Property Investment
4 min read
Author: Eleanor Grimshaw
Eleanor is the Head of People & Performance at Opes.
Reviewed by: Laine Moger
Journalist and Property Educator, holds a Bachelor of Communication (Honours) from Massey University.
Every worker would love to be paid more ... there’s not many of us who think we’re overpaid.
And less than a third of Kiwis think they are being paid fairly.
So, how do you know if you’re earning what you’re worth? And how do you figure out what you could be earning?
It’s important to figure this out. I often work with property investors who need to get their income up so they can get a mortgage approved. I call this the Earn, Baby Earn strategy.
But, before setting up that (potentially awkward) meeting with your boss, take time to do your homework. You need to figure out ‘what you’re worth’.
In other words, you need to know what your market salary is. What would other organisations be willing to pay you? And how much would your boss have to pay to replace you?
In this article, you’ll learn how to figure out the market income for your role. That way you can either ask for that pay rise, or be happy that you’re being paid fairly.
There are 3 main tools you can use to gauge whether your boss is paying you enough.
Seek offers a free salary comparison calculator. This is so useful.
The cool thing about this tool is that you enter your current role and salary ... and it shows where you fall within the pay range.
Because whenever an employer advertises for a role they have to put in the expected salary (even if it’s not shown publicly).
This helps you see what your job usually gets paid … and it even breaks it down by industry.
For example, civil engineer Nick earns $100k a year, and using this tool he can see his salary is at the lower end of the band.
Depending on Nick’s experience and achievements, he might use this information to negotiate a raise.
Hays, a recruitment agency, puts out their Salary Guide every year. This is a comprehensive 172-page document that breaks down the average salary by industry, role, city and country.
Best of all, it’s free.
Let’s come back to Nick, our civil engineer, who earns $100k a year. How much should he be paid according to Hays?
The latest report shows $100k is a fair market wage for a civil engineer, but it’s at the lower end.
However, Hays says market income also varies slightly between cities. In Auckland, a typical wage for a civil engineer is $120k, but in Christchurch it’s $105k. In Perth, it’s $120k.
So, Nick’s ‘fair’ market income depends on where he lives. And if he isn’t able to negotiate a pay rise with his current boss, he might consider applying for a job in another city (if that’s an option for him).
Careers.govt.nz has salary information based on New Zealand roles. However, in my experience, it tends to be on the lower side.
This is because this website often references older studies. According to Careers, a person in Nick’s role should earn between $90k - $110k. So, his $100k salary is smack bang in the middle of this website’s guide.
The salary range on this website is lower compared with other resources. I’m pointing this out because you and your boss might be looking at different data.
You might say “I’m being underpaid according to this website” and she might say “no you’re not, according to this other website.”
So it’s best to look at the latest, most up-to-date information. You don’t want to be earning a salary in 2025 that was based on 2021 data.
By comparing data, you can create a clearer picture of your worth.
So, let’s say you’re Nick, and you decide your $100k salary is coming up short. The hardest thing is knowing where to pitch yourself.
Don’t lowball, but don’t overshoot either. You don’t want to ask for something that is so unrealistic your boss’s eyebrows hit the roof.
So, as well as the hard data, you want to weigh up where you are within the range.
Think about:
Tools like Seek, Hays and Careers will give you a range. These factors then help you figure out where you sit within that range.
So you’re going to want to aim for a number that both:
I get it, discussing money with your boss can feel uncomfortable.
But a 30-minute conversation can change what you earn for the rest of the year. It’s a few moments of discomfort ... for (potentially) significant rewards.
If you want to earn more money or achieve financial goals like building a property portfolio, asking for a raise is often a necessary step.
Remember, your boss can’t read your mind — sometimes all you need to do is ask.
