How to Ask for a Raise & Actually Get a Yes

We all want more money. And employers want to keep theirs.

This is a fact of life and a law of the universe.

However, raises happen and are possible if you know what to do and how to play your cards.

Most people screw up getting a pay raise because they’re only considering their own self-interests and not the interests of their superiors, employers, or the company. As a result, they shoot themselves in the foot.

Avoid this trap.

To get a raise, put your desires on the shelf for a moment and ponder what value you give to your organization and how your work has improved the culture, the company, and the bottom line.

Follow these steps to increase the likelihood of getting a raise.

Consider the Timing

How’s the economy?

What’s the pulse of the market?

Is the company turning consistent profits?

These are critical questions to ask before discussing a pay raise. Often, employees don’t get the raise they desire because they never consider the timing when they ask.

If you’re considering a raise, that’s great. But don’t shoot yourself in the foot without looking at the obvious question: What is the financial health of the company I’m employed by? 

If the company is floundering, it’s probably not the best time to ask for more money.

Another factor of timing is who you’ll be asking. If it’s a supervisor, manager, or the boss you’ll be asking, contemplate their current situation.

Do not ask for a raise if your superior has a packed plate and is stressed to the max. Paying attention to your managers' moods and identifying how you can help demonstrates a level of maturity that will aid you when you have a conversation about compensation.

But make sure the timing is right.

Know Salary Trends for Your Position

Every job has a corresponding market value.

If you go to your employer and ask for some outlandish, astronomical number, you’ll be laughed out of the room.

It may seem like a joke, but it’s detrimental to your success. That type of move showcases complete delusion and negatively affects you.

So, educate yourself. Research the salary trends for your position.

You might discover you’re getting paid more than the national average (I’ll still show you how to get a raise if that occurs). Regardless, keep a pulse on your market position and start looking at data.

Data is your best friend. Learn it and use it to your advantage.

When you do ask for a raise, ask for an increase of about 10%-20% more than what you’re making now. But anticipate agreeing on a lower amount. Be pleasantly surprised if your employer agrees, but don’t expect it.

Now, you might ask: “Will I get fired for asking for a raise?” 

It isn’t illegal for companies to fire an employee for asking for a raise, but it would look terrible on the employer who does this.

In recent years, the Internet has become a great equalizer for employers against unfair work practices. If someone was fired for asking for a raise, the media and social media sites would have a field day. Bad press is something every company will avoid at all costs.

What’s In It for Your Boss?

You’ll be doing yourself a disservice if you only consider yourself.

Asking for a raise is self-serving. It’s probably warranted, but you’re asking for your own self-interests.

Why should your boss give you more money? What’s in it for them if they do so?

These questions aren’t meant to provoke aggression from your employer. Rather, they aim to get you to gather and present real evidence to your employer of how you help the company and bring value to the workplace and the bottom line.

What value do you bring to the table? And how have you done so in the past?

In the same way you’re asking for a raise for your self-interests, your boss cares about their own self-interests. Not yours.

Your employer doesn’t care about your mortgage payments or the vacation you want. They care about their self-interests–what’s in it for them.

Your plan of attack is two-fold:

Make a list of your accomplishments

Describe how your work has positively impacted your department and company–and provide specific numbers and statistics if possible.

For example: 

“In the past year, I generated 6,000 leads for the company, an increase of 12% from the prior year. The resulting sales equaled $83,000 in new business.”

People tend to lie, but numbers don’t, and it’s hard for anyone–including an employer–to argue with numbers.

The stronger the data you provide, the greater the case you make for a well-deserved raise.

Show a plan for the future

You want to explain your plan for the future.

Present your goals to your manager or employer. Show them how those objectives benefit the company and what your plan is to achieve them.

If you come in prepared with a plan to put more money in their pocket and can back it up, they’ll bite.

Practice The Sequence

Do not go in there unprepared.

Take the time needed to rehearse what you want to convey and what you’ll say.

When practicing, watch your language. I’m not referring to curse words (although you’ll want to avoid those, of course). I mean the words you choose to speak with. Confidence is your key.

Avoid sayings such as,

“I feel like…”

“I think…”

“Might..”

“May…”

Cut that out of your rehearsal.

Start by first thanking your employer or superior for their time and taking the meeting. Portray how excited you are to keep working toward company goals and growth.

Tell your boss what you did, not what you “think” you did, and what positive effects your work has, not what it “might have.”

Give them the specific examples with your data and figures on hand and ready to go.

Make sure to keep it professional and that your confidence doesn’t come off as arrogance.

Role-play with a friend or family member to help keep it in the realm of confidence.

Practice answering questions about the standard salary figures you’ve researched, the hours and dollars you’ve saved the company, and maybe even how you’ve helped improve productivity.

In a pinch, a friend can offer honest feedback on your tone, body language, and eye contact.

Make sure your conviction shows. If you don’t believe you deserve a raise, why should your boss?

Thank them for the opportunity, whether you get the raise then or not, and then be on your way.

Prepare For a Discussion

Even if you build a strong case for a pay raise, it doesn’t mean you’ll get a yes.

At least, not right away.

When was the last time you read over your job description? I’m guessing when you applied.

If it’s been a minute, go back and give it another look to ensure you’re fully fulfilling your role. If you’re not, you must fix that problem before asking for a raise. Your superior will shut you down if you’re not meeting the standards they hired you for.

If you have been fulfilling your duties, that’s great. Set a meeting.

Before the meeting, it’s important to have no expectations. You might get the raise on the day, but possibly not, usually because of unforeseen factors and not necessarily as a reflection of your work ethic. Stay detached and try not to take anything personally.

You should approach the meeting with the same seriousness as a job interview. Because, in a sense, it’s similar.

Once it’s time, enter the meeting calmly and detachedly, and most importantly, ready to talk about the projects you played a role in and how you’ve worked beyond your job description.

Be prepared to listen to any feedback you get, too. Many managers will see your active interest as a positive sign, which might translate to a future pay raise if they can’t provide one now.

Something else to prepare: If your boss or superior doesn’t have the authority to give you a raise and has to get approval from someone higher up, you can help by writing a letter asking for a raise with the key points about why you think you’ve earned it.

This action is something to do regardless: Put it in writing.

Provide them with a handout summarizing your request, comparable pay ranges, and the benefits the company derives from your efforts. This document might be optional but be prepared if they ask.

The BMM Takeaway

Following these steps will greatly increase your chances of getting a raise.

However, it may not happen when you want or need it. And you must prepare for that.

Maybe you took all the proper steps before you walked in to ask for a raise, but your boss still turns you down.

Don’t be afraid here. Be bold and ask what it would take to get a raise in the future.

If your superior isn’t ready to consider a raise, ask what specific actions would be needed to merit one and set a review date. If tight budgets are the issue, ask about a one-time bonus, either now or after some time.

Position yourself for a future raise by taking the initiative, discussing your long-term goals with your boss, expanding your skill set, and networking with others to raise your visibility in the company. The next time you have a performance review or a big win, you can ask again.

Always remember to be respectful and professional. And stay positive.

You may not get what you want, but if you know how to ask for a raise and are prepared, your request should at least be carefully considered.