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Pay-rise Schmay-rise! · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
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Speaker 1: the Order Kerney Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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Speaker 1: of which this podcast is recorded on a wondery country,
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Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
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Speaker 1: today and lasting impact for tomorrow.
0:33
Speaker 2: Let's get into it. She's on the Money.
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Speaker 3: She's on the Money.
0:57
Speaker 2: Hello, and welcome to She's on the Money, the podcast
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Speaker 2: for millennials who want financial freedom. Today, my friends, is Friday,
1:04
Speaker 2: which means it is time to get our little team
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Speaker 2: together and celebrate you how incredible she is on the
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Speaker 2: Money community today, Jess, go to your cheer over there. Hi,
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Speaker 2: my friend. She is going to be sharing our favorite
1:15
Speaker 2: money wins. We're going to be helping to answer a
1:17
Speaker 2: juicy money dilemma, which this week is all about discussing
1:20
Speaker 2: your salary expectations in a job interview. And we're going
1:23
Speaker 2: to be unpacking something you slid into our DMS about
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Speaker 2: which this week is all about employer remuneration and asking
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Speaker 2: for a raise. So let's get into it. My friends, Beck,
1:34
Speaker 2: how has your week been?
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Speaker 1: Hi?
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Speaker 2: Pretty good?
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Speaker 4: Slow, really slow, housing out produces out of the moment.
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Speaker 2: So oh yeah, wait, does that mean you've got a cat?
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Speaker 3: I've got a cat.
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Speaker 4: We've got a cat, and honestly, I've never taken care
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Speaker 4: of a cat before.
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Speaker 2: My world has changed.
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Speaker 4: Like I'm out of the pub, but I have to
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Speaker 4: go home at five o'clock to feed something and.
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Speaker 2: Make sure it's still alive.
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Speaker 4: And I don't actually know what this world is we converted?
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Speaker 3: Now you a cat person?
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Speaker 2: I think I'm pretty cool.
2:00
Speaker 4: Yeah, I think I'm pretty close to me.
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Speaker 2: I don't want this line, do you do? Our producer,
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Speaker 2: for those of you following along at home, has a
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Speaker 2: beautiful Burmese called Jean Parmesan is a brown Burmese, so
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Speaker 2: he's like a chalky color and he is the most
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Speaker 2: friendly boy. So tell us, Beck, where is he sleeping?
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Speaker 4: I don't know because he leaves the room and only
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Speaker 4: just told me that he would be sleeping with me
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Speaker 4: right against me, but he is avoiding me at all costs.
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Speaker 3: That's making you feel bad.
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Speaker 2: I'm like, what, he's trying to stop himself from falling
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Speaker 2: in love with you. I think that's what it is.
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Speaker 4: I think that's why I'm also still single. Everyone's just
2:45
Speaker 4: scared they'll fall deeply in love with you. It's terrifying.
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Speaker 2: I'm really scared of as well. I get it, you're
2:51
Speaker 2: only happens to dress all the time. Jess, how's your
2:53
Speaker 2: week ban? Have you accidentally fallen in love?
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Speaker 3: I haven't, But you know what, I don't know if
2:57
Speaker 3: mekeur is in retrograde mercury has to be. I'm feeling
3:01
Speaker 3: frazzled for no good reason either, Like it's not as
3:04
Speaker 3: if anything's gone drastically wrong, but I think I just
3:07
Speaker 3: started off my Monday feeling like I didn't know I
3:10
Speaker 3: had from my toes, and then yeah, it's just continued
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Speaker 3: through the week a little bit with these crazy things.
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Speaker 4: Yeah, it's scared that something is about to constantly about
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Speaker 4: to go wrong.
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Speaker 2: So that makes sense, Like you're on my edge.
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Speaker 4: You're so frizzled that nothing's gone wrong yet, but any
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Speaker 4: second now something will.
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Speaker 3: Yes, I think so. And it was really funny. I
3:28
Speaker 3: was having a moment. The other day, I had no
3:30
Speaker 3: pepsi Max left in the house, not no, I was
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Speaker 3: dealing with a crisis and all I had was solo,
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Speaker 3: and it was It's things like that that are just
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Speaker 3: so first world and inconsequential and absolutely ridiculously stupid. And
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Speaker 3: I'm embarrassed that I'm even admitting them out loud. But
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Speaker 3: it's just the compounding impact of like lots of teeny
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Speaker 3: tiny little things going wrong, but I'm making me go,
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Speaker 3: oh my god, like I just can't this week.
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Speaker 2: I feel like that happens all the time to me,
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Speaker 2: because if something actually goes into crisis, I seem to
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Speaker 2: switch into crisis mode and I'm really good with dealing
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Speaker 2: with it. Like I'll be like, okay, cool, well, Beck,
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Speaker 2: you need to do this, and Jess, could you please
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Speaker 2: Xyza doesn't matter work or life. I lose my shoe,
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Speaker 2: I'm done. Yeah, I'm done. We are having a meltdown.
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Speaker 2: I am not going to deal with that. Well. I
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Speaker 2: will cry, I'll be hysteric, i will literally be a
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Speaker 2: little nightmare. But then you'll be like, oh v this actual,
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Speaker 2: really big crisis happened, and I'll be like, oh, no,
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Speaker 2: worries I'll pull my stuff together because I have every
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Speaker 2: single ability to lead you in a crisis personal crisis. Though,
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Speaker 2: when I lost a shoe different straight well, like we
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Speaker 2: ran out of tea bags the other day and I cried,
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Speaker 2: like what is wrong with me?
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Speaker 3: That's fair, just a moment, mercury. She's doing her things.
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Speaker 2: She's doing a thing. Something in the microwave. I don't know.
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Speaker 2: I don't know.
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Speaker 3: Gatorad.
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Speaker 2: Yeah, in the gatorade in the microwave, like I don't know.
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Speaker 2: Like someone's done it and they cooked it on high.
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Speaker 2: Like I'm not interested. So, Jess, let's talk about something
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Speaker 2: that is interesting, which is our community money wins. Every
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Speaker 2: single week we go through these, and they one of
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Speaker 2: my favorite things. Just sit on my phone and perve
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Speaker 2: on what have you pulled out as your favorites of.
5:00
Speaker 3: So this week I have a money win from Laura,
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Speaker 3: who says I received a scholarship to do some post
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Speaker 3: grad study. I originally thought it would cover the cost
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Speaker 3: of ten K, but they emailed me to say I'd
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Speaker 3: only get seven point five. I wrote a polite email
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Speaker 3: asking why I wasn't getting the full amount reimbursed, and
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Speaker 3: they've since emailed back saying they made an error and
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Speaker 3: I'll actually get fifteen, not only covering the cost of
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Speaker 3: the course, but the time for me to study as well.
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Speaker 2: Money win and also pays to ask, doesn't it?
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Speaker 3: Just ask the question?
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Speaker 2: Just ask us. One thing they could say is no.
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Speaker 3: One thousand percent. My next money win comes from Joe,
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Speaker 3: who said, money win, my fiance proposed with his grandmother's ring.
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Speaker 2: No, that's so wholesome, right.
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Speaker 3: Money loss. It will need to be resized, but that
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Speaker 3: beats the cost of a new engagement ring from a jeweler. Absolutely, yee.
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Speaker 2: Still money win. Still, that's sick.
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Speaker 3: And there's a bunch of comments saying congratulations do you
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Speaker 3: We're so excited for you. My next money win comes
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Speaker 3: from Ilona, who said, got our lease renewed last week
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Speaker 3: with an increase in our rent, of course, by one
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Speaker 3: hundred dollars a week. I emailed the real estate agent
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Speaker 3: to negotiate it down to an eighty dollars increase, and
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Speaker 3: the owner agreed to it. Small money win from now,
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Speaker 3: money loss from August when the inn prease rent kicks in,
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Speaker 3: but put.
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Speaker 2: On you for negotiating it. I feel like they're going
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Speaker 2: up really, really steeply at the moment, and it's always
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Speaker 2: worth a crack.
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Speaker 3: There's a post on our Instagram at She's in the
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Speaker 3: money AUS. We put in a little scripty script with
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Speaker 3: some suggestions of things you could say to your landlord
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Speaker 3: or your property manager if they do email you with
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Speaker 3: a rent increase. So if you're in the same boat
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Speaker 3: as a learner, it might be worth going back and
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Speaker 3: getting a little help from there. My next money comes
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Speaker 3: from Catherine, who said, one of my colleagues suggested I
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Speaker 3: request higher duty's allowance to be paid as my supervisor
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Speaker 3: has left and I'm assuming a lot of his workload.
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Speaker 3: Raise the paperwork on Friday and it was signed today.
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Speaker 3: And the best part is it was backdated to the
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Speaker 3: seventh of April when my old supervisor left.
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Speaker 2: Oh my gosh, how is that also good on your
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Speaker 2: business for backdating? And I feel like that never happens.
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Speaker 2: They're like, string it out and string it out, and
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Speaker 2: then they're like, oh, we'll start on the first of July.
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Speaker 2: So you're doing that job until the first of July
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Speaker 2: for three Yeah. And also, I'd never thought about allowance.
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Speaker 2: If you're taking over a role temporarily while someone's gone,
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Speaker 2: you know that should be standard.
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Speaker 3: Yeah, we've spoken before about how like if someone leaves
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Speaker 3: and you take on their job, you shask for a raise.
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Speaker 3: But if you're doing it temporarily and maybe your management say,
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Speaker 3: oh no, we can't do that. You're only looking after
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Speaker 3: it for six weeks, maybe an allowance is the way
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Speaker 3: to go very much business. I think so as well.
7:15
Speaker 3: My next money win comes from Becky, who said money win.
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Speaker 3: I've been making myself a nice breakfast on the weekends
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Speaker 3: instead of going out for breakfast or grabbing something on
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Speaker 3: the go. It's amazing to see how easy it is
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Speaker 3: to pop some bacon, an egg and an avocado on
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Speaker 3: a bagel and such a good feeling, not spending thirty dollars.
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Speaker 3: And to be honest, she put in a photo it
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Speaker 3: looks like brunch that was gone now it does, doesn't it?
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Speaker 3: Well done, Becky. And then my last one this week
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Speaker 3: from Amanda said, SotM will appreciate this. I got a
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Speaker 3: free container of minor figures oat milk in my Fortnightly
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Speaker 3: Farmers Pick Fresh Fruit and vegebox.
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Speaker 2: Oh that's the money wee. I feel like oat milk
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Speaker 2: is increasing at the same rate as inflation. Leader. That's
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Speaker 2: at least what it costs I paid a million dollars
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Speaker 2: a couple of weeks. That's absolutely cooked. All right, let's
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Speaker 2: go to a quick break before we start making up
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Speaker 2: even more. Don't go anywhere.
8:05
Speaker 3: Welcome back, everybody. Let's take a listen to this week's
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Speaker 3: money dilemma.
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Speaker 2: Hi. There, have you got a money dilemma you just
8:14
Speaker 2: can't solve? The Sheese on the Money team is here
8:16
Speaker 2: to help. Every week, we tackle your dilemmas, both big
8:19
Speaker 2: and small, to answer your most burning money, career and
8:22
Speaker 2: life questions. To get involved, simply head to our website
8:25
Speaker 2: and leave us a short voice recording and you might
8:28
Speaker 2: just find yourself on the show. Now, let's take a
8:30
Speaker 2: listen to this week's money dilemma.
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Speaker 5: Hi, Victoria. I've been applying for jobs in an industry
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Speaker 5: that is new to me. Some of the online applications
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Speaker 5: ask for an expected salary, and I never know how
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Speaker 5: to answer that question or what consequences the answer will have.
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Speaker 5: I have arranged in mind that I think would be
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Speaker 5: fair and I'll be willing to accept, but I don't
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Speaker 5: know if I'm lowbuling myself and what if that bites
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Speaker 5: me in the bum later or if I'm putting an
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Speaker 5: arrange its way over what the job is worth and
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Speaker 5: my application might not be considered.
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Speaker 2: Because of this.
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Speaker 5: Any help on this would be amazing.
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Speaker 2: Thank you. This one is spicy because I get where
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Speaker 2: she's coming from. Like when she said and what consequences
9:11
Speaker 2: answering that carries, I was like, yeah, that's exactly how
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Speaker 2: I feel about it. What would you guys do? That's
9:17
Speaker 2: a really good question.
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Speaker 4: I shouldn't do this, but I always lowball because I
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Speaker 4: am scared, And if, like I put what I really
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Speaker 4: actually want, then they will whoever's recruiting, will just skip
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Speaker 4: right past me because they can get someone a little
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Speaker 4: bit cheaper, probably the same qualifications, the same skills, what
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Speaker 4: do you call it, experience experience, same experience.
9:38
Speaker 2: Skills, whatever you want to call it, what you're actually
9:40
Speaker 2: bringing to the table, because like, you are a really
9:43
Speaker 2: good cook, so that could be put up for collateral.
9:46
Speaker 2: You think I'm a really good cook. I mean you
9:48
Speaker 2: can cook toast, right, I'm really pretty good a toast.
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Speaker 4: I've actually been complimented on my toast. Yea all the
9:54
Speaker 4: way to this to the exactly.
9:59
Speaker 2: To the grass. What do you go to have the
10:01
Speaker 2: worst part with no butter, Yeah, exactly the worst part. Sorry,
10:06
Speaker 2: what crust is the best beer?
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Speaker 3: Oh?
10:09
Speaker 2: I did not know this vote? Look at you anymore?
10:12
Speaker 2: Is she joking? Is she just trying to make this
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Speaker 2: contentris objectively?
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Speaker 3: With any food? Crispy bit is the best bit? Is
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Speaker 3: the crispy bit.
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Speaker 2: Of the bread? No, no, no.
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Speaker 4: I do like the ugly slice of the bread though,
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Speaker 4: that's what tily crust?
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Speaker 1: Do you mean?
10:29
Speaker 3: See that's my caveat. I don't like the butt piece.
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Speaker 4: I see you call it a butt I actually want
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Speaker 4: to know what everyone calls the ugly slice.
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Speaker 2: Maybe we can we want.
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Speaker 3: I want to know. He just calls it the butt piece,
10:43
Speaker 3: but I swear that's really normal. Sorry.
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Speaker 2: The end of the bread, Oh, the end of the bread,
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Speaker 2: that's okay, But in the middle yours.
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Speaker 3: If you're sitting in your butt's the end?
11:00
Speaker 2: But is only the end anyway? Somebody's broken a very
11:04
Speaker 2: serious you need to answer. I'm also called I have
11:14
Speaker 2: been like, hey, Steve, I'm making toast, but all I've
11:18
Speaker 2: got left is this rerange.
11:21
Speaker 3: No, I mean, your buddy is called a red I'm
11:26
Speaker 3: still just that is the end of the human right
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Speaker 3: with you?
11:30
Speaker 2: You are sorry? We need a baker. We need a
11:33
Speaker 2: baker curious in retrograde or gatorades in the microwave.
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Speaker 3: But I'm done, Sorry, sorry, back contract, I'm done, beck
11:43
Speaker 3: back on track.
11:44
Speaker 2: So you just you would lowball it?
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Speaker 4: I yes, basically I lobell it. I don't think it's
11:48
Speaker 4: the right answer though, but I lowball it.
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Speaker 2: Yeah, Okay, Jess used to work in recruitment, so I
11:53
Speaker 2: feel like you're going to camper very intellectual answer, and
11:55
Speaker 2: so we'll probably wrap it up here. What's yours?
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Speaker 3: Low Balling is definitely not the right answer. It's good,
12:01
Speaker 3: but at least in you. So realistically, any recruiter is
12:05
Speaker 3: going to try and negotiate you down. So always shoot up,
12:09
Speaker 3: even if what you say is within the range. I mean,
12:12
Speaker 3: I say recruiter, and I know that people who work
12:14
Speaker 3: in recruitment will DM me if I don't put the
12:15
Speaker 3: caveat on it. No, it won't be recruiter, it won't
12:18
Speaker 3: be them doing it. The company will always come back
12:21
Speaker 3: and try and negotiate down.
12:23
Speaker 2: That it's their job to do it.
12:24
Speaker 3: Yeah, even if you say I want to earn seventy
12:26
Speaker 3: thousand and their range was sixty to eighty, they're still
12:29
Speaker 3: going to try and negotiate. It's just how that works
12:31
Speaker 3: as a company. So I say, always, always, always overshoot,
12:34
Speaker 3: because then you have room to negotiate down to somewhere
12:36
Speaker 3: where you're happy. I wouldn't be too stressed about setting
12:41
Speaker 3: your expectation too high. I think if you tacked one
12:45
Speaker 3: hundred grand on, people would probably be like, okay, like
12:47
Speaker 3: you're clearly But I think that is more of a
12:50
Speaker 3: reflection that you don't have an understanding of that role.
12:54
Speaker 3: Because if you know your job, if you know what
12:55
Speaker 3: you're doing, and you have kept an eye on the market,
12:58
Speaker 3: you should theoretically have a decent understanding of the value
13:01
Speaker 3: of that role. And if you don't, you can do
13:02
Speaker 3: some research. We've spoken about that on the pod before.
13:05
Speaker 3: So it's more of a red flag in the sense
13:07
Speaker 3: that you would probably go, oh, they don't really seem
13:09
Speaker 3: like they know what they're talking about. If your salary
13:11
Speaker 3: expectation is, you know, twenty thirty thousand, higher chances are
13:15
Speaker 3: you'll still go through the interview process, and if they
13:17
Speaker 3: really like you, they'll just try and negotiate you down
13:20
Speaker 3: because they always want the most skilled person possible kind
13:24
Speaker 3: of the least amount of money. Possible, and then you're
13:26
Speaker 3: meeting in the middle somewhere. And that's not always the cruiter,
13:29
Speaker 3: like I said, it is often the employer doing that,
13:31
Speaker 3: and not every employer is like that, but most commonly
13:35
Speaker 3: that's kind of the thread that I saw happening.
13:38
Speaker 2: Yeah, so I guess I'm coming to this from the
13:41
Speaker 2: perspective of somebody who has applied for jobs, and so
13:45
Speaker 2: I really resonate with you, Beck because I feel like
13:47
Speaker 2: I used to lowball it because you'd be like, well,
13:49
Speaker 2: they're just going to write off my salary or not
13:51
Speaker 2: even look at my CV if I put it too high.
13:53
Speaker 2: Not the case, because on the flip side, I also
13:56
Speaker 2: am an employer and we do all of our own
13:58
Speaker 2: recruitment internally outsource that I actually do it myself because
14:02
Speaker 2: I think that's helping me build my team, if that
14:05
Speaker 2: makes sense, Like I want to have control over that process.
14:08
Speaker 2: But we don't ask in the application phase. We actually
14:10
Speaker 2: ask in their first phone call, so we always do.
14:13
Speaker 2: I guess this is just that she's on the money process.
14:15
Speaker 2: You apply for the job, there would be like a
14:16
Speaker 2: telephone call to like have a chat and prevet and
14:19
Speaker 2: you know, go through a few like what would you
14:21
Speaker 2: say like hygiene questions like when, where, how, why, how
14:24
Speaker 2: far can you jump? Kind of thing, and then if
14:27
Speaker 2: you're successful at that will actually go into the recruitment
14:30
Speaker 2: process of like sitting down and having proper interviews. But
14:33
Speaker 2: it seems to make sure that we can, you know,
14:35
Speaker 2: not waste people's time because like if you beck said
14:37
Speaker 2: well I want to get paid X, and I'd be like, well,
14:39
Speaker 2: actually the job is valued at why I can say
14:42
Speaker 2: is that a deal breaker for you? Really upfront? And
14:44
Speaker 2: if it is, then cool, we go on our merry way.
14:47
Speaker 2: You don't get to the end of the recruitment process
14:49
Speaker 2: and then you know, ditch us because you know the
14:52
Speaker 2: salary wasn't what you expected. So if I am asking,
14:55
Speaker 2: it's literally to make sure that your expectations are on
14:58
Speaker 2: par sorac. I was recruiting for an admin role and
15:02
Speaker 2: that role was sitting between X and Y, and a
15:04
Speaker 2: few people were like wildly above that. It didn't mean
15:07
Speaker 2: I didn't call them and have that chat. We still
15:09
Speaker 2: had that chat, but it was like, hey, the roles
15:12
Speaker 2: actually valued between X and Y, Like you've said this,
15:16
Speaker 2: what's the reason for that? And they've said, oh, you
15:18
Speaker 2: know a plethora of different reasons, and either some people said,
15:22
Speaker 2: oh I thought that the role was you know at
15:24
Speaker 2: that level, at which point I can say, hey, Beck, like,
15:26
Speaker 2: it's actually not like the roles and responsibilities look like
15:29
Speaker 2: a B and C, and that's why we pay between
15:32
Speaker 2: X and Y, and unfortunately, like that salary is not
15:35
Speaker 2: feasible or if it's lower. Honestly, I just go into
15:38
Speaker 2: peptok mode and I'm like, what the hell, Like, this
15:40
Speaker 2: role's worth way more than that, Like is it because
15:42
Speaker 2: you think you don't have the skills or the experience?
15:44
Speaker 2: Like your resume is the reason I'm calling you. So
15:47
Speaker 2: I think it goes one of two ways. But if
15:49
Speaker 2: I was answering that question and it was just strictly
15:51
Speaker 2: a number, I would do a little bit of research
15:54
Speaker 2: first and put a range. I'd ever say I want
15:56
Speaker 2: fifty thousand dollars. I'd be like, okay, I want fifty
16:00
Speaker 2: seventy thousand dollars and give a range. And in a
16:03
Speaker 2: position where I have been asked the question directly, I
16:06
Speaker 2: would say, look, I'm looking for a pretty competitive salary
16:10
Speaker 2: that respects my qualifications and my education and my experience,
16:13
Speaker 2: and based on the research that I have done into
16:16
Speaker 2: this space. As I understand it, this role would be
16:19
Speaker 2: valued between X and Y, so I would expect the
16:22
Speaker 2: salary to be reflective of that. And I think you
16:24
Speaker 2: can just take the emotion out of it. I think
16:26
Speaker 2: when we're having these emotional conversations that are related to money,
16:30
Speaker 2: we can easily just slip into talking to a new
16:33
Speaker 2: employer or talking in an interview about like, well, they'd
16:35
Speaker 2: really need seventy thousand dollars because like, you know, I'm
16:39
Speaker 2: on seventy thousand dollars right now, and I like I
16:41
Speaker 2: want to keep my lifestyle. They don't care, Like at
16:44
Speaker 2: the end of the day, they just don't care. What
16:46
Speaker 2: you need to do is prove yourself as an individual.
16:49
Speaker 2: I'm paying you for your skills and experience, and I'm
16:52
Speaker 2: not paying you because you want to earn that amount
16:54
Speaker 2: of money. I'm paying you because that's what the role
16:56
Speaker 2: is worth. So I think if you can distill it
16:58
Speaker 2: back down to all the role is worth between A
17:01
Speaker 2: and B, and that's how it's going to work. I
17:03
Speaker 2: could say, well, I actually have a bit more experience,
17:06
Speaker 2: so I'm closer to be than I am to A.
17:07
Speaker 2: Thank you so much for you know, having that conversation,
17:10
Speaker 2: or you might go, all right, well, if this salary
17:13
Speaker 2: is you know, at why I actually want more than
17:16
Speaker 2: that at some point? What does salary progression look like
17:18
Speaker 2: in this business? Is it an income based salary progression?
17:22
Speaker 2: Or is it do I have to change roles completely?
17:24
Speaker 2: What would that look like? What does it look like
17:26
Speaker 2: for past employees? So I think there's a lot of
17:29
Speaker 2: conversation to be had. I think on this though, before
17:32
Speaker 2: I stop ranting about it. The one thing that I
17:35
Speaker 2: wouldn't want to disclose is what I was currently being paid.
17:38
Speaker 2: So if I applied for a job and you know,
17:41
Speaker 2: they're asking me what is my salary expectation, I would
17:44
Speaker 2: not be saying, oh, I want sixty because I'm currently
17:46
Speaker 2: earning sixty and like I just want this job more
17:49
Speaker 2: than the other one. Yeah, No, I want sixty if
17:53
Speaker 2: that's what the role is worth, or I want more.
17:56
Speaker 2: Like the salary you currently earn is not a reflection
17:59
Speaker 2: of your billy to do a job. Yeah, Like, if
18:01
Speaker 2: you're currently on fifty thousand dollars and you're applying for
18:04
Speaker 2: a job that's one hundred thousand dollars, but you possess
18:06
Speaker 2: all the skills and the experience that is necessary for
18:09
Speaker 2: that job. It's none of their business that you came
18:10
Speaker 2: from fifty because that's what the role is worth, and
18:13
Speaker 2: that's what the role is worth to the business, and
18:15
Speaker 2: that's how much you should be remunerated for it. Like
18:18
Speaker 2: there is no you know, stepping stones necessary or oh well,
18:21
Speaker 2: I'm not on that much now, like maybe you could
18:24
Speaker 2: save some money.
18:24
Speaker 3: No. Yeah, I'm also a big believer in the fact
18:27
Speaker 3: that whenever you change roles, you should be stepping up
18:29
Speaker 3: your salary really if like and obviously caveats again where possible,
18:34
Speaker 3: depending on how blah blah blah blah. But every time
18:37
Speaker 3: I applied for a new job, especially when I was younger,
18:39
Speaker 3: I was always adding ten k onto my salary. Like
18:41
Speaker 3: if I'm earning fifty, I want sixty. If I'm earning sixty,
18:44
Speaker 3: I want seventy. And that's how I stepped up and
18:46
Speaker 3: stepped up and stepped up, because that's there's that statistic
18:48
Speaker 3: that says people it's.
18:49
Speaker 2: Just on six million dollars back.
18:50
Speaker 3: Now I'm the richest woman in the world. No, there's
18:53
Speaker 3: that statistic that says people who change jobs earn more
18:56
Speaker 3: than people who do not, because you have that opportunity
18:59
Speaker 3: in that interview process to set yourself up immediately, and
19:03
Speaker 3: so I feel like, take advantage of that and don't
19:05
Speaker 3: let them make you feel lack Just because they're negotiating
19:09
Speaker 3: doesn't mean you can't negotiate as well.
19:11
Speaker 2: During the recruitment process. I recommend that you employ out
19:14
Speaker 2: what would a mediocre, middle aged white man do, and
19:17
Speaker 2: then do that strategy if they would have the audacity
19:20
Speaker 2: to ask for one hundred grand Babe, that's what you're doing.
19:22
Speaker 3: Yep.
19:23
Speaker 2: So that's that's how I would do it, And I
19:24
Speaker 2: guess that's how I've gotten where I've gotten.
19:26
Speaker 3: If that's not good enough advice, I don't know what is.
19:30
Speaker 2: It's a middle aged white man the advice, Yeah, exactly,
19:34
Speaker 2: audacious read the paper. I don't know what else did
19:37
Speaker 2: they do. There's are probably a whole heap of stereotypes.
19:39
Speaker 2: They sneeze, really loudly sneeze, and they sit on chairs
19:46
Speaker 2: weird so that you can't sit on the chair next
19:48
Speaker 2: to them. Yeah, you got to do all these on
19:50
Speaker 2: the plane. Oh, they take both arm rests checks. Anyway,
19:55
Speaker 2: back on track, Yeah, let's get back on track.
19:57
Speaker 3: We have a bit of a theme this week because
19:58
Speaker 3: our community call out was all so about salary, wasn't it, Victoria?
20:01
Speaker 2: Yea, let's talk about that because I'm really excited about
20:03
Speaker 2: this topic. So this week's community dilemma, let's read it out.
20:07
Speaker 2: We got a message and it went like this, Hey, girls,
20:09
Speaker 2: would you be able to give me your opinion on
20:11
Speaker 2: this one. So recently my employer did their annual remuneration
20:15
Speaker 2: and review and gave most of the stuff an increase. However,
20:18
Speaker 2: the increase is not nearly anywhere close to inflation. They
20:22
Speaker 2: are not open to negotiating and think everyone should be
20:25
Speaker 2: grateful for the pay rise they got. I should add
20:27
Speaker 2: the company is not struggling. Last financial year, we did
20:30
Speaker 2: one hundred and seventy percent of our sales targets talking
20:34
Speaker 2: in the low millions. Interested to see what the community
20:38
Speaker 2: thinks and how you guys would handle this situation.
20:41
Speaker 3: Leave him SYSI there so many red flags in that message.
20:46
Speaker 3: I think it's hard without I guess knowing the context
20:49
Speaker 3: of you know, the size of the business and all
20:51
Speaker 3: of those things. Not that that should fully matter, but
20:53
Speaker 3: it's something that I think you would consider. But yeah, Victoria,
20:57
Speaker 3: you've said before, if your pay rise doesn't align with inflation,
21:01
Speaker 3: you're actually getting a pay cup.
21:02
Speaker 1: Yep.
21:02
Speaker 2: But if your pay rise doesn't align with inflation, you
21:04
Speaker 2: are getting a pay cup, full stop, end of story.
21:06
Speaker 2: Because if you got paid ten dollars last year and
21:09
Speaker 2: now everything's more expensive, and I gave you the same
21:11
Speaker 2: ten dollars and expected you to be able to live
21:13
Speaker 2: the same life on that, it's not going to happen. Yeah, Like,
21:15
Speaker 2: it's not your lifestyle is going down when my back
21:19
Speaker 2: pocket is being lined, Absolutely not. It gives me the ick,
21:22
Speaker 2: like I just it's not even about the ick factor,
21:24
Speaker 2: it's this is what's fair, this is how the world works,
21:27
Speaker 2: and from my perspective as a business owner, this is
21:29
Speaker 2: a cost of business. Like I employed Jess for example,
21:33
Speaker 2: I employed her for a certain amount per annum. But
21:36
Speaker 2: as a part of my mapping, as a part of
21:38
Speaker 2: my planning, as a part of you know, working out
21:40
Speaker 2: what that looks like, I know that inflation will come
21:43
Speaker 2: into it. Did I know that inflation would be at
21:45
Speaker 2: seven point one percent this year? Absolutely I didn't. But
21:48
Speaker 2: last year, you know it was two or three percent,
21:50
Speaker 2: the year before two or three percent. So in my head,
21:52
Speaker 2: because inflation happens every single year in a healthy economy,
21:56
Speaker 2: so it should be happening anyway. I've always made sure
21:59
Speaker 2: that we have the buffer to increase my employee's salaries
22:02
Speaker 2: in line with inflation. This year was more. I get it.
22:06
Speaker 2: So for some businesses, especially ones that are, you know,
22:08
Speaker 2: coming out of the pandemic into hard times. Please don't
22:11
Speaker 2: get me wrong, like, this is not going to apply
22:13
Speaker 2: to every single situation. Yes, I do think it can
22:15
Speaker 2: be a struggle for some employers. But for me, that
22:18
Speaker 2: is a cost of doing business. That is the cost
22:20
Speaker 2: of just keeping the bare minimum. Like at the end
22:23
Speaker 2: of the day, just as salary increased by seven percent,
22:26
Speaker 2: and that she's on the money. I genuinely believe in
22:28
Speaker 2: walking the walk. So it's Jess, what was your pay rise?
22:30
Speaker 3: So it wasn't just seven percent, it was the seven
22:32
Speaker 3: percent for cost of living.
22:34
Speaker 2: Yeap, And then we wiped it off the table and
22:36
Speaker 2: said that's cost of living. Now let's talk about your performance.
22:38
Speaker 3: Yeah, And I really appreciated that because it felt really
22:41
Speaker 3: transparent and it felt like you had really thought about it.
22:44
Speaker 3: And I think the thing in this situation that's making
22:46
Speaker 3: me mad is that she's saying they were up one
22:49
Speaker 3: hundred and seventy percent on.
22:50
Speaker 2: Yeah, exactly.
22:51
Speaker 3: And so as you said, if you're if you work
22:53
Speaker 3: for a business or a small business or an industry
22:55
Speaker 3: that is really struggling right now, I think there's room
22:58
Speaker 3: for conversation there. Go okay, you know, in the pandemic,
23:01
Speaker 3: I know a lot of people gave up there. You know,
23:04
Speaker 3: they didn't get increases, some people took pay cuts. I
23:06
Speaker 3: think that's a very different thing. If your company is
23:09
Speaker 3: performing well and they're not passing that on to employees,
23:12
Speaker 3: that makes you feel like shit. Like when we sat down,
23:14
Speaker 3: I felt really valued because you had thought about it
23:17
Speaker 3: and you said to me, you know, I want you
23:19
Speaker 3: to be able to live the life that you could
23:21
Speaker 3: live last year in the same way, and you've worked
23:23
Speaker 3: really hard, and I want to reward you for that.
23:26
Speaker 3: And I don't think that, you know, increasing your salary
23:28
Speaker 3: for cost of living that seven percent increase isn't actually
23:31
Speaker 3: rewarding anything. It's just letting you buy bread for the
23:33
Speaker 3: same amount that you bought bread for last year. You know.
23:36
Speaker 3: So I feel like for this person, if I was
23:38
Speaker 3: in her shoes, I would be feeling really undervalued and
23:42
Speaker 3: I'd be feeling really sad, and I'd be feeling like
23:44
Speaker 3: my employer cares more about their bottom line than about
23:46
Speaker 3: their people. And I don't think that that's something that
23:49
Speaker 3: goes away.
23:50
Speaker 2: No, And I think that your people are the reason
23:52
Speaker 2: you have a bottom line to begin with. You're not
23:55
Speaker 2: respecting them, Like it blows my mind right, like this
23:59
Speaker 2: idea that are so replaceable, like I get it, and
24:02
Speaker 2: having worked in like you know, development and HR and
24:04
Speaker 2: all of that. Historically, there seems to be this really
24:07
Speaker 2: transactional nature of talking about people. They'll be like, oh, well,
24:11
Speaker 2: if she doesn't like it, she can leave and we
24:12
Speaker 2: can re recruit. It's like, well, okay, but like, let's
24:15
Speaker 2: take Jess for example, Like let's pretend Jess was a
24:18
Speaker 2: disgruntled employee wanted to leave. She has so much knowledge
24:22
Speaker 2: about my business that is really valuable. We're talking about
24:25
Speaker 2: the relationships, we're talking about how things work. She knows
24:28
Speaker 2: how I work, so that makes my life innately easier.
24:31
Speaker 2: There's a million other things that I guess come into that.
24:34
Speaker 2: But also the cost of recruitment isn't just oh, let's
24:38
Speaker 2: pop an add up on seak and what's at like
24:40
Speaker 2: twelve hundred bucks or something. T agtise. That's fine, but
24:43
Speaker 2: that's twelve hundred bucks. You might not think that's expensive,
24:45
Speaker 2: But how many months is it going to take of
24:47
Speaker 2: lost productivity for that new person to be onboarded. Let's
24:50
Speaker 2: say it's three months, three months of not performing at
24:53
Speaker 2: their peak just because they're onboarding, and that that time
24:56
Speaker 2: needs to exist. What about the other implications of the
24:59
Speaker 2: rest of my staff having to sit down with this
25:01
Speaker 2: new person and train that person, the time, the energy
25:05
Speaker 2: that they're spending on you know, you know, training new jests.
25:08
Speaker 2: But then also what about the lost productivity of them
25:11
Speaker 2: not doing their job nine to five monthat a Friday
25:14
Speaker 2: because they're training somebody else. We know that on average,
25:17
Speaker 2: the cost of recruitment is about thirty five to forty
25:20
Speaker 2: thousand dollars to a business every single time you lose
25:23
Speaker 2: or gain someone. It's not a small thing like that's research.
25:26
Speaker 2: That's you know, not even taking into consideration what a
25:30
Speaker 2: recruiter would be paid. Because if we talk about the
25:32
Speaker 2: recruitment world, I think a lot of employees don't understand
25:35
Speaker 2: how that world works. But a recruiter is making about
25:38
Speaker 2: ten to twenty five percent of your annual salary just
25:41
Speaker 2: for placing you in a role, so you and one
25:43
Speaker 2: hundred grand. That placement fee for that recruiter is between
25:48
Speaker 2: ten thousand and twenty five thousand dollars depending on who
25:52
Speaker 2: the recruiter is, what the recruiter is, if they're specialist,
25:54
Speaker 2: if they're not, what the salary is. So the higher
25:58
Speaker 2: the salary usually the lower the person antiage rate that
26:01
Speaker 2: they get. But to me, it's wild, and that's fine.
26:04
Speaker 2: I'm not saying it's bad. I'm not saying that they
26:05
Speaker 2: shouldn't be paid. That they're doing their job, and that's
26:08
Speaker 2: obviously a very big cost to a business. Like some
26:10
Speaker 2: businesses don't have time for that. I have historically used
26:14
Speaker 2: recruiters to help me find stuff when I didn't have
26:17
Speaker 2: the presence of she's on the money right, because we're
26:19
Speaker 2: in this lucky position where if I put an ad out,
26:21
Speaker 2: lots of eyes are going to see it because our
26:23
Speaker 2: community is quite large, Whereas historically, back when I was
26:26
Speaker 2: starting my finance company, nobody knew who I was or
26:30
Speaker 2: what I did. And you know what, it's even harder
26:32
Speaker 2: convincing them to want to work for me. Oh, I'm
26:34
Speaker 2: a small business and I'm run by a female everyone's like,
26:37
Speaker 2: wh like, no, thank you. So I think it's really
26:40
Speaker 2: interesting to talk about the cost of recruitment and what
26:44
Speaker 2: you mean to a business, and a lot of businesses
26:47
Speaker 2: don't see that value. And you know what, that's okay
26:49
Speaker 2: because if they don't see your value, you're going to
26:52
Speaker 2: leave them for somebody who does see your value because
26:54
Speaker 2: they guarantee you. It's not about pay, Like pay is
26:58
Speaker 2: one component of it, but in and feeling like you're
27:01
Speaker 2: a part of something and feeling like you are respected
27:04
Speaker 2: to me are all just as important as the money
27:07
Speaker 2: that you bring home. So I guess TLDR, if your
27:10
Speaker 2: pay doesn't rise with inflation, it is a pay cut.
27:13
Speaker 2: End of story, that is it. And I think that
27:16
Speaker 2: I'm actually going to write a template. We're gonna put
27:18
Speaker 2: it on our website. You're going to be able to
27:19
Speaker 2: download it for free, and you can send that to
27:21
Speaker 2: your employer to address this, because I think there is
27:24
Speaker 2: a good conversation and your employer might come back and say, look, Beck,
27:27
Speaker 2: I'm really sorry, Like unfortunately, we are a very small
27:30
Speaker 2: business and at this point, like if I do it
27:32
Speaker 2: for you, I have to do it for everybody, and
27:33
Speaker 2: that would send us bankrupt. That's a conversation they should
27:37
Speaker 2: be having with you, though you deserve to understand why
27:40
Speaker 2: they don't think that you are worthy of the same
27:43
Speaker 2: lifestyle that you had this time last year.
27:45
Speaker 4: That is so true. Also, just to cap all of
27:48
Speaker 4: that off, if anyone tells you that you should be
27:50
Speaker 4: greedful in any context, I would run.
27:54
Speaker 2: Just beIN beIN it, beIN it. Nobody should tell me
27:58
Speaker 2: what I should be grateful for.
28:00
Speaker 3: It's an energy. You should be grateful for me to
28:02
Speaker 3: turn up and work my ass off your project seventy
28:05
Speaker 3: Are you joking?
28:06
Speaker 1: I know?
28:06
Speaker 4: Is that what they said in the DM that the
28:09
Speaker 4: employees that they should be great?
28:10
Speaker 2: Okay, I just want to double check that that's what. Yeah,
28:12
Speaker 2: they should be grateful because they still got a pay rise.
28:15
Speaker 2: I don't, but it's not in line with inflation. So technically,
28:18
Speaker 2: my friends, that is still like less than what I
28:21
Speaker 2: had last year. Like, yes, the dollar amount is more,
28:23
Speaker 2: but that's inflation. And if your business doesn't understand that
28:26
Speaker 2: simple concept or respect you, I'm out. Yeah, I'm out.
28:30
Speaker 5: Yep.
28:30
Speaker 2: It's twenty twenty three, Like we're not putting up with
28:32
Speaker 2: this anymore. We don't go to offices with white walls
28:35
Speaker 2: and black desks for the culture. I'm telling you that
28:38
Speaker 2: right now, absolutely no where to runs this. Very curious
28:42
Speaker 2: to see what everyone else said. All right, so thank
28:45
Speaker 2: you for sitting down and hearing another victoria around. We
28:48
Speaker 2: did ask the community a few questions. So we said,
28:50
Speaker 2: have you had an increase in your pay from an
28:52
Speaker 2: annual remuneration review. Fifty one percent of you said yes,
28:56
Speaker 2: Forty nine percent said no. If yes, does this increase
29:00
Speaker 2: match inflation? Is really so angry? Are you ready? I'm ready?
29:05
Speaker 2: Eighty four percent of you said no.
29:08
Speaker 3: No.
29:08
Speaker 2: That means only sixteen percent of you got an increase
29:11
Speaker 2: that keeps your lifestyle the same. It's not even an increase.
29:15
Speaker 3: Crazy.
29:17
Speaker 2: We then said, if no, did you talk to your
29:20
Speaker 2: employer about it? So six percent of you said yeah,
29:23
Speaker 2: and we came to a good negotiation only six six percent.
29:27
Speaker 2: Twenty two percent said yes, but they didn't care about
29:31
Speaker 2: my concerns, and fifty two percent said no, I was
29:35
Speaker 2: just happy I got a pay rise. No, that sucks
29:39
Speaker 2: one out of ten cannot recommend. I also feel like
29:42
Speaker 2: this is really you know, it goes back to our
29:45
Speaker 2: community to keep in mind, we're not all females. We
29:48
Speaker 2: are ninety eight percent female, and I feel like a
29:51
Speaker 2: lot of the female experience is shared here. But this
29:54
Speaker 2: goes full literally everybody. We all deserve to have confidence,
29:58
Speaker 2: we all deserve to have some level of conviction in
30:00
Speaker 2: our role. We all should be getting consistent feedback throughout
30:03
Speaker 2: the years. So when you do sit down for a
30:05
Speaker 2: performance review, you can go, well, I did ABC and
30:08
Speaker 2: D and here's my job description, and here's how I
30:11
Speaker 2: met that criteria. But here's how I went above and beyond.
30:14
Speaker 2: So I think there's a lot to this conversation that
30:16
Speaker 2: we have broken down before, and Jess and I have
30:19
Speaker 2: been talking, and there's going to be more career content
30:21
Speaker 2: coming up soon because you guys have been demanding it,
30:24
Speaker 2: like you have been asking for it and asking for it,
30:26
Speaker 2: and it's something that can help you increase your income
30:29
Speaker 2: and you know, change your life. So we're going to
30:31
Speaker 2: create that content for you. But if you if you
30:34
Speaker 2: are a bit spicy, I get it. So someone said,
30:37
Speaker 2: I deserve a pay rise, but I know the company
30:39
Speaker 2: is struggling, so I want to know the best way
30:42
Speaker 2: to approach this. That's really hard. Yeah, someone else said,
30:45
Speaker 2: I got a five percent increase, and when I spoke
30:47
Speaker 2: to my supervisor, his response was, you are lucky you
30:50
Speaker 2: even got one. What is it that you must be
30:53
Speaker 2: a great We all know. We all know that supervisor
30:57
Speaker 2: was a mediocre, middle aged white man. We know, we
30:59
Speaker 2: just know.
31:00
Speaker 3: Soh yeah, So you know, it's like one of like,
31:02
Speaker 3: I'm not turning up for the fun of it, doll like,
31:05
Speaker 3: I'm here to be paid.
31:06
Speaker 2: I would actually like to retire yesterday. In fact, if
31:09
Speaker 2: it was a choice, I'd be a trust fund baby.
31:11
Speaker 3: Oh I was born to be rich, you know exactly.
31:15
Speaker 2: I identify as a billionaire. So so start treating me like
31:20
Speaker 2: one is that week?
31:21
Speaker 3: Oh my god, that makes me so angry.
31:23
Speaker 2: Someone else said, I can't imagine many employers can support
31:25
Speaker 2: a pay rise in line with inflation. So that's fair
31:29
Speaker 2: to say, yeah, but we've been given the additional context
31:33
Speaker 2: here where they've said last financial year, we did one
31:35
Speaker 2: hundred and seventy percent of our sales targets, and.
31:38
Speaker 3: Those targets would have been set in place to ensure
31:41
Speaker 3: that the business was profitable. So it's not as if
31:43
Speaker 3: if we hit a million dollars we break even. It
31:45
Speaker 3: would be if we hit million dollars. We have profited,
31:48
Speaker 3: we have done well for the year, so then to
31:50
Speaker 3: do an additional seventy percent on top of that means
31:53
Speaker 3: they're rolling in it right now.
31:54
Speaker 2: Yeah, so someone else said, I'm a midwife, so I
31:57
Speaker 2: get award. I'm glad union gets us as small in
32:00
Speaker 2: but we can't ask for more or get any more
32:02
Speaker 2: than that, which that's tough. Is bullshit, Like, I think
32:06
Speaker 2: we learned so much during the pandemic about our frontline
32:09
Speaker 2: workers and how valuable they were to our community, and
32:12
Speaker 2: we're still not paying them properly. What is this?
32:15
Speaker 3: It's unacceptable any industry where it is standardized like that.
32:19
Speaker 3: Teaching and things as well. It's really tough. And a
32:22
Speaker 3: few of my friends are teachers and it's hard having
32:24
Speaker 3: the conversation because they go, we just get X amount
32:26
Speaker 3: every year, and I feel like that amount definitely wouldn't
32:29
Speaker 3: account for inflation this year. But hopefully those industries are unionized,
32:35
Speaker 3: and maybe that's would you say that's the job of
32:37
Speaker 3: the union to then say the increase this year needs
32:39
Speaker 3: to be higher.
32:40
Speaker 2: Yes, but that's the job of the government to allocate
32:42
Speaker 2: more budget towards our frontline and healthcare workers and every
32:46
Speaker 2: other type of frontline worker, So I think that they
32:48
Speaker 2: should be doing more. The unions exist because the government
32:51
Speaker 2: doesn't do enough. So I think, you know, the inner
32:54
Speaker 2: perfect world, unions wouldn't have to exist because everyone's being
32:58
Speaker 2: treated fairly and being paid properly and there's no like
33:01
Speaker 2: politics involved in it, but there is, so the unions
33:04
Speaker 2: are necessary. Someone else said, I was advised that base
33:07
Speaker 2: salaries will never increase with inflation because that's just how
33:10
Speaker 2: this company works. Red flag, What the hell? What do
33:17
Speaker 2: you mean that's how the company works.
33:18
Speaker 3: That's such a black and white, like tell me you
33:21
Speaker 3: don't care about your people without telling you don't care
33:23
Speaker 3: about it.
33:24
Speaker 2: Yeah, exactly, exactly, So every year you're actually worthless to me, Jessica. Yeah,
33:30
Speaker 2: if they get so every single year you stay, it
33:32
Speaker 2: actually gets worse for you. Yeah, I'm going to pay
33:35
Speaker 2: you less year on your own year. And you know
33:36
Speaker 2: what compounds inflation in the same way that investment returns
33:40
Speaker 2: to so it's just going backwards.
33:43
Speaker 3: Yeah, if they can increase your hex repayments in line
33:45
Speaker 3: with inflation, because they recognize that, that is a necessary break.
33:49
Speaker 3: Even why are we not recognizing that salaries are exactly
33:52
Speaker 3: the same.
33:52
Speaker 2: Yeah, do you want to hear one that's going to
33:54
Speaker 2: make you really angry already? So someone said, my work
34:00
Speaker 2: used scare tactics so people would vote for the EBA
34:04
Speaker 2: with the lower pay rise associated it worked.
34:08
Speaker 3: A company that I've worked for did something similarly.
34:11
Speaker 2: They did not.
34:12
Speaker 3: So it was a company that employed a lot of
34:15
Speaker 3: young women. And you know, in an industry where typically
34:19
Speaker 3: you have people who are young, don't I knew nothing
34:22
Speaker 3: about finance, and I think that was a very standardized thing.
34:24
Speaker 3: And they brought in an EBA and it was when
34:28
Speaker 3: for those who don't know, whenever you bring in that
34:29
Speaker 3: kind of agreement, an enterprise bargaining agreement, enterprise bargaining agree,
34:34
Speaker 3: whenever you bring that in, if you're changing the policy
34:36
Speaker 3: for company as a whole, it has to be passed
34:38
Speaker 3: by a majority vote. So they can't a company can't
34:41
Speaker 3: just bring in an EBA like it has to be
34:42
Speaker 3: put to a vote by the people who were employed,
34:45
Speaker 3: and they were. Essentially there were two options on the table,
34:47
Speaker 3: one that paid more, one that paid less, the one
34:50
Speaker 3: that paid more. There was some leave that there was
34:53
Speaker 3: some change with the leave, and essentially rumors were being
34:56
Speaker 3: spread by upper management that the leave changes were going
34:59
Speaker 3: to like screen over and that's the worst. Like, you
35:02
Speaker 3: don't want that instability. And at the time I had
35:04
Speaker 3: no idea.
35:05
Speaker 2: Why would you know?
35:06
Speaker 3: But now as I trusted your manager, right as an adult,
35:09
Speaker 3: I look back and I go, oh, my god, like,
35:12
Speaker 3: that is actually not how that worked.
35:15
Speaker 2: Wow, that is so bad. That should be illegal. Is
35:17
Speaker 2: that illegal?
35:18
Speaker 1: No?
35:18
Speaker 3: I didn't think it is, because it's it's still freedom
35:20
Speaker 3: of choice, right, Like I could have made whatever choice
35:22
Speaker 3: that I wanted. But when I had people, you know,
35:24
Speaker 3: and everyone was talking about it, Oh, what should I do?
35:26
Speaker 3: None of us knew what anything meant, don't even know
35:27
Speaker 3: what any of being it was. If someone who is
35:30
Speaker 3: a bit more authoritative than you goes, oh like I
35:32
Speaker 3: think that blah blah blah blah, Oh my god, yeah
35:35
Speaker 3: you're so smart, or at least that's what I did.
35:37
Speaker 3: But now, in hindsight, especially hearing that person, I reckon
35:40
Speaker 3: that's what happened.
35:41
Speaker 2: Oh that is the truly the worst. So someone else
35:43
Speaker 2: in Bright and News said, well, they wouldn't give me
35:46
Speaker 2: a race. So I resigned, got a similar role I
35:48
Speaker 2: don't know the company, and got fifty percent more money.
35:52
Speaker 2: Queen I love it. I feel like that's probably a
35:54
Speaker 2: really good place to leave it, because the rest of
35:56
Speaker 2: them are just really depressing, like it's actually insane, and
36:00
Speaker 2: I just I think that we need to know what
36:02
Speaker 2: we're worth and then demand that because that should actually
36:06
Speaker 2: be the bare minimum. And if people are trying to
36:08
Speaker 2: tell you that you're three percent or your five percent
36:10
Speaker 2: pay rise is something that you should be grateful for.
36:13
Speaker 2: Like please, don't get me wrong, I'm sure you're looking
36:14
Speaker 2: at it and going with me at the end of
36:16
Speaker 2: the day, like I have more money coming in, but
36:18
Speaker 2: that's not as respectful as it could be. And I
36:21
Speaker 2: think that mostly we are just trying to demand respect
36:24
Speaker 2: because there are going to be a lot of small
36:26
Speaker 2: business owners that aren't able to put up their salaries.
36:28
Speaker 2: Like we are so lucky in the world that we
36:31
Speaker 2: live in right now that she's on the money's doing
36:33
Speaker 2: well enough that we can do that. And I think
36:36
Speaker 2: then in every single opportunity where I can pass it
36:38
Speaker 2: on to my team or make sure that they're in
36:40
Speaker 2: the best possible position or being remunerated as well as
36:43
Speaker 2: they possibly could, that's my responsibility. And you know what,
36:47
Speaker 2: it could have been a really hard conversation if we
36:49
Speaker 2: didn't have a level of profit. But I also think
36:51
Speaker 2: that that comes down to ultimately the greed of the
36:54
Speaker 2: business owner as well. And I'm not saying that every
36:56
Speaker 2: business owner is greedy, But at the end of the day,
36:59
Speaker 2: I think I still would have passed it on regardless
37:02
Speaker 2: of wash my profits were looking like. I just would
37:05
Speaker 2: have changed what I was taking home to make sure
37:07
Speaker 2: that my staff knew that I still respected them in
37:09
Speaker 2: the way that I actually do. Yeah, so everyone's different again,
37:13
Speaker 2: but I think we should be asking for respect in
37:15
Speaker 2: our workplaces. And that's a bare minimum.
37:17
Speaker 3: Yep. And that's the tea.
37:18
Speaker 2: All right, that's a good tea. I'm going to go
37:20
Speaker 2: get a cup of tea now because mine's gone cold.
37:22
Speaker 2: So have the best week, guys. I love you, and
37:26
Speaker 2: we will see you on Monday for Money Days. Bye guys.
37:28
Speaker 4: Bye.
37:35
Speaker 2: The advice shared on She's on the Money is general
37:38
Speaker 2: in nature and does not consider your individual circumstances. She's
37:42
Speaker 2: on the Money exists purely for educational purposes and should
37:45
Speaker 2: not be relied upon to make an investment or financial decision.
37:49
Speaker 2: If you do choose to buy a financial product, read
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