There are some moments in your career where a raise isn’t simply justified, but it’s also expected. When it comes to your professional development, you need to know when to ask for a raise just as much as you need know how to ask. Here are eight times when it makes sense to approach your boss.
Your Employer Posted Strong Quarterly Earnings
When profits are up, managers often have more money at their disposal to reward their employees, especially their top performers
- In contrast, if your company has recently laid off employees to cut operating costs, it’s probably best to hold off on asking for a raise until things begin to improve
Know When to Walk Away
Just because you know how and when to ask for a raise doesn’t mean you’
You Aced a Performance Review
A clear sign of when to ask for a raise is after a positive employee review
You Received a Job Offer from Another Company
An offer letter from another company can give you leverage
You Made a Significant Achievement
One of the best ways to gauge when to ask for a raise is to look at your recent wins.
You Just Hit the One-Year Mark
Your one-year mark is a notable milestone, particularly if you’re sitting down for your first annual review at your company.
You Find Out You’re Being Underpaid
Know what other workers in your position are earning
- Use Monster’s Salary Tools
- Talk to recruiters and check out the U.S. Department of Labor’s Occupational Outlook Handbook
- Your geographical location and experience level can influence your salary potential
You Took On More Job Responsibilities
You’ve established a track record of delivering great work, your boss may decide to assign you more responsibility.
- Taking on more work can be a good thing if you’re looking for a raise, but you need to advocate yourself.
