Prep for a pay rise
Six out of 10 Australians are expecting a pay rise this year, according to research by recruitment company Robert Walters.
Perth director Ryan Hathrill said studies consistently showed that salary was an important factor in any job decision.
Here are his tips for securing an earnings lift:
Gauge company performance Before negotiating a pay rise, research the company’s financial performance. If there have been profit losses or redundancies in the past 12 months, consider your request carefully.
Are you worth it? Be clear about the value you can add by providing firm examples to back yourself up. Write down the value you bring to the business and, if possible, quantify it. Find out your company’s procedure in asking for a pay rise and follow it.
Consider market conditions Is there a shortage of candidates with your skill set in the industry you work in? Have general salaries been rising or falling within the sector? The answers to all will determine whether your request is realistic.
Are there trade-offs? Your new salary may not be as high as you’d like but there could be other benefits such as a company car, free health insurance, gym membership or upskilling.
Benchmark your salary by finding out how much employees carrying out similar roles, in similar companies, are paid. The key is to demonstrate good examples of similar jobs both inside and outside your company.
© The West Australian
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