8 Ways to Tell if You Need A Raise

Do you feel as though you’re properly compensated for your efforts at work? If not, when’s the last time you asked for a raise?

Typically, many workers receive salary increases once a year following their annual review. This, of course, is assuming they’ve worked hard all year, developed their skills and taken on more responsibility.

Then there are those who are luckier. They receive raises more frequently than once a year.

Finally, there are those poor saps who haven’t had a salary uptick in years.

Are You Due for a Raise? Here Are 8 Ways to Tell if You Need a Raise

No matter where you fall on the spectrum, you’re at least somewhat interested in boosting your salary. You’ll never get a raise if you don’t ask for one. With that in mind, let’s take a look at eight telltale signs that indicate it’s time to ask for a raise.

1. Your clients are extremely happy — and they’re vocal about it.

Are your clients enthusiastic about your work? Are they routinely buying additional assets and extending and expanding their contracts?

If so, it’s a clear indication that you’re in a prime position to ask for a raise. Your boss certainly wouldn’t want you to seek employment elsewhere and then have to tell thoroughly satisfied clients you’re being replaced.

2. Your boss is in the greatest mood of all time.

Is your boss grinning from ear to ear? You might want to use his or her great mood to your advantage. If everything is going well at the office and your boss seems to be in an approachable mood, why not ask if you can have a brief meeting to discuss your compensation?

It sure beats asking for a raise when your boss is angry.

3. It’s not uncommon for folks in your industry to get raises regularly.

If you wait tables, you might not be successful in asking your boss for a raise.

But if you work in other industries where folks get raises often — such as marketing or finance — you need to proactively ask your boss for a raise, assuming you haven’t had one in some time. If everyone else is getting a raise, there’s no reason why you shouldn’t be.

4. Your organization doesn’t have a strict policy on raises.

Does your company review every employee’s performance at the end of the year and then make corresponding salary adjustments? Or is there no rhyme or reason to how your company approaches compensation?

If your company doesn’t have a strict policy on when raises are given, ask your boss for a meeting when the time is right. A good time would be, for example, after you dominated a project and received excellent feedback.

5. You’re getting more and more work on your plate.

When you receive more and more work on a regular basis, it might be time to ask your boss for a raise, particularly if you’re salaried and your company isn’t too keen on overtime pay.

6. Your company is crushing it.

If your organization has been doing very well, you might want to strike while the iron is hot and ask your manager for a raise.

You work hard all week long, and partially because of your efforts, your company is thriving. Management should share the wealth, but you need to ask them to.

7. Another company expresses an interest in you.

Have you been doing so well at work that an organization is trying to poach you?

Let your boss know right away. Tell him or her that you love working for the organization, but you want to be compensated more. Give your boss the chance to offer you a number that’ll encourage you to stay put.

8. You got promoted.

There’s no sense in taking on more responsibility if you’re not going to get compensated additionally.

Believe it or not, some folks get promoted and don’t receive raises. This is probably due to the fact that they don’t ask for them. When you’re on the receiving end of a promotion, by all means ask your boss how much more money you’re going to make as a result.

Good luck!

Anum Yoon is a personal finance blogger and writer. She created and maintains her personal finance blog Current on Currency. You can subscribe to her blog newsletter right here for her weekly updates.