that the company sponsored, which also contributed to both my professional development and the salary increase and bonuses I got.”