HOW SHOULD I APPROACh MY EMPLOYER FOR A RISE ON MY PAYCHECK?

Question

IVE BEEN WAITING PATIENTELY AND IVE TAKEN RESPOSIBILITIES MOST MANAGERS IN THE COMPANY DONT AND IM STILL GETTING PAID NICKLES AND DIMES...HOW DO I APPROACH THIS SITUATION ASAP??!!!!

Answer 1

just go in and ask him if you can talk with him. if he says yes, walk in, close the door and sit down. let him know how long you have been there, how long it's been since your last raise or review. then have your pros ready - let him know the good jobs you have performed, your attendance record and your dedication to the company. let him feel what you are feeling, that you are doing all this for the good of the company and you feel you deserve a raise. let him tell you his feelings. he may want to discuss your cons - so, think of things you do not handle as well as you should - and have good answers to turn a con into a pro. then going by his answer and decision, you'll have to make a choice of what you want to do. i hope he gives you the raise and the choice is made for you. you have a good boss and a good job. good luck.

Answer 2

Ask for an evaluation of your work practices. Say you want it so you can be on top of your game and contribute to the company. When you have your evaluation and you feel it's on a positive note, than ask about salary increase... if there's an increment of time where it increases or if you have to work for the company a certain amount of time before being eligible for a raise. They will get the hint. Keep working hard. Reward will come.

Answer 3

Ask your employer to salary sacrifice your rise directly into your super fund and you’ll only pay 15 per cent tax on the amount, Mr Forsdick advised.

On the other hand, if you simply accepted the pay rise as regular income you would have to pay the usual income tax on it which, after July 1, is 30 per cent if your taxable income is $25,000 to $75,000, or 40 per cent if your taxable income is $75,000 to $150,000.

So, for example, if your salary is $80,000 and you receive a $5000 pay rise, and your employer puts it straight into your super fund, you’ll only lose $750 in tax. If you simply take the $5000 you’ll lose $2000 in tax.

The maximum amount an employer can contribute to an employee’s super per annum will also increase from July 1. The amount will rise from $12,690 to $13,130, Mr Forsdick said.

The employer is not required to pay 9 per cent on any earnings above $36,470 per quarter.

Don’t want to wait?

This strategy won’t appeal to everyone. “Paying less tax is the upside. The downside is that the money is going to be locked away until you’re aged 60,” Mr Forsdick said.

“That’s a disincentive, particularly for young people paying off their HECS or a mortgage. You have to weigh up those two things.”

It’s also a good idea to ask your employer to pay your super on your total remuneration package including benefits, not just your base salary.

This way you will have a lower taxable income and get more super. Mr Forsdick said this had become a common trend over the last few years in most companies.

On the fringe

Be cautious if asking for a rise in the form of fringe benefits, Mr Forsdick warned.

Most fringe benefits attract a 46.5 per cent fringe benefit tax (FBT) which employers have to pay. But employers build this payment into the employee’s package so it will ultimately come out of your back pocket.

Certain benefits, such as laptops and mobile phones, are FBT-free.

“We’re finding these days that fringe benefits, from a tax viewpoint, tend not to be a great thing to go for in negotiation with your employer,” Mr Forsdick said.

“You could be better off getting it in cash, paying less tax and spending the money on the benefit.”

No harm in asking

Every employer will have their own remuneration policy, but over time these need to evolve, Mr Forsdick said.

“If you’re talking to your employer, suggest new ways of doing things. There’s no harm in trying,” he said.

Answer 4

Don't bother. Ask for a promotion instead, then your employer will get the message that you are serious about your job and want to stay there, move up, etc...which means more money.

Answer 5

there are websites which deal with this subject.. do a search on HOW TO ASK FOR A RAISE.

i think you will get some good advice in your results.

all the best!!