How do I ask my boss for a raise?

Asking for a raise can be tricky.

Oftentimes, employees miss out on extra money because they lack the necessary skills and information to negotiate for a better deal.

Is this happening to you?

Discover 3 steps that will help you strategically ask for a raise at your job.

Research the market value of your role:

• Use sites like Salary.com, PayScale, and LinkedIn to compare your current salary with those of similar positions at other companies.

• Consider your industry, your company's size, and the benefits they offer (extended healthcare, etc.).

• Contact recruiters to review your resume and provide you with "a realistic salary goal for your position and experience" to negotiate.

Evaluate your contributions:

• Note your accomplishments over time (the past 6 months, the last year, and your entire time with the company).

• Describe the impact and benefits of your accomplishments on both your team and the company as a whole.

• Back up your achievements with specific numbers and data, if available.

By considering the current pay rates in your industry, as well as evaluating your own performance, you can set a realistic and fair salary expectation for your request.

By failing to prepare, you are preparing to fail.

— Benjamin Franklin, American politician and inventor

Choose appropriate timing:

• Consider the company's financial situation. If they're financially healthy and growing, it might be a good time to ask.

• Check when there is a convenient time to talk about a pay raise with your boss (for example, during one-to-one check-in meetings and annual employee reviews).

• Having recent achievements on the job will strengthen your case.

Plan out conversation points to cover:

• Show appreciation for working at the company.

• Discuss your plans to further contribute to the company's success in the future.

• Consider how your goals can align with your boss's interests or priorities.

Anticipate potential objections:

• Build a strong case regarding your performance to justify a raise

• Consider your employer's priorities

• Prepare responses and rehearse talking points for a potential "no" and "yes"

Your boss might not give you an answer right away. If you don't hear back after a week or two (or the time you both agreed to), check in with them.

Here is what you can do after the conversation:

• Send a follow-up email summarizing the discussion and any agreed-upon next steps.

• Keep doing good work and going above and beyond to prove that you deserve the salary you want and deserve.

• Clarify the new responsibilities that may come with the new raise.

If you think you're underpaid and would like to get what you're worth: