How to ask for a raise with confidence

Think you’re in a good position to ask your boss for a raise? Studies show that 82% of full-time workers who asked for a raise in 2024 got one^{Disclosure 1}—but that doesn’t guarantee you’ll get a “yes,” even if you really do deserve one.

When you want to ask for more money, preparation can make a big difference in the result. These steps can help you get ready for the conversation and feel more confident when asking for a raise. 

Assess your readiness and the market before asking for a raise.

First, get a firm understanding of what a fair compensation looks like for your role, skills, experience, and geographic location. If you feel you’re delivering more value than you’re being paid for and the marketplace backs you up on that, compile the proof points to support your case. You’ll want to ensure you’ve done your homework and can speak to any rationale for why you deserve more money before starting the conversation about a raise.

Brian Ford, head of financial wellness at Truist, says to start by looking at three main ways to create value in the workplace: labor, ideas, and leadership.

• Labor: These are the tasks you do every day and have mastered. Write down your job description in your own words and note the ways you excel in each of your responsibilities.
• Ideas: This can be any creative thinking and innovation you do at work. Write down any new processes or initiatives you’ve executed that have benefited your employer in some way.
• Leadership: Leadership happens at every level of an organization, so think broadly about your skills. Have you mentored teammates? Stepped up during a crisis or transition? Write down all the ways you’ve made decisions and carried out solutions, including building up your team, reducing friction, or wowing customers.

If you’ve got numbers to show how your labor, ideas, or leadership reduced costs or increased revenue, even better. For example, if you know your new process saved the company X dollars per year, say that. And keep a running list of your wins so you’re always ready to talk about your value—whether it’s for a raise, promotion, or new opportunity.

Do your homework.

Once you’ve got your list of accomplishments, ideas, and leadership qualities, another important element you’ll need is market research. What’s the going rate for your job? Start your search on sites that publish salary research and information. Look into what your industry typically offers for your position and be sure to consider your location, too. The rate for a job in New York City will likely differ from that of the same job in a smaller city or rural location.

If you discover you’re underpaid relative to the market, that’s a strong argument for a raise. And even if you’re within the market range, having those figures will help you make a specific, reasonable request.

Consider the timing.

When you ask for a raise can be nearly as important as how you ask. Keep in mind that certain times are better than others to start the conversation.

But Ford says to watch out for “analysis paralysis” over this. The timing may never seem perfect.

“Be mindful of what’s going on in the company and of what’s going on with your boss and their particular situation, but don’t give it too much credence,” says Ford. “There will never be a perfect time to ask for a raise. Timing is not as important as simply being deserving of it and showing why.”

Tap into your inner salesperson—and practice.

Asking for a raise at work isn’t something everyone is naturally comfortable with. But as with many things in life, when you’re prepared, you feel more confident.

Think of yourself as a salesperson selling a concept—your value to the organization. And remember that good salespeople are good at selling because they do it a lot—it’s their job. You may not be asking for a raise every day (in fact, you probably shouldn’t) but practicing for it or even studying how-to videos or books on sales could help you feel in control when it comes time to bring up the raise you want. 

Remember to keep the dialogue open and collaborative. It should feel like a conversation—not like you’re reading a script. Thinking about it this way can also help calm any nervousness you have. 

Get the conversation started.

You’ve prepped. You’ve practiced. Now it’s time to start talking. Set the right tone by scheduling a dedicated meeting with your boss. Avoid cornering them unexpectedly, when they may not have time or attention to give.

When the meeting begins, strike a respectful and positive note. Thank your manager for their time, and express enthusiasm for your role and team. Then move into the topic of a raise, using the key points you compiled around your labor, ideas, and leadership.

Don’t be afraid of hearing “no.”

If you’re turned down, don’t lose hope. Ask your boss and peers what you can do to get a “yes” next time. They might suggest goals you could work toward, challenging projects to take on, or even a training plan to add to your expertise. 

When you focus on what you can learn from rejection, you can maintain a positive outlook and stay motivated on your journey toward increasing your income and financial confidence. And remember that if you don’t ask, the answer is always “no.”

“The key [to getting a raise] is to be proactive and ask for the pay and positions you deserve, rather than just hoping someone will notice the good job you do,” Ford says.

Cultivate a healthier money mindset.

Earning more money can help you pursue other financial goals and achieve the kind of lifestyle you want. But be careful not to get caught up in making money for money’s sake.

Investing in yourself—putting as much thought, time, effort, and care into managing your career as you do into managing the rest of your financial health—can help you work and live according to your values. Working to create value for others can help you achieve a balance between making and enjoying money and can increase your overall career and life satisfaction.