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How to Ask for a Raise: A Step By Step Guide

Writer's picture: Ed VoelsingEd Voelsing

Two men in an office, one explaining while gesturing. Both wear blue shirts. Papers and a glass of water on the table, bright background.
Two men in a business meeting, engaging in a focused discussion with documents on the table.

The New Year means performance appraisals are right around the corner.  It’s also one of the best times to ask for a raise. 


Asking for a raise can be one of the most nerve-wracking conversations to have in your career. However, with proper preparation and the right mindset, you can approach the discussion confidently and increase your chances of success. Here’s a step-by-step guide to help you navigate the process:


1. Research Your Market Value

Before initiating the conversation, research the average salary for your role, experience, and location. Use tools like Glassdoor, Payscale, or LinkedIn Salary Insights to gather data. This will give you a realistic benchmark and ensure your request is well-founded.  You can also compare notes with your peers.  Especially any new hires – who may have been hired at “market rates” higher than people who have years of tenure.  While managers HATE when employees compare pay stubs, they cannot prevent you from discussing wages with your coworkers. 


2. Evaluate Your Contributions

Reflect on your achievements, skills, and the value you bring to the organization – including the additional experience and new skills you gained in the past year. Create a list of accomplishments, such as:

  • Projects you’ve successfully completed.

  • Revenue increases or cost savings you’ve contributed to.

  • Any additional responsibilities you’ve taken on – especially if they have reduced the team size but not the workload.

  • Any new skills or certifications you’ve gained.

  • Duties and tasks outside your job description such as training new employees.

  • Don’t be afraid to point out the increased costs of being an employee.  Especially if they have asked you to be in the office five days a week.  Daycare, after-school care, commuting costs, parking, etc.  If they want you to RTO, they should contribute to the cost of it.


3. Timing is Key

Choose the right moment to ask for a raise. Ideally, schedule the conversation:

  • During performance reviews.

  • After completing a significant project.

  • When the company is performing well financially.

Avoid periods when your manager or the company is under high stress or facing financial difficulties.


4. Prepare Your Pitch

Craft a clear and concise case for why you deserve a raise. Your pitch should include:

  • Your achievements and contributions.

  • Market research data supporting your request.

  • A specific salary or percentage increase. 

Practice your pitch to ensure you sound confident and professional.


5. Request a Meeting

Email or speak to your manager to schedule a meeting. Be polite and direct, mentioning that you’d like to discuss your compensation.

Example: “Hi [Manager’s Name], I’d like to set up a time to discuss my role and contributions to the team, as well as my compensation. Would [specific date/time] work for you?”


6. Handle the Conversation Professionally

During the meeting:

  • Start by expressing gratitude for the opportunity to work with the team.

  • Present your case confidently but respectfully.

  • Be open to dialogue and listen to your manager’s perspective.

  • Don’t make any threats to quit if you are not prepared to do so.


7. Be Prepared for Responses

Your manager may:

  • Approve your request immediately.

  • Counter with a different amount.

  • Decline your request but offer a timeline for a potential raise.

Stay composed and professional, regardless of the outcome. If your request is declined, ask for constructive feedback and steps to improve your chances in the future.


8. Follow Up

After the meeting, send a thank-you email summarizing the discussion. This is a really important step as this reinforces your professionalism and puts the conversation on record.

Example: “Thank you for taking the time to meet with me. I appreciate the feedback and guidance you provided. I’m excited to continue contributing to the team and working towards our goals.”


Make sure your boss (and HR) follow through on their promise – even if they say “Let’s discuss it later.”  Delaying a raise by a few weeks could cost you hundreds or thousands of dollars in lost wages.


Final Thoughts

Asking for a raise is a normal part of professional growth. From my experience, you don’t get what you don’t ask for. 


Better compensation, especially early, will amplify for the rest of your career – both with future pay raises as well as other things like 401K growth.  With thorough preparation and a respectful approach, you can confidently advocate for your worth.


Remember, the worst they can say is “no” but a “yes” is more likely. Take it from me, your friendly headhunter, that a pay raise is much cheaper than finding a replacement.

If they do say no, maybe they just don’t value you as much as you think or they just cannot afford it.  Then it might be time to consider a new employer, who might be willing to pay you 10-20% more or offer other things you don’t have like stock options or pre-IPO shares.  (My personal record was getting a candidate a 50% pay raise.) 


While employers might not like to hear this, job security is pretty fleeting these days, so treat yourself like a professional athlete – if another team is willing to pay you what you are worth or offer you a chance at a bigger better career, maybe it’s time to move on.


Thanks for reading.  I’m Ed Voelsing and I’m the owner of the Rivet Group, a boutique executive search firm working with middle-market growth companies to find the leaders they need to get to the next level.  I write about career growth, recruiting, building company culture, and personal success. 


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