A common phenomena confining the representation quality in Self-Supervised Learning (SSL) is dimensional collapse (also known as rank degeneration), where the learned representations are mapped to a low dimensional subspace of the representation space. The State-of-the-Art SSL methods have shown to suffer from dimensional collapse and fall behind maintaining full rank. Recent approaches to prevent this problem have proposed using contrastive losses, regularization techniques, or architectural tricks. We propose WERank, a new regularizer on the weight parameters of the network to prevent rank degeneration at different layers of the network. We provide empirical evidence and mathematical justification to demonstrate the effectiveness of the proposed regularization method in preventing dimensional collapse. We verify the impact of WERank on graph SSL where dimensional collapse is more pronounced due to the lack of proper data augmentation. We empirically demonstrate that WERank is effective in helping BYOL to achieve higher rank during SSL pre-training and consequently downstream accuracy during evaluation probing. Ablation studies and experimental analysis shed lights on the underlying factors behind the performance gains of the proposed approach.