Asking for a pay rise can be daunting for anyone.
The thought of sitting down for a meeting can be intimidating, especially for those who don’t deal with their bosses on a day-to-day basis.
But with the cost of everyday living skyrocketing, an Australian financial expert said you should consider asking for a pay rise if you know you’re being underpaid.
Here, Money Magazine editor Effie Zahos reveals how to figure out the average salary for your profession – and what to do next if your boss says they simply can’t afford to give you a pay rise.
With the cost of everyday living skyrocketing, a financial expert said you should consider asking for a pay rise if you know you’re being underpaid (stock image)
Money Magazine editor Effie Zahos reveals how to figure out the average salary for your profession – and what to do next if your boss says they simply can’t afford to give you a pay rise
Average salary for jobs
Primary school teacher: $60,835
Bank teller: $41,127
Registered nurse: $48,783-$84,043
Retail Store Manager: $50,379
Graphic Designer: $50,411
Operations Manager: $83,116
Start by working out exactly how much your position is worth.
Speaking to the Today show, Ms Zahos said there are several websites where you can type in your details – and it calculates the average salary of the profession.
She said it was important to understand your average salary or wage comes down to your location, level of expertise and years of experience.
So what should you do if you find out you’re underpaid?
‘At the moment, it’s a really good time to ask for a pay rise,’ she said.
‘The cost of living has actually gone up so we do need wages to go up.’
But if things don’t go your way after your boss turns around and says they simply ‘can’t afford’ to give you a pay rise, Ms Zahos said there are other ways to negotiate for other perks or bonuses.
Registered nurses get paid between $48,783-$84,043 a year while electricians get paid between $47,000-$83,000
Primary school teachers around the country get paid an average of $60,835 per year
‘The cost of living has gone up so you’ve got to think different or smarter how to get it,’ she explained.
‘The number one thing besides a pay rise is flexibility in hours. People are quite happy to say “okay, I’m working really hard, you can’t afford it, let me work four days instead of five days.’
She said other benefits to look at include getting health and wellness incentives through the company or trying to get more annual leave.
If you’re studying, get financial help or even get your phone bill covered.
‘Find other perks. These are dollar values that your employer may be able to afford instead of giving cold hard cash,’ she said.