How to Ask for a Raise: Timing, Scripts & the Data That Works
The median raise in 2024 across US companies was 3.8% (Willis Towers Watson), while job-switchers saw median increases of 10–15%. If you're asking for a raise at your current employer, you're competing against both the budget cycle and your manager's perception of your market value. Making a data-driven case consistently outperforms an emotional appeal.
Key Statistics
- Median base salary increase in 2024 was 3.8% for employees who stayed at their company (Willis Towers Watson)
- Job-switchers earned 10–15% more than stayers in 2024 according to the Atlanta Fed wage tracker
- 70% of managers have room to offer above their initial compensation number (LinkedIn Talent Trends, 2023)
- Employees with documented performance evidence are 3x more likely to receive the raise they requested (Salary.com, 2023)
- The average raise request result: workers asking for 10–15% typically receive 5–8% (Harvard Business Review, 2022)
Time your ask to the budget cycle
Most companies set compensation budgets 2–3 months before the fiscal year begins. If your performance reviews are in Q4 and the fiscal year starts in January, ask in September — before the budget is locked. Requesting a raise after the budget is set forces your manager into an approval process they may not be willing to start.
Build your evidence file before the conversation
A raise request without documented performance is an opinion. Compile: projects completed and their business impact (revenue generated, costs saved, efficiency gains), positive feedback from colleagues and leadership, scope increases since your last review, and external market data showing your skills are priced above your current rate.
- Projects with quantified outcomes: "Led migration that reduced infrastructure costs by $180K"
- Market data: BLS percentile data, Glassdoor or LinkedIn Salary for your title
- Expanded responsibilities: managing people or budgets you weren't managing before
- Retention risk signals: competing offers or recruiter activity in your space
How to open the conversation
"I'd like to discuss my compensation and schedule a meeting to talk through it." This is the only opener you need. Don't ask for permission to have the conversation, and don't ambush your manager by raising it in a 1:1 agenda item without warning — give them time to be prepared.
What if your manager says the timing is bad?
"I understand. Can we agree on a specific date for a compensation review?" Follow up in writing after that conversation. "Bad timing" is sometimes legitimate (a hiring freeze) and sometimes a delay tactic. Getting a specific future commitment on the record converts a soft no into a conditional yes with a deadline.
When to start looking externally instead
If you've had two consecutive below-market raises despite strong performance, the budget constraint is real but your employer is prioritizing other spending over retaining you. At that point, an external offer becomes your most effective negotiating tool — though you should only pursue it if you're genuinely willing to take that offer.