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Pitching for a pay rise

finance-advice
1 minute read

Pitching for a pay rise

by Phillip Tarrant 30 November 1999 1 minute read

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

November 30, 1999

 

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.

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.

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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.

Pitching for a pay rise
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About the author

Phillip Tarrant

Phillip Tarrant

Phillip Tarrant is executive editor – Real Estate at Momentum Media. He is also an investor with a large property portfolio.

He leads the content strategy and corporate growth for a range of market and business intelligence platforms at Momentum Media, including Smart Property Investment – the authoritative voice for Australia’s property investment community.

As head of the Smart Property Investment Podcast Network, he also steers the largest network of property podcasts in Australia, which collectively generates nearly 2 million downloads every year.

There are over 2.6 million investment properties in Australia, with over 2.1 million Australians (or around 8 per cent of all Australians) owning one or more investment properties. A vibrant and critical sector for... Read more

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