The best time to ask for a raise

Asking for a raise can be awkward, however if you work hard and are underpaid you should talk to your manager about increasing your salary. Learn more about what simple steps to follow to increase the likelihood of you being successful in getting that raise.

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Asking for a raise can be awkward, money situations usually are. However if you work hard and are underpaid you should definitely book an appointment and talk to your manager about increasing your salary.

Believe it or not there is a right way to ask for a raise, a way that will make your boss say yes—or at least make them think about it.

Here are four ways to ask for a raise—and hopefully get it:

When Your Job Description Changes

If your daily duties are changing and you're taking on a heavier workload then it's the perfect time to ask for a raise. Doing it after the job is done isn't a good time because the work has already been completed and your boss has already moved on to the next project.

Liz Ryan, Founder and CEO of Human Workplace says that a new role with new responsibilities is the perfect time to ask for a raise. "You can pitch your boss on a salary increase if you've taken on a big new responsibility that makes the organization money or saves money for them. If somebody quit or got laid off and you took over their duties, you've got a case to make, also."

If You're Actually Underpaid

Remember that money is a sensitive subject so approach with caution and stick to the facts. Say "I feel the work is worth more because…," don’t say "I'm underpaid and deserve a raise." When money is involved companies look at it from a business/numbers point of view, all feeling should be set aside.

Book an appointment with your boss and bring in a list of your accomplishments as well as the average salary for your position at both your company as well as the industry (you can use Payscale.com). This is all tangible information that will help your manager plead their case to Human Resources to find more money in the budget to retain good employees.

When You Consistently Over Perform

If you've been in your job for a while—at least long enough to have a performance evaluation—then you can be comfortable asking for a raise. As long as you can build a case as to why your work is worth the increase including your outstanding contributions to the company (use real examples of how you made or saved money) then you have a good chance of your boss giving you a raise.

In The Morning, We're Serious

Bringing up money at the wrong time is a career killer. If your boss overlooks your request once will you be comfortable bringing it up again? Probably not. That's why it's a good idea to present your case professionally as well as find the perfect time to talk to your boss about a raise- literally the perfect time of the day.

Believe it or not there are actually good and not so good times to talk money in the workplace. Mondays are bad, Fridays are good and mornings are always better. Who knew?

Topics:
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  • Pay & Benefits
  • Pay & Benefits
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This article was written by Ginger Dean with Forbes and was licensed as an article reprint from May 31, 2016. Article copyright 2016 by Forbes.
The statements and opinions expressed in this article are those of the author. Fidelity Investments cannot guarantee the accuracy or completeness of any statements or data.
This reprint is supplied by Fidelity Brokerage Services LLC, Member NYSE, SIPC.
The third-party provider of the reprint permission and Fidelity Investments are independent entities and not legally affiliated.
The images, graphs, tools, and videos are for illustrative purposes only.
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