You’ll never receive if you don’t ask, but many people are afraid to take that step. Data shows that over 80% of employees feel they deserve a raise, but only about 60% actually ask for one.
In our newest blog series, Get What You Deserve, we provide outlined guides for tackling hard financial conversations, such as negotiating a starting salary and, now, asking for a pay increase.
It’s completely normal to feel uncomfortable asking an employer for a pay raise, but it doesn’t have to be that way. With LGC’s guide to asking for a raise, you can confidently approach the conversation and get the compensation you deserve.
Step 1: Do Your Research
One of the biggest mistakes you can make when asking for a salary increase is going in unprepared. Here’s how you get started:
- Benchmark your current salary: What is the average starting salary for your position? Where does your current salary fall in relation to that number?
- Evaluate your job description: Have your job responsibilities changed since you were first hired?
- Reflect on the time since your last pay increase: Have you taken on any special projects or contributed significantly to your company’s productivity?
After asking yourself these questions, you can begin to build your case for why you deserve a bump in pay. This is perhaps the most important part of the process. Think of it like a lawyer presenting a case in court. They don’t go in blind—they have a strategy, backed by facts, figures, and strong arguments.
Similarly, compile all your biggest projects, achievements, and any professional development training you’ve completed since your last pay increase. This information will be crucial in demonstrating your value to the company, making it more likely they’ll approve your request. Once you have a detailed list of tangible evidence, you can determine how much you want to ask for.
Step 2: Determine Your Pay Increase
The average raise in 2024 is around 4.5%, but ultimately, it’s up to you to decide how much you think you deserve. It’s important to be reasonable and use resources like Salary.com, Glassdoor, Robert Half’s Salary Guide, and LinkedIn to guide your decision-making.
If this is your first time asking for a pay increase since being hired, reflect on the responsibilities you initially agreed to. If your duties haven’t changed much, aim for around a 3-5% increase. If your responsibilities have grown significantly—such as taking on more projects, traveling more, or making notable contributions to productivity—then you can aim higher.
One thing to keep in mind is the size and location of your company. If you work for a small private company in a rural area, you likely won’t earn as much as someone in the same position at a large corporate company in New York City. Be mindful of your points of comparisons and put into perspective what is logical for your situation.
Once you’ve gathered all your materials you’re almost there, but you’re still not quite finished with the preparation process.
Step 3: Prepare for the Conversation
Now that you’ve compiled your case, it’s time to prepare for the conversation itself. Here are a few tips:
- Practice your talking points: It might feel awkward, but rehearsing what you’re going to say—whether in front of a mirror or with a friend—will help you anticipate questions and respond to any counterpoints.
- Determine the best time for the conversation: Many companies have set times for performance reviews, which is a great opportunity to ask for a raise. If your company doesn’t conduct yearly reviews, you may need to request a separate meeting to discuss your performance and pay.
- Be prepared for any outcome: There’s no guarantee your boss will say yes. There are many reasons beyond your control why a company may say no, so be ready to hear it and know how you’ll respond.
Step 4: Approach the Conversation
When you sit down with your boss, it can feel intimidating, but here’s how to approach it:
- Start positively: Begin by expressing how much you enjoy your job and highlighting the aspects you’re passionate about.
- Be confident, not arrogant: Present your case assertively but avoid sounding overconfident.
- Don’t downplay your accomplishments: If you don’t believe you deserve a raise, your boss won’t either.
Step 5: Respond to the Conversation
It’s important to be prepared for both outcomes:
- If it’s a yes: Be polite and express your gratitude. Make sure to get the details of your raise in writing.
- If it’s a no: Stay professional. Ask for feedback and specific steps you can take to earn a raise in the future.
- If you don’t get what you want: Take the time to reflect on your long-term career goals. If you consistently feel undervalued, it might be worth considering your future with the company.
Step 6: Celebrate Your Success
Congratulations! Asking for a raise doesn’t have to be stressful. With the right preparation and confidence, you can handle the conversation professionally and secure the raise you deserve. Now, go get what you’ve earned!
In other news…
Stay connected with us by following our social media! You can also download our app, StaffNow today!
About LGC
Since 2003 LGC has been building connections between businesses with staffing needs and job seekers looking for new opportunities. Our range of solutions includes temporary and permanent placements (and everything in between) for a variety of industries. With offices located nationwide, we can tap into a dynamic pool of talented professionals. We have a passion for creating partnerships that last and work hard every day to ensure both clients and candidates reach their employment goals.