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In this episode of the nestegg podcast, David Stratford has a chat with Aberdeen Standard Investments’ head of retirement and product strategy for Australia, Jason Nyilas, to discuss all things retirement.

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Investors will learn the importance of financial advice in retirement, as the default pension options available don’t always match up with personal expectations.

Jason also weighs in on whether the impending retirement income covenant goes far enough in supporting individual member needs.

Thanks, Jason, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Tuesday, 22 October 2019

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How to get a pay rise in 2019

By Cameron Micallef · May 13 2019

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How to get a pay rise in 2019

By Cameron Micallef · May 13 2019

Reading:

Given conditions in the jobs market, now is the perfect time to ask for a pay rise as the demand for employees is growing, with many organisations struggling to attract the right candidates.

Are you in a position to negotiate?

The first question Robert Half suggests asking yourself is: Do I deserve a pay rise? While the easy answer is always yes, try to think through the value that you add to an employer. As employers inevitably know who their most valued staff members are, they are likely to want to hold onto them for as long as possible.

Does the current market help?

As the Robert Half salary guide shows, the current marketplace and benchmarking yourself to it will help employees get the salary they deserve.

If a good employee is being paid on the lower side of the guide, it is recommended that they talk to an employee about pay increase.

The same is true depending on industry. If an employee is in an industry short of talented staff, such as the current Australian IT sector, workers will have greater scope to negotiate a higher salary.

What am I willing to accept?

This is ultimately the most important step in the negotiation process. Does an employee want a higher salary, additional benefits or a combination of both?

As the Robert Half salary guide shows, employees are willing to accept a lot of extra incentives other than a higher salary. Employees want benefits such as working from home and opportunities to learn more skills, something they value more than a higher salary.

Where are all the in-demand roles?

For a breakdown of the skills and industries in demand this year, click here.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leveraging their insights to grow your portfolio.