4 things to do when asking for a raise - and 2 you should never do

Hoping for a raise this year? Read these 4 things you should do when asking for a raise.

  • Facebook.
  • Twitter.
  • LinkedIn.
  • Google Plus
  • Print

Asking for a raise can be awkward and uncomfortable. That may be true, but if you want to make more money you have to put your feelings aside and put yourself first. The subject of money is hard to approach, but there are some things you can do to ease the conversation with your boss and get the raise that you deserve.

Here are four ways to ask for a raise and prove you're worth it:

Keep track of your accomplishments

A raise is an investment in you as an employee and before a company spends money they need to know they'll get a return on their investment. Prove to your manager that you have worked hard to earn the raise by keeping track of your accomplishments throughout the year.

According to Harvard Business Review "You want to be able to demonstrate how you add value and how you've made a difference to the company."

Book an appointment with your boss

Asking for a raise isn't easy, but being prepared can make it go a lot better. Discussing money casually won't give you the chance to showcase your skills and accomplishments. Take some time to get prepared and book a meeting with your boss. This will show your manager that you're serious about your career within the company and hopefully in turn you'll be rewarded.

Research the salary range

There's absolutely no point in preparing for a meeting with your boss to ask for a raise if the salary you're hoping for is above and beyond what your company is willing to pay. Most companies offer a salary range for each job level, so research what it is for your current job and ask for a number that's within the range.

Of course we would all like to make more money, but our goals have to be realistic. Keep in mind it's better to ask for a little extra money and get approved than to ask for too much and get nothing.

Continue investing in yourself

Be professional at all times and don't be afraid to spend some money on investing in yourself. Attend conferences, take courses and go to workshops to help improve your skills.

Make sure your boss knows about it and even share a summary as a follow up to help the rest of your team. It shows your boss that you're working on yourself and being a team player at the same time.

Here are two things to never do if you want to ask for a raise:

Don't mention money in a group
Demeanor in the workplace is so important for career growth. How you present yourself and how you're perceived by others are just as important as the quality of your work. Don't bring up individual performance or salary in a group setting. This is tacky and could hurt your professional image.

Don't compare yourself to others
How much you're paid versus how much your co-workers are paid is irrelevant. Companies evaluate salaries on an individual basis. When asking for a raise it should be all about you, your skills and your contribution to making the company better.

  • Career Planning
  • Pay & Benefits
  • Facebook.
  • Twitter.
  • LinkedIn.
  • Google Plus
  • Print
This article was written by Ginger Dean from Forbes and was licensed as an article reprint from April 30, 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.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917.
Please enter a valid e-mail address
Please enter a valid e-mail address
Important legal information about the e-mail you will be sending. By using this service, you agree to input your real e-mail address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an e-mail. All information you provide will be used by Fidelity solely for the purpose of sending the e-mail on your behalf.The subject line of the e-mail you send will be "Fidelity.com: "

Your e-mail has been sent.

Your e-mail has been sent.

Here's what we suggest you explore next

Just 1% more can make a big difference

Putting just 1% more of your salary each month into a tax-advantaged retirement account like a 401(k), 403(b), or IRA could make a noticeable difference.

Open a Fidelity IRA and get more than tax benefits

Free investment help. Exceptional service. Range of investment choices.

You might also like

Managing your finances as a freelancer

Freelancers work in the gig economy, taking on numerous short term jobs at a time. Read here to learn about the benefits and challenges faced by working as a freelancer in the gig economy.

How to prepare for salary negotiations

Salary negotiations can be intimidating. This article can help you prepare to negotiate your salary, and be ready for any questions that may come your way.

4 things a hiring manager could find out about you

Are you applying to jobs? This article highlights four things a hiring manager could find out about you during the interview process.

Like your checking account, but with some award-winning extras

All ATM fees reimbursed. No minimum balance. Pay bills. Deposit checks.