The Financial Confidence Coach

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How to ask for a raise

The FIRST thing you need to do before you ask for a raise is… don't doubt that you deserve it!

I’m serious. When you genuinely believe your time and worth deserve a little extra financial love, you better believe you will get it.

No, I’m not talking about the manifestation thing here (even though I love everything to do with manifestation). I’m talking about having the confidence in knowing why you deserve a pay increase and walking it to a meeting and showing it.

SECOND: Understand that it is normal after a certain period of time to ask for a raise. YOUR BOSS IS WAITING FOR IT! They have been watching and preparing for you to make the next move. So don’t be afraid of throwing anyone off balance by asking – they know it’s coming.

THIRD: Do your research. It’s actually a bit ridiculous how most of us walk into a job situation and possibly stay in one without knowing how much our co-workers in a similar situation earn. Be genuine and seek advice. Explain it’s not to wreak havoc or make anyone uncomfortable, it’s just about you being aware and making sure you are being justly compensated.

FOURTH: Consider when it may be the right time to approach your employer. Don’t just walk into their office demanding time to talk. Don’t stop them when they are walking out the door to get home to their families or during a lunch break. Determine if it’s a busy time for your employer. Maybe they have a tight deadline and are stressed about a meeting or a big event. Consider this and make sure they are in the right mental space to be able to give you their full attention. Always ask for a meeting time that works with your employer's schedule. Pay attention to what time of the year other employees may have received raises. Every company has a budget cycle. If you have worked at the same place long enough, you should be able to determine when may be the most appropriate time to approach your employer.

FIFTH: Put together specifics. It’s not good enough to walk into your meeting and just say you think you are doing a great job and deserve a raise. Why? What have you done to make the company better? Pull exact numbers together. Next, be very specific with what type of increase you are looking for. Does the negotiated increase involve a percentage, an hourly increase, or a perk or bonus?

SIXTH: What’s in it for your boss? Sometimes it can be as simple as the positive energy you bring to the environment! Consider what you will do to make their lives easier. Come up with a GREAT answer and you got yourself a BIG YES to your request. Again, be really specific. 

SEVENTH: If you received a “no, not this time” - be ready with your reaction and what you will say next! Be respectful and kind and ask questions such as: “What do I need to do to make this happen and for how long?” Set yourself up for success. Discuss timelines and be sure to end the meeting with a grateful attitude. You’ll get it the next time!

 

If you are doing a great job and contributing to your company’s success and genuinely feel you deserve a little bit more than you make now. Believe it, schedule a chat, and go make it happen.


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