Mastering the Money Talk Part 2: Getting the Raise You Deserve
Asking for a raise can be nerve-wracking, but it’s a crucial step in advancing your career. In fact, research shows that only 37% of workers ever ask for a pay increase, even though about 70% of those who do ask receive one . The key is to prepare a strong case and deliver your request strategically. Employers find these discussions equally stressful — but they are critical if the organization wants to attract and retain a talented workforce. In this article, we distill the essential tips for both workers and employers – focusing on the timing of the request, the role of data and metrics, and bringing the right mindset to the conversation.
🤝 Let’s start with the employee perspective:
Tip 1: Pick the Right Time
Timing matters when asking for a raise – choosing the right moment can greatly improve your odds of success . You’ll want to approach your manager when both you and the company are in a good position to have the discussion. Here are some of the best times to ask for a raise :
After a strong performance review: Leverage positive feedback when your achievements are already being recognized.
Upon completing a major project successfully: Capitalize on the momentum of a big win while your contribution is fresh and visible.
When you’ve taken on new responsibilities: If your role has expanded significantly, your compensation should reflect that added value.
During a period of company success: Aim for moments when the company or team had a good quarter or hit key targets – it’s easier to ask when the financial outlook is positive.
When it’s been a year or more since your last raise: If a significant time has passed, a well-justified request is reasonable.
Conversely, avoid asking at the wrong moments. Steer clear of times when the company is struggling (e.g. during layoffs or budget cuts) or when your own performance has slipped – in those cases, even a solid pitch is likely to fall flat. Waiting for a better time ensures your request gets a fair hearing.
Tip 2: Use Your Company’s Performance Metrics as Proof
When making your case, back it up with concrete evidence. Don’t just say you “work hard” or “deserve” more – prove it. Outline your key accomplishments and use data to show the impact of your work. Use your company’s management tools to your advantage, including:
Performance management systems: If your role has defined targets, benchmarks, or KPIs, show that you haven’t just met them – you’ve exceeded them. For instance, if you consistently beat your sales quota or deliver projects ahead of schedule, make sure to bring that up.
Employee evaluations: If you’ve been rated as an “outstanding” contributor or recognized as a top performer on your team, use that to reinforce your request.
Tip 3: Align Your Performance with Company Goals
When you ask for a raise, frame your request in a way that aligns with the company’s goals and interests. This means connecting the dots between what you’ve done (and will do) and what the organization cares about. This involves a two-step process:
Identify the organization’s current priorities: Truly understand the organization’s current goals — these could include growth targets, cost savings, customer satisfaction, innovation, etc.
Make the connection between your contribution and organizational priorities: Emphasize how your work supports key objectives, drives success, or fills critical needs for the business. Demonstrating that your contributions directly support the broader mission makes a stronger case for why you deserve a raise . It shows that you’re thinking about the company’s success, not just your own paycheck, which can reassure your manager that an investment in you is an investment in the team’s future.
Tip 4: Recognize Your Own Limiting Beliefs
Even high-performing individuals can be plagued by self-limiting beliefs that cause them to second-guess their worth or hesitate in salary negotiations . Recognizing these mental barriers is the first step toward overcoming them. Below are some of the most common self-doubting beliefs people experience around pay conversations:
“I’m not good enough to deserve more.”: This classic imposter syndrome belief can make you undervalue your accomplishments. In reality, if you’ve been contributing to the team’s success, you do have legitimate grounds to discuss your compensation . (Keeping a log of your achievements can help counter this false feeling of not measuring up.)
“If I ask for more, I’ll be seen as greedy or pushy.”: Many fear that assertiveness will be judged negatively, especially in cultures where humility is valued. In truth, asking for fair pay when backed by evidence is professional, not greedy . Employers often expect some negotiation; presenting facts about your performance or market rates shows you’re being reasonable, not entitled.
“What if they get upset or say no?”: It’s normal to worry about upsetting your boss or facing rejection. However, experts note that this fear can be reframed: rather than obsessing on hearing “no,” focus on how good you’ll feel for advocating for yourself and initiating the conversation . Often, simply asking politely won’t damage the relationship – managers are used to these discussions. And if the answer is no, you can treat it as valuable information (like what you might need to do to earn a yes next time).
“I have to be perfect or wait for the ‘exact right’ moment.”: This is a form of perfectionism that keeps people waiting indefinitely. You might tell yourself you need another certificate, project, or year of experience before you “earn” the right to ask. While timing and preparation matter, don’t let the pursuit of perfect conditions become an excuse.
“Others work harder than me, so I don’t really deserve a raise.”: A lack of self-worth can lead to comparing yourself unfavorably to colleagues. If you’ve contributed significantly, you deserve to have your contributions recognized . Feeling undeserving is a thought, not a fact – try to view your work objectively (what would an impartial observer say about your impact?).
“It’s just not like me to negotiate.”: Some professionals see negotiating as “not in their personality,” so they shy away. This belief becomes a self-fulfilling prophecy: if you believe you’re not the kind of person who asks for more, you’ll act accordingly and miss opportunities . The truth is, anyone can learn to negotiate with practice. You don’t need to change your personality; you just need to build a new skill set (self-advocacy), one step at a time.
Tip 5: Create a Compelling Elevator Pitch
Once all the research, self-evaluation, and self-reflection is complete, it is time to build a narrative that is positive, direct, and persuasive — a personal elevator pitch. Here is a winning framework:
Polite opening and context: Start with a friendly greeting and an expression of appreciation for the opportunity to discuss your role. Briefly state the purpose of the conversation (your compensation) in a positive, confident tone.
Highlight your top achievements: Summarize 1–3 of your most significant contributions in your role, using concrete facts or metrics. Be specific about what you did and the results or impact.
Emphasize your value proposition: Connect your accomplishments to broader team or company goals to reinforce why they matter . Articulate how your work benefited the organization (e.g. boosted revenue, reduced costs, improved customer satisfaction) and demonstrate that you’re contributing beyond your basic job duties.
Make a clear salary request: Transition to your raise request and do it confidently. Use your performance evidence (and optionally any market salary data or increased responsibilities) as rationale for the amount . State exactly what you are asking for – a specific percentage increase or new salary figure.
Close on a positive note: Reiterate your enthusiasm for your job and confidence in your future contributions. Ending on an upbeat, assured tone underlines that you’re a valuable, committed team member. Thank the listener for their time and consideration.
💼 Tips for Employers — How to Handle the Ask
Employers should also use these guidelines when navigating requests for salary increases. Here is how these tips apply when you are on the employer side of the table:
Choose the right timing Schedule the conversation when you can fully focus—not when distracted or under pressure. If company finances make raises unlikely, be transparent about when the discussion would be more viable. Redirect poorly timed requests to a better moment without dismissing the employee’s effort.
Understand the employee’s market value & impact: Research market salary benchmarks for the role. Consider the cost of disengagement or turnover—how easy is this person to replace? Assess their impact on business success (e.g., revenue, efficiency, leadership).
Evaluate the impact of a raise: Ensure fairness—how would an increase affect team salary alignment? If approving one raise, consider how it affects future compensation discussions with this person or any other employee? On a net basis, will this raise enhance engagement or create internal tension?
Listen with openness & acknowledge their effort: Employees asking for a raise are advocating for themselves and this should be respected and encouraged. Even if the answer is no, recognize their contributions and preparation and be transparent about why the request cannot be satisfied at this time.
Offer alternatives if a raise isn’t feasible: If a salary increase isn’t possible, consider other ways to show recognition, including bonuses or performance incentives, additional PTO or flexible work/work from home arrangements, professional development funding (certifications, courses, conferences, coaching), equity, stock options, or long-term incentives — and consider whether a promotion might be the next logical step.
Remember, they could have walked away: Employees who ask for a raise instead of job-searching are showing they want to stay—respect that. A raise request is not just about money; it’s an opportunity to strengthen engagement and retention. A well-handled discussion can build trust and motivation, even if the answer isn’t an immediate yes.
Conclusion:
Preparing and delivering a well-structured raise request significantly increases your chances of success—most employees who ask receive one. The key is timing, a clear case for your value, and alignment with company goals. Likewise, employers should approach these conversations with fairness, transparency, and a focus on retention—listening openly, assessing market value, and considering alternative benefits when raises aren’t feasible. A well-handled discussion strengthens trust, motivation, and long-term engagement for both sides.
🔜 Coming Next Week: Mastering the Money Talk Part 3 – How to Position Yourself for a Promotion…and how Employers can use promotion to become a talent magnet.
Stay Tuned!