How to Ask Your Boss for a Raise

In the work environment it’s hard to come up with a task more nerve wracking and feared than the act of asking your boss for a raise. In a perfect world you would always be recognized for your hard work and be scheduled for regular pay raises and promotions to keep climbing the corporate ladder and taking on more responsibility at work. However, life is not perfect and oftentimes the fact that you are long overdue for a raise at work is not at the forefront of your boss’s mind. 

It’s understandable that with a large team of employees to manage and a company to run, those in charge will forget to keep track of time frames for each employee and when it is time for pay raises. Sometimes the only time employee raises are discussed behind the scenes is when companies are undergoing internal transitions or searching to fill a new position in-house. You cannot simply remain in your position without advancement until you are considered for the new job opening though. Therefore, almost every professional will need to broach the subject of a raise with their employer at some point in their life; probably you will need to ask for raises many times over the span of your career. 

Because of the absolute importance of requesting fair pay but the complete trepidation of approaching your boss with this need, we have asked founders and CEOs of top companies how they recommend employees approach their employers to ask for a raise. 

How Often Should Employees Receive a Raise?

The acceptable rate for requesting and receiving raises is once a year if you have been working at your company for more than twelve months, and you can start asking after the six month mark if you feel you have offered value at work. However, many people do not ask for raises as often as they can or should. Marketplace.com conducted surveys on workplace dynamics and found that 63% of workers have never asked for a raise. While people are shown to discuss their wages with their co-workers, particularly those within the 18-34 year old age range, they don’t approach their employers for conversations about pay for various reasons.

Workers often stop themselves from asking for raises due to fear that they will be denied–or just anxiety about the seemingly confrontational aspect of the meeting in general–and because they don’t realize how often they could be asking. The good news is that the Marketplace.com poll also showed that between 74-82% of employees, working both full and part time hours, received the raises they asked for.

This news should inspire you to gather your courage and approach the subject of pay with your superior. In addition to your courage, you should also gather records and data on why you deserve a raise.

 

Highlighting Your Performance

The best way to approach asking for a raise is by outlining the reasons why you deserve increased earnings. You should come to the meeting with your boss armed with examples of your past work, illustrations of your past success in the company, and even samples of the results of your previous tasks. Always come prepared to sell your strengths and progress. 

List Your Performance Metrics

“Asking your boss for a raise can be awkward. However, it doesn’t have to be. When asking for a raise, list your performance metrics and explain that you are going above and beyond what is expected of you. You can even create a presentation explaining your reasons for asking for a raise. When you stick to the facts, you have a greater chance of increasing your earnings,” says Heidi Streeter, Founder of Holiday St.

Explain the “Why” for You Deserving a Raise

“When you ask for a raise you should always outline what strengths you bring to the table and have been consistently offering to the company; give the reason “why” it is that you should earn a higher pay scale. While it may be accurate, using the reason of “Because it’s time for me to get a raise” is not a strong argument. If you can’t offer any concrete examples of your performance and all you’ll continue to offer moving forward, chances are your employer won’t be impressed with your pitch,” says Jeremy Goldstein, CEO of Navitar.

Arrive to the Meeting with Confidence

“One thing you always need to bring to a meeting with your employer regarding your raise is confidence; no worker should arrive to such an important discussion without first reminding themselves of all they provide. In your meeting to request a raise you are essentially pitching yourself to your boss as an investment to the company, and as such they need to pay you a competitive wage. Reminding your boss of your previous work experience and successful results at the company often looks like first reminding yourself. Remember: no one is going to fight for you like you need to, so stand your ground and don’t allow yourself to be underpaid for your work,” says Courtney Buhler, CEO & Founder of LashPRO Academy.

Justify Your Request for a Raise

Author and founder of Fit Body Boot Camp, Bedros Keuilian, says asking for a raise is all about showing what steps you are willing to take to increase your productivity and value to the company. He recommends you come armed with data on how the steps you take will increase profits for the company.

“The No. 1 thing I look for is results that directly impact profits. That’s why the biggest mistake employees make is arguing their case based on their expenses. It’s not your boss’s job to produce more money because your life has changed. If you want to negotiate higher pay, you need to justify it. Demonstrate how paying you more will produce greater outcomes in the only area that matters: Sales. I don’t know a single CEO with a limit on how much they would pay someone who produced a positive ROI for their salary. How much value can you add to the bottom line? Show me that you will close more deals if I pay you more commission because you would work weekends or get an assistant, for example. If you can do that, you will get pretty much whatever you think you’re worth — and then some,” said Bedros Keuilian, Founder of Fit Body Boot Camp. 

Come Prepared with Evidence

“As someone who has been approached by employees asking for raises at work, I have come to realize what particular strategy really stands out to me and helps me to make an informed decision: it is when an employee comes to our meeting with evidence of their work. Most people know the best way to ask for a raise is to cite performance metrics, but I appreciate it when I am met with comprehensive physical data on an employee’s performance. I’m talking about letters and other writing containing praise for and recommendations on the employee, statistics and graphs outlining their concrete numerical success, a list of their achievements and growth, and examples of the further training and experience the employee has gained since their last raise that increases their value to the company. Rather than needing to collect this information myself before making a decision, when the employee approaches me having done their homework I always find myself impressed with the results I’m shown and usually the conversation ends as a positive one for both of us,” says Corey Ashton Walters, Founder & CEO of Here.

Highlight Your Work Ethic and Attitude as Much as Your Performance

CEO and founder of Hint, Kara Goldin, says that there are certain factors employees should take into account when asking for a raise in order to receive the best results. She details that while providing reasons for why you deserve a raise is certainly the right tactic, she does not merely look at the numbers when assessing whether a raise is earned but also pays attention to the character and attitude of the employee.

“Confidence is your best tool, but you want to avoid coming off as egotistical. When people believe in themselves and back it up with their actions, I’m more excited to meet their raise request so I can keep them happy and motivated. Make sure you come to the table with proof of the value that you bring to the company. What are the results you’ve helped produce, the problems you’ve helped solve, and the revenue-boosting ideas you’ve contributed? For me, it isn’t just about qualitative results. It’s vital that you are an upbeat player in our company culture. Are you an influential member of the team? Would others vouch for your work ethic or attitude? If you have glowing reviews or notes from your peers or managers, print them out and present them at your salary negotiation,” said Kara Goldin, Founder and CEO of Hint.

 

Prepping Beforehand

When it’s time for your meeting with your employer you will probably feel some nerves over the importance of the conversation. It’s totally normal to feel this way but you can do yourself a favor and make the moment less stressful by being prepared. There are certain steps you should follow beforehand to ensure you are fully ready to make your case to your boss.

Discuss What Is Needed for Advancement with Your Boss Before Officially Asking

“Sometimes before officially asking your employer for a raise it is a good idea to have a discussion with your boss. Let them know you want to be continually advancing at the company and then ask what steps they would like to see from you in order to place you on that growth trajectory. Discussing what is needed from you in order for you to deserve a raise is a great way to approaching the topic of advancement because it prepares your boss for the conversation so they’re not caught off guard by your request, it shows great initiative, and it gives you a better chance of receiving a raise,” says Jae Pak, Founder of Jae Pak M.D. Medical.

Take On More Responsibility at Work in Preparation

“We all do what we need to at work in order to advance. Oftentimes this looks like taking on more responsibility to demonstrate your hard work and investment in the company. When employees come to me saying that they want to work towards a raise and ask if I can give them more responsibility so they can prove themselves, I feel extremely impressed with their work ethic and approach. I don’t think any boss would deny such a request unless they didn’t have the budget for a raise or had recently promoted the individual. This method of asking for a raise is effective because it shows the work rather than just the talk of who you are and what you can do,” says Jason Wong, CEO of Building Blocks.

Research the Market Rate for Your Position

“In order to be fully prepared to request a raise you’ll need to do some research beforehand. It would be pretty unreasonable to ask for a pay raise far outside the going rate for people in your position with your experience, but you also don’t want to sell yourself short. Rather than just blindly throwing out numbers that may shock your boss, save yourself the stress and calculate what you can reasonably expect. You should research the market rate for your position, skill set, and experience; you’ll also want to research how your company offers raises. If they always increase employee pay by five percent, chances are they have a strict policy on pay raise trajectories. You don’t want to then ask for ten percent because you’ll probably be declined. You can save yourself a lot of grief if you do your homework first,” says Dylan Fox, Founder and CEO of AssemblyAI.

Align Your Meeting With the Company’s Budget Cycles

“Different companies have different schedules for approaching employee salary increases. For example, it could be at the same time for all employees during the fiscal budget overview, or at each employee’s start date anniversary. Be aware of your company’s specific budget cycles and time your request. It’s a wise idea to bring up your request a little in advance of the budget process so you aren’t too late–a month or two would probably be a good timeline,” says Matt Woods, Co-Founder & CEO of SOLD.com.

 

Accepting the Results

You’ve prepared your research and performance metrics and you met with your boss to ask for a raise. What happens next? The response you received may have been a “Yes” and you get to continue working under an increased salary, or your response might have been one you didn’t anticipate. Many factors go into employees receiving raises, so sometimes the process isn’t simple or quick. You may have been told to ask again after some time has passed or you may have been given reasons for why it isn’t feasible at this time. Whatever the response, you need to be prepared to move forward in light of the changes.

Be Prepared for a Negative Answer

“Unfortunately, we live in a world where sometimes the answer to the question of a raise is ‘no.’ Your employer should always explain why they are not going to offer you a raise, so don’t be afraid to ask for clarification on the reasons you were declined. Often the answer “no” to a raise is followed with an explanation of poor timing, in which case you might be asked to follow up in a certain amount of time or after you have advanced in a particular way. Don’t let yourself be discouraged if the answer you receive is not what you were hoping for. Remember that you still have all your research and data collected; save all your reports for the next meeting. A company that truly cares about you will provide you with a raise when they feel the time or progress has been reached,” says Jared Hines, Head of Operations of Acre Gold.

Understand the Stipulations of the Raise

“You compile your evidence of your strong performance, you present the data to your employer and–you get the raise! That is an exciting moment and one you can be proud of. But remember that while you earned your raise, your boss is going to expect the same quality of hard work from you. Now that you have the pay increase, be prepared to still raise the bar and offer exceptional results. Sometimes raises are conditional and come with stipulations. You might have been offered a raise with the condition that you take on more responsibility or achieve certain performance benchmarks. Your dedication to your work will need to continue as you advance with the company,” says Dylan Arthur Garber, Co-Founder of Audien Hearing.

Although asking your boss for a raise is a daunting prospect for many people, don’t let yourself be one of the many who are too afraid to ever ask. Remember to collect praise, data, and results of your work success to present at your meeting, and complete your research into what the market rate is for your position. Coming prepared with all the facts will help you to stay confident in your request. Keep advocating for yourself and the pay you deserve, and with a little preparation you’ll ace your meeting with your boss.