How to Determine the Right Time to Ask for a Raise

If you’re hoping to talk your boss into giving you a raise, be advised that there’s not only a proper way to ask for it, but there’s also a proper time. If you think that you’ve got the “what to say” part down pat, now it’s time to make sure that you ask at the right moment.

Here’s how to determine the right time to ask for a raise.

Your Company Is Doing Well Financially

If you know for a fact that your company has been breaking financial records quarter after quarter, then it might be a good time to ask for a raise. That’s because the business is probably flush with cash and management wants to retain employees to maintain the same business model that’s already worked so well. In other words, business leaders don’t want you to be unhappy, resign from the company, or go look for jobs for stay at home moms.

Your Boss Is in a Good Mood

Sometimes, the most obvious answer is the right one. Why not ask for a raise when your boss is in a good mood?

If you’re at work and you notice that your boss is unusually grumpy and issuing a variety of complaints, it might be best to hold in your request for a raise until later. On the other hand, if your boss seems to be smiling a lot and in good spirits, it’s probably a great time to ask for an increase.

Other People Are Getting Raises

Although it’s considered unprofessional to discuss raises or compensation with peers, it’s often the case that word gets out. Maybe you’ve heard through the grapevine that some people in your department or even near your cubicle have received raises and you haven’t yet.

That might tempt you to be bitter. Instead of getting frustrated and taking pains to write the best cover letter in your search for a new job where you’ll be treated with more respect, why not just ask your boss for a raise too?

Your Performance Review Is Due

This is an easy one. When it’s time for your annual performance review, you should approach your manager with an attitude that you’re expecting a raise out of the meeting. In fact, many performance reviews conclude with some type of an increase in salary. Usually, the increase is a combination of a cost of living adjustment and a merit increase.

That’s why it’s a good idea to brag about your accomplishments to your boss during your annual review. Toot your own horn and drop reminders about everything that you’ve accomplished during the past year. If you’ve gone above and beyond the call of duty on more than one occasion, be sure to mention that as well. You’re basically advertising why you deserve a raise in that meeting.

If you’ve worked hard at your place of business for more than a year and haven’t received an increase in pay, then you’re probably due for one. Just be sure that you approach your boss with tact and professionalism when you ask for more money.