Posted by Brian McCullough
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Last week I had post about asking for a raise. Reader Rachael had this comment:
Is there a general rule about how often raises should be requested? I’ve been thinking about asking but I don’t know if it would be in my better interest to wait another month or s0. My last raise was in September but I’m still making a bit below what I should be making in my position.
Brian answers after the break…
The issue here is one of perception. Obviously, you could come off as a bit too eager if you’re going around asking for a new raise every couple of months. This is something you really have to think over and consider your reputation. Are you going to come off like a jerk? Have you done this more than once? If so, waiting might be the best thing for your career and your reputation.
Here are my basic rules about asking for a raise:
- If all things are equal, you shouldn’t ask for a raise more often than once a year. This means, if you’re still doing the same work, and the business you work for is still doing the same level of business, then you shouldn’t expect more than a cost of living upgrade.
- However, you could consider asking for a raise sooner than once a year if one of the two things happen:
- 1) The business you work for suddenly has a surge in business and is doing materially better than it was before. If the business is doing significantly better, then it is reasonable to request that you share in a bit of the largess.
- 2) Your workload/responsibilities increase substantially. This is even more logical. If you’re doing more work, it’s reasonable to request more compensation for that work.
I personally would wait 18-24 months between asking for new raises, and I would time them based on my knowledge of the company’s fiscal year and budgeting schedules. After all, you’re more likely to get a raise when there’s extra money sitting in the budget.
But then again, I’m a bit more cautious than others.