Everyone wants to feel like they are being compensated fairly for the work they do and the value they add to their business. When it comes to asking for a raise, the success you may have greatly depends on timing. Here are some questions to ask yourself to help know when to ask for a raise.
WHEN WAS THE LAST TIME YOU RECIEVED A RAISE?
Generally speaking, you shouldn’t expect more than one raise during a 12-month period. If your last raise happened within that period, maybe hold off for a little bit.
HAS YOUR WORKLOAD/RESPONSIBILITIES INCREASED?
Remember when you first applied for your job and reading through the list of responsibilities? Maybe that list has expanded since you started your position. Show tangible examples of how much your value has increased and how your performance has been a benefit to your company.
WHAT ARE SIMILAR POSITIONS MAKING?
Do some research and find out what similar positions in your area are making. Any raise should be in relation to these salaries. The more information and evidence you have to back-up your request, the stronger it will be.
IS THE TIMING RIGHT?
If your company is going through financial troubles or you know it’s been a down year, it may not be the best time to ask. Part of being a good employee is being a team player. So if that means you need to wait until the company is back on their feet, and you do not want to find a new job, that’s what you’ll have to do.