Throughout your career, there will be many points when it may be time to ask for a raise. Perhaps it’s been a while since you last had a salary adjustment, or maybe your job has changed, and you’ve taken on new responsibilities that warrant an increase.
Unless you just started with your company or recently received a raise, there’s no reason you need to wait for your employer to offer you an increase. Instead, you can ask. Just make sure you follow these best practices to maintain a positive relationship with your employer while advancing your career.
Wondering How Long to Wait to Ask For a Raise? Follow These Tips
Asking for a raise doesn’t mean you’re greedy or entitled. It’s a normal part of working life. It shows that you’re not one to sit quietly and hope you get the recognition you need. It’s also a sign that you value fair and competitive pay.
If you’ve never asked for a raise before or are apprehensive about doing it, keep in mind that you’re likely to get a raise if you ask for one. In a nationwide Payscale survey, 70 percent of employees who said they asked for a raise got one.
But asking for a raise isn’t something you should do on a whim. Like most things in your professional life, asking for a raise requires some thought and preparation. The last thing you want to do is have a conversation with your manager based on emotions rather than facts. Before you ask for a raise, ask yourself these questions:
- Timing: When should you ask for a raise (and when should you refrain from asking)? How often should you ask for a raise?
- Research: Do you know the competitive pay range for your position?
- Having the conversation: Do you know what you’ll say when you ask for a raise and how you’ll react if your manager doesn’t respond positively?
Asking for a raise is easier if you do a little homework in advance. Follow these tips to help you successfully ask for (and receive) a raise:
Pick the Right Time to Ask
Getting a positive response to your request for a raise is highly impacted by timing. In addition to knowing when to ask (and when not to), you also want to be thoughtful about how often you ask for a raise. A good rule of thumb is to ask for a raise no more than once a year. However, you may need to ask sooner than that if there has been a significant change in your role and responsibilities.
Here are some great times to ask for a raise:
- After you’ve completed a major win or a big project
- If it’s been more than a year since your last increase
- When you feel underpaid
- During your annual performance review
- If you recently received a promotion without a salary adjustment
Just as important as picking the right time to ask for a raise is knowing when not to ask. After all, you don’t want to spend time doing your research and preparing for a conversation with your manager only to hear the timing isn’t right.
Here are some not-so-great times to ask for a raise:
- When company performance is down
- If you’re a brand-new employee and haven’t had enough time to make an impact
- After you’ve had some job performance issues
- When your manager is distracted with a major project and might not have time to focus on your request
Do Your Research
A recent Business.org survey revealed that 77 percent of people didn’t think they were paid enough in their current roles. Before you ask for a raise, you should determine if you are truly underpaid or just desire a higher salary. If you’re underpaid, you may be able to find some data to help you determine what a more competitive wage would be for the work you do.
In addition to checking online salary sites and places like Glassdoor, you can also ask your network for insights about pay rates in your field. For example, individuals who have just hired someone in your area of work might be able to share the compensation insights they learned from candidates during the interview process.
When doing your research, you should also make sure you understand your company’s processes and approach to compensation, including whether there is a salary range for your position and what the next level in your job function pays. Additionally, some companies may only consider salary increases at the beginning of the annual budget cycle. When you’re informed about your company’s internal practices, you’ll be able to develop a more realistic view of what’s possible in terms of the timing and amount of a potential salary raise.
Consider How You and Your Role Have Evolved
It’s natural to expect your compensation to increase as you advance in job levels and responsibilities. Throughout your career, you’ve acquired new skills and learned how to master your role as it has grown in complexity. Maybe you’ve even gone back to school to earn an advanced degree in your field. If so, your pay should reflect these new skills and capabilities.
When you ask for a raise, you can make a stronger case for yourself by referencing your career growth and successes. Here are some examples of achievements you should be ready to discuss with your manager:
- Your handling of new job responsibilities
- Job successes, like leading projects and task forces
- Positive feedback you’ve received from coworkers and management about your performance
Know What You Will Say in Your Request
Thankfully, you won’t need to prepare a PowerPoint presentation to ask for a raise. But you should be prepared with facts and know how you will approach the conversation with your manager. For example, you’ll need to decide if you want to raise the topic with your manager during one of your one-on-one meetings or if you want to ask for a special meeting to make your request.
You should also be clear about what you’re requesting. Perhaps you’ve decided what dollar amount makes sense to you. Will you ask for that specific dollar amount, or will you ask for a general raise and be satisfied with whatever your manager offers? You should also consider your appetite for negotiation if your manager proposes an increase that you feel is too low.
Lastly, although your chances of receiving a positive response are pretty good, you may end the conversation empty-handed. If that happens, you should know what to say and do if your manager says no. There may be a business reason, or your manager may suggest additional work experience, education, or training to justify a raise. If so, you’ll need to determine the follow-up actions you’re willing to take to make yourself eligible for a raise in the future. If you feel stalled out in your current role, it may be time to consider a career change.
Prepare for the Raise You Desire
Knowing how long to wait to ask for a raise is critical to any successful career. If you’ve done your research and considered when and how you want to ask for a raise, you may determine that returning to school will improve your chances of getting the raise you think you deserve.
MVNU Online has several online degrees ideal for working adults. For more information about the online degree program that may be best for you, contact us to learn more.
