If you've been at your job for a while now and you get along well with your boss and coworkers, excel in your role, and are ready to take on new challenges and responsibilities, it’s time to ask for a raise!

Asking for a raise takes preparation and confidence. While it can be intimidating, it can help you grow fundamental professional skills that will benefit you at any job! Here are seven tips for knowing when and how to ask for a raise.

When to ask for a raise

After a promotion

This is a simple one. If your responsibilities increase, so should your pay! If offered a promotion, be prepared to negotiate an increase in salary.

After accomplishing something big

When you accomplish something at work, like making a sale, getting positive feedback from a customer, or completing a big project, be sure to keep a record of it! This is a good opportunity to ask for a raise.

At a milestone

The time frame for getting a raise will vary depending on the company you work for and how long you’ve worked there. Some companies offer raises at six months, and others at one year. Once you reach a milestone like this with your company, you may be due for a raise. Check your company’s employee handbook or talk to your HR representative to learn more.

How to ask for a raise

To ask for a raise, you’ll need to schedule a meeting in advance with your manager. If you can have the meeting in person, even better! Here are some tips to prepare for asking for a raise.

Do your research

Set aside some time in advance to research what people in your position usually make at different companies, as well as what the average pay is for your role at your specific company. Knowing this information can ensure that you are receiving fair pay. To find this information, reference your employee handbook or talk to your HR representative.

Prepare proof of achievements

Document your achievements at work to present to your manager when you ask for a raise. We recommend creating a work journal or document that outlines the projects you managed, the number of customers you helped, or any education or training you completed that was beneficial in your role. If you can tie your achievements to the overall goals of your company, even better! Show you understand the big picture and how you fit into it. Not only will having documentation of these successes help you when asking for a raise, it will also come in handy when it’s time for your performance review!

Be open to negotiating

Entering your meeting being open to negotiating is key. Even if your company is unable to offer you a raise, they may be willing to offer you extra vacation days or other job perks instead. This may be disappointing, and does not replace an increase in your wages, but can be a meaningful compromise. If you do not receive a raise or any other job perks, be sure to ask your manager when a good time to have the conversation again would be. This shows you see yourself contributing to the team in the future and are invested in both yourself and the organization!

Plan your next steps

Regardless of whether you get the raise, this can be a great time to take a moment of reflection about your performance at work and how you can continue to grow as an employee. This is a great opportunity to ask for feedback about your performance in your role and plan next steps to improve.

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