Ask An Expert

How do I know if I deserve a raise?

Joann North

Answered By

Kathleen Burns Kingsbury

Money Mindset Coach at KBK Wealth Connection

kbk@breakingmoneysilence.com

Question:

How do I know if I deserve a raise?

Answer:

Many of my coaching clients are uncertain if they deserve a raise or when to increase their fees if they are self-employed. Here are five situations that indicate it’s time to ask for more money.

  1. You have received an award or recognition.
  2. You have been given added responsibilities at work.
  3. The company has done well financially and you were part of its success.
  4. You developed new skills or received advanced education.
  5. You celebrated a work anniversary.

Don’t be shy in identifying and communicating your value to the firm. Be proactive by planting seeds with your leader that a milestone is coming up and how that accomplishment makes you a greater asset to the company. If self-employed, evaluate your fees periodically, and don’t forget to give yourself a bonus for a job well done!