YouTube video by Alli Peck (Ali from Corporate) giving actionable career-advice on how to ask for a raise. The presenter outlines three preparatory steps: (1) learn your company’s budget cycle to time the request, (2) prepare a one-page document listing skills, measurable impact, and contribution (include specific numbers where possible), and (3) notify your manager in advance (email or in a 1:1) so they aren’t surprised. The video also provides a short script to use in the meeting and practical tips on follow-up.
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What's up YouTube family? I am Alison Peck, aka Ali from Corporate. My channel, as you know, is dedicated to helping you develop your career and be impressive at work. Today's video is going to be about how to ask for a raise. A lot of people say we're heading into a recession right now and it could not be a better time for you to be making more money at work. So I'm going to help you today. Disclaimer I have not worked in hr. I have never been a recruiter. The advice I'm giving you is not coming from that standpoint. It's coming from job seekers standpoint. It's coming from an employee's perspective. So let's get into the video. So you want to ask your boss for a raise. There are three very important things you need to do before you ask that will increase their chances of saying hell yeah. So the first one, you need to find out your company's budget cycle. It's not very wise to go and ask your boss for a raise at any point in the fiscal or calendar year. Companies often have a budget cycle where they have four quarters in the year and they often have different types of financial deliverables or financial agendas. During those quarters. You can easily ask somebody in HR at your company or you can even ask your manager what the typical budget cycle is. If I were to ask for a raise, when would be the best time of the year to do it? So that's my first tip for you. My second tip requires a bit more work on your part. I never advise people to ask for a raise because of inflation, because of the economy, or because their co workers are making more than them. I do advise people to ask for a raise based on the skills they've gained, the money they've helped the company make or save, the goals they've helped the company reach, the impact they've had of the company. Things to that effect. When you ask your boss for more money, you want to make sure he understands the value you're bringing to his team, his department, the company as a whole. So the second thing I want you to do is make a document that lists out all of those things. And it doesn't have to be all of them, but it needs to be some of them. You must have gained some skills since your last raise or since you were hired. You must have helped the company reach some goals. List out what they are. Maybe you're in sales and you've helped your company make millions of dollars. Dollars. List that number. Find out what it is so you're going to make a bullet pointed list of all of those things. You're going to print it out, make two copies. One is for you, one is for your manager. Now that we know when the budget cycle is and when the best time to ask for raise at work is, and we have our supporting documentation that helps our argument, the third thing we're going to do is we're going to let our boss know about this conversation before we have it. Now, I always say that an employee's number one job is to help their boss look good. Another way of saying that is help your boss avoid surprises. What I want you to say to them, and this can be an email, you can say in our next one on one conversation or in our next meeting, I would like to discuss an increase in my compensation. That way it'll give them a heads up and they'll be mentally prepared for the conversation. The last thing you want to do is catch them off guard, especially with you asking for more money. Because remember, we're trying to increase your chances of them saying hell yeah, not decrease them. So you found out your company's raise budget cycle, you've made this supporting document and you have a meeting with your manager. You're going to walk in, you're going to be confident and you're going to slide that piece of paper over on the table and you're going to say this. Hey boss, you know I love working for your team. I've gained a lot of skills and experience in the last year and a half and I know I've brought the company a lot of value. In fact, I've written down just how much value I've brought this company on. This document right here and this is your copy. You can have it. In terms of specific numbers, I currently make this and I'm looking to make this much. Are you open to talking about this now that you've said those words? Sit back, take a deep breath, relax and just listen to what they have to say. If they want to say no immediately, you can say, hey, take all the time you need to decide. You don't have to answer today. Why don't you sleep on it? Now, I want to note that you have actually helped them get to yes by giving them that supporting document. Because what are they going to do with it? If they want to say yes, they're going to take that document to HR or Finance or maybe their manager or maybe the CEO and they're going to vouch for you. You have given him all the supporting evidence that he needs in order to get a yes from his superiors. Those were the three things that you should do before asking your boss for a raise. And I don't know if you caught it, but I gave you a free script on exactly what you can say in that meeting. Good luck. Remember to like and subscribe. And don't forget to tune in for next time with more career development tips from Alief.
