When to ask for a salary increase
Picking the right time to ask for a salary increase is just as important as preparing for the discussion.
Know the budgetary limits
When picking a good time to ask for a raise, find out when your organisation’s fiscal budget planning takes place. This will ensure that you aren’t asking for the impossible.
When no provision has been made for any salary increase, then you know that your employer is not planning to give any salary increase.
After your employer announces positive financial results
If your employer’s financial results are positive, then it may be a good time to bring up the subject of a salary increase.
Ask during the performance review
A natural time for this conversation may be at your annual performance review when the topic of salary is not only timely but often expected.
Introduce the topic appropriately.
Explore the topic after an important project
If your organisation doesn’t have an annual review period, think about having this conversation after you have completed an important or major project or shown excellent work that people have praised you for.
Pick a quiet time on your manager’s schedule
When your manager is busy or stressed it is not the best time to bring up the topic of a salary increase.
Check their schedule or calendar to ensure that you have their undivided attention. This will enable you to get your points across at your own pace.
Don’t walk in and simply ambush your manager
Do prepare the ground by emailing your manager first. Do mention that you like to chat about a salary increase before you request a formal meeting.
This will give them time to think about it and work with you toward a solution.
When your manager asks you to take on more responsibility
Be prepared and willing to take on more responsibility. This is a sign of your manager’s confidence in you.
When you are taking on more permanent responsibility, it may be a good time to ask if a salary increase can also be considered.
Otherwise, if it is a temporary gig, then be acting or higher duty allowance will be nice.
Renewal of your contract
If your manager wants to renew your employment contract, then it is a good time to explore whether there is an appetite for an increase in pay.
Worst times to ask for a pay increase
Here are some bad times to ask for any salary increase:
(1) Following poor financial results by your employer or the loss of a major contract or customer.
(2) After your employer has announced a pay or recruitment freeze, or an organisational restructure.
(3) Monday mornings or during peak or busy times.
(4) Friday afternoon, when your manager is thinking about the weekend.