Asking for a raise can help you secure better pay and earn a larger annual salary. While daunting, asking for a raise can be easy and systematic.
Before you speak to your boss about earning more pay, it’s important to be prepared with a salary goal in mind, questions, and proper expectations.
Our short guide walks you through preparing to ask for a raise so you can increase your chances of securing a bigger paycheck.
Steps for Requesting a Raise
Part of asking for a raise is creating a pitch. You need specific reasons why you deserve a raise, from highlighting your work performance to your loyalty to the company. The first step is to find a target salary number to request.
Research a Specific Salary
What salary do you deserve? Research what others in your field are making and consider your responsibilities at your current company to come up with your target salary.
If there’s a higher salary in the market for what you do, then you have a strong position for negotiation. You can use this number as your goal to start a negotiation
It’s important to be realistic about your raise. Typically, salaries grow at an average rate of one to five percent. Requesting a raise in this range makes it more likely you’ll receive an offer.
To find industry trends for wages, you can use the following tools:
These resources input your current occupation, experience level, skills, certifications, and geography to calculate a salary. Be as detailed as possible for the most accurate salary.
Establish Your Case
Next, you’ll want to explain to your boss why your work performance deserves a raise. You have to prove the value of your labor to the company.
Come up with examples of going beyond your established job requirements. Consider how you’ve contributed to your team, completed projects beyond expectations, or delivered more than your quotas.
Another thing to bring up is loyalty. If you’ve worked for the company for a long time or have exemplified the company’s values, be sure to add these points to your conversation.
Having concrete examples helps you make a strong case for your boss. The longer your list, the better your standing is for requesting a raise.
Pick your Timing
Timing is just as important as your reason for getting a pay raise. You’ll want to plan when you ask for a raise to improve your odds.
The best time to ask for a raise is when your department is achieving a significant level of success. You don’t want to ask for a raise when the company reports decreased profits or when it lays people off.
Here are the best times to ask your boss for a higher salary:
- During your quarterly or annual review
- After completing a large project
- When the company reports increased profits
- When your boss is happy
What to Expect
With your talking points prepared, you can go into your negotiation ready to discuss your raise.
Remember to speak to your boss with enthusiasm and gratefulness for the job before bringing up the raise. Be sure to thank them for their hard work and guidance.
Then, you can start by saying, “I look forward to growing with the company. Could we discuss my salary?” Or “I’d like to talk about a raise, is now a good time?” You shouldn’t give your boss a shock by bringing up a raise when not appropriate. It should be done thoughtfully and with consideration to their time.
Once you begin your pitch for increasing your salary, be ready for your boss to ask questions. Most likely, your boss will take some time to see if the raise is possible. They might come back with a different offer than what you requested.
Often a raise comes with a different title and new expectations. Be sure you understand what this entails and whether or not this is the direction you want to go.
What to Say if “No” is the Answer
Getting a no after asking for a raise is discouraging, but it’s not the end of negotiations.
See if your boss can give you a roadmap to getting paid more. Whether through training, certifications or time, you might be able to see a raise when you match your company’s requirements.
You can also ask for different things instead like increased time off or more flexible hours, or other perks your employer offers. A “no” is not the end of getting a raise permanently, just for the time being.
Whether your boss gives you a raise or not, it’s important to know that you have the freedom to find a path to higher wages. If your employer continues to deny raises, then it might be time to seek out a different position or place to work with a higher ceiling for growth.
With these tips in mind, you can feel confident going to your employer and having an honest and open discussion about earning a raise.
