7 Signs It’s a Good Time to Ask for a Raise

Everyone wants a raise. Everyone thinks they deserve a raise. But no one wants to ask for a raise.

One can hardly blame people for being hesitant – asking for more money is no easy task. Essentially you’re asking your boss if he/she thinks you’re worth investing more money in, and no one wants to deal with feelings of rejection of worthlessness should the answer be no. But the fact remains, even some who deserve a raise don’t get it. And why is that? Because too many people don’t ask themselves if it’s the right time to ask for a raise.

Here are some important signs to look for that tell you it’s a good time to ask for more money.

7. Your Company’s Good Financial Health

This should be obvious, but we’re going to say it anyway. Take a good, long look at the financial well-being of your company before you ask for a raise.

If things are good, revenue is up, and goals are being met across the board, then have at it. You stand a much better shot of getting what you want if everything else is falling into place. But, on the other hand, if the company is laying people off, losing money, and spiraling into ruin, asking for a raise is going to seem pretty tone deaf.

You might be able to get away with it if you’re truly a superstar high-performer, but tread carefully and gauge the atmosphere.

6. Your Boss’s Good Mood

If it sounds simplistic that’s because it is. But just because it’s simple doesn’t mean it’s not important.

Think about it. If you’re in a good mood and someone asks you for something, aren’t you more inclined to grant the favor? That’s just human nature, and your boss is no different. So before you ask for a raise, gauge your boss. Is he ecstatic over a recent big win? Did he just get a promotion or accolades himself? Is his team well on their way to meeting goal and garnering him a bonus?

If things are going well for the decision-makers, the decision on your raise stands a much better chance of going your way.

5. Other People Have Received Raises

People generally play this close to the vest, but it seems word always gets around when coworkers are receiving raises. So if you’ve confirmed that other employees are asking for and receiving raises, and you’re either at their level or do better work, then that can be a positive sign to ask for a raise of your own.

The only thing we’ll caution you on here is not to reference the raises of other employees in your request. A raise should be about you, your work, and your potential future value to the company that makes you a worthwhile investment. Going into your boss’ office and saying “Well Sally got a raise and I do twice the work she does” just sounds whiny.

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Article by Aaron Gouveia and courtesy of Salary.com