4 Places To Look For Money Besides Your Paycheck

As seen on Forbes.

Feeling underpaid? The first piece of advice is almost always the same: start a side hustle. But in a world that already battles burnout, taking on more work can feel impossible. What if the extra income you’re looking for isn’t in a second job, but hidden inside the one you already have?

Your salary is just one part of your “total compensation,” which includes every single financial benefit your employer offers. With a staggering 86% of employees being confused about their benefits, many risk leaving thousands of dollars on the table.

From forfeiting unused flexible spending accounts (FSA) funds to not getting their full 401(k) match, it’s time to stop leaving that money behind. Here are four places to find that hidden cash at your current job.

1. Maximize Your Learning & Development (L&D) Stipend

One of the most valuable benefits you have is the one that pays you to become more valuable. Employees can get up to $5,250 a year in reimbursements through educational assistance programs per the IRS. This is your company offering to fund your journey to upskill.

You could use this money for high-ROI activities like earning an industry-recognized certification. For example, getting a Salesforce Administrator certification can lead to a significant salary increase, with Glassdoor salary estimates starting at $80,000. Likewise, a certified Project Management Professional (PMP) can earn a 33% higher median salary than their uncertified counterparts.

By using your company’s L&D budget, you’re getting a free ticket to a higher pay bracket.

What to do: Be prepared when asking about whether the benefit exists. Find a specific course or certification that aligns with your career goals and your company’s needs. Present it to your manager with a clear explanation of how it will help you contribute more to the team.

2. Use Every Single Wellness And Commuter Benefit

That line item in your benefits package for a “wellness stipend” may seem small, but it adds up quickly. According to a 2024 survey from Mercer, 64% of employers intend to enhance their health and well-being offerings. These enhancements often come as flexible stipends that cover healthcare expenses.

You know that $75 monthly plan your company offers? Think beyond gym memberships. Many plans now cover fitness classes, meditation apps, therapy, or ergonomic home setups. That’s an extra $900 in tax-free value per year.

Similarly, pre-tax commuter benefits allow you to use pre-tax dollars for parking and transit passes. Any qualified work-related commuting expense could save you hundreds of dollars. Don’t dismiss them as minor perks, as they are a tangible part of your pay.

What to do: Review your employee handbook for a detailed list of all available stipends and reimbursement programs. Create a spreadsheet and track your usage to ensure you claim every dollar you’re entitled to before the year ends.

3. Leverage Your Employee Stock Purchase Plan (ESPP)

Do you work for a publicly traded company? Then the ESPP might be the most powerful wealth-building tool that you’re not using. Put simply, ESPPs let you buy your company’s stock at significant discounts. Data from Aon, cited by the National Center for Employee Ownership, shows that 38% of Russell 3000 companies and 49% of S&P 500 companies offer ESPPs.

Imagine your company’s stock trading at $100 per share. Your company’s ESPP offers a 15% discount. So, you get to buy it for just $85. Depending on your plan, you could sell the stock immediately to make an instant profit of the $15 difference per share. You build wealth directly, and it might turn out to be a better deal than a 401(k) match. It’s a key strategy to maximize your job offer beyond just the salary.

What to do: Check with HR or your benefits portal to see if your company offers an ESPP. Pay close attention to the enrollment dates, the discount percentage, and any holding period requirements for selling the stock.

4. Cash In On Employee Referral Bonuses

Many companies looking for great talent are willing to pay a premium for it. According to the 2023 Employee Benefits Survey of SHRM, 59% of employers offer referral bonuses. Meanwhile, data from Zippia shows the average employee referral bonus is between $1,000 and $5,000. This bonus lets you help a friend and serves as a legitimate and often overlooked income stream.

Instead of waiting passively for someone to ask, become a proactive talent scout for your company. When you see a new role open up, think about the most reliable talents in your professional network. When you have someone in mind, send a thoughtful email introduction to the hiring manager. That single connection could cover next month’s rent.

What to do: Find your company’s referral policy to understand the process and payout. Then, make it a habit to browse your company’s careers page once a month. Actively share relevant roles on LinkedIn or with specific contacts you think would be a great fit.

Before you begin searching for a second job, do a full audit of your current one. By treating your benefits as a concrete part of your total compensation instead of abstract perks, you can unlock thousands of dollars in hidden income. This mindset is one of the best ways to boost your career and your bank account without changing your job title. You’ve already earned it. Now it’s time to claim it. You’ve got this!