How Do You Know When It’s Time to Ask for a Raise?
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Many professionals face what can sometimes be an intimidating experience at a point in their careers: asking for a raise. Some fear that requesting a raise can cause conflict with an existing or potential employer. While it ultimately depends on your workplace culture, asking for a raise in a professional manner shouldn’t lead to such extreme outcomes.
While some experts say that a raise should come within six months to a year of being in your role, a variety of additional factors play a part in whether or not you’re eligible for a raise.
If you’re unsure when you should ask for a raise from your employer, consider the following moments as crucial times to ask for a raise.
During your performance review
An expected time to ask for a raise is during your quarterly or annual performance review. During this meeting, your manager or supervisor will provide feedback on your work performance, offering constructive criticisms if needed. They'll mention if you meet the requirements for a raise during your review process. However, if nothing is said about a raise, don’t hesitate to speak up if you believe you’ve exceeded your job’s expectations.
If possible, provide examples of your job performance using metrics. For instance, if you’re a customer service representative, you may explain how your customer satisfaction rate increased by 25% in the last quarter. Highlighting your success during the performance review shows your accomplishments in your role, which makes an excellent case for getting a raise.
When you’ve received a promotion
While most assume that a promotion leads to a raise, that isn’t always the case. If you’ve leveled up into a new role within your company, it’s time to get a raise. If you haven’t accepted the promotion yet, ask your manager or supervisor if your new title and responsibilities come with a raise.
You got a job offer from another company
If you’ve received an offer letter, it can be an excellent opportunity to ask for a raise at your current employer. Sometimes, managers will try to match or offer a higher raise if you’re a talented employee they’re not ready to let go of. Companies will do whatever it takes to keep talent that exceeds their expectations.
Bonus tip: understand the market you work in
Do some research on what people typically get paid for a job like yours using our Career Insights tool. Every job has a distinct salary range that will change based on the stage you’re at in your career, the profit margins of the company and your location. You can also do some research in the form of asking coworkers that you trust how much they make. It’s important to gain some context so that you can know if you’re being underpaid or understand what room there is for growth.