Asking for a raise isn’t something to be performed on a whim – without careful preparation, your request may be immediately dismissed without much thought from your boss. Advocate for yourself in the best way possible by getting the timing right. Consider the following factors when deciding if it’s the right time to ask for a raise:

    • The Company Has the Revenue

Think about how well the company’s financials are performing to determine if it’s a good time to ask for more money. If business hasn’t been steady or staffing levels are down, the budget may be too tight for a raise, and could seem like an inappropriate request.

    • You Have Objective Performance Metrics to Show

The decision of whether to give you a raise will be made a lot easier if you can show your boss that you’ve made a positive impact on the company’s bottom line. Before asking for a raise, ensure you have objective performance metrics (i.e., percentages like “increased X by Y%”) that demonstrates you are a worthwhile investment.

    • It’s Been a While Since You Last Received a Pay Increase

Some companies are limited as to how often they can dole out increases, so consider how long it’s been since you last received a raise. If it’s been more than a year, the timing should be fine to go ahead and ask.

    • The Current Atmosphere Isn’t Stressful

Timing is key to successfully asking and receiving a raise, so observe the current atmosphere in your workplace first. If it’s a hectic time and everyone is stressed or during a big project, wait it out until things have calmed down a bit so your boss is more likely to give it serious thought.

    • Market Value Research Shows You’re Underpaid

You should be paid what you are worth in the marketplace. Do some research, such as online salary calculators, to see what the average pay range is for your position, industry, years of experience, company size, and geographical location. If market value research shows you’re unpaid, you can certainly ask for a raise.

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