Knowing how to effectively and confidently ask for a raise is the best way to improve your financial wellbeing and set yourself up for a prosperous future. Increased income means more money to pay off loans, invest, or save for retirement or a down payment on a home.
Despite the clear benefits that come with a raise, mustering up the courage to ask for one can be intimidating, especially if it’s your first time. According to a recent survey, 70% of people who ask for a raise receive one, yet only 37% of workers even ask. Many factors are at play in deterring people from asking, including being new to the workforce and being unsure of how or when to ask.
If you think you don’t have the years or experience to justify a higher wage, you may be surprised to find out that there are several other factors that you can leverage when negotiating your salary. Our guide gives you the tools to maximize your earnings through every step of your career. By keeping these best practices in mind, you’ll be able to secure a raise — no matter your age or experience — and enjoy the myriad of benefits that come with it.