If there’s one thing Australian women are not great at across the board, it’s negotiating our pay.
While the fact we earn, on average, 84 cents for every dollar a man earns is pretty downright sh*tty, there are some things we can do to boost our salaries.
Because taking control! Challenging gender roles! Being a boss lady! Gettin’ cash money! Chasing your financial dreams! Yada yada yada.
Anyway. Because I am A) a person who possesses fallopian tubes and B) someone who sucks at anything to do with money, I thought I better enlist the help of two business aficionados. Enter: Janine Allis and Naomi Simson, two of Channel 10’s Shark Tank entrepreneurs.
Listen: Naomi Simson on the elusive ‘work life balance’…
Speaking to Mamamia, both experts said there are things women can do to boost their chances of securing a bigger salary.
What to consider before you ask for one
“The absolute must before contemplating asking for a pay rise is establishing whether you know how you make money for the business that you work for,” Simson, the founding director of RedBalloon, told Mamamia.
We need to do more than just meet our KPIs (that’s key performance indicators, for those of you who didn’t pay attention on induction day). We need to illustrate to our boss how much value we add to the company.
“What value do you deliver to the bottom line? How do you add value?” Simson asked. “Remember to consider what is in it for ‘them’? Be clear about why it makes business sense to give you a pay rise.”
For Allis, the founder of Boost Juice, "the biggest preparation you can do before asking for a pay rise, is doing a great job during the year prior to asking for a pay rise!"