When It’s The Right Time To Ask For A Raise? | Refresh Financial

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How To Know When It’s The Right Time To Ask For A Raise

Asking for a raise is a delicate thing. You ask too soon, or for too much and you might send the wrong message. If you ask for too little or wait too long, you could be cheating yourself out of money. So, how do we know when the right time to ask for a raise is?

The short answer, and the answer you don’t want, is that we don’t really know when the perfect time is. Every boss is different and every company has different rules. There is no one way to sort out the perfect time to ask for a raise that can apply across the board.

What we do know, though, is that there are certain conditions that create an atmosphere in which you are more likely to get a raise if you ask for one. These are those conditions:

1. You’ve just received an award

Or accolades or recognition of some kind for the quality of work you do. It’s obvious that your company is pleased with your work ethic and your results. If you ask for a raise at this point, it’s going to be very difficult for them to say no and they would have to grasp fairly desperately at straws for reasons why not to.

2. Your company is doing really well, financially

A profitable firm is more likely to reward those who have aided in its success. Good finances also help to create a positive atmosphere in which everyone is more likely to say yes.

3. Your boss is happy

If your leader is happy with the level of work going on in your department, they're going to be much more likely to reward their staff with a raise should you ask for one.

4. A colleague has gotten a raise

If other people in your office are getting raises, chances are it’s a good time for you to get one, too.

5. You’ve had offers from other companies

This is a huge motivator when it comes to giving raises. Most companies don’t want to lose their best talent, and if other companies are keeping their eyes on you, chances are you’re the sort of talent worth keeping. Asking for a raise now using your other offers as leverage could be a guaranteed raise.

6. You haven’t had a raise in a long time

If you’ve worked hard and gotten good feedback and been at your job for a year or longer without a raise, you’re probably going to find getting a raise a bit easier.

If any or a combination of these circumstances exist in your job, you could be due for that raise you’ve been thinking about. So, just do it: take the plunge and ask your boss. You have nothing to lose!

Have you ever asked for a raise? How did it go? Let us know in the comments!

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