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How to look for a new job with a better salary

By Louise Chan · January 03 2020
Reading:
egg

Earn

How to look for a new job with a better salary

By Louise Chan
January 03 2020
Reading:
egg
how to look for a new job with a better salary

How to look for a new job with a better salary

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By Louise Chan · January 03 2020
Reading:
egg
how to look for a new job with a better salary

According to the Australian Bureau of Statistics, there were 12.7 million employed individuals in Australia in February 2019 and 8.5 per cent of this number switched jobs.

Among the job switchers, 35 per cent of males and 28 per cent of females switched employers to secure a better pay package and benefits.

You may be underpaid in your current role, but there’s no reason to stay that way or accept a less favourable job package.

You need to believe that you’re worth the amount you’re asking for, but you also need to back up your belief with evidence. Present what you can offer the company during your interview to prove that you can deliver quality work for them.

How to package yourself up for a higher salary?

If you want to be assured a better salary package with a new company, you need to sell yourself as a valuable asset that would be favourable for the company to have.

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Evaluate your value
Go through all the work you’ve done for the company and create a list of your accomplishments that helped the business. 

Showing that you have consistently met or exceeded the monthly quota or if you have led and delivered a significant project for the team will definitely help with your argument. 

Research the current market value
Ask employees with the same role and level of experience how much their salaries are. If you know recruiters or someone from your company’s human resources department, you may also ask them about the salary range for your role and level of experience.

Likewise, you may ask your friends and industry peers or in online forums.

Just make sure to consider only the responses within your location because jobs in different locations have different salary ranges.

Consider a salary range but ask for a higher amount
Once you know your role’s market value, come up with an acceptable range for you – then ask for a specific amount closer to the top of the range.

Your employer would most likely begin negotiations with a value closer to the bottom of the range. So, if you ask for the median amount, you may receive a lesser amount than you wanted.

Be firm but flexible
If the company refuses to get close to your preferred range, don’t be afraid to turn down the offer – but be polite with your refusal.

However, you should also remember that your job package doesn’t revolve around the money you receive.

Be flexible with the terms of your potential employment, especially if the employer is willing to offer you more or better benefits in exchange for the finances they can’t provide.

For instance, they may not be able to give your asking salary, but they’re willing to offer extra leaves, work from home arrangements, flexible hours and other fringe benefits.

How to look for a new job with a better salary
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About the author

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

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About the author

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

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