Most people cringe at the thought of asking their boss for a pay raise. If your company doesn’t do regular annual salary increases and you’re not up for a promotion, asking may be the only way to get the raise you know you deserve. You should understand that it is perfectly acceptable to ask for a raise, and most company managers and business owners want to take good care of their employees.
While the process seems intimidating and uncomfortable, it doesn’t have to be, especially if you know your boss and ho to ask for a raise. If you do your research and are ready with facts, you will feel more confident initiating the conversation.
Tips for asking for a raise
1. List your accomplishments from the past six months, the past year and your time with the company.
Describe how your accomplishments have positively impacted your department and company as a whole – and provide specific numbers and statistics if possible. For example, you could say, “In the past year, I generated 5,000 leads for the company, which is an increase of 8% from the prior year. The resulting sales equaled $58,000 in new business.”
It’s hard for any manager to turn down a request when presented with numbers like those. The stronger the data you provide, the greater case you make for a well-deserved raise.
Showing the work you have done for the company and the efforts you have put in to help it also demonstrates that you are a loyal worker. Loyal employees gain trust from their employers, which will help your case.
2. Know what a competitive salary looks like for your position.
On sites like Salary.com and PayScale, you can get a free salary report to see how your current salary compares to similar positions elsewhere. LinkedIn is a great resource for this, too. You can either review job posts on the site or use LinkedIn’s own average salary ranges listed on job posts. Consider the industry you are based in, your employer’s size and your benefits. Some companies just don’t pay well, which is why it’s best to consult hiring experts when possible. If you have any connections with local recruiters and hiring managers (perhaps on LinkedIn), ask them if they would look at your resume to provide you with a realistic salary goal for your position and experience.
3. Let your boss know what’s in it for them.
Keep in mind that your boss does not care about your mortgage payments or the vacation you want to go on. Your boss cares about what’s in it for them. You’ve already explained what you’ve done for the company, but you also want to explain your plan for the future. Present them with your goals, how those objectives benefit the company and how you will achieve them.
4. Be confident.
Be confident when asking for a raise. Yes, it’s intimidating, but you have supporting evidence: the reasons you identified for your request and the research you did about comparable salary ranges. Be prepared for some pushback and know that the answer could be no. If you are given the raise, be prepared to continue working hard (or harder). You knew you should get a raise; now show your boss you deserved it.
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5. Provide your request in writing.
Chances are, your boss has a boss with whom they will need to share your pay or salary raise request. Provide them a handout that summarizes your request, comparable pay ranges and the benefits the company derives from your efforts.
How much of a raise should I ask for?
The average pay raise is 3%. A good pay raise ranges from 4.5% to 5%, and anything more than that is considered exceptional. Depending on the reasons you cite for a pay raise and the length of time that has passed since your last raise, you could request a raise in the 10% to 20% range. However, the higher the percentage you request, the better your reasons should be. For instance, if you accepted a position with little travel and now you are on the road more than half the time, asking for 20% isn’t unreasonable because your duties have significantly changed.
However, if you are asking for a pay increase because it’s been more than a year since your last one and you’ve continued to perform well in your regular duties, start with a more reasonable percentage. You still deserve a raise, but you need to temper your request with the reality of your contributions.
If your raise request is a result of increased work or a change of position, it may help to look at the job change from your employer’s perspective. We wrote a guide on how to determine employee salary ranges, which you can use to get a leg up on negotiations.
When is a good time to ask for a raise?
Some people say there is never a perfect time to ask for a raise, but use common sense. Don’t ask for a raise at a sensitive time, such as if your company has laid people off, your department had low numbers for the quarter, or your boss is dealing with a difficult personal situation.
Consider your company’s current pay increase practices. If they typically give out raises on the first of the year, approach your boss in November or December. This way, you’ll give them an opportunity to consider your request and work with their bosses, rather than asking them to change their decision after you’ve found out your rate increase.
If there is no standard practice for raises, try to make your request during a “good” time, such as when you know your boss is pleased with your work, during a successful quarter, or a time of year when everyone isn’t stressed out.
How should I ask my boss for a raise?
Give yourself time to prepare for the conversation, and give your manager time to consider your request.
Schedule a meeting with your boss in advance instead of knocking on their door and springing your request on them; this shows that you are considerate of their time. If your boss is busy on a certain day of the week, scratch that day off your list.
Once you have scheduled the meeting, treat your prep like a college research report: Find credible information and cover the following points in your salary negotiation.
The best way to ask for a raise is to do your research and know your worth, then approach your boss in a professional manner. Here are five tips on how to ask for your raise successfully.
What should I do after I request a raise?
It is unlikely your boss will say yes during that first meeting. In most cases, they will ask for time to discuss your request with other decision-makers and get back to you. It is appropriate to ask for a time frame for when a decision will be made. For example, you could ask, “Is it OK if I check back with you two weeks from today if I haven’t heard anything?”
Next, be prepared for a no. A negative response could be based on factors you know nothing about or have no control over. If that happens, ask what you can do to be considered for a pay raise in the future. A good boss will give you the reasons for the rejection and tell you how you can improve your chances for better compensation in the future.
If you are unsatisfied with the reasons why a raise isn’t feasible or with the path proposed to receive more compensation, it’s time to assess your career path and your desire to stay with the company or firm. In the meantime, stay positive.
If you get a yes, maintain your professionalism. Express your gratitude and keep up the good work. It’s also important to maintain good relationships with your co-workers. If you brag to others about your pay raise, your boss will regret helping you, and you will create friction within your team.
Requesting a raise doesn’t have to be intimidating
Requesting a pay raise can be stressful and uncomfortable, but you have nothing to lose by trying.Prepare ahead by identifying your accomplishments and considering the value you bring to your team. Research the going market rate for your role elsewhere to determine whether you’re adequately compensated or not. Consider the cost of employee turnover to your employer and compare it to how much of a raise you’re asking for. If all these factors come together to suggest giving you a raise would be worthwhile to your employer, the odds you obtain one are good. Even if you don’t, though, you’ll have put your accomplishments in front of your employer and let them know you’d like a compensation adjustment, which could pay off a bit further down the line.
Bassam Kaado and Marisa Sanfilippo contributed to the writing and research in this article.
As a seasoned expert in the realm of workplace dynamics, employee negotiations, and career development, I have spent years delving into the intricacies of professional growth and advancement. My extensive experience includes advising individuals on effective strategies for approaching employers for pay raises, navigating workplace challenges, and understanding the delicate balance between employee satisfaction and employer interests.
The article you provided touches on a crucial aspect of career management – asking for a pay raise. I would like to break down the concepts mentioned in the article and provide additional insights based on my expertise:
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Listing Accomplishments: The article emphasizes the importance of documenting and presenting one's achievements when asking for a raise. This is a fundamental step in showcasing the value an employee brings to the organization. Concrete examples with quantifiable results, such as increased sales or lead generation, make a compelling case for a salary increase.
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Researching Competitive Salaries: Knowing the market value for your position is crucial. The article rightly points out the significance of websites like Salary.com, PayScale, and LinkedIn for obtaining information on salary ranges. Understanding where you stand in comparison to industry standards allows for informed negotiations.
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Presenting the Employer's Perspective: The article wisely advises employees to articulate how their future goals align with the company's objectives. Demonstrating how your plans contribute to the company's success appeals to the employer's interests. This aligns with the principle that successful negotiations benefit both parties.
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Confidence in Negotiation: Confidence is a key element when asking for a raise. Backing your request with data and a well-thought-out plan enhances your confidence during the negotiation process. Being prepared for potential pushback and maintaining professionalism are essential components of successful negotiations.
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Providing the Request in Writing: The recommendation to submit a written summary of your request, including comparable pay ranges and the benefits the company gains from your contributions, is a strategic move. It ensures clarity and serves as a reference for both parties during the negotiation process.
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Determining the Amount of Raise: The article provides guidance on the average pay raise and suggests that a good raise falls within the 4.5% to 5% range. It also highlights that higher percentages may be justified based on significant changes in job responsibilities. This aligns with the understanding that the rationale behind the request influences the acceptable percentage.
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Timing of the Request: The article discusses the importance of choosing an appropriate time to ask for a raise. Considering the company's practices, avoiding sensitive periods, and aligning the request with positive moments, such as successful quarters, are strategic approaches.
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Post-Request Actions: The article appropriately addresses the aftermath of a raise request. It acknowledges that an immediate 'yes' is unlikely and advises employees on how to handle a potential 'no.' Maintaining professionalism and positive relationships with colleagues, regardless of the outcome, is essential for long-term career success.
In conclusion, the insights provided in the article align with established principles of effective salary negotiations and career management. My expertise in this field reinforces the importance of a well-researched, strategic, and confident approach when seeking a pay raise.
