Making Ends Meet: Tips on how to ask for a raise

Soaring inflation costs have left many unsatisfied with their salaries.

While requesting more money from your employer can be uncomfortable, it doesn’t have to be.

Here is what you should and shouldn’t do when asking for a raise.

About 70% of employees who ask for a raise receive one. And 39% get the amount they ask for, according to software company Payscale.

Career Coach Donna Thrash says timing is everything.

“You want to ask for a raise after a win. So, if, let’s say you just had a stellar job performance review, that would be a great time,” said Thrash, a career coach.

But before you walk in asking for more money, do some homework. 

Research the amount you are asking for. 

Resources like Glassdoor or Payscale can help you find your market rate. The average pay raise is 3%.

But experts say a good raise ranges from 4.5 to 5%.

“The most important thing to consider when asking for a raise is it really has to be about you. So, it has to be about what you are bringing to the table,” Thrash said. 

Write down your accomplishments and how your scope of your work has changed or increased.

But don’t compare your salary to that of others in your company. 

And finally, ask for your raise in private and in person if you can.

If your answer is no, ask your boss what it will take to get a raise in the future. If you do those things and keep getting a no, it may be time to look for another job.