If you are feeling the squeeze of a static pay packet and rising inflation, here’s some tips for increasing your pay or revenue return.
If you are a gig worker or sole trader:
+ Check your prices against both male and female freelancers in your field
+ Charge by the project, not the hour or word-count
+ Increase your prices regularly as your skill level (and inflation) grows
+ Create a rate card and stick to it
+ Focus on how you meet the requirements for a job - not where you fall short
If you’re employed by a company:
+ Head to websites like payscale.com and find out how much others with your title are earning
+ Research current roles on the market and see how much they are offering
+ Measure your contributions to the company in terms of meeting KPIs, earnings you’re bringing in, level of proficiency, unique skills you bring to the role and more
+ Anchor your salary by naming the amount you’d like to be paid
+ Decide if you’re willing to sacrifice pay for other benefits such as flexible working arrangements, increased superannuation, company car, or others
Read more here, or sign up to Signature Membership to get access to our in-depth video masterclass on How to Renegotiate Your Salary. In it you will receive my step-by-step guidance on how to prepare yourself for a pay rise, lock in the meeting and negotiate to receive the pay you deserve and are worth. We’ve seen our members use this method to successfully secure from $5,000 to $80,000 more to their pay packet! As a member, this is just one of the many learning resources you'll have on your very own online portal.
This article was written in partnership with Yahoo Finance.
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