Money is a touchy subject. The cost of living is going up all the time, and it’s only fair that our wages reflect that. Even if you love the work you do, feeling as if you’re underpaid is going to affect more than just your finances. You might feel underappreciated, stressed, and miserable.
If you’ve done great work for a company, or you’ve been with them for a long time, it’s natural that you should start thinking about getting a raise. As your hours and responsibilities increase, it’s fair to expect more compensation for your efforts. Loyalty should also be rewarded.
The problem is that most companies won’t simply hand out extra money, even if you’re worth it. If your employer thinks you’re happy with the compensation you have for the work you’re doing, they won’t try to change anything. If you want a raise, you’ll need to ask for it. There’s a right way to go about asking for a raise - and there’s a wrong way. Getting rejected for a raise feels bad, and often leaves a bad feeling between you and your employer.
Maybe you’re feeling stressed and nervous at just the idea of asking for a raise. Good! Asking for a raise is a serious request, and you need to approach your employer in the right way - at the right time. Let’s talk about the best time to ask for a raise - as well as how you should go about it.
Get Your Ps in Order
Asking for more money isn’t something you should do on a whim. Asking for a raise when you frankly don’t deserve it can be taken as an insult, and can be met with a resounding no.
An incoherent or poorly prepared pitch is not going to convince your employer that you deserve more money. Before you schedule a meeting or knock on your employer’s office door, you need to get your P’s in order. Prepare, Practice, Pitch, and Pick your moment.
Prepare
Asking for more money is a serious request. You can’t just stick your head into your employer’s office and ask. It’s best to schedule a time to meet and set aside time before that to work out what you’re going to say.
Preparation is key to well-worded and confident delivery. Don’t just think about how you’ll ask for a raise, or how much you’d like to ask for. Think about possible queries or objections your employer might raise, and how you would deal with them. You might want to review some of your recent figures or accomplishments and present them in a way that convinces your employer that you really do deserve a raise.
None of this will come across effectively if you haven’t prepared. Finding yourself unable to say what you want or combat any of your employer’s objections doesn’t look good for you, and it could well make the difference between getting a raise or not.
Practice
Once you’ve worked out what you’re going to say, set aside time to practice. This ensures that when the time comes, you can present your case in a fluent, confident manner. If possible, ask a friend, family member, or trusted coworker to listen to your pitch. They can tell you how it sounds, and how you might improve.
Of course, you don’t want to parrot off your pitch with no thought or feeling. You need to convince your employer that you really do want a raise, and it’s more than just a formality. Sounding over-rehearsed can make you seem anxious and emotionless, and can actually throw a spanner in the works if your employer says or does something you didn’t expect. So, the key is balance. Be familiar with your material, but don’t memorize a script.
Performance
Even if you’re on great terms with your employer, they’re still your boss. Asking for more money is more than a casual chat - you need to build a case. If your family is suffering financial difficulties (for example, you might need to find college money for your children, or another child is on the way) you could mention that. Don’t make it the cornerstone of your pitch, however.
Before you ask for a raise, you need to be confident in your own performance. Sub-par work or lukewarm commitment isn’t going to convince your employer that you deserve more money. Remember, your employer knows you. They know whether or not you’re a hard worker, and how well you get on in the company. The best-worded pitch in the world won’t do you any good if your employer can look at your figures and accomplishments and see that you aren’t doing well.
Review your recent accomplishments and what you’ve done for the company. Make sure your recent performance has been excellent. If you’ve been doing badly at work recently, for whatever reason, your employer won’t want to invest in you as a worker.
Pitch
Once you’ve prepared, practiced, and double-checked your performance, it’s time to pick your moment and make your pitch. Regardless of how well-prepared you are, or how well you’ve been performing at work, you could scupper your chances by an ill-timed appointment.
Choose a moment when your employer is relaxed and available. For example, scheduling an appointment right before lunch or fifteen minutes before the end of the workday isn’t a good idea. Your employer’s focus could be elsewhere, and they might even be impatient to end the meeting.
Scheduling an appointment is definitely the best idea. Otherwise, you might find yourself spending all day waiting for your employer to have a free moment (trying to talk to your employer while they’re on the phone with a client is not a good way to get a raise). Scheduling an appointment indicates that you have something important to say, and ensures that your employer will set aside that time to focus on you.
Negotiating an Offer
There is a good chance that your employer will reject your initial request for a raise, and give you a lower counter offer instead. Whether or not you accept that offer depends on the reasoning behind it - and, of course, how much the new offer is.
The danger of accepting a lower offer than what you requested is that your employer could assume that you overvalued yourself. That can lead them to undervalue you later. In fact, taking a much smaller raise can work out worse for you than if you’d chosen to stay at your current pay rate. You might decide not to take any raise at all until you can get the amount you’ve requested.
On the other hand, pushing too hard can also get you into hot water. Overestimating how much your employers are willing to give could lead to serious consequences, such as backing yourself into a corner. For instance, setting an ultimatum can be a very bad idea. What if your employer says no, and refuses to negotiate? Are you really ready to walk away from your job?
However, some workplaces negotiate raises as a standard practice. You might be expected to come in with a higher offer than you really want, and then your employer will offer a lower raise. You can either accept that raise or negotiate a new one.
How you handle negotiations can depend on your workplace and your employer. The best thing you can do is to go into your appointment knowing your own worth and what you expect.
Dealing with Rejection
It’s impossible to plan out a pitch for a raise without thinking of the dreaded question - what if my employer says no?
A flat-out rejection of your request is the worst-case scenario, but it’s one you should be prepared for. How you deal with rejection will depend on how the rejection was given. It will also depend on the reasons behind it.
Suppose you’ve carefully planned your pitch, chosen your moment wisely, and you know your recent performance has been beneficial to your employer. A flat-out refusal with no explanation can indicate that your employer has no respect for you and doesn’t value what you bring to the company. Don’t let it knock your confidence.
If your employer responds with a firm no, with no counter-offer or reasons given, it could be time to change jobs. Take the rejection with grace, and quietly use your current position to get another job somewhere else. You might notice an immediate difference once you’re working in a place that values you and your work.
Of course, there could be good reasons behind a rejection. For example, your recent performance may not be as good as you thought, or there could be other reasons. A good employer should kindly and respectfully lay out their reasons for a refusal, and may also give you some advice.
Rejection always stings, and it can be embarrassing. However, nobody but you and your employer should know that you requested a raise. In the meantime, try and work on the points your employer might have highlighted. Once you feel as if you’ve made progress, you can try starting the process of requesting a raise all over again.
Dealing with Success
The best-case scenario is that your request is granted. Whether you got the amount you initially asked for or negotiated a satisfactory deal, it’s time to celebrate!
So, what now? Do you sit back and relax, enjoying your extra salary?
Unfortunately, no. Your employer has just made a decision to reward you for your previous hard work - and invest in your future performance. Now isn’t the time to slack off. As your career progresses, so should your salary. To stay on track for your next raise, you need to continue on your upward trajectory.
One part of a raise pitch is outlining your future plans as an employee. You might talk about your ideas for the company, or where you see yourself in five years’ time. The point of the pitch is to convince your employer that you deserve a raise. Now, you need to follow through. Your employer has made an investment in you, and you took a risk to invest in yourself.
Is There Really a Good Time to Ask For a Raise?
There is certainly a good time to ask for a raise - and a bad time! For example, December or the beginning of a new year can be a good time to talk to your employer about a raise. The end of the year is usually the time when the next year’s budget is dealt with, and your raise can be fitted in then.
Of course, if you’ve already asked for a raise earlier in the year, you should wait. Nagging your employer for a raise won’t help you at all. In fact, it may directly hinder your cause. Employers want to see progress, and seeing how you’re working on the advice they’ve given is a very good sign. Asking over and over again is childish, and is the opposite of what an employer wants to see.
The best time for raise inquiries is when the company is doing exceptionally well, especially if you’ve had a hand in their success.
For example, suppose your company just landed a very big client, and it’s mostly thanks to your efforts. It’s certainly not unreasonable to ask for a raise after that kind of success. In fact, your employers might be expecting you to ask.
If your company is expanding, this can also be a good time to ask for a raise. In fact, you could even get a promotion and a raise at the same time. These opportunities are rare and pass by quickly. It’s good to keep a close eye on your company and be ready for any new opportunities.
Asking for a raise is nerve-wracking, regardless of how confident you are in your abilities. But remember: nothing ventured, nothing gained. If you ask for a raise, you may be rejected. However, if you don’t ask at all, you certainly won’t get a raise!
WRITTEN BY
Sophie H.