Most people avoid asking their boss for a raise for fear of coming off as greedy or to avoid a potentially awkward conversation. But, they could be missing out on a lot of well-deserved cash as a result. So, here are our 5 best tips to successfully ask for a raise.
1. Pick the right time
Timing is everything. You don’t want to ask your boss this question first thing Monday morning or after a stressful day at the office. Instead, capitalize on a moment of success. If you made a big sale or have recently gotten great feedback from a client, take advantage of this and approach your boss.
2. Focus on your accomplishments
When framing your pitch, take into consideration recent or notable contributions you have made to the company or your employer. Demonstrate to them how you have gone excelled in your position or have directly led to increased revenue. Try to frame this using numbers such as “I secured over 100 high-paying clients in the past two years, which has led to over an extra $500,000 in sales.”
3. Don’t mention personal needs/finances
Your rent may have gone up or you may have an unexpected financial strain come up. While it’s ok for these to be one of your reasons to ask for a raise, you shouldn’t mention them in your pitch. Stick to your accomplishments and other business-related reasons instead.
4. Be open to taking on more responsibility
If you are dead set on earning more cash—don’t be shocked if you have to put in more work to get it. Master all of the responsibilities of your current role and then go the extra mile. It will be harder for your boss to say no if you are truly going above and beyond.
5. Have a plan if the answer is no
It is highly unlikely that your boss will say yes on the spot. If the answer is maybe, make sure you are clear on what the next step should be on your part. Ask your boss what’s a good date to check back with them for their decision.
If the answer is no, you can take the opportunity to ask your boss what they would like to see from you in order to achieve a raise in the future. You can then decide if you would like to follow the recommendations of your boss to receive a future raise. If your boss is unable to give you any tips on improving your work, you may want to consider leaving this position if you are set on earning more money.