How do you get a big pay rise? Capsule reader Rebecca secured herself a $30k pay rise, just by doing this one thing…
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As Sim Kaur from Friends Who Invest constantly says, nobody ever saved their way to getting rich – if you want to have more money, you need to make more money or invest wisely.
And in Capsule reader Rebecca’s experience, that’s certainly true. During her working life so far, there’s one thing she has done that she says has helped her generate more money. In fact, she once got a $30,000 pay rise by doing this one thing.
“The one thing that helped me get a $30k pay rise was changing jobs,” she says.
Rebecca says that her advice is to not stay put in one job for too long because companies often pride themselves on having loyal staff members, but many – or even most – don’t actually create any incentives for workers to stay loyal.
“I’d say, don’t stay at your company and in your team for five to ten years because you will not see that sort of pay rise,” she says. “My first employer, a private consultancy, prided itself on many of its staff having been there for years. But they never rewarded the loyalty, you just don’t get large pay rises when you stick around. Employers truly don’t compensate you enough for sticking around so why would you?”
Her advice is to “be brave, start somewhere new, and always negotiate more than they’re offering! I hope this can help someone!”
Many HR specialists agree that changing jobs is often an excellent way to boost your salary, however one NZ recruitment firm says that in the current market, it can be a risky move. Robert Half publishes a salary guide each year after surveying 500 workers. They found that only 43% of workers were committed to sticking with their current position.
“New Zealand employers are being more conservative with their salary increases due to cost pressures on their side, so while pay is a top priority for most due to rising cost of living, professionals should reflect on whether the grass is actually greener when seeking a new role in the current market,” said Robert Half managing director Megan Alexander.