working

Underpayment can significantly impact your personal finance over your career.

For example, if you are underpaid by just $50 per week for 50 years, you lose out on $130,000. Assuming you placed that $50 in a savings account earning an average of 5% compounded monthly, you’re looking at $578,814. That is over half a million dollars poorer for $50 less per week.

Implementation and cost

  1. Job sites such as Jora or Seek will show you the current pay range in your industry for similar roles. Evaluate your skillset, productivity, and experience against the industry average.  
  2. If your current pay doesn’t reflect what you are worth, speak to your employer about matching what you are worth in the industry.
  3. If you can’t negotiate your wage with your current employer, switch to an organisation that offers competitive remuneration.