When Should You Ask For A Raise?
Many times, employees ask for raises at the wrong times which not only does not get them the increase in compensation that they want, but can also spawn a negative relationship with their employer moving forward.
Asking for a raise is all about timing and accuracy. Before doing so, ask yourself as to whether rye you asking at the right time and whether you are accurate in your assumption that you deserve higher pay?
For instance, if you request more money right after your boss gets in a fight with their boss and you just called in sick 3 days last week, then you are not right on the timing nor are you probably correct on whether you deserve that bonus (there are exceptions).
To help guide you, here are some times regarding when you should and should not request more money from an employer:
When You Should Ask For A Raise
1. You’ve been at the company for over 2 years without any monetary increase. If you’ve been with an employer for over 2 years, you deserve some sort of increase in pay (at least to match inflationary %’s) and you should ask because doing so, if for nothing else will be a good indication of where you stand with your employer.
2. You understand the expense structure of your employer. Until you understand and can gauge your profitability vs the expenses of your employer, you should not ask them to invest more money in you.
Business is about return on investment and it’s now how much revenue you may be making for the client, rather it’s how much profit you are taking in for the company.
3. When you have other job offers validating your worth. It’s very hard to decipher what we are exactly worth to our current employer. Often, we think we are valued at a lot more than we really are.
However, if other companies in the same (or similar) space are offering you your current salary + 20%, then you know what you’re worth.
When You Should Not Ask For A Raise?
1. When you’re emotionally charged. Storming into your boss’ office because you landed a big deal and you want some of the pay cut is a surefire way to kill any and all positivity from your big gain.
Never ask for raise because you’re nervous about money or you’re angry about something at work.
2. When you recently received a bonus or raise. You never want to look piggish and always want to look deserving when you approach a current employer about an increase in pay.
3. When a co-worker got a raise and you didn’t. If a co-worker received a raise and you did not, asking for an increase in pay because Bob or Sally got one will not only anger your employer, but it will piss your co-worker off as well.
If people are getting raises in the office, either you’re next or you need improvements in certain areas. Wait at least two months to approach an employer for a raise after you hear about your co-worker receiving the increase in pay.
In the End
The last thing you want to do when asking for a raise is to do so in a way that is going to put a bad taste in your employer’s mouth. Know when and where to ask and you’ll be well ahead of the game.
Ken Sundheim is the CEO of KAS Placement a sales and marketing recruiting firm specializing in recruiting business development, social media and marketing job seekers.