Want more money than you’re currently making? Planning and preparation are key when you ask for a raise. So are timing, your employer’s pay practices, and the market-based pay rates for your job. We show you how to prepare for that important question
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Familiarize yourself with your employer’s pay practices
If the standard practice is to offer salary increases once a year after an annual review, you are unlikely to receive a raise at any other time.
If your company offers more frequent increases, you’ll have more luck asking for a pay raise. Listen to your employer. If the employer announces that the pay raises will be four percent across the board, you are unlikely to negotiate more money. But don’t despair yet . . .