A By-the-Numbers Guide to Asking for a Raise
Percentage-increase requests yield better results
For many people, one of the most daunting and awkward conversations they can have with their manager is about money. Let’s say this is you. You’ve put in hard work and done your research, and you believe you deserve a raise. So how much do you ask for and when? Here’s your guide.
How much to ask for
There’s evidence that you’re more likely to get a bigger raise if you ask in terms of percentages instead of dollars. This is because the percentage will feel less tangible. Think about it: If you are making $50,000, what feels more substantial to you — getting a 10 percent raise or $5,000 more per year? Probably the $5,000, since you (and your boss) can immediately imagine what the extra $5,000 could buy. It has tangible value, whereas 10 percent is an abstraction or representation. What can you buy with 10 percent?
Just to keep you at your company, your boss might give you a five percent raise if you ask for one, but if you want 10 percent or more, you will need to make a compelling case using data. (You can also take more risks if you have another position lined up.)
I personally believe that 10 to 15 percent is the perfect amount to ask for unless you are being wildly…
