When (and How) To Ask For A Raise

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When and How To Ask For A RaiseHere's a question I hear a lot:

“Should I ask for a raise this year?”

Well, the answer depends on your length of time on the job so far.

If you’ve been working in your job for at least one year, then my answer is:

"Yes! Ask for the raise."

However, if you’ve only been working for your company for a few months, then my answer is:

"Best to wait until you’ve been there at least a year – unless you've accomplished a big, noteworthy achievement, in which case go for it."

Now, if you have been there for a year and want to ask for a raise, you may also be wondering if this time of year is really the right time to ask.

And that’s a really good question.

The answer is yes, now is a good time of year – so, go for it!

Consider this:

Right now companies are deep in budget planning for next year. And since part of that budget is payroll, asking for a raise now increases your odds of being considered.

Another good reason to ask for a raise as soon as possible?

From the point of view of your boss, you're a valuable asset – and replacing you with an unproven and untested employee is an expensive gamble for the company. So the amount of your raise may very well be negotiable.

Unfortunately, although folks may agree “now” is the right time to ask for a raise, most won’t do it because they aren’t sure how to ask.

And negotiating the amount of the raise may seem intimidating.

However, the good news is, asking for and negotiating your raise isn’t complicated at all. It’s a transferable skill anyone can learn. That's why, in Interview Success Formula there’s a section called “How to negotiate a higher starting salary” – and it’s packed with helpful advice and pointers that you can use when approaching your boss and negotiating your raise.

Even if it's not a super comfortable conversation, this one conversation can put thousands of dollars in your pocket every year after that.

So it's definitely worth having. (And I encourage you to do some homework beforehand that can strengthen your case.)

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Alan Carniol

Alan is the creator of Interview Success Formula, a training program that has helped more than 40,000 job seekers to ace their interviews and land the jobs they deserve. Interviewers love asking curveball questions to weed out job seekers. But the truth is, most of these questions are asking about a few key areas. Learn more about how to outsmart tough interviewers by watching this video.