Beale is under fire at Ibrox following a poor start to the season and his signings struggling to hit the ground running.
Rangers were thrashed in the Champions League qualifiers by PSV Eindhoven and then on Sunday went down to defeat at home to Celtic, despite the Bhoys missing a number of players through injury.
There are already calls from some fans for Beale to go, but ex-Gers midfielder Rae does not see the board acting now.
He feels with so much money having been spent to sign the players Beale wanted, the Rangers chiefs will keep faith with him for now, but there must be a dramatic upturn in performances.
“I think it’s a bit premature [to make a change now]”, Rae said on Clyde 1’s Superscoreboard.
“I don’t see the board sanctioning that having given him so much money in the summer, having gone out and actually paid money to QPR to secure his services.
“But there has to be a dramatic upturn in the performances because there hasn’t been a level of consistency game on game where you’re thinking ‘OK, it’s clicking together’.”
Rangers next have a trip to St Johnstone on the agenda for after the international break, before then they kick off their Europa League campaign by hosting Real Betis.