5 Things To Remember When Asking for a Raise

A Wells Fargo employee emailed the company’s CEO asking for a $10,000 raise and cc’d 200,000 other employees. Then there’s Microsoft CEO Satya Nadella who said that women who don’t ask for raises will receive good karma.  So what is the correct way to ask for a raise?

Jacqueline Whitmore is an internationally recognized etiquette expert and author of “Poised for Success: Mastering The Four Qualities that Distinguish Outstanding Professionals,” and founder of The Protocol School of Palm Beach.

Her tips:

• Timing is everything. The best time to ask for a raise is three to four months before your annual review. That’s when the budgets are being decided. You may also request a raise when you have been asked to take on additional responsibilities that do not fall under your job description.

• Be organized. Have all of your facts and figures in order and be prepared to explain why you deserve a raise. Come prepared with a list of your yearly accomplishments, such as big projects you have completed, statistics and results of those projects (i.e. sales increased 15% as a result of X, Y, Z), how you saved the company money or increased the company’s bottom line.

• Do your research. Find out how much others in your industry or job position are making. Use this data to request a certain sum or a percentage.

• Consider your alternatives. If your employer cannot meet the dollar amount requested, be prepared to negotiate for benefits (example: additional personal days per year or the ability to work from home and telecommute one day per week). If you don’t get the amount you want, reply with, “What would it take for me to earn a better raise in the future?” That way you’ll know exactly what your boss expects of you.

• Be polite and diplomatic. If you do not get the raise, don’t get angry and threaten to leave the company, even if you think you might do so. It’s best not to burn any bridges just in case you do get a better offer or need a letter of recommendation.

“It’s a fact that if you don’t ask, you may never get. If you’re not earning a fair salary or not being given the raise you think you deserve, it’s time to focus on asking for what you think you’re worth,” Whitmore says.  “Asking for a raise is not only good business sense, it shows that you’re committed to your well-being and that of your family.”