The Right Time to Ask for a Raise

The typical raise for the coming year is just 3%, but—even worse—many companies are eliminating the annual performance review altogether. That means the burden is now on you to find the right time to talk to your boss about getting a raise. Ask yourself these five questions before talking to your boss.

Have you accomplished anything worth talking about? You have to give your boss a good reason to give you more money.

Have your job responsibilities changed? If you've added new duties and done a good job, that's a great way to open a conversation.

Do others think you're great? Have close colleagues or trusted clients toot your horn for you; ask them to send an email to your boss about how much they enjoy working with you.

Is your job in demand? Are you easily replaceable? Even if you are, that doesn't disqualify you from asking for a raise, but it should factor into how much more you ask for.

How is your company doing? This may be the most important question; if your company isn't investing in your division or there's a budget freeze, you'll be fighting an uphill battle to get more money.

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