How To Negotiate Your Salary & Get A Pay Rise
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What are the key reasons to negotiate your salary?
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Welcome to the Australian Finance Podcast, a podcast for people who want to learn more about their personal finances and get the most from their money. This series is hosted by Kate Campbell from HowToMoney and Owen Rascovich from Rask Finance.
The Australian Finance Podcast is provided for educational purposes only. The information is general in nature and does not take into account your needs, goals or objectives. What that means is the information does not apply to you specifically.
How can you overcome common excuses for not negotiating?
So consider getting the advice of a licensed and trusted professional before acting on the information. Kate, welcome to this episode of the Australian Finance Podcast. What are we talking about today?
An episode that I've wanted to do for a while, negotiating your salary.
Cool. I like it.
Whether it's you're starting a new job and you're negotiating a salary, you're trying to get a pay rise, or maybe you're upgrading your position in your current job.
I like this a lot. When I read what we were talking about, all I read was negotiating. I'm like, negotiating what? When I read salary, I'm like, ah, this is a really relevant episode because anyone can take the advice we're about to give them and use it. It's not like, this is how you invest. This is the account you need, blah, blah, blah, blah. This is your salary we're talking about. Anyone can negotiate or at least try to.
And like we were talking about before the episode, a lot of the investing things, they actually take a bit of work to set up and get started. But if you negotiate your salary and get a 5% pay rise, that's an instant 5% return. Yeah. That's awesome.
That's it.
What strategies can help you prepare for a pay rise conversation?
And if you keep your job, it's ongoing. Yeah, that's awesome. So what we're going to talk about is ways to go about maximizing your chances of getting a pay rise. Yeah.
Approaching that conversation. Yep. Sort of. talking yourself out of these common excuses and some of the things you need to know about and understand when going for a pay rise.
Yep, I like it.
And I think we're coming at it from two different perspectives. Myself as an employee who has gone through this a few times in the workplace and has had the same anxiety of, oh, they won't give it to me. That's too much. Is it fair? And then you're coming from it from an employer's perspective now.
Yep, absolutely. I am now. Yeah, it's a totally different conversation from the other side, I guess. But yeah, there's a lot to, I guess, understand from both sides. And probably hearing it, you know, your side of the fence, my side of the fence, it probably adds a lot of value and helps you recognize what's important to both parties. So, okay, so why don't we start with some of the excuses?
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Chapters
8 chapters
1
What are the key reasons to negotiate your salary?
0:00–1:56
2
How can you overcome common excuses for not negotiating?
1:56–3:02
3
What strategies can help you prepare for a pay rise conversation?
3:02–4:06
4
How do you determine your worth before asking for a raise?
4:06–5:37
5
What are the different numbers to consider in salary negotiations?
5:37–7:12
6
How can you leverage industry standards in your negotiation?
7:12–9:07
7
What non-monetary benefits can you negotiate for?
9:07–10:16
8
How can practicing your negotiation skills improve your confidence?
10:16–29:05
Speakers
3 identifiedMore from Australian Finance Podcast
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