Five Ways to Write Your Own Paycheck

Who wouldn't want to add an extra digit to their paycheck every month? If you're in the right job, you can. Independent and commissioned workers decide what's on their paycheck by working harder or more hours. Find out how you can land a job where performance truly pays off.

Sales Representative

Sales representatives earn both a salary and a commission based on how much they sell. Commissions vary, but typically amount to 15 to 20 percent of total earnings. And the sky's the limit: if the sales numbers take off, so does the rep's paycheck. The U.S. Department of Labor reports a $60,190 average for sales representative earnings, and $76,460 for scientific or technical sales reps. But these numbers don't tell the real story: sales reps can double or triple their base salary if they back a lucrative product.

The winning personality that closes sales can't be learned but essential communication and analytical skills can. A college bachelor's degree in communications, business, marketing, public relations, or a related field is standard among sales reps, empowering them to communicate the value of a product more effectively. Technical and scientific sales reps generally have at least a bachelor's degree in a relevant field, such as information technology. For an added competitive edge, independent sales reps may pursue an MBA degree.

Entrepreneur

Business owners literally write their own check. Establishing a business can be a risky venture-50 percent of businesses fail in the first year, according to the U.S. Small Business Administration (SBA). But the fifty percent that survive have the potential to make their owners very rich. And entrepreneurs have the satisfaction of knowing that each hour of hard work benefits them directly, rather than lining someone else's pocket. Earnings range from losses to millions; PayScale and other salary estimators offer average earnings figures ranging from $61,919 to $111,000.

There's no one road to small business ownership, but many successful entrepreneurs start out with an MBA. An MBA in entrepreneurship offers a solid foundation in business skills, with courses in analysis, channel development, and marketing. Entrepreneurs gain the practical skills to take their vision from concept to execution, learning how to finance, manage, and grow a company. Equally important, MBAs have the opportunity to network with other business owners and develop strategic partnerships.
Freelance Paralegal

Paralegals are experiencing unprecedented demand for their services, as law firms shift more and more responsibility from attorneys to support staff. Today's paralegals perform legal research and investigate cases, analyze the information, and prepare reports. In fact, the most accomplished and highly trained paralegals parallel the attorney's role, stopping short only of representing clients in court, giving legal advice, and setting legal fees.

The increasing dependence on paralegals means ample opportunity for independent contractors. Formal training is particularly important for freelance paralegals looking to establish their credentials. A two-year associate's degree is the most common path, followed by the ABA-approved certificate for those who already have a college degree. Many freelancers also pursue certification by the Professional Association of Legal Assistants (PALA). Freelance paralegals command about $40 an hour with three years' experience. Average earnings of all paralegals were $47,600 in 2007.
Nurse

Nurses similarly reap the benefits of accelerating demand for their services by striking out on their own. In addition to regular full-time work at a hospital or clinic, nurses enjoy unlimited potential for per-diem work, overtime, and lucrative traveling assignments. Critical shortages of nurses have led healthcare facilities to adopt emergency stop-gap measures to fill the ranks, offering high wages for nurses willing to show up on short notice and/or to travel to remote locations for temporary assignments. "Travel nursing" can boost earnings up to 20 percent more than regular staff work, according to a 2008 Reuters report. Staff nurses averaged $62,480 in 2007.

Registered nurses may qualify for licensure in three ways: by completing an associate's degree in nursing (ADN), a bachelor's degree in nursing (BSN), or a three-year diploma in registered nursing.
Private Chef

Private chefs essentially run their own business from their kitchen. They may bring in their livelihood through a catering business, by contracting their services as a personal chef, or by establishing their own restaurant. Chefs earned $40,700 in 2007. Private chefs can charge considerably more per hour than their restaurant-based peers, bringing in $20-$25 an hour to start, $35 to $40 with experience. Some report earnings of $300 per day.

Flying solo as a private chef calls on a broader skill set than restaurant work requires, making formal education a must. Cooking schools offer specialized courses for independent chefs, focusing not only on the culinary craft but also on the essentials of running a business.

These independent workers prove that hard work and risk-taking pays dividends on payday. If you're in a position to create value in the marketplace, there's no reason you shouldn't reap the rewards yourself. Striking out on your own guarantees that the fruits of your labor end up where they belong--in your bank account.

source : http://education.yahoo.net/degrees/articles/featured_five_ways_to_write_your_own_paycheck.html