Regardless of your age, profession, or level of experience, these six strategies can help you get the raise you want.
1. Prepare and research before asking for a raise
The starting point for getting the raise you want is research. You’ll likely need to negotiate and advocate for yourself, so first you’ll want to know your company’s rules regarding salaries (or hourly wages) and raises. Your employer may rely on wage or salary surveys or other fixed criteria to set employee pay.
2. Explain how you benefit the company
List your contributions to the business and your team. Providing details about your efforts and successes is essential to getting the raise you deserve.
3. Create a persuasive pitch for a pay increase
You may boost your likelihood of getting a raise with a formal pitch. An organized proposal makes your case for a pay increase more compelling than a simple conversation.
4. Pick the right moment to ask for a raise
Choosing the best time to present your pitch can play a big part in your manager’s decision.
Your annual performance review is a logical opportunity to ask for more pay, since your manager is already evaluating your accomplishments. If you’re achieving your goals, you’re well positioned to get a boost in pay. And if you outperformed, you may see an even healthier increase.
5. Follow up until you get a decision
After delivering your pitch, you may have to wait before a decision is made. That’s normal. Managers often need time to review your request, which may include consulting with the human resources department, reviewing budgets, or getting approval from upper management.
6. Respond strategically if your request for a raise is denied
As the old saying goes, a good offense is the best defense. If your request for a pay increase is rejected, there are steps you can take to improve your chances next time or at least win some concessions.