Increasing Your Income

Not Sure How to Ask for a Raise at Work? 9 Tips to Get the Raise You Deserve

August 30, 2022
Learn how to ask for a raise at work with these 8 tips and gain the confidence to advocate for your worth.
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Britt & Laurie Anne
Two female investors in their 30s with a collective net wealth of over $6 million+
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Have you ever asked your boss for a raise? If not, you’re not alone. A lot of people have NEVER asked for a raise…especially women+.

Most people don't even know how to ask for a raise at work.

We’re taught that talking about money is rude. When was the last time you talked to your friends about your salary or savings…or anything money-related? Because “polite people don’t talk about money,” we don’t know how to talk about money, even in a professional setting.

Today, consider me your career coach, because we’re going to change that.

How to Ask for a Raise at Work

Asking for a raise is probably one of the most nerve-racking conversations you’ll ever steel yourself up for. But sometimes (most of the time), things won’t just fall into your lap; you have to speak up to get what you want.

So, here are 8 tips to help you prepare, feel more confident, and get your well-deserved raise.

1. Know that asking for a raise is normal

Hopefully, you enjoy your job. But at the end of the day, you’re there to make money, and your employer should be well aware of that.

Asking for a raise is all part of getting ahead in your career. Just because it is your first time asking for a raise doesn’t mean it is the first time this has ever happened — these conversations happen all the time — and it likely won’t be the first time that your boss or manager is having this conversation.

2. Be thoughtful about your timing

Before you ask for a raise, make sure it’s a good time. A few things to consider:

  • How is the financial health of the company?
  • Did your company just go through layoffs? Is it in a hiring freeze? Are there budget cuts?
  • How’s your manager’s workload?
  • When is the best time of year to ask for a raise?
  • Have you successfully completed a significant task or project? Have you been performing well at work lately?

3. Know the market value of your work

Compare your salary to current trends. Are you being paid a competitive salary or is it below average? Identify a salary range or percentage increase you’d be happy with.

4. Consider your qualifications

Write out your accomplishments. Here are a few things you can include:

  1. How has your company or department directly benefited from your work?
  2. Have you increased sales or revenue by X%?
  3. Were you included on any big projects?
  4. What positive feedback have you received?

As you go through this, make sure to be specific – use as many quantifiable stats as possible.

And don’t be modest – we tend to cushion our requests with phrases like “I feel” and “I believe.” Be confident in the value you bring. Practice talking without qualifiers

5. Consider what you’ll bring to the company in the future

You’re asking for a raise because you’ve shown value and initiative in your current role…but you also want to make it clear how you plan to continue growing with the company if you get your raise

Think about where you want your career to go and how you can help the company succeed moving forward.

6. Set a meeting

Give your boss a heads up that you want to talk about your current role and salary. Try to avoid ambushing them with your request; it’ll make the meeting better for everybody.

Also, try to find a time they don’t have a meeting right after. That way, you can both say everything you need to without the distraction and pressure of an upcoming meeting.

7. Rehearse

Think about what you want to say in advance and actually practice saying it.

8. Prepare for questions or objections

Your boss may not bring up any objections, but you’ll feel better just being prepared for any potential comments, like, “I’d like to see you do X more.” Even if your response is only, “Thank you for your feedback,” you’ll feel better if you brace yourself for everything.

9. Thank your manager

This is just good manners. However the conversation went, thank your manager for making time for you, hearing you out, and if they give you any feedback, thank them for that too.

Ready to Ask for a Raise?

I know that asking for a raise is nerve-racking. But honestly, with our current inflation, if you don’t ask for at least an 8% raise, you’re going to be making less than you did last year.

It’s time for you to step up and speak up for yourself. Because, chances are, no one else is going to do it for you.

If you want to learn more about how to use your new salary to work for YOU, be sure to check out our free masterclass, Build Wealth as a First-Time Investor. In it, we walk you through the three-step system I used to pay off $40,000 of debt and grow my net worth to over a million dollars.

Now that you know how to ask for a raise at work, go get your raise!

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