Looking after your dollars

Love it or hate it, today the Australian government released the Henry report with recommendations that include superannuation changes to help us save for our future.

Just as superannuation in Australia is compulsory so too should it be for Career Chicks to actually "earn what you're worth"* and be able to determine your own standard of living and invest in your future.

This does mean the need to be prepared to negotiate for what you are paid and to learn the skills to do this.

One thing to make sure of is to make sure that you get your fair share of any salary increases that may become available come annual salary review time.

Many Australian companies are currently preparing for their annual review process and will make salary decisions on the basis of these reviews. A lot of people argue that they don't get the opportunity to negotiate or discuss their salary for the next financial year. And often there isn't a lot of extra money on offer. But you want to make sure you get your fair share of it and there are a number of things you can do. And NOW is the time to do it!

Here are 5 Career Chick Hot Tips to put you in the best position for your annual review:

1. Prepare well for your annual performance review with a well written document that highlights your contributions over the year.

2. Know your numbers - quantify the value you have delivered.

3. Ask now when your review will be held so you have adequate time to prepare.

4. Remind your manager in the discussion (don 't just rely on the written document) about the value of the contributions you have made.

5. Link your contributions and the salary review in the same sentence when speaking with your manager. Let them know that you trust that this will be recognized when they are making recommendations about your salary for next year.

The key is to be prepared!

What are you going to do THIS week to look after your dollars and advance your career?

Share your ideas with other Chicks!

Karen

*For more tips see Chapter 19: Earn What You're Worth of "Hot Tips for Career Chicks"