Ranked: The Best and Worst Times to Ask for a Raise

My kids often negotiate with each other who will ask me for more video game time or if we can have a movie night. I usually give in to both requests (especially if movie night involves pizza), but their hesitation comes from knowing that asking the right question at the wrong time can yield a negative result.

The same is true when broaching the subject of a raise. Even if you know you deserve one, waiting for the right time to ask for it could be the difference between walking away from the conversation with an improvement to your personal finances or not. Here are some of the best and worst times to do it.

Best time: When your original job changes

One of the best times to ask for a raise is when you receive significant additional responsibilities.

This could be after you're promoted as a manager or are now overseeing more people than when you first started. Or, it could come from after you're put in charge of a large project that expands the scope of your previous responsibilities.

Hard-working employees often receive more responsibility, so chances are your boss already views you as a good employee if you're in charge of more people and projects. That's to your advantage when asking for a raise.

How to do it: Bring up your new responsibilities and how you've delivered on all of them. Data is your friend here. Don't just list your new duties; show how you've hit home runs (or at least a few doubles) with each one.

Good time: When you've aced your job and can prove it

Another good time to ask for a raise is when you've been at your job for a while and can prove to your boss that you deliver lots of value.

Maybe you sold more services than anyone else on your sales team over the past year, or you convinced several big clients to stay with your company when they thought about leaving. No matter what your job is, find the hard data that shows your achievements.

If you can show you're increasing revenue for your company, expanding its client list, growing website conversions, etc., then it may be a good time to set up a meeting and ask for a raise.

How to do it: The rule of thumb here is to show, don't tell. Don't just tell your manager everything you've been working on. Show your boss how you've accomplished all your work goals and gone above and beyond.

Pretty good time: When the company is doing well

Even if you have more responsibilities and exceed all of your goals, it's unlikely you'll get a raise if the company doesn't have the money. But if your company just had a fantastic quarter or a good year financially, then it may be a good time to talk with your boss about your pay.

Keep in mind that your main argument for asking for a raise shouldn't be that the company is doing well. You still need to prove why you deserve it. But asking when the company's coffers are full makes it more likely you could see more money in your checking account on payday.

How to do it: Ask for a raise a few months before the fiscal year begins. Even if your company had a good year, asking after the budget is set could derail your chances of getting the raise.

Bad time: When it's crunch time on a big project

Even if you're managing more people, have more responsibilities, and the company is doing well, you should still be cautious with your timing.

For example, if your team or the company is in the middle of a big project or if your team is working hard to launch a new service, it's probably not the right time to ask for a higher salary.

A better approach: Wait until the project finishes or the product has launched and then ask. You don't want to get denied a raise just because your boss was stressed out when you asked them.

Bad time: You just decided it's time for a raise

While it may seem logical to ask for a raise because you've been at the company for years, it's not reason enough to get one.

You might deserve a raise because of your accomplishments, and it's reasonable to expect some sort of pay increase the longer you're at a job. But walking into your boss' office and demanding a pay increase because you've been at your job for a few years isn't the best strategy.

A better approach: Instead, lay out the case for how you've brought value to the company over those years and how your responsibilities have expanded. Give specific examples and evidence to convince your boss that your hard work should be rewarded.

And remember, nearly everyone feels awkward asking for a raise. But choosing the right timing and being prepared with reasons why you deserve it will make the conversation go more smoothly.