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Pitching for a pay rise

30 NOV 1999 • By Phillip Tarrant • 2 min read • Finance

A few extra dollars in the pocket every month can make the world of difference to the size of your deposit.

rise career

 

Most people balk at the idea of asking for a pay rise, but as the old adage goes: if you don’t ask you don’t get.

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While negotiating a larger salary can be daunting there are ways to help increase your chances of success with your boss.

Show your worth: To have a good shot at earning more money you need to demonstrate to your boss what you are worth to the company. Write a list or report on how you contribute to the business’ bottom line.

 
 

Review your role: Chances are your work description will have changed dramatically since you first started working in your current role. Make a list of any new roles or tasks that you perform and highlight to your boss how this adds to the success of the business.

Do your homework: What are people in similar roles paid in other organisations? A quick search on the internet should help reveal what your going rate may be. If your company is falling short let them know that they are undervaluing you.

The pitch: It’s important to remember that you are going in to negotiate – not to make demands. Prepare a written document outlining the above items and include what you would like as your salary and what you would be prepared to accept as a minimum. Submitting a written document will help to show that you are serious about your request and will help your boss to think of your pay rise as a proper business negotiation.

Consider your timing: Timing can be crucial when asking for a pay rise so try and pick a moment when your boss isn’t rushed off their feet. Friday afternoons are often a good time as your boss can has time to consider your proposal over the weekend.

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Phillip Tarrant

Phillip Tarrant

AUTHOR

Phillip Tarrant is one of Australia’s leading property commentators, with more than a decade at the forefront of conversations shaping the nation’s property investment market.

As the long-time host of the Smart Property Investment Show and a regular commentator across property, finance and business, Phillip has interviewed thousands of investors, economists, advisers, brokers, agents and industry leaders, giving him a unique perspective on the trends, policies and market forces influencing Australian property.

Beyond property commentary in the media, Phillip is an active property investor himself, with first-hand experience building and managing a diversified property portfolio across multiple markets and cycles. His insights combines this practical investor perspective with deep exposure to the broader property and financial services ecosystem.

Phillip is also CEO and co-founder of Managed, an Australian property payments and technology platform transforming the way property managers, landlords and tenants manage rental payments and property transactions.

Through his writing, podcasts and industry engagements, Phillip focuses on cutting through market noise, challenging conventional thinking and helping investors make more informed, strategic decisions. His commentary regularly explores property markets, lending, taxation, regulation, investment strategy and the changing dynamics of Australia’s housing sector.

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