Is your compensation reflecting your true value and aspirations? Surprisingly, 46% believe they are underpaid. This sentiment is echoed in the 2023 PayScale Gender Pay Gap Report, which reveals a persistent disparity between men’s and women’s earnings. The report highlights that this gap widens for women of color, those in senior roles, and those working in specific sectors.

Source Requesting a raise can feel like navigating a minefield. Drawing from 12 years of experience in recruitment, during which I’ve placed hundreds of individuals and mentored thousands in their job searches, I’ve extended over 400 job offers and negotiated countless salaries. Implementing the strategies I’ll share, I successfully increased my own salary by 57% (with the same company) and reached the top 1% of highest-paid corporate recruiters nationwide. I’m eager to share these proven methods so you, too, can secure the compensation you deserve. Additionally, I’ll provide email templates and sample scripts to confidently initiate these conversations with your manager.

Contents

• What to do before you ask for a raise
• Factors that affect your salary
• Best time to ask for a raise
• How to politely ask for a raise
• What NOT to say when asking for a raise
• How to ask for a raise: Email templates
• How to ask for a raise: Example scripts

Before seeking a raise, it’s crucial to grasp how market value operates. Why does a store manager earn more than a cashier? While cashiers handle transactions and provide customer service, store managers oversee staff, drive sales, manage profits and losses, maintain inventory, and address escalated customer issues. Both roles are vital, yet the manager commands a higher salary. This difference stems from the skills, value added to the company, and the level of responsibility each position entails. Market value represents the worth of a particular skill set within a specific company and industry.

Securing a raise hinges on understanding your worth, improving your skills, and consistently increasing your value to the organization. Your earnings often reflect the value you bring to the table. Five factors influence your salary:

1. Skills: These are the abilities you provide in exchange for compensation.
2. Experience: This reflects your proficiency, demonstrated by past achievements.
3. Company: The specific organization you work for within a particular industry plays a role.
4. Industry: The sector your company operates in (e.g., retail, finance, technology) matters.
5. Geography: Your job’s location impacts your salary due to factors like cost of living. Let’s explore how each factor influences your market value and leverage when requesting a raise. It’s important to clarify that “low” or “high” value doesn’t refer to personal worth but rather to market value from a business standpoint.

Skills

Entrepreneur and investor Dan Lok emphasizes the significance of “high-income” skills. These specialized abilities, such as public speaking, cybersecurity, leadership, copywriting, teaching, sales, web design, and digital content creation, often command higher salaries due to the training and experience required. To increase your income and successfully negotiate a raise, focus on acquiring high-income skills and strive for mastery. Your job title, often determined by your skills and experience, also influences your salary. Keep this in mind when determining your raise amount.

Source

Experience

When facing a major surgery, most would prefer a seasoned surgeon over a novice. Why? Experience brings a sense of trust and confidence. Employers share this perspective when evaluating raise requests. Four elements contribute to your overall experience:

• Time: The duration you’ve applied your skills in a professional setting.
• Quantity: The volume of tasks completed within your role.
• Quality: The proficiency with which you execute your responsibilities.
• Effectiveness: How well your results align with key performance indicators (KPIs). To enhance your experience and value, capitalize on professional development opportunities available within your field. Aim to excel in your role and strive to become an expert.

Company

Consider the trajectories of Blockbuster and Netflix—two companies that once went head-to-head. Both began in the video rental sector, but their destinies diverged. While Blockbuster dominated initially, Netflix, launched in 1997, reached a valuation of $203 billion by 2020. Today, Blockbuster exists as a solitary store in Oregon.

Source A company’s leadership, strategic direction, and execution significantly influence its industry standing. This, in turn, impacts your chances of securing a raise. Stay informed about your company’s performance and that of its competitors.

Industry

Recent years have witnessed varying impacts on different industries. The pandemic heavily impacted industries , including travel, entertainment, and dining, faced significant challenges. While some are recovering, others grapple with supply chain issues. Additionally, most industries have been profoundly affected by rising inflation. Stay updated on industry trends and their potential effects on your company and role. This awareness will guide your timing and raise expectations.

Geography

Salary expectations can differ based on location due to variations in living costs, taxes, etc. It’s not uncommon for individuals to accept a pay cut in exchange for a lower cost of living. Utilize tools like PayScale’s Cost of Living Calculator to compare your city’s costs with others.

Armed with an understanding of market value and its influencing factors, let’s determine the opportune moments to request a raise.

There are no strict rules about how frequently you can request a raise, but certain times are more favorable.

Salary review

Most organizations have a structured salary review process. My former employer conducted annual reviews, while some companies review salaries biannually. Contact your HR department if you’re unsure about your company’s cycle. These reviews present ideal opportunities.

Performance review

Companies typically conduct performance reviews more frequently than salary reviews. My previous employer held them quarterly. These meetings provide a platform to discuss your performance and potentially broach the subject of a raise.

Outlier event

Exceptional companies reward exceptional performance. Have you secured a major client, streamlined a process for substantial savings, or implemented a program that dramatically boosted employee retention? Extraordinary contributions merit a raise request.

Now that you understand how salary is determined, when to ask for a raise, and how much to request, let’s discuss the process. Here are three steps:

1. Know your value

Research salary ranges using tools like PayScale, Glassdoor, and Indeed. Inputting your job title, experience, and location refines the results.

Source If comfortable, discreetly inquire about salary ranges with peers in your field. During recruitment calls, keep a record of offered salaries. Gather as much data as possible. This information, not emotions, will be your strongest tool when making your case. The best way to ask for a raise relies on data and logic to persuade.

2. Be specific

As with any negotiation, you can request what you believe is fair. However, be prepared to substantiate your request. The market average may be around 3-5% of your current salary. This can fluctuate based on industry, company performance, your experience, and performance.

3. Build your case

Tangible results are your best allies. Meticulously document every achievement, win, and contribution that benefited the company. This practice will make you a more mindful employee, as you’ll be more attuned to your contributions. This heightened awareness will also boost your confidence when requesting a raise. Prioritize documenting results tied to cost savings, time savings, revenue increases, and efficiency improvements. Here’s an example: On my first day at my previous company, I encountered a mountain of staffing agency invoices. These agencies typically charge 20% of a candidate’s salary. For a $100,000 software engineer, this meant a $20,000 fee. As an internal recruiter, my goal was to eliminate our reliance on agencies and save costs. During my tenure, we hired over 400 individuals without a single placement fee. I meticulously tracked every hire and the potential agency costs, which contributed to my 57% salary increase and top 1% ranking.

4. Make the ask

Be direct and lead with results. Speak your manager’s language - focus on their priorities. Here are some points I’ve successfully used:

• Hired 114 employees without relying on third-party agencies (7 consecutive years).
• Saved $8,000 annually by eliminating unnecessary software licenses.
• Effectiveness & Results: 77 hires (42 permanent, 22 temporary, 13 contractors) despite a recruiter shortage.
• Spearheaded a nearshore resourcing strategy that reduced development costs by 50%.
• Implemented a “pipeline recruiting” strategy that cut hiring time by 50%.
• Saved $5,000 by maximizing organic recruitment methods.
• Achieved a 60% year-over-year increase in internal referrals (135 total) by fostering a referral culture. As you can see, I emphasized cost savings and efficiency—a highly effective strategy. Use this as inspiration when structuring your accomplishments.

When requesting a raise, avoid these phrases:

• I haven’t received a raise in [duration], so I’m due.
• [Coworker’s name] earns more than I do, so I deserve a raise.
• I’ve been with the company for [duration], so I’m owed a raise.
• Other companies are offering me more money.
• If I don’t receive a raise, I’ll seek employment elsewhere. If your request isn’t grounded in your accomplishments and contributions, it will be difficult to justify. Follow the outlined steps to present a compelling case.

Requesting a raise can feel daunting, but initiating the conversation doesn’t have to be. Use these email templates as starting points. Remember, in-person (or virtual) discussions are preferable for detailed conversations and to address any potential feedback your manager might have.

Email template #1: Starting the conversation

Dear [Manager’s name], I’d like to schedule a time to discuss a performance-based salary increase. Due to the contributions outlined below, which significantly benefited the company, I believe my performance warrants a review of my compensation. [List supporting points here]. For example: Completed [specific task] which yielded [measurable outcome] resulting in [quantifiable benefit to the company]. Please let me know your availability to discuss this further.

Email template #2: Scheduling a salary review

Dear [Manager’s name], I’d like to schedule a time to discuss my current salary. According to PayScale, Indeed, and Glassdoor, the average salary for a [Your title] with [Years of experience] in [Your location] is [Average market salary]. My current compensation is [Percentage] below this average. I’d appreciate the opportunity to review my salary to ensure it’s aligned with the market average. Please let me know if you require any further details before our meeting.

Once you’ve sent your email, prepare for a face-to-face discussion. Use these scripts as a starting point, and have your list of achievements ready.

Script 1: Starting the conversation

Thank you for meeting with me to discuss my raise request. As outlined in my email, I’ve consistently delivered excellent results for [Company name] over the past [Duration]. My recent accomplishments include [Highlight key points and achievements]. These contributions have [Explain impact on the business]. Therefore, I’d like to request a salary increase.

Script 2: Salary review

Thank you for your time. As mentioned, my research indicates that the average salary for a [Your title] with [Years of experience] in [Your location] is [Average market salary]. My current compensation is [Percentage] below this average. Furthermore, I’d like to highlight a few points that support my request: [Outline key achievements and their impact]. I appreciate your time and consideration.

Script 3: If they decline

Companies might be unable to offer raises due to various reasons. If that’s the case, utilize this script: Thank you for your consideration. Could we discuss goals and next steps that would allow us to revisit this conversation in [Six months or one year]? I’m committed to making valuable contributions and focusing on areas that benefit the company and my career growth.

Now go get your raise!

Earning a raise boils down to increasing your value. Enhance your skills, consistently deliver results, and become an invaluable asset. Know your worth, lead with accomplishments, believe in your value, and confidently make the ask!