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When and How to Ask for a Raise: Here Are Tips

If you’ve been working for a company for quite some time now, you may feel that the salary you’re getting is no longer enough to take care of your expenses. Maybe you’re looking to buy your own house. In order to make that happen, you’ll need income verification for mortgage. And if you have to go through that, you definitely need a higher salary if you want to secure that loan.

You could always look for another job that pays more. But considering that the economy is a bit unstable and many companies are freeze-hiring, looking for another job might not be the best option right now. So, perhaps asking for a raise would be the best way.

How do you do that? Here are some tips to help you ask for a raise without experiencing an anxiety attack and without offending your boss.

Assess your standing in the company

You can ask your manager for an assessment of your performance. And if it looks like you’re doing well, you can move forward to asking for a raise. Also, try to recall any task or project you were a part of that you made a significant contribution to.

The gist here is that before you ask for a raise, you should make sure that your current performance is good enough to merit you a salary increase. If you’re performing well, meeting deadlines and making significant contributions to the company, you’re in a better position to ask for a raise.

Check the financial standing of the company

So, you’ve checked how you’re doing in the office and it seems that you’re a huge asset to the company. Before you head over to your manager’s office, check the financial health of your company first. You may be an asset to the whole organization, but if your company is doing moderately well, your boss may not have the funds to give you that raise.

Check your boss’ mood

Even if you’re performing well and your company’s financial situation is stable, you could still hit a roadblock if you approach your manager when he’s not in the mood. If your manager is busy with his own tasks or if he’s trying to do some damage control, it’s not the best time to talk to him about a raise.

So, watch your manager closely and try to gauge his mood. You need to know if your boss is having a bad day or not because it will largely depend on his eagerness to give you that salary increase.

happy businessman in front of laptop

Learn salary trends

You need to know the salary range for your position so that you’ll have a clear idea on how much you can ask for in your raise. Don’t go to your manager without a clue on how much you should ask for, otherwise, your request will likely get rejected.

Schedule a meeting

Schedule a meeting where you’ll talk to your boss privately. Don’t ask for your raise candidly. In fact, you should find a venue where both of you won’t be disturbed so that you can argue your side properly. Be patient.

Asking for a raise can be daunting and even if you go by the book, there’s still no guarantee that you’ll get the salary increase you deserve. But, don’t fret because if you truly deserve that raise, you’ll get it eventually.

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