3 tips on how to ask for a raise

Justin O'Reilly

Looking for a raise? You’re going to want to check this out!

Video Transcript

- So you might be asking for a raise wrong, or you're actually just scared to ask for a raise, which is OK and totally fair. That's what I'm here for. I'm here to help you because you deserve a raise. Hey, my name is Em, and I'm an established career coach. And I'm actually here to help you with this three-step formula that will increase your chances of getting the raise as well as absolutely crushing it.

Before we get into it, let's talk about why you're scared of asking for a raise and why it's important you should ask for one anyway. We're not going to let fear get in the way because I know salary is a sensitive topic to tackle all by yourself.

First, why are you afraid to ask for a raise? This could be your first time asking for a raise, so you could be scared of the unknown, the unpredictability, or just even where to start. I'm going to give it to you straight. The worst-case scenario is they say no, and that's very unlikely if you implement these three things.

Another reason why you could be scared is you've asked for a raise in the past but we're unsuccessful and didn't get any good feedback as to how you can improve. First of all, amazing and good for you for advocating for yourself because no one else is going to, so be proud of yourself.

Now, why is it important that you should ask for a raise anyway, even though you're scared? Number one, you are your only advocate, so you need to be your biggest advocate. Number two is that your work adds value, and that value should be returned to you and be reciprocated, whether you exceeded expectations or took on new responsibilities this year. And three, I'm just going to say it, your manager is expecting you to ask for a raise. You should not expect your manager to offer one.

Now let's get into it. So number one, you're going to write down why you deserve a raise. Notice that I did not say want a raise. There's a reason for this. You do deserve the raise. You just need to break it down into the why and why it's going to benefit your manager in the long term. The best way to break down your accomplishments is by time because that way, your manager will be able to see your growth, whether it was in the last year, in the last six months, or in the last 30 days.

Tip number two, know how much money to ask for. The first thing you're going to do is do some research on your competitive salary right now because it's likely you haven't done the research since you applied for the role. Based on this, use your research, as well as your current salary, to come up with a good baseline, as well as understanding what the average percent of a raise would be.

A good baseline in the average pay raise is around 3%. However, a good pay raise range is between 4% and 5%. If you believe you were exceptional this past year, you have a good argument to ask for that. Remember, the higher you ask for, the better reasons and better proposal you should have. Here's an example based on my accomplishments and the impact that I've had on the company, and more specifically, the team outcomes this past year, I would like to discuss a 5% raise for this next fiscal year.

Number three, put it in writing. It's very important that you have a written proposal in front of you that you could speak to once you get to the point of asking for the raise, as well as an approach for your manager on whether you're going to walk them through it or just send it to them after.

Think about it. Not all managers are the same, and they all have their own communication style, so you need to keep that in mind. Do they like having an agenda prepared for all their one-on-ones? Do they want you to walk them through the document, send it to them before, or even after the meeting?

And don't forget to go into that meeting with a plan on how to end it. Your manager is probably not going to make the decision right there and then, so you need to ask, hey, when would be a great time to follow up on this proposal and give you enough time to review it so that we can chat more on it?

OK, now that you've actually asked for the raise, here's how to proceed once you've received an answer, whether it's yes or no. If they said no, do not worry. I'd like to think that it's never a no, it's just to not yet. It just means that they need more from you or need specific things. So you need to make sure that you ask your manager for the right feedback. What are three or four things that you could work on specifically to get that specific number or percentage that you're looking for?

And if they said yes, I would be doing a happy dance if I were you and just be celebrating and getting myself an iced coffee. But don't get too excited yet because you should still go back, take all the discussion points that you had with your manager on the raise, and make sure that you follow through with them so that they feel great about it. And that way, you'll likely get another raise in the future.

That's it. I hope this video helps you ask for your raise, as well as give you the confidence you need to believe you deserve a raise. Good luck. I'm going to go get an iced coffee.