When is the best time to ask for a raise?
By: Kamara Daughtry, 6-Figure Career Strategist
The question of whether individuals should be paid more for their jobs is gaining traction on social media. It’s increasingly evident that people, particularly those juggling two or even three roles, deserve fair compensation. However, if you find yourself currently employed and feeling overworked, here are a few things to consider before approaching the topic of a raise.
Number One: Timing
I recently went live on LinkedIn, emphasizing the crucial factor of timing when it comes to seeking a raise. If you’re aware that certain departments are currently undergoing budget cuts, that might not be the most opportune moment. But things get even better when your department has recently experienced a wave of success, and you played a key role in making that triumph happen.
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Moreover, if you’ve shouldered extra responsibilities beyond your job description in the last 6-12 months, it’s a legitimate reason to bring up the topic of a raise. Nevertheless, the actual increase will hinge on your progress and key performance metrics. According to Indeed, it’s deemed appropriate to broach the subject of a raise within a one-year timeframe.
Other hiring managers inside this Facebook Group also gave these suggestions:
Number Two: Achievements and Contributions
If you’re a total rockstar at your job and your supervisors, peers and other people in departments have recognized you it qualifies you for a raise.
For instance, consider a scenario where a Product Manager identified a market gap and proposed and implemented innovative features for an existing product. These additions not only improved the product’s functionality but also led to a significant increase in user engagement. Consequently, the company witnessed a noteworthy surge in revenue generated by the product. The Product Manager’s strategic acumen, keen market awareness, and effective execution of product enhancements played a direct role in the company’s financial achievements. Recognizing these accomplishments, a salary raise would not only acknowledge the Manager’s substantial impact on the company’s financial performance but also serve as an incentive for continued commitment to driving success in product development.
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Number Three: Market Research
When coaching clients in their job search, I find it crucial to consider the average salaries for roles like Cloud Engineer or IT Help Desk Specialist. This information holds significance as it varies from city to city.
For instance:
- An IT Help Desk Specialist in Atlanta may have an average salary of $43,000.
- Conversely, an IT Help Desk Specialist in Los Angeles could command a higher average salary of $57,000, attributed to the differences in the cost of living between the two cities. Understanding these salary variations is essential for individuals navigating the job market, allowing them to make informed decisions based on regional differences in compensation.
Number Four: Consistent High Performance
We’re living in a “What have you done for me lately?” world. Consistency is the name of the game. If you’re consistently crushing goals, helping your managers make smart decisions, and bringing in a hefty ROI with every project, it’s time to ask for that raise. Imagine this: You hire a Project Manager who not only meets but consistently exceeds goals and benchmarks. This PM isn’t just a task manager; they’re a decision-making powerhouse, contributing to the success of every project and bringing in substantial returns.
In a scenario like this, it’s not just about what they’ve done lately; it’s about the ongoing value they consistently deliver. That’s the kind of performance that deserves a raise.
Number 5: Professional Development
Now, if you’re following me on TikTok, you might have caught my take on the recent layoffs—Google axing hundreds of employees and Citigroup poised to let go of 20,000. In this fast-paced generation, skill upgrades are the name of the game. Every 3-5 months, consider diving into a new skill, whether it’s in IT, Cybersecurity, or UX/UI design. The idea here is to stay nimble. If a company decides to cut roles, you want to be in a position where you can pivot—apply for a new gig with a competitor or switch to another department seamlessly.
And when you’re gearing up to ask for that raise, let the company know you’ve been proactive. Mention that you’ve been investing in yourself by taking professional courses and sharpening your skills. It’s not just about what you’ve done; it’s about the continuous effort to stay on top of your game.
Last Piece of Advice
- Consider all of these factors
- Prepare for the meeting, by creating a Google Document or Mini-Powerpoint (4-6 slides, metrics, snapshots and etc.)
- Schedule a Meeting with Your Boss
- Go-In with a Professional and Calm Demeanor
- Be willing to compromise on Salary Range
- Use the words “we”, “as a company”, and your willingness to stay there and grow with the team
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