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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.

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Speaker 2: Let's get into it. She's on the Money.

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Speaker 3: She's on the Money.

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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,

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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

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Speaker 2: money wins. We're going to be helping to answer a

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Speaker 2: juicy money dilemma, which this week is all about discussing

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Speaker 2: your salary expectations in a job interview. And we're going

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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,

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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.

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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

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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

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Speaker 2: only happens to dress all the time. Jess, how's your

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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

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Speaker 3: mekeur is in retrograde mercury has to be. I'm feeling

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Speaker 3: frazzled for no good reason either, Like it's not as

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Speaker 3: if anything's gone drastically wrong, but I think I just

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Speaker 3: started off my Monday feeling like I didn't know I

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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

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Speaker 3: was having a moment. The other day, I had no

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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.

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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.

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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.

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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

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Speaker 2: can't solve? The Sheese on the Money team is here

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Speaker 2: to help. Every week, we tackle your dilemmas, both big

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Speaker 2: and small, to answer your most burning money, career and

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Speaker 2: life questions. To get involved, simply head to our website

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Speaker 2: and leave us a short voice recording and you might

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Speaker 2: just find yourself on the show. Now, let's take a

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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

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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

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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.

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Speaker 2: Skills, whatever you want to call it, what you're actually

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Speaker 2: bringing to the table, because like, you are a really

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Speaker 2: good cook, so that could be put up for collateral.

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Speaker 2: You think I'm a really good cook. I mean you

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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

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Speaker 4: way to this to the exactly.

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Speaker 2: To the grass. What do you go to have the

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Speaker 2: worst part with no butter, Yeah, exactly the worst part. Sorry,

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Speaker 2: what crust is the best beer?

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Speaker 3: Oh?

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Speaker 2: I did not know this vote? Look at you anymore?

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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?

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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,

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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?

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Speaker 2: But is only the end anyway? Somebody's broken a very

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Speaker 2: serious you need to answer. I'm also called I have

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Speaker 2: been like, hey, Steve, I'm making toast, but all I've

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Speaker 2: got left is this rerange.

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Speaker 3: No, I mean, your buddy is called a red I'm

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Speaker 3: still just that is the end of the human right

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Speaker 3: with you?

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Speaker 2: You are sorry? We need a baker. We need a

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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

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Speaker 3: back on track.

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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

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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

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Speaker 2: feel like you're going to camper very intellectual answer, and

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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,

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Speaker 3: but at least in you. So realistically, any recruiter is

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Speaker 3: going to try and negotiate you down. So always shoot up,

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Speaker 3: even if what you say is within the range. I mean,

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Speaker 3: I say recruiter, and I know that people who work

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Speaker 3: in recruitment will DM me if I don't put the

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Speaker 3: caveat on it. No, it won't be recruiter, it won't

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Speaker 3: be them doing it. The company will always come back

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Speaker 3: and try and negotiate down.

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Speaker 2: That it's their job to do it.

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Speaker 3: Yeah, even if you say I want to earn seventy

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Speaker 3: thousand and their range was sixty to eighty, they're still

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Speaker 3: going to try and negotiate. It's just how that works

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Speaker 3: as a company. So I say, always, always, always overshoot,

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Speaker 3: because then you have room to negotiate down to somewhere

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Speaker 3: where you're happy. I wouldn't be too stressed about setting

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Speaker 3: your expectation too high. I think if you tacked one

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Speaker 3: hundred grand on, people would probably be like, okay, like

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Speaker 3: you're clearly But I think that is more of a

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Speaker 3: reflection that you don't have an understanding of that role.

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Speaker 3: Because if you know your job, if you know what

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Speaker 3: you're doing, and you have kept an eye on the market,

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Speaker 3: you should theoretically have a decent understanding of the value

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Speaker 3: of that role. And if you don't, you can do

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Speaker 3: some research. We've spoken about that on the pod before.

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Speaker 3: So it's more of a red flag in the sense

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Speaker 3: that you would probably go, oh, they don't really seem

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Speaker 3: like they know what they're talking about. If your salary

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Speaker 3: expectation is, you know, twenty thirty thousand, higher chances are

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Speaker 3: you'll still go through the interview process, and if they

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Speaker 3: really like you, they'll just try and negotiate you down

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Speaker 3: because they always want the most skilled person possible kind

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Speaker 3: of the least amount of money. Possible, and then you're

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Speaker 3: meeting in the middle somewhere. And that's not always the cruiter,

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Speaker 3: like I said, it is often the employer doing that,

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Speaker 3: and not every employer is like that, but most commonly

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Speaker 3: that's kind of the thread that I saw happening.

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Speaker 2: Yeah, so I guess I'm coming to this from the

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Speaker 2: perspective of somebody who has applied for jobs, and so

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Speaker 2: I really resonate with you, Beck because I feel like

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Speaker 2: I used to lowball it because you'd be like, well,

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Speaker 2: they're just going to write off my salary or not

301
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Speaker 2: even look at my CV if I put it too high.

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Speaker 2: Not the case, because on the flip side, I also

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Speaker 2: am an employer and we do all of our own

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Speaker 2: recruitment internally outsource that I actually do it myself because

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Speaker 2: I think that's helping me build my team, if that

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Speaker 2: makes sense, Like I want to have control over that process.

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Speaker 2: But we don't ask in the application phase. We actually

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Speaker 2: ask in their first phone call, so we always do.

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Speaker 2: I guess this is just that she's on the money process.

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Speaker 2: You apply for the job, there would be like a

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Speaker 2: telephone call to like have a chat and prevet and

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Speaker 2: you know, go through a few like what would you

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Speaker 2: say like hygiene questions like when, where, how, why, how

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Speaker 2: far can you jump? Kind of thing, and then if

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Speaker 2: you're successful at that will actually go into the recruitment

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Speaker 2: process of like sitting down and having proper interviews. But

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Speaker 2: it seems to make sure that we can, you know,

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Speaker 2: not waste people's time because like if you beck said

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Speaker 2: well I want to get paid X, and I'd be like, well,

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Speaker 2: actually the job is valued at why I can say

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Speaker 2: is that a deal breaker for you? Really upfront? And

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Speaker 2: if it is, then cool, we go on our merry way.

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Speaker 2: You don't get to the end of the recruitment process

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Speaker 2: and then you know, ditch us because you know the

325
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Speaker 2: salary wasn't what you expected. So if I am asking,

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Speaker 2: it's literally to make sure that your expectations are on

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Speaker 2: par sorac. I was recruiting for an admin role and

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Speaker 2: that role was sitting between X and Y, and a

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Speaker 2: few people were like wildly above that. It didn't mean

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Speaker 2: I didn't call them and have that chat. We still

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Speaker 2: had that chat, but it was like, hey, the roles

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Speaker 2: actually valued between X and Y, Like you've said this,

333
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Speaker 2: what's the reason for that? And they've said, oh, you

334
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Speaker 2: know a plethora of different reasons, and either some people said,

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Speaker 2: oh I thought that the role was you know at

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Speaker 2: that level, at which point I can say, hey, Beck, like,

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Speaker 2: it's actually not like the roles and responsibilities look like

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Speaker 2: a B and C, and that's why we pay between

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Speaker 2: X and Y, and unfortunately, like that salary is not

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Speaker 2: feasible or if it's lower. Honestly, I just go into

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Speaker 2: peptok mode and I'm like, what the hell, Like, this

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Speaker 2: role's worth way more than that, Like is it because

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Speaker 2: you think you don't have the skills or the experience?

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Speaker 2: Like your resume is the reason I'm calling you. So

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Speaker 2: I think it goes one of two ways. But if

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Speaker 2: I was answering that question and it was just strictly

347
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Speaker 2: a number, I would do a little bit of research

348
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Speaker 2: first and put a range. I'd ever say I want

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Speaker 2: fifty thousand dollars. I'd be like, okay, I want fifty

350
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Speaker 2: seventy thousand dollars and give a range. And in a

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Speaker 2: position where I have been asked the question directly, I

352
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Speaker 2: would say, look, I'm looking for a pretty competitive salary

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Speaker 2: that respects my qualifications and my education and my experience,

354
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Speaker 2: and based on the research that I have done into

355
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Speaker 2: this space. As I understand it, this role would be

356
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Speaker 2: valued between X and Y, so I would expect the

357
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Speaker 2: salary to be reflective of that. And I think you

358
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Speaker 2: can just take the emotion out of it. I think

359
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Speaker 2: when we're having these emotional conversations that are related to money,

360
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Speaker 2: we can easily just slip into talking to a new

361
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Speaker 2: employer or talking in an interview about like, well, they'd

362
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Speaker 2: really need seventy thousand dollars because like, you know, I'm

363
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Speaker 2: on seventy thousand dollars right now, and I like I

364
00:16:41,480 --> 00:16:44,400
Speaker 2: want to keep my lifestyle. They don't care, Like at

365
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Speaker 2: the end of the day, they just don't care. What

366
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Speaker 2: you need to do is prove yourself as an individual.

367
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Speaker 2: I'm paying you for your skills and experience, and I'm

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Speaker 2: not paying you because you want to earn that amount

369
00:16:54,640 --> 00:16:56,600
Speaker 2: of money. I'm paying you because that's what the role

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Speaker 2: is worth. So I think if you can distill it

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Speaker 2: back down to all the role is worth between A

372
00:17:01,160 --> 00:17:03,840
Speaker 2: and B, and that's how it's going to work. I

373
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Speaker 2: could say, well, I actually have a bit more experience,

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Speaker 2: so I'm closer to be than I am to A.

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Speaker 2: Thank you so much for you know, having that conversation,

376
00:17:10,920 --> 00:17:13,400
Speaker 2: or you might go, all right, well, if this salary

377
00:17:13,600 --> 00:17:16,399
Speaker 2: is you know, at why I actually want more than

378
00:17:16,440 --> 00:17:18,840
Speaker 2: that at some point? What does salary progression look like

379
00:17:18,920 --> 00:17:22,639
Speaker 2: in this business? Is it an income based salary progression?

380
00:17:22,720 --> 00:17:24,640
Speaker 2: Or is it do I have to change roles completely?

381
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Speaker 2: What would that look like? What does it look like

382
00:17:26,520 --> 00:17:29,000
Speaker 2: for past employees? So I think there's a lot of

383
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Speaker 2: conversation to be had. I think on this though, before

384
00:17:32,720 --> 00:17:35,520
Speaker 2: I stop ranting about it. The one thing that I

385
00:17:35,520 --> 00:17:38,200
Speaker 2: wouldn't want to disclose is what I was currently being paid.

386
00:17:38,880 --> 00:17:41,280
Speaker 2: So if I applied for a job and you know,

387
00:17:41,320 --> 00:17:44,200
Speaker 2: they're asking me what is my salary expectation, I would

388
00:17:44,280 --> 00:17:46,720
Speaker 2: not be saying, oh, I want sixty because I'm currently

389
00:17:46,800 --> 00:17:49,000
Speaker 2: earning sixty and like I just want this job more

390
00:17:49,040 --> 00:17:53,320
Speaker 2: than the other one. Yeah, No, I want sixty if

391
00:17:53,320 --> 00:17:55,760
Speaker 2: that's what the role is worth, or I want more.

392
00:17:56,320 --> 00:17:58,840
Speaker 2: Like the salary you currently earn is not a reflection

393
00:17:59,200 --> 00:18:01,879
Speaker 2: of your billy to do a job. Yeah, Like, if

394
00:18:01,920 --> 00:18:04,359
Speaker 2: you're currently on fifty thousand dollars and you're applying for

395
00:18:04,400 --> 00:18:06,719
Speaker 2: a job that's one hundred thousand dollars, but you possess

396
00:18:06,800 --> 00:18:09,119
Speaker 2: all the skills and the experience that is necessary for

397
00:18:09,160 --> 00:18:10,760
Speaker 2: that job. It's none of their business that you came

398
00:18:10,800 --> 00:18:13,199
Speaker 2: from fifty because that's what the role is worth, and

399
00:18:13,280 --> 00:18:15,680
Speaker 2: that's what the role is worth to the business, and

400
00:18:15,720 --> 00:18:17,919
Speaker 2: that's how much you should be remunerated for it. Like

401
00:18:18,000 --> 00:18:21,680
Speaker 2: there is no you know, stepping stones necessary or oh well,

402
00:18:21,720 --> 00:18:24,000
Speaker 2: I'm not on that much now, like maybe you could

403
00:18:24,000 --> 00:18:24,680
Speaker 2: save some money.

404
00:18:24,840 --> 00:18:27,119
Speaker 3: No. Yeah, I'm also a big believer in the fact

405
00:18:27,119 --> 00:18:29,919
Speaker 3: that whenever you change roles, you should be stepping up

406
00:18:29,920 --> 00:18:34,320
Speaker 3: your salary really if like and obviously caveats again where possible,

407
00:18:34,400 --> 00:18:37,080
Speaker 3: depending on how blah blah blah blah. But every time

408
00:18:37,160 --> 00:18:39,560
Speaker 3: I applied for a new job, especially when I was younger,

409
00:18:39,560 --> 00:18:41,600
Speaker 3: I was always adding ten k onto my salary. Like

410
00:18:41,640 --> 00:18:43,920
Speaker 3: if I'm earning fifty, I want sixty. If I'm earning sixty,

411
00:18:44,040 --> 00:18:46,200
Speaker 3: I want seventy. And that's how I stepped up and

412
00:18:46,200 --> 00:18:48,360
Speaker 3: stepped up and stepped up, because that's there's that statistic

413
00:18:48,359 --> 00:18:49,320
Speaker 3: that says people it's.

414
00:18:49,200 --> 00:18:50,680
Speaker 2: Just on six million dollars back.

415
00:18:50,800 --> 00:18:53,000
Speaker 3: Now I'm the richest woman in the world. No, there's

416
00:18:53,040 --> 00:18:56,800
Speaker 3: that statistic that says people who change jobs earn more

417
00:18:56,880 --> 00:18:59,320
Speaker 3: than people who do not, because you have that opportunity

418
00:18:59,359 --> 00:19:03,240
Speaker 3: in that interview process to set yourself up immediately, and

419
00:19:03,280 --> 00:19:05,720
Speaker 3: so I feel like, take advantage of that and don't

420
00:19:05,760 --> 00:19:09,359
Speaker 3: let them make you feel lack Just because they're negotiating

421
00:19:09,480 --> 00:19:11,160
Speaker 3: doesn't mean you can't negotiate as well.

422
00:19:11,400 --> 00:19:14,399
Speaker 2: During the recruitment process. I recommend that you employ out

423
00:19:14,440 --> 00:19:17,040
Speaker 2: what would a mediocre, middle aged white man do, and

424
00:19:17,080 --> 00:19:20,200
Speaker 2: then do that strategy if they would have the audacity

425
00:19:20,200 --> 00:19:22,240
Speaker 2: to ask for one hundred grand Babe, that's what you're doing.

426
00:19:22,560 --> 00:19:22,760
Speaker 3: Yep.

427
00:19:23,080 --> 00:19:24,960
Speaker 2: So that's that's how I would do it, And I

428
00:19:24,960 --> 00:19:26,440
Speaker 2: guess that's how I've gotten where I've gotten.

429
00:19:26,680 --> 00:19:28,960
Speaker 3: If that's not good enough advice, I don't know what is.

430
00:19:30,359 --> 00:19:34,680
Speaker 2: It's a middle aged white man the advice, Yeah, exactly,

431
00:19:34,760 --> 00:19:37,480
Speaker 2: audacious read the paper. I don't know what else did

432
00:19:37,480 --> 00:19:39,680
Speaker 2: they do. There's are probably a whole heap of stereotypes.

433
00:19:39,840 --> 00:19:46,119
Speaker 2: They sneeze, really loudly sneeze, and they sit on chairs

434
00:19:46,119 --> 00:19:48,240
Speaker 2: weird so that you can't sit on the chair next

435
00:19:48,240 --> 00:19:50,359
Speaker 2: to them. Yeah, you got to do all these on

436
00:19:50,359 --> 00:19:55,040
Speaker 2: the plane. Oh, they take both arm rests checks. Anyway,

437
00:19:55,320 --> 00:19:57,360
Speaker 2: back on track, Yeah, let's get back on track.

438
00:19:57,359 --> 00:19:58,600
Speaker 3: We have a bit of a theme this week because

439
00:19:58,600 --> 00:20:01,720
Speaker 3: our community call out was all so about salary, wasn't it, Victoria?

440
00:20:01,760 --> 00:20:03,880
Speaker 2: Yea, let's talk about that because I'm really excited about

441
00:20:03,880 --> 00:20:07,040
Speaker 2: this topic. So this week's community dilemma, let's read it out.

442
00:20:07,160 --> 00:20:09,680
Speaker 2: We got a message and it went like this, Hey, girls,

443
00:20:09,680 --> 00:20:11,520
Speaker 2: would you be able to give me your opinion on

444
00:20:11,560 --> 00:20:15,359
Speaker 2: this one. So recently my employer did their annual remuneration

445
00:20:15,440 --> 00:20:18,560
Speaker 2: and review and gave most of the stuff an increase. However,

446
00:20:18,600 --> 00:20:22,400
Speaker 2: the increase is not nearly anywhere close to inflation. They

447
00:20:22,400 --> 00:20:25,320
Speaker 2: are not open to negotiating and think everyone should be

448
00:20:25,320 --> 00:20:27,879
Speaker 2: grateful for the pay rise they got. I should add

449
00:20:27,960 --> 00:20:30,960
Speaker 2: the company is not struggling. Last financial year, we did

450
00:20:30,960 --> 00:20:34,919
Speaker 2: one hundred and seventy percent of our sales targets talking

451
00:20:34,960 --> 00:20:38,240
Speaker 2: in the low millions. Interested to see what the community

452
00:20:38,280 --> 00:20:41,119
Speaker 2: thinks and how you guys would handle this situation.

453
00:20:41,280 --> 00:20:46,360
Speaker 3: Leave him SYSI there so many red flags in that message.

454
00:20:46,400 --> 00:20:49,480
Speaker 3: I think it's hard without I guess knowing the context

455
00:20:49,520 --> 00:20:51,240
Speaker 3: of you know, the size of the business and all

456
00:20:51,240 --> 00:20:53,560
Speaker 3: of those things. Not that that should fully matter, but

457
00:20:53,600 --> 00:20:57,360
Speaker 3: it's something that I think you would consider. But yeah, Victoria,

458
00:20:57,480 --> 00:21:00,960
Speaker 3: you've said before, if your pay rise doesn't align with inflation,

459
00:21:01,040 --> 00:21:02,080
Speaker 3: you're actually getting a pay cup.

460
00:21:02,160 --> 00:21:02,320
Speaker 1: Yep.

461
00:21:02,320 --> 00:21:04,280
Speaker 2: But if your pay rise doesn't align with inflation, you

462
00:21:04,320 --> 00:21:06,720
Speaker 2: are getting a pay cup, full stop, end of story.

463
00:21:06,800 --> 00:21:09,399
Speaker 2: Because if you got paid ten dollars last year and

464
00:21:09,440 --> 00:21:11,680
Speaker 2: now everything's more expensive, and I gave you the same

465
00:21:11,720 --> 00:21:13,639
Speaker 2: ten dollars and expected you to be able to live

466
00:21:13,680 --> 00:21:15,919
Speaker 2: the same life on that, it's not going to happen. Yeah, Like,

467
00:21:15,960 --> 00:21:19,120
Speaker 2: it's not your lifestyle is going down when my back

468
00:21:19,119 --> 00:21:22,080
Speaker 2: pocket is being lined, Absolutely not. It gives me the ick,

469
00:21:22,200 --> 00:21:24,560
Speaker 2: like I just it's not even about the ick factor,

470
00:21:24,640 --> 00:21:27,639
Speaker 2: it's this is what's fair, this is how the world works,

471
00:21:27,800 --> 00:21:29,760
Speaker 2: and from my perspective as a business owner, this is

472
00:21:29,760 --> 00:21:33,159
Speaker 2: a cost of business. Like I employed Jess for example,

473
00:21:33,480 --> 00:21:36,320
Speaker 2: I employed her for a certain amount per annum. But

474
00:21:36,680 --> 00:21:38,480
Speaker 2: as a part of my mapping, as a part of

475
00:21:38,520 --> 00:21:40,680
Speaker 2: my planning, as a part of you know, working out

476
00:21:40,680 --> 00:21:43,280
Speaker 2: what that looks like, I know that inflation will come

477
00:21:43,280 --> 00:21:45,280
Speaker 2: into it. Did I know that inflation would be at

478
00:21:45,280 --> 00:21:48,080
Speaker 2: seven point one percent this year? Absolutely I didn't. But

479
00:21:48,480 --> 00:21:50,399
Speaker 2: last year, you know it was two or three percent,

480
00:21:50,440 --> 00:21:52,600
Speaker 2: the year before two or three percent. So in my head,

481
00:21:52,640 --> 00:21:56,240
Speaker 2: because inflation happens every single year in a healthy economy,

482
00:21:56,400 --> 00:21:59,640
Speaker 2: so it should be happening anyway. I've always made sure

483
00:21:59,680 --> 00:22:02,960
Speaker 2: that we have the buffer to increase my employee's salaries

484
00:22:02,960 --> 00:22:06,000
Speaker 2: in line with inflation. This year was more. I get it.

485
00:22:06,080 --> 00:22:08,679
Speaker 2: So for some businesses, especially ones that are, you know,

486
00:22:08,760 --> 00:22:11,440
Speaker 2: coming out of the pandemic into hard times. Please don't

487
00:22:11,440 --> 00:22:13,399
Speaker 2: get me wrong, like, this is not going to apply

488
00:22:13,440 --> 00:22:15,840
Speaker 2: to every single situation. Yes, I do think it can

489
00:22:15,840 --> 00:22:18,199
Speaker 2: be a struggle for some employers. But for me, that

490
00:22:18,359 --> 00:22:20,800
Speaker 2: is a cost of doing business. That is the cost

491
00:22:20,920 --> 00:22:23,840
Speaker 2: of just keeping the bare minimum. Like at the end

492
00:22:23,880 --> 00:22:26,600
Speaker 2: of the day, just as salary increased by seven percent,

493
00:22:26,600 --> 00:22:28,359
Speaker 2: and that she's on the money. I genuinely believe in

494
00:22:28,359 --> 00:22:30,560
Speaker 2: walking the walk. So it's Jess, what was your pay rise?

495
00:22:30,720 --> 00:22:32,600
Speaker 3: So it wasn't just seven percent, it was the seven

496
00:22:32,640 --> 00:22:34,480
Speaker 3: percent for cost of living.

497
00:22:34,359 --> 00:22:36,399
Speaker 2: Yeap, And then we wiped it off the table and

498
00:22:36,440 --> 00:22:38,800
Speaker 2: said that's cost of living. Now let's talk about your performance.

499
00:22:38,880 --> 00:22:40,959
Speaker 3: Yeah, And I really appreciated that because it felt really

500
00:22:41,040 --> 00:22:44,119
Speaker 3: transparent and it felt like you had really thought about it.

501
00:22:44,240 --> 00:22:46,280
Speaker 3: And I think the thing in this situation that's making

502
00:22:46,320 --> 00:22:49,000
Speaker 3: me mad is that she's saying they were up one

503
00:22:49,080 --> 00:22:50,040
Speaker 3: hundred and seventy percent on.

504
00:22:50,119 --> 00:22:50,679
Speaker 2: Yeah, exactly.

505
00:22:51,320 --> 00:22:53,440
Speaker 3: And so as you said, if you're if you work

506
00:22:53,480 --> 00:22:55,680
Speaker 3: for a business or a small business or an industry

507
00:22:55,720 --> 00:22:58,840
Speaker 3: that is really struggling right now, I think there's room

508
00:22:58,880 --> 00:23:01,760
Speaker 3: for conversation there. Go okay, you know, in the pandemic,

509
00:23:01,800 --> 00:23:04,280
Speaker 3: I know a lot of people gave up there. You know,

510
00:23:04,320 --> 00:23:06,600
Speaker 3: they didn't get increases, some people took pay cuts. I

511
00:23:06,600 --> 00:23:09,199
Speaker 3: think that's a very different thing. If your company is

512
00:23:09,240 --> 00:23:12,040
Speaker 3: performing well and they're not passing that on to employees,

513
00:23:12,080 --> 00:23:14,760
Speaker 3: that makes you feel like shit. Like when we sat down,

514
00:23:14,760 --> 00:23:17,000
Speaker 3: I felt really valued because you had thought about it

515
00:23:17,040 --> 00:23:19,840
Speaker 3: and you said to me, you know, I want you

516
00:23:19,880 --> 00:23:21,280
Speaker 3: to be able to live the life that you could

517
00:23:21,280 --> 00:23:23,280
Speaker 3: live last year in the same way, and you've worked

518
00:23:23,280 --> 00:23:25,919
Speaker 3: really hard, and I want to reward you for that.

519
00:23:26,000 --> 00:23:28,560
Speaker 3: And I don't think that, you know, increasing your salary

520
00:23:28,640 --> 00:23:31,520
Speaker 3: for cost of living that seven percent increase isn't actually

521
00:23:31,600 --> 00:23:33,639
Speaker 3: rewarding anything. It's just letting you buy bread for the

522
00:23:33,680 --> 00:23:35,480
Speaker 3: same amount that you bought bread for last year. You know.

523
00:23:36,200 --> 00:23:38,760
Speaker 3: So I feel like for this person, if I was

524
00:23:38,760 --> 00:23:42,040
Speaker 3: in her shoes, I would be feeling really undervalued and

525
00:23:42,080 --> 00:23:44,119
Speaker 3: I'd be feeling really sad, and I'd be feeling like

526
00:23:44,200 --> 00:23:46,480
Speaker 3: my employer cares more about their bottom line than about

527
00:23:46,480 --> 00:23:49,239
Speaker 3: their people. And I don't think that that's something that

528
00:23:49,280 --> 00:23:50,080
Speaker 3: goes away.

529
00:23:50,440 --> 00:23:52,919
Speaker 2: No, And I think that your people are the reason

530
00:23:52,960 --> 00:23:55,439
Speaker 2: you have a bottom line to begin with. You're not

531
00:23:55,640 --> 00:23:59,199
Speaker 2: respecting them, Like it blows my mind right, like this

532
00:23:59,359 --> 00:24:02,000
Speaker 2: idea that are so replaceable, like I get it, and

533
00:24:02,080 --> 00:24:04,800
Speaker 2: having worked in like you know, development and HR and

534
00:24:04,840 --> 00:24:07,520
Speaker 2: all of that. Historically, there seems to be this really

535
00:24:07,560 --> 00:24:10,959
Speaker 2: transactional nature of talking about people. They'll be like, oh, well,

536
00:24:11,000 --> 00:24:12,520
Speaker 2: if she doesn't like it, she can leave and we

537
00:24:12,560 --> 00:24:15,800
Speaker 2: can re recruit. It's like, well, okay, but like, let's

538
00:24:15,800 --> 00:24:18,359
Speaker 2: take Jess for example, Like let's pretend Jess was a

539
00:24:18,400 --> 00:24:22,840
Speaker 2: disgruntled employee wanted to leave. She has so much knowledge

540
00:24:22,880 --> 00:24:25,600
Speaker 2: about my business that is really valuable. We're talking about

541
00:24:25,640 --> 00:24:28,600
Speaker 2: the relationships, we're talking about how things work. She knows

542
00:24:28,600 --> 00:24:31,880
Speaker 2: how I work, so that makes my life innately easier.

543
00:24:31,920 --> 00:24:34,479
Speaker 2: There's a million other things that I guess come into that.

544
00:24:34,880 --> 00:24:38,200
Speaker 2: But also the cost of recruitment isn't just oh, let's

545
00:24:38,200 --> 00:24:40,240
Speaker 2: pop an add up on seak and what's at like

546
00:24:40,320 --> 00:24:43,199
Speaker 2: twelve hundred bucks or something. T agtise. That's fine, but

547
00:24:43,200 --> 00:24:45,720
Speaker 2: that's twelve hundred bucks. You might not think that's expensive,

548
00:24:45,880 --> 00:24:47,720
Speaker 2: But how many months is it going to take of

549
00:24:47,760 --> 00:24:50,960
Speaker 2: lost productivity for that new person to be onboarded. Let's

550
00:24:50,960 --> 00:24:53,439
Speaker 2: say it's three months, three months of not performing at

551
00:24:53,480 --> 00:24:56,000
Speaker 2: their peak just because they're onboarding, and that that time

552
00:24:56,080 --> 00:24:59,399
Speaker 2: needs to exist. What about the other implications of the

553
00:24:59,400 --> 00:25:01,560
Speaker 2: rest of my staff having to sit down with this

554
00:25:01,600 --> 00:25:05,560
Speaker 2: new person and train that person, the time, the energy

555
00:25:05,640 --> 00:25:08,640
Speaker 2: that they're spending on you know, you know, training new jests.

556
00:25:08,920 --> 00:25:11,600
Speaker 2: But then also what about the lost productivity of them

557
00:25:11,680 --> 00:25:14,000
Speaker 2: not doing their job nine to five monthat a Friday

558
00:25:14,000 --> 00:25:17,280
Speaker 2: because they're training somebody else. We know that on average,

559
00:25:17,320 --> 00:25:20,119
Speaker 2: the cost of recruitment is about thirty five to forty

560
00:25:20,200 --> 00:25:23,600
Speaker 2: thousand dollars to a business every single time you lose

561
00:25:23,720 --> 00:25:26,720
Speaker 2: or gain someone. It's not a small thing like that's research.

562
00:25:26,840 --> 00:25:30,040
Speaker 2: That's you know, not even taking into consideration what a

563
00:25:30,040 --> 00:25:32,280
Speaker 2: recruiter would be paid. Because if we talk about the

564
00:25:32,320 --> 00:25:35,160
Speaker 2: recruitment world, I think a lot of employees don't understand

565
00:25:35,400 --> 00:25:38,320
Speaker 2: how that world works. But a recruiter is making about

566
00:25:38,359 --> 00:25:41,879
Speaker 2: ten to twenty five percent of your annual salary just

567
00:25:41,920 --> 00:25:43,800
Speaker 2: for placing you in a role, so you and one

568
00:25:43,880 --> 00:25:47,880
Speaker 2: hundred grand. That placement fee for that recruiter is between

569
00:25:48,200 --> 00:25:52,200
Speaker 2: ten thousand and twenty five thousand dollars depending on who

570
00:25:52,240 --> 00:25:54,760
Speaker 2: the recruiter is, what the recruiter is, if they're specialist,

571
00:25:54,880 --> 00:25:58,000
Speaker 2: if they're not, what the salary is. So the higher

572
00:25:58,040 --> 00:26:01,159
Speaker 2: the salary usually the lower the person antiage rate that

573
00:26:01,240 --> 00:26:04,000
Speaker 2: they get. But to me, it's wild, and that's fine.

574
00:26:04,000 --> 00:26:05,639
Speaker 2: I'm not saying it's bad. I'm not saying that they

575
00:26:05,680 --> 00:26:07,960
Speaker 2: shouldn't be paid. That they're doing their job, and that's

576
00:26:08,000 --> 00:26:10,760
Speaker 2: obviously a very big cost to a business. Like some

577
00:26:10,840 --> 00:26:14,399
Speaker 2: businesses don't have time for that. I have historically used

578
00:26:14,480 --> 00:26:17,359
Speaker 2: recruiters to help me find stuff when I didn't have

579
00:26:17,440 --> 00:26:19,800
Speaker 2: the presence of she's on the money right, because we're

580
00:26:19,800 --> 00:26:21,880
Speaker 2: in this lucky position where if I put an ad out,

581
00:26:21,960 --> 00:26:23,680
Speaker 2: lots of eyes are going to see it because our

582
00:26:23,680 --> 00:26:26,879
Speaker 2: community is quite large, Whereas historically, back when I was

583
00:26:26,920 --> 00:26:30,240
Speaker 2: starting my finance company, nobody knew who I was or

584
00:26:30,240 --> 00:26:32,280
Speaker 2: what I did. And you know what, it's even harder

585
00:26:32,359 --> 00:26:34,760
Speaker 2: convincing them to want to work for me. Oh, I'm

586
00:26:34,800 --> 00:26:37,439
Speaker 2: a small business and I'm run by a female everyone's like,

587
00:26:37,520 --> 00:26:40,760
Speaker 2: wh like, no, thank you. So I think it's really

588
00:26:40,840 --> 00:26:44,480
Speaker 2: interesting to talk about the cost of recruitment and what

589
00:26:44,560 --> 00:26:47,040
Speaker 2: you mean to a business, and a lot of businesses

590
00:26:47,080 --> 00:26:49,679
Speaker 2: don't see that value. And you know what, that's okay

591
00:26:49,920 --> 00:26:52,159
Speaker 2: because if they don't see your value, you're going to

592
00:26:52,280 --> 00:26:54,920
Speaker 2: leave them for somebody who does see your value because

593
00:26:54,960 --> 00:26:58,359
Speaker 2: they guarantee you. It's not about pay, Like pay is

594
00:26:58,440 --> 00:27:01,480
Speaker 2: one component of it, but in and feeling like you're

595
00:27:01,520 --> 00:27:04,320
Speaker 2: a part of something and feeling like you are respected

596
00:27:04,359 --> 00:27:07,359
Speaker 2: to me are all just as important as the money

597
00:27:07,359 --> 00:27:10,679
Speaker 2: that you bring home. So I guess TLDR, if your

598
00:27:10,720 --> 00:27:13,119
Speaker 2: pay doesn't rise with inflation, it is a pay cut.

599
00:27:13,720 --> 00:27:15,800
Speaker 2: End of story, that is it. And I think that

600
00:27:16,200 --> 00:27:18,280
Speaker 2: I'm actually going to write a template. We're gonna put

601
00:27:18,320 --> 00:27:19,760
Speaker 2: it on our website. You're going to be able to

602
00:27:19,760 --> 00:27:21,600
Speaker 2: download it for free, and you can send that to

603
00:27:21,640 --> 00:27:24,480
Speaker 2: your employer to address this, because I think there is

604
00:27:24,520 --> 00:27:27,600
Speaker 2: a good conversation and your employer might come back and say, look, Beck,

605
00:27:27,640 --> 00:27:30,320
Speaker 2: I'm really sorry, Like unfortunately, we are a very small

606
00:27:30,320 --> 00:27:32,320
Speaker 2: business and at this point, like if I do it

607
00:27:32,320 --> 00:27:33,879
Speaker 2: for you, I have to do it for everybody, and

608
00:27:33,880 --> 00:27:37,240
Speaker 2: that would send us bankrupt. That's a conversation they should

609
00:27:37,240 --> 00:27:39,720
Speaker 2: be having with you, though you deserve to understand why

610
00:27:40,080 --> 00:27:42,879
Speaker 2: they don't think that you are worthy of the same

611
00:27:43,080 --> 00:27:45,480
Speaker 2: lifestyle that you had this time last year.

612
00:27:45,560 --> 00:27:48,040
Speaker 4: That is so true. Also, just to cap all of

613
00:27:48,040 --> 00:27:50,439
Speaker 4: that off, if anyone tells you that you should be

614
00:27:50,560 --> 00:27:54,600
Speaker 4: greedful in any context, I would run.

615
00:27:54,880 --> 00:27:58,639
Speaker 2: Just beIN beIN it, beIN it. Nobody should tell me

616
00:27:58,680 --> 00:27:59,840
Speaker 2: what I should be grateful for.

617
00:28:00,040 --> 00:28:01,919
Speaker 3: It's an energy. You should be grateful for me to

618
00:28:02,119 --> 00:28:04,879
Speaker 3: turn up and work my ass off your project seventy

619
00:28:05,000 --> 00:28:05,719
Speaker 3: Are you joking?

620
00:28:06,000 --> 00:28:06,320
Speaker 1: I know?

621
00:28:06,800 --> 00:28:08,920
Speaker 4: Is that what they said in the DM that the

622
00:28:09,040 --> 00:28:10,320
Speaker 4: employees that they should be great?

623
00:28:10,359 --> 00:28:12,360
Speaker 2: Okay, I just want to double check that that's what. Yeah,

624
00:28:12,359 --> 00:28:14,680
Speaker 2: they should be grateful because they still got a pay rise.

625
00:28:15,480 --> 00:28:18,680
Speaker 2: I don't, but it's not in line with inflation. So technically,

626
00:28:18,760 --> 00:28:21,240
Speaker 2: my friends, that is still like less than what I

627
00:28:21,280 --> 00:28:23,680
Speaker 2: had last year. Like, yes, the dollar amount is more,

628
00:28:23,720 --> 00:28:26,480
Speaker 2: but that's inflation. And if your business doesn't understand that

629
00:28:26,560 --> 00:28:30,120
Speaker 2: simple concept or respect you, I'm out. Yeah, I'm out.

630
00:28:30,200 --> 00:28:30,400
Speaker 5: Yep.

631
00:28:30,760 --> 00:28:32,879
Speaker 2: It's twenty twenty three, Like we're not putting up with

632
00:28:32,920 --> 00:28:35,760
Speaker 2: this anymore. We don't go to offices with white walls

633
00:28:35,760 --> 00:28:37,919
Speaker 2: and black desks for the culture. I'm telling you that

634
00:28:38,000 --> 00:28:42,280
Speaker 2: right now, absolutely no where to runs this. Very curious

635
00:28:42,280 --> 00:28:45,240
Speaker 2: to see what everyone else said. All right, so thank

636
00:28:45,280 --> 00:28:48,400
Speaker 2: you for sitting down and hearing another victoria around. We

637
00:28:48,440 --> 00:28:50,640
Speaker 2: did ask the community a few questions. So we said,

638
00:28:50,800 --> 00:28:52,719
Speaker 2: have you had an increase in your pay from an

639
00:28:52,760 --> 00:28:56,080
Speaker 2: annual remuneration review. Fifty one percent of you said yes,

640
00:28:56,240 --> 00:29:00,520
Speaker 2: Forty nine percent said no. If yes, does this increase

641
00:29:00,680 --> 00:29:05,560
Speaker 2: match inflation? Is really so angry? Are you ready? I'm ready?

642
00:29:05,760 --> 00:29:08,280
Speaker 2: Eighty four percent of you said no.

643
00:29:08,280 --> 00:29:08,480
Speaker 3: No.

644
00:29:08,840 --> 00:29:11,880
Speaker 2: That means only sixteen percent of you got an increase

645
00:29:11,920 --> 00:29:15,160
Speaker 2: that keeps your lifestyle the same. It's not even an increase.

646
00:29:15,560 --> 00:29:16,480
Speaker 3: Crazy.

647
00:29:17,800 --> 00:29:20,120
Speaker 2: We then said, if no, did you talk to your

648
00:29:20,120 --> 00:29:23,160
Speaker 2: employer about it? So six percent of you said yeah,

649
00:29:23,160 --> 00:29:26,520
Speaker 2: and we came to a good negotiation only six six percent.

650
00:29:27,840 --> 00:29:31,000
Speaker 2: Twenty two percent said yes, but they didn't care about

651
00:29:31,000 --> 00:29:35,320
Speaker 2: my concerns, and fifty two percent said no, I was

652
00:29:35,440 --> 00:29:39,480
Speaker 2: just happy I got a pay rise. No, that sucks

653
00:29:39,760 --> 00:29:42,160
Speaker 2: one out of ten cannot recommend. I also feel like

654
00:29:42,240 --> 00:29:45,880
Speaker 2: this is really you know, it goes back to our

655
00:29:45,880 --> 00:29:48,760
Speaker 2: community to keep in mind, we're not all females. We

656
00:29:48,800 --> 00:29:51,560
Speaker 2: are ninety eight percent female, and I feel like a

657
00:29:51,600 --> 00:29:54,840
Speaker 2: lot of the female experience is shared here. But this

658
00:29:54,960 --> 00:29:58,120
Speaker 2: goes full literally everybody. We all deserve to have confidence,

659
00:29:58,120 --> 00:30:00,120
Speaker 2: we all deserve to have some level of conviction in

660
00:30:00,160 --> 00:30:03,640
Speaker 2: our role. We all should be getting consistent feedback throughout

661
00:30:03,640 --> 00:30:05,240
Speaker 2: the years. So when you do sit down for a

662
00:30:05,280 --> 00:30:08,080
Speaker 2: performance review, you can go, well, I did ABC and

663
00:30:08,160 --> 00:30:11,000
Speaker 2: D and here's my job description, and here's how I

664
00:30:11,040 --> 00:30:13,920
Speaker 2: met that criteria. But here's how I went above and beyond.

665
00:30:14,160 --> 00:30:16,600
Speaker 2: So I think there's a lot to this conversation that

666
00:30:16,640 --> 00:30:19,120
Speaker 2: we have broken down before, and Jess and I have

667
00:30:19,120 --> 00:30:21,640
Speaker 2: been talking, and there's going to be more career content

668
00:30:21,720 --> 00:30:23,800
Speaker 2: coming up soon because you guys have been demanding it,

669
00:30:24,000 --> 00:30:26,400
Speaker 2: like you have been asking for it and asking for it,

670
00:30:26,760 --> 00:30:29,600
Speaker 2: and it's something that can help you increase your income

671
00:30:29,760 --> 00:30:31,720
Speaker 2: and you know, change your life. So we're going to

672
00:30:31,800 --> 00:30:34,840
Speaker 2: create that content for you. But if you if you

673
00:30:34,840 --> 00:30:37,200
Speaker 2: are a bit spicy, I get it. So someone said,

674
00:30:37,520 --> 00:30:39,640
Speaker 2: I deserve a pay rise, but I know the company

675
00:30:39,680 --> 00:30:42,080
Speaker 2: is struggling, so I want to know the best way

676
00:30:42,120 --> 00:30:45,800
Speaker 2: to approach this. That's really hard. Yeah, someone else said,

677
00:30:45,840 --> 00:30:47,800
Speaker 2: I got a five percent increase, and when I spoke

678
00:30:47,840 --> 00:30:50,840
Speaker 2: to my supervisor, his response was, you are lucky you

679
00:30:50,960 --> 00:30:53,560
Speaker 2: even got one. What is it that you must be

680
00:30:53,600 --> 00:30:57,040
Speaker 2: a great We all know. We all know that supervisor

681
00:30:57,280 --> 00:30:59,320
Speaker 2: was a mediocre, middle aged white man. We know, we

682
00:30:59,440 --> 00:30:59,680
Speaker 2: just know.

683
00:31:00,040 --> 00:31:02,920
Speaker 3: Soh yeah, So you know, it's like one of like,

684
00:31:02,960 --> 00:31:04,800
Speaker 3: I'm not turning up for the fun of it, doll like,

685
00:31:05,000 --> 00:31:06,160
Speaker 3: I'm here to be paid.

686
00:31:06,240 --> 00:31:09,120
Speaker 2: I would actually like to retire yesterday. In fact, if

687
00:31:09,120 --> 00:31:11,680
Speaker 2: it was a choice, I'd be a trust fund baby.

688
00:31:11,840 --> 00:31:14,680
Speaker 3: Oh I was born to be rich, you know exactly.

689
00:31:15,000 --> 00:31:20,240
Speaker 2: I identify as a billionaire. So so start treating me like

690
00:31:20,320 --> 00:31:21,000
Speaker 2: one is that week?

691
00:31:21,280 --> 00:31:22,960
Speaker 3: Oh my god, that makes me so angry.

692
00:31:23,080 --> 00:31:25,600
Speaker 2: Someone else said, I can't imagine many employers can support

693
00:31:25,640 --> 00:31:29,120
Speaker 2: a pay rise in line with inflation. So that's fair

694
00:31:29,200 --> 00:31:33,200
Speaker 2: to say, yeah, but we've been given the additional context

695
00:31:33,240 --> 00:31:35,600
Speaker 2: here where they've said last financial year, we did one

696
00:31:35,680 --> 00:31:38,560
Speaker 2: hundred and seventy percent of our sales targets, and.

697
00:31:38,480 --> 00:31:41,320
Speaker 3: Those targets would have been set in place to ensure

698
00:31:41,320 --> 00:31:43,240
Speaker 3: that the business was profitable. So it's not as if

699
00:31:43,280 --> 00:31:45,800
Speaker 3: if we hit a million dollars we break even. It

700
00:31:45,800 --> 00:31:48,520
Speaker 3: would be if we hit million dollars. We have profited,

701
00:31:48,560 --> 00:31:50,360
Speaker 3: we have done well for the year, so then to

702
00:31:50,400 --> 00:31:53,040
Speaker 3: do an additional seventy percent on top of that means

703
00:31:53,280 --> 00:31:54,440
Speaker 3: they're rolling in it right now.

704
00:31:54,600 --> 00:31:57,000
Speaker 2: Yeah, so someone else said, I'm a midwife, so I

705
00:31:57,040 --> 00:32:00,080
Speaker 2: get award. I'm glad union gets us as small in

706
00:32:00,520 --> 00:32:02,600
Speaker 2: but we can't ask for more or get any more

707
00:32:02,640 --> 00:32:06,320
Speaker 2: than that, which that's tough. Is bullshit, Like, I think

708
00:32:06,360 --> 00:32:09,400
Speaker 2: we learned so much during the pandemic about our frontline

709
00:32:09,440 --> 00:32:12,080
Speaker 2: workers and how valuable they were to our community, and

710
00:32:12,080 --> 00:32:14,800
Speaker 2: we're still not paying them properly. What is this?

711
00:32:15,360 --> 00:32:19,160
Speaker 3: It's unacceptable any industry where it is standardized like that.

712
00:32:19,280 --> 00:32:22,360
Speaker 3: Teaching and things as well. It's really tough. And a

713
00:32:22,400 --> 00:32:24,400
Speaker 3: few of my friends are teachers and it's hard having

714
00:32:24,440 --> 00:32:26,680
Speaker 3: the conversation because they go, we just get X amount

715
00:32:26,720 --> 00:32:29,800
Speaker 3: every year, and I feel like that amount definitely wouldn't

716
00:32:29,840 --> 00:32:35,080
Speaker 3: account for inflation this year. But hopefully those industries are unionized,

717
00:32:35,160 --> 00:32:37,040
Speaker 3: and maybe that's would you say that's the job of

718
00:32:37,080 --> 00:32:39,320
Speaker 3: the union to then say the increase this year needs

719
00:32:39,360 --> 00:32:40,320
Speaker 3: to be higher.

720
00:32:40,200 --> 00:32:42,720
Speaker 2: Yes, but that's the job of the government to allocate

721
00:32:42,760 --> 00:32:46,240
Speaker 2: more budget towards our frontline and healthcare workers and every

722
00:32:46,240 --> 00:32:48,560
Speaker 2: other type of frontline worker, So I think that they

723
00:32:48,600 --> 00:32:51,360
Speaker 2: should be doing more. The unions exist because the government

724
00:32:51,360 --> 00:32:54,760
Speaker 2: doesn't do enough. So I think, you know, the inner

725
00:32:54,800 --> 00:32:57,840
Speaker 2: perfect world, unions wouldn't have to exist because everyone's being

726
00:32:58,080 --> 00:33:00,959
Speaker 2: treated fairly and being paid properly and there's no like

727
00:33:01,360 --> 00:33:04,000
Speaker 2: politics involved in it, but there is, so the unions

728
00:33:04,000 --> 00:33:07,760
Speaker 2: are necessary. Someone else said, I was advised that base

729
00:33:07,840 --> 00:33:10,680
Speaker 2: salaries will never increase with inflation because that's just how

730
00:33:10,680 --> 00:33:17,280
Speaker 2: this company works. Red flag, What the hell? What do

731
00:33:17,320 --> 00:33:18,760
Speaker 2: you mean that's how the company works.

732
00:33:18,960 --> 00:33:21,520
Speaker 3: That's such a black and white, like tell me you

733
00:33:21,520 --> 00:33:23,640
Speaker 3: don't care about your people without telling you don't care

734
00:33:23,680 --> 00:33:23,960
Speaker 3: about it.

735
00:33:24,000 --> 00:33:29,880
Speaker 2: Yeah, exactly, exactly, So every year you're actually worthless to me, Jessica. Yeah,

736
00:33:30,000 --> 00:33:32,480
Speaker 2: if they get so every single year you stay, it

737
00:33:32,560 --> 00:33:35,040
Speaker 2: actually gets worse for you. Yeah, I'm going to pay

738
00:33:35,080 --> 00:33:36,680
Speaker 2: you less year on your own year. And you know

739
00:33:36,720 --> 00:33:40,760
Speaker 2: what compounds inflation in the same way that investment returns

740
00:33:40,800 --> 00:33:42,960
Speaker 2: to so it's just going backwards.

741
00:33:43,280 --> 00:33:45,800
Speaker 3: Yeah, if they can increase your hex repayments in line

742
00:33:45,840 --> 00:33:49,040
Speaker 3: with inflation, because they recognize that, that is a necessary break.

743
00:33:49,080 --> 00:33:52,160
Speaker 3: Even why are we not recognizing that salaries are exactly

744
00:33:52,200 --> 00:33:52,560
Speaker 3: the same.

745
00:33:52,760 --> 00:33:54,240
Speaker 2: Yeah, do you want to hear one that's going to

746
00:33:54,280 --> 00:33:59,800
Speaker 2: make you really angry already? So someone said, my work

747
00:34:00,400 --> 00:34:04,280
Speaker 2: used scare tactics so people would vote for the EBA

748
00:34:04,560 --> 00:34:08,160
Speaker 2: with the lower pay rise associated it worked.

749
00:34:08,360 --> 00:34:11,400
Speaker 3: A company that I've worked for did something similarly.

750
00:34:11,760 --> 00:34:12,440
Speaker 2: They did not.

751
00:34:12,960 --> 00:34:15,480
Speaker 3: So it was a company that employed a lot of

752
00:34:15,640 --> 00:34:19,520
Speaker 3: young women. And you know, in an industry where typically

753
00:34:19,600 --> 00:34:22,000
Speaker 3: you have people who are young, don't I knew nothing

754
00:34:22,000 --> 00:34:24,400
Speaker 3: about finance, and I think that was a very standardized thing.

755
00:34:24,760 --> 00:34:28,000
Speaker 3: And they brought in an EBA and it was when

756
00:34:28,160 --> 00:34:29,799
Speaker 3: for those who don't know, whenever you bring in that

757
00:34:29,880 --> 00:34:33,960
Speaker 3: kind of agreement, an enterprise bargaining agreement, enterprise bargaining agree,

758
00:34:34,040 --> 00:34:36,360
Speaker 3: whenever you bring that in, if you're changing the policy

759
00:34:36,400 --> 00:34:38,600
Speaker 3: for company as a whole, it has to be passed

760
00:34:38,600 --> 00:34:40,959
Speaker 3: by a majority vote. So they can't a company can't

761
00:34:41,000 --> 00:34:42,799
Speaker 3: just bring in an EBA like it has to be

762
00:34:42,800 --> 00:34:44,640
Speaker 3: put to a vote by the people who were employed,

763
00:34:45,239 --> 00:34:47,880
Speaker 3: and they were. Essentially there were two options on the table,

764
00:34:47,880 --> 00:34:49,960
Speaker 3: one that paid more, one that paid less, the one

765
00:34:50,000 --> 00:34:53,279
Speaker 3: that paid more. There was some leave that there was

766
00:34:53,320 --> 00:34:56,080
Speaker 3: some change with the leave, and essentially rumors were being

767
00:34:56,120 --> 00:34:59,640
Speaker 3: spread by upper management that the leave changes were going

768
00:34:59,640 --> 00:35:02,319
Speaker 3: to like screen over and that's the worst. Like, you

769
00:35:02,320 --> 00:35:04,560
Speaker 3: don't want that instability. And at the time I had

770
00:35:04,719 --> 00:35:05,120
Speaker 3: no idea.

771
00:35:05,160 --> 00:35:05,799
Speaker 2: Why would you know?

772
00:35:06,040 --> 00:35:09,000
Speaker 3: But now as I trusted your manager, right as an adult,

773
00:35:09,000 --> 00:35:11,480
Speaker 3: I look back and I go, oh, my god, like,

774
00:35:12,400 --> 00:35:14,400
Speaker 3: that is actually not how that worked.

775
00:35:15,239 --> 00:35:17,560
Speaker 2: Wow, that is so bad. That should be illegal. Is

776
00:35:17,560 --> 00:35:18,080
Speaker 2: that illegal?

777
00:35:18,239 --> 00:35:18,319
Speaker 1: No?

778
00:35:18,320 --> 00:35:20,280
Speaker 3: I didn't think it is, because it's it's still freedom

779
00:35:20,320 --> 00:35:22,239
Speaker 3: of choice, right, Like I could have made whatever choice

780
00:35:22,239 --> 00:35:24,360
Speaker 3: that I wanted. But when I had people, you know,

781
00:35:24,400 --> 00:35:26,200
Speaker 3: and everyone was talking about it, Oh, what should I do?

782
00:35:26,239 --> 00:35:27,920
Speaker 3: None of us knew what anything meant, don't even know

783
00:35:27,920 --> 00:35:30,400
Speaker 3: what any of being it was. If someone who is

784
00:35:30,440 --> 00:35:32,640
Speaker 3: a bit more authoritative than you goes, oh like I

785
00:35:32,680 --> 00:35:35,040
Speaker 3: think that blah blah blah blah, Oh my god, yeah

786
00:35:35,040 --> 00:35:36,719
Speaker 3: you're so smart, or at least that's what I did.

787
00:35:37,040 --> 00:35:40,120
Speaker 3: But now, in hindsight, especially hearing that person, I reckon

788
00:35:40,120 --> 00:35:40,760
Speaker 3: that's what happened.

789
00:35:41,160 --> 00:35:43,839
Speaker 2: Oh that is the truly the worst. So someone else

790
00:35:43,920 --> 00:35:46,400
Speaker 2: in Bright and News said, well, they wouldn't give me

791
00:35:46,440 --> 00:35:48,680
Speaker 2: a race. So I resigned, got a similar role I

792
00:35:48,680 --> 00:35:51,520
Speaker 2: don't know the company, and got fifty percent more money.

793
00:35:52,000 --> 00:35:54,840
Speaker 2: Queen I love it. I feel like that's probably a

794
00:35:54,920 --> 00:35:56,880
Speaker 2: really good place to leave it, because the rest of

795
00:35:56,920 --> 00:36:00,120
Speaker 2: them are just really depressing, like it's actually insane, and

796
00:36:00,160 --> 00:36:02,440
Speaker 2: I just I think that we need to know what

797
00:36:02,480 --> 00:36:06,240
Speaker 2: we're worth and then demand that because that should actually

798
00:36:06,280 --> 00:36:08,320
Speaker 2: be the bare minimum. And if people are trying to

799
00:36:08,360 --> 00:36:10,720
Speaker 2: tell you that you're three percent or your five percent

800
00:36:10,760 --> 00:36:12,920
Speaker 2: pay rise is something that you should be grateful for.

801
00:36:13,160 --> 00:36:14,959
Speaker 2: Like please, don't get me wrong, I'm sure you're looking

802
00:36:14,960 --> 00:36:16,440
Speaker 2: at it and going with me at the end of

803
00:36:16,440 --> 00:36:18,640
Speaker 2: the day, like I have more money coming in, but

804
00:36:18,920 --> 00:36:21,600
Speaker 2: that's not as respectful as it could be. And I

805
00:36:21,640 --> 00:36:24,600
Speaker 2: think that mostly we are just trying to demand respect

806
00:36:24,840 --> 00:36:26,239
Speaker 2: because there are going to be a lot of small

807
00:36:26,280 --> 00:36:28,840
Speaker 2: business owners that aren't able to put up their salaries.

808
00:36:28,920 --> 00:36:31,640
Speaker 2: Like we are so lucky in the world that we

809
00:36:31,680 --> 00:36:33,799
Speaker 2: live in right now that she's on the money's doing

810
00:36:33,840 --> 00:36:36,200
Speaker 2: well enough that we can do that. And I think

811
00:36:36,200 --> 00:36:38,600
Speaker 2: then in every single opportunity where I can pass it

812
00:36:38,640 --> 00:36:40,120
Speaker 2: on to my team or make sure that they're in

813
00:36:40,160 --> 00:36:43,439
Speaker 2: the best possible position or being remunerated as well as

814
00:36:43,440 --> 00:36:46,960
Speaker 2: they possibly could, that's my responsibility. And you know what,

815
00:36:47,040 --> 00:36:49,000
Speaker 2: it could have been a really hard conversation if we

816
00:36:49,080 --> 00:36:51,560
Speaker 2: didn't have a level of profit. But I also think

817
00:36:51,600 --> 00:36:54,239
Speaker 2: that that comes down to ultimately the greed of the

818
00:36:54,280 --> 00:36:56,239
Speaker 2: business owner as well. And I'm not saying that every

819
00:36:56,239 --> 00:36:59,280
Speaker 2: business owner is greedy, But at the end of the day,

820
00:36:59,600 --> 00:37:02,200
Speaker 2: I think I still would have passed it on regardless

821
00:37:02,239 --> 00:37:05,399
Speaker 2: of wash my profits were looking like. I just would

822
00:37:05,440 --> 00:37:07,399
Speaker 2: have changed what I was taking home to make sure

823
00:37:07,400 --> 00:37:09,600
Speaker 2: that my staff knew that I still respected them in

824
00:37:09,600 --> 00:37:13,080
Speaker 2: the way that I actually do. Yeah, so everyone's different again,

825
00:37:13,160 --> 00:37:15,640
Speaker 2: but I think we should be asking for respect in

826
00:37:15,680 --> 00:37:17,480
Speaker 2: our workplaces. And that's a bare minimum.

827
00:37:17,560 --> 00:37:18,640
Speaker 3: Yep. And that's the tea.

828
00:37:18,880 --> 00:37:20,560
Speaker 2: All right, that's a good tea. I'm going to go

829
00:37:20,560 --> 00:37:22,480
Speaker 2: get a cup of tea now because mine's gone cold.

830
00:37:22,719 --> 00:37:26,160
Speaker 2: So have the best week, guys. I love you, and

831
00:37:26,280 --> 00:37:28,760
Speaker 2: we will see you on Monday for Money Days. Bye guys.

832
00:37:28,840 --> 00:37:33,440
Speaker 4: Bye.

833
00:37:35,760 --> 00:37:38,320
Speaker 2: The advice shared on She's on the Money is general

834
00:37:38,360 --> 00:37:42,240
Speaker 2: in nature and does not consider your individual circumstances. She's

835
00:37:42,280 --> 00:37:45,720
Speaker 2: on the Money exists purely for educational purposes and should

836
00:37:45,760 --> 00:37:48,920
Speaker 2: not be relied upon to make an investment or financial decision.

837
00:37:49,320 --> 00:37:51,759
Speaker 2: If you do choose to buy a financial product, read

838
00:37:51,800 --> 00:37:55,920
Speaker 2: the PDS TMD and obtain appropriate financial advice tailored towards

839
00:37:55,960 --> 00:37:59,200
Speaker 2: your needs. Victoria Divine and She's on the Money are

840
00:37:59,280 --> 00:38:02,680
Speaker 2: authorized representatives of money sherper P, T y L t

841
00:38:02,800 --> 00:38:05,560
Speaker 2: D A b N three two one six four nine

842
00:38:05,680 --> 00:38:08,640
Speaker 2: two seven seven zero eight a F s L four

843
00:38:08,719 --> 00:38:12,320
Speaker 2: five one two eight nine