Asking for a Raise in 2023: How & When Can You Ask for a Raise at Work

by Hiration

Contemplating asking for a raise at work?

Yes, in an ideal workplace scenario, your boss may recognize all your efforts and potential, while offering you a raise, without you having to bring up the conversation.

However, this scenario may not really come to fruition for most of us.

You need to take charge and send in your request ideally in a form of written communication like an email or a letter, asking for a raise.

And although you know it in your heart that you deserve the raise after taking on added responsibilities and delivering an outstanding performance at work, drafting a letter/email asking for a raise can be quite confusing.

How should you even begin your letter? What must you include?

Questions like this can be daunting and you might even be tempted to put off your plans to ask for a raise.

But before you start procrastinating and end up dismissing your plans altogether, read this blog.

It will give a clear idea on:

Best Way to Ask for a Raise and Actually Get It

In case you don’t want to verbally bring up the conversation about a raise with your boss or if you are worried that you might miss out on points while explaining your case, drafting an email or a letter may be the best way of asking for a raise.

List Out Your Achievements

Before you get started with writing an email or a letter asking for a raise, make a list of all your achievements that you have accomplished since your last raise.

Doing so will help you ensure that you don’t miss out on small details and you have a clear understanding of what you must highlight in your email or the letter.

Do Your Research

To build a solid case that your boss or manager can’t simply deny, you need to do plenty of research around your role and the competitive salary for your position.

Your expected raise must align with the job market’s trends and practices. This way, you will also have a clear idea about the percentage of raise you can expect realistically.

Take factors like your experience level, education, skills, and location under consideration to do your research accordingly.

Draft the Letter/Email

Once you’re done with your research and have compiled your achievements, draft an email or a letter asking for a raise.

Make it concise and crisp, with bullet points and significant figures that show how exactly you’ve made so and so contributions towards the growth of the company.

Don’t focus on why you need the raise. Instead, make the letter about how you deserve it.

Towards the end of the letter, express your wish to discuss the salary increment in a meeting and end the letter thanking your boss/manager for considering your request.

Talk in Numbers and Share Examples

Including figures when talking about your achievements and contributions can create more impact.

Talk about the percentage or the exact figure that you saved or brought in for the company.

Share plenty of instances when you efficiently met and exceeded the expectations of your workplace seniors.

Did you bag a deal with a valuable client? Did you go the extra mile to increase the company’s revenue? Did you receive excellent feedback from customers?

If you did, be sure to highlight all that.

Share Your Vision for the Company

Talk about how you’d like to take on new responsibilities and how you can execute the duties with competence to aid the growth of the company.

Express your interest in working for the company for a long period and show your loyalty.

Maybe you can also pitch in a few ideas that you have in mind as you plan to help the company grow and develop in all aspects.

Practice Your Pitch and Prepare for a “NO”

If your boss or manager agrees to discuss your raise over a meeting, practice your pitch and prepare yourself for some counter questions that they may ask you.

Be confident about your worth and deliver the idea professionally.

However, there are chances that even after picking the perfect time and doing everything right from your side, you may hear a “no” from your boss.

In such instances, don’t be discouraged or annoyed.

Handle the situation smartly and instead, maybe you can ask for non-monetary incentives like increased vacation time or flexible working hours.

Source: Capterra

When Should You Ask for a Raise?

Like most things in life, timing is everything when it comes to asking for a raise at work.

You cannot just randomly walk into your manager’s office and demand a raise. Unless you want things to go sour and face disappointment.

The first step is learning about the correct timing.

Follow the Review Schedule

Most companies have a review schedule that either happens half-yearly or annually.

If you are not sure about the review schedule, consider enquiring about it with the human resource department of your company.

If your company has reviews twice a year, it’s best to bring up the conversation about your raise around the time when your company prepares its financial planning and budgeting.

Consider Your Previous Raise

If it hasn’t been more than 6 to 8 months since the last time you got a raise at work, consider waiting at least a year before asking for a raise again.

That is, if there has been no substantial change in your role and responsibilities.

You can always maintain a track record of all the things that you believe will aid your case for a compensation raise whilst you wait for your company’s review schedule or until there is a significant increase in your workload.

Post Closing a Big Deal

Asking for a raise after you bag a huge deal for your company may be a good time to bring up the conversation about your raise.

When you’ve just freshly achieved a milestone for your company, your manager or the executives may already be willing to offer you a raise without you having to explain your worth.

However, as stated earlier, do consider the review schedule of your company if they have one in place. Just ensure to make a note of all your accomplishments until then.

Understand the Company’s Financial Situation

If your company is in the midst of tackling financial issues, you should probably wait on asking for a raise.

The probability of your manager or your boss saying yes to a raise request is mostly slim during such times when the company is already dealing with certain financial issues.

Talk to your peers and colleagues to probe how your company is doing financially.

Sample Letter Asking for a Raise

Here’s a sample letter asking for a raise that you can use as a reference to draft your own:

Dear Mr./Mrs. XYZ

During the past year working as a team leader in the sales department, I have thoroughly enjoyed my work and have come up with creative ways to meet and exceed customer expectations whilst taking on additional duties that come my way.

For instance,

  • I accomplished the highest average revenue of USD 40,000 consecutively for 3 months
  • Generated sales of USD 10,000 and received excellent customer feedback
  • Conducted on-the-job training for 20+ recruits to streamline the onboarding process

I believe that I have surpassed the benchmarks set for my position during this short span of time.

Therefore, I would appreciate the opportunity to discuss my salary raise in a meeting. I request to get a salary increment of 5%, which I believe substantiates my current performance and the current industry standards.

Thank you for your consideration.

Sincerely,

XYZ

Key Takeaways

  • Before you get started with writing an email or a letter asking for a raise, make a list of all the achievements that you have accomplished since your last raise
  • Research your role so that your expected raise is realistic and aligns with the current job market’s trends and practices
  • Don’t focus on why you need the raise. Instead, make the letter about how you deserve the raise
  • Include numbers and percentages when talking about your accomplishments
  • While writing a letter asking for a raise, express your interest in working for the company for a long period of time and show your loyalty
  • Do not be discouraged or angry if your boss or manager says no to your salary raise
  • Choose a good time to ask for a raise and consider the company’s review schedule, financial health, and your last salary raise
  • Asking for a raise after you bag a huge deal for your company may be a good time to bring up the conversation about your raise
  • Make a record of all your work and achievements if your company has a fixed schedule for performance reviews

If you have any more questions, feel free to direct them to team@hiration.com.