Ways to Ask for a Raise During Your Annual Review
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It's no secret that workers often find themselves underpaid, but studies show they’re also often hesitant to bring it up with their employers. Yet, 65% of employees who asked for a raise got some form of a salary increase, according to a survey by career website PayScale.
Knowing how to ask for a raise is a skill — and it’s one you can learn. Here, we look at strategies for asking for a raise in a way that leaves you feeling empowered. From researching the market rate for your position to asking for a salary range rather than a single number, we’ll go through each step of the process so you can make sure you’re well-supported when you talk to your boss. You’ve put in the time and effort, now it’s time to make sure you’re getting justly rewarded. Let’s get started.
In this article
Give your employer reasons to give you a raise
When you’re asking for a raise, you have to be able to give your employer concrete reasons why you deserve one. It’s not enough simply to say that you’ve been with the company for a certain amount of time and expect a raise; you have to explain how hard you’ve been working and what value you bring to your organization.
Having statistics or figures that show how much money, effort, or time you've invested in improving performance is a great way to make your case. You can point out the best-case scenarios or improvements within the company, such as an increase in efficiency or revenue. Showing tangible results will make it easier for your boss to decide whether or not now is the time to invest in raising your salary.
Sometimes, there may be no more funds available to give raises; however, providing evidence of your dedication and hard work remains valid and should be considered by any employer regardless of financial prowess. It’s also important when striving for pay equality among all employees regardless of gender, race, or job title. Discussing comparable wages in industries related to yours may also give you a leg up during negotiations.
Reinforcing these points provides employers with valuable insight into how beneficial it would be financially and in bolstering employee morale to give the requested raise. Demonstrating clear improvement and pointing out advantages gained through matching salaries across the board are valid reasons you might consider getting a pay increase.
By giving your employer real reasons why they should award you with a raise, you can demonstrate your worth and commitment more effectively than simply saying that you deserve one due to longevity alone.
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- $1,000 minimum to open
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Demonstrate your hard work
Demonstrating your hard work is one of the best ways to show your employer that you are invaluable and worthy of a raise. Hard work alone isn’t enough, though — you need to prove that you’ve put extra effort into your role and responsibilities. This means documenting the results of your hard work, such as successful projects or accomplishments you achieved during your employment.
Employers like seeing employees go above and beyond expectations, especially when considering a raise. But should there be an expectation placed on employees always to go above and beyond? Some might argue that being hardworking should already be a regular expectation, while others may say that this dedication level is unrealistic because of personal or financial restrictions.
Despite differing opinions, employers will likely recognize hard-working employees who take the initiative and consistently complete tasks with high-quality results. When asking for a raise, it is important to emphasize what additional tasks you took on, even if management didn't explicitly tell you. If you have been working hard but haven't seen any recognition, now is the perfect time to present these accomplishments and ensure they don't go unnoticed.
Highlight your accomplishments
Go into the conversation confidently, with evidence of your value to the company, and present that evidence effectively. Doing this will help show why you deserve a higher salary and demonstrate that your current pay does not reflect your worth.
It’s important to provide an overview, but detailing some of your successes should also be included. Make sure it’s relevant to your current job and focus on facts and figures, as this has more impact than simply citing examples of praise or verbal acknowledgments you may have received from others.
Another way to prove your worth is by pointing out how you contribute to the overall success of the team and organization. Explain how processes were improved or tasks were completed faster due to your efforts. If possible, provide tangible data to illustrate how much you have contributed — this could be in terms of saved resources, increased profits, or even better customer satisfaction results.
Some employers may view this tactic as bragging, so ensure it’s done without being conceited. There is a difference between bragging with arrogance and presenting factual information unpretentiously. Showing that you value what you bring to the table without appearing too boastful will demonstrate genuine humility — all while showing that you are confident in your ability and value your contribution to their organization.
The combination of highlighting your achievements, showing that you have added real value to the company, and presenting it all in a humble yet confident manner can be very powerful when asking for a raise and is worth considering if a negotiation gets stuck at an impasse. With that said, doing one’s own market research before negotiating can also be beneficial.
Do your own market research
Conducting research in your field of work can provide helpful information on the value of your skills and abilities. Because this information can be difficult to find, you must take the initiative by researching online or even reaching out to industry peers to gather knowledge on salary averages.
Although it may seem intuitive to research salary data, there can be drawbacks. For example, if you present higher salary data than what your employer pays you, they may assume that you are unhappy with your current position and intend to leave soon. This can lead to an uncomfortable workplace situation and potential termination. Therefore, it is important to consider company loyalty as part of the evaluation criteria for researching salary figures.
When used strategically and professionally, doing your own market research provides key evidence for what can realistically be achieved when negotiating a raise. Combined with other strategies, such as documenting successes or referencing external industry rates, your research enables you to request the pay level you deserve intelligently.
Before making any negotiations or requests, it's important to adequately prepare and equip yourself with evidence-based knowledge so that discussions lack guesswork. By learning how to research the salary of other market competitors (the following section), you will become empowered to effectively determine a reasonable rate and make an informed request for a raise.
Research the salary of other market competitors
While it may seem intimidating at first, it can be quite helpful to draw comparisons and ensure you’re fairly compensated. Knowing current market rates in your region or industry will ensure you ask for a reasonable increase according to industry norms.
The downside of researching market competitor salaries is that other companies may not have the same salary range and compensation structures as yours, making any comparison invalid. It is also possible that the company you are researching could offer higher pay than you due to their financial capabilities and requirement to attract more experienced employees.
In addition, it’s difficult to know when the salaries were provided and if they are still current. Some salaries may be higher because those positions come with larger responsibilities or different skill sets, even though they have a similar title so the data must be taken with a grain of salt.
Overall, it’s wise to do research on the salaries of market competitors before asking for a raise, but it should not be the only way a decision is made about what salary increase you ask for — your own accomplishments and experience, together with employee evaluations should be taken into consideration as well. After gathering this invaluable information, you’ll be better prepared to go into your raise negotiation with confidence.
Prepare for a raise negotiation
Knowing what to expect during a raise negotiation can help you feel more confident and prepared for the conversation with your employer.
After researching salary averages for similar roles and gathering evidence of great work or accomplishments from the past year, you'll need to stand your ground and keep the negotiation focused on what’s best for the company.
Practice positive self-talk leading up to the meeting. Remind yourself of your main points and why they matter; replacing negative self-talk with positive affirmations can boost your confidence in messaging your value proposition. Visualizing how you want it to go can also help keep nerves at bay and helps ensure that both you and the other party get what they want from the negotiation process.
And, don’t be afraid to speak up for yourself — but avoid being confrontational as much as possible when presenting your case for a raise. Instead, focus on respectfully sharing facts about what makes you an invaluable asset to the company and present yourself as someone ready to continue excelling in your role, given increased pay and rewards.
Once all these steps have been taken care of, you'll feel more confident going into negotiations knowing exactly why — and how — you deserve the raise.
- 3.50% APY
- $1,000 minimum to open
- No account opening or maintenance fees
The moment of truth, asking for a raise
Now you’re facing the big moment. You must capitalize on all your hard work and make a strong case for why you deserve more money. You may feel anxious or scared, but don’t forget that you have taken the time to prepare properly for this conversation. In addition to backing up your request by citing facts, facts, and data about your performance, other strategies help you present it effectively.
First, be sure to approach your employer with the right attitude. Express enthusiasm and passion while speaking and exuding confidence. Maintain eye contact and remember your body language speaks volumes. Speak in an upbeat and positive tone during the entire conversation. Show respect towards your management team while being assertive in getting them to understand your value.
It’s also important to think carefully through what you will say and how you will say it. Use positive language such as “I'm confident I can make even more substantial contributions" rather than negative language such as “I have been underpaid for some time now.” The goal should be to ask for what would be equitable for both parties rather than imposing a demand or ultimatum on the employer.
If a raise isn't possible or the employer doesn't give you an immediate answer, remain persistent yet polite by asking when they can expect to get back to you with a decision or what potential solutions exist for increased compensation. This shows perseverance which is respected in any workplace environment.
Remember that no matter how disappointed or discouraged you may feel, it’s important not to take it personally and remain professional throughout the process. After some contemplation, if speaking with management again is necessary due to their indecision, wait until emotions have settled before discussing with them if need be.
After asking for a raise
The bridge has been crossed, and you’ve asked for a raise. Now comes the hard part — figuring out how to manage the situation until you get an answer.
First and foremost, be sure to thank your employer. Maintaining good manners, then expect them to think it over and make a serious decision about what comes next. Your employer knows it's a big ask and that they need to carefully consider it before responding.
Resist the urge to talk about it for the remainder of the day or ask other colleagues their opinion. Respectful privacy throughout this process is key — walking away from it when necessary will show professional maturity and give your employer some time if they need it to consider your request.
Now you have to decide how long you will wait before following up. Some employers might respond right away and explain their thought process behind why they said yes or no (or may even negotiate with you). Others may take days or weeks before getting back, so remember to remain patient during this sensitive area of negotiation. Be sure to document any conversations over email in case of future discrepancies on what was agreed upon or discussed.
FAQs
What should I do if my employer denies my request for a raise?
If your employer denies your request for a raise, the best approach is to be understanding but persistent. Determine why they said no, and explain how you can improve your value to the company. First, ask if there’s any way you can earn a raise in the future. If not, suggest other creative ways your employer can show appreciation– such as more flexible work hours or additional vacation time. Remain professional and polite throughout the discussion, and keep documented evidence of your hard work, accomplishments, and successes for use in future discussions about salary increases. Additionally, don’t be afraid to take your skills to other opportunities — use those company paychecks as leverage when speaking to your employer. Finally, it doesn't hurt to ask for feedback throughout the process and use that as an opportunity to learn how you could improve as an employee.
How can I make sure my request for a raise is taken seriously?
The most important thing is to be prepared. Have a professional and well-researched presentation ready to present when you make your request. Make sure you are confident in your knowledge of the market and your value to the company, as well as how much your services are worth. Come with a good understanding of what a salary increase would mean to you regarding other costs, such as taxes and insurance, so that you know exactly how much money you need to help support yourself. Be ready with tangible evidence, such as performance reviews, client testimonials, and recent accomplishments demonstrating your commitment and contributions to the organization. Lastly, practice delivering your presentation before the meeting to ensure that you project confidence to ensure that your request is taken seriously.
- 3.50% APY
- $1,000 minimum to open
- No account opening or maintenance fees
The bottom line
When asking for a raise, it's important to be prepared with evidence of your accomplishments and examples demonstrating your value. Have an idea of what salary you’d like to achieve, and devise a plan to present your case respectfully yet confidently.
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