How to ask for a raise in an uncertain economy

Asking for a pay rise can feel a little daunting, but it doesn’t have to be! If you’ve been putting in the work, adding value to your team, and consistently going above and beyond, you deserve to be recognized for your contributions. The key to a successful pay rise conversation is preparation, confidence, and a clear strategy.

Here are five top tips to help you approach the conversation with confidence and get the outcome you deserve this year.

1. Do your homework

Before you even think about setting up a meeting, arm yourself with knowledge. Research the typical salary range for your role in your industry, region, and experience level. Sites like Glassdoor, PayScale, or LinkedIn Salary can give you a ballpark figure.

Beyond market rates, take stock of your own contributions. Have you exceeded your targets? Taken on additional responsibilities? Solved big problems for your team? Concrete examples of your value will strengthen your case.

Pro Tip: Write down your key achievements over the past 6-12 months. Specific numbers and results, like “increased sales by 15%” or “streamlined a process that saved 10 hours per week,” carry weight.

2. Time it right

Timing can make or break your request. Ideally, aim to have this conversation after a big win (like completing a major project) or during your company’s annual performance review cycle. Avoid bringing it up during stressful periods or when your boss is juggling multiple deadlines.

It’s also a good idea to give your manager a heads-up. Request a meeting to “discuss your performance and future growth” rather than springing it on them out of the blue.

Pro Tip: Mid-morning on a weekday is often a good time for these discussions. People tend to be more focused and less stressed than they are later in the day.

3. Be direct but professional

When the time comes, approach the conversation with confidence and professionalism. Start by expressing gratitude for the opportunities and support you’ve received, then pivot to discussing your request.

For example:
“I really appreciate the opportunity to contribute to the team and the support you’ve provided over the past year. I’d like to discuss my current salary and explore an adjustment that reflects the value I’ve been delivering.”

Stick to the facts—focus on your performance, contributions, and market data. Avoid personal reasons (e.g., “I need a raise because my rent went up”) as they can dilute the professional tone of your argument.

Pro Tip: Practice your pitch beforehand. Rehearse it out loud to a friend or in front of a mirror to boost your confidence.

4. Be prepared to negotiate

Even if your boss agrees with you, they may not be able to meet your exact request right away. Be ready to discuss alternatives, such as a phased increase over time, additional benefits (like more vacation days), or a bonus.

If the answer is “no” or “not right now,” don’t panic. Ask for clarity:
“What would need to happen for a salary adjustment to be possible in the future?”

This shows initiative and leaves the door open for future discussions.

Pro Tip: Set a specific follow-up plan if the timing isn’t right now, such as revisiting the conversation in three or six months.

5. Know your worth, and be willing to walk

Sometimes, despite your best efforts, the answer might not align with your expectations. If that happens, it’s important to evaluate your options. Knowing your worth means being prepared to explore other opportunities if your current employer isn’t willing to invest in your growth.

That said, don’t threaten to leave unless you’re genuinely prepared to follow through. Instead, frame it positively: “I value being part of this team, but I want to make sure my compensation reflects my contributions.”

Pro Tip: Keep your LinkedIn profile updated and maintain your network. Being prepared for other opportunities gives you leverage and peace of mind.

A final thought

Asking for a pay rise doesn’t have to be intimidating. With research, timing, and a clear strategy, you can approach the conversation with confidence and professionalism. Remember: advocating for yourself is part of your career growth, and when done right, it shows initiative and self-awareness.
So, get your facts straight, plan your pitch, and go for it—you’ve earned it!

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