When to Ask for a Raise: 7 Signs It May Be Time

Key Insights:

• Asking for a raise can be stressful. It may be helpful to find the right time, making it easier for your employer to provide a positive response — as long as they are in a financial position to do so.
• Situations in which you may want to ask for a raise include consistently being a high performer, having more job responsibilities than when you started, and having a current pay rate that is less than what others in your position generally earn, even with the same level of education and experience.
• Ultimate Medical Academy's Career Services team is available to our students and grads, providing career-related guidance and support. We also offer access to Connect UMA, an online platform on which you can connect with other alumni, view professional development opportunities, and more.

You've taken steps to better your life and your family's life. You've completed a healthcare career training program, secured a job, and feel confident in your role. There's just one nagging thought at the back of your mind: you're wondering when to ask for a raise.

You don't want to ask too soon and risk offending your employer, but you also don't want to ask too late and leave money on the table. Asking for a raise at any time can be stressful. But finding the right time to make this request may help you get a yes response. When is this?

7 Reasons to Ask for a Raise

Here are seven situations or signs that suggest it might be a good time to make your case for an increase in pay.

#1: Your employer's revenues are increasing

If your employer is struggling to stay afloat financially, your raise request may be hard to grant, no matter how much they value your workplace contributions. Conversely, if the organization is doing well, giving you a pay increase might be easier to achieve.

Some companies post quarterly earnings publicly, allowing you to see whether revenues are increasing, decreasing, or staying the same. Employee newsletters may contain this information as well. If this type of information isn't readily available, the company's actions may provide indicators of its financial health.

If your organization is making plans to expand, for instance, this could signal that it is experiencing growth. But if you've been told to conserve resources and reduce expenses, this might suggest that revenues are going down instead of up.

#2: Your pay is under the current standard

Do others in your same role tend to earn more than you, even if they have the same level of education and experience? If the answer is yes, you may have some leverage when asking for a raise because, if your request isn't granted, you could potentially go elsewhere and do the same job for a higher rate.

One way to determine how your pay stacks up is to look at online pay sites or national websites like the Bureau of Labor Statistics (BLS). Search for your job title to see what you learn. How does your pay compare? Is it close, or do you make substantially less? Use this data to help support your request for a higher wage.

Keep in mind that if you're new to your healthcare role, you may earn less than the average or median pay for that position. The pay rate for your role may also vary based on your level of education, whether you have any professional certifications, and your geographical area. Some online pay information sites offer the ability to learn the average pay for your role by adjusting these additional factors.

#3: More duties have been added to your job role

If your list of job duties has grown since you first entered the role, you could use this to help make the case that your pay should increase as well. While some companies do this automatically, others might not — putting you in a position where you would need to ask for more money based on an increase in responsibility.

In situations such as this, make a list of all the job duties that have been added to your role since you started. Be specific about your expanded job duties versus simply saying that you're doing more.

Again, it may be helpful to do research and find out what others with similar job duties are being paid. This shows your employer that the amount you're requesting is in line with others who have a lot of the same responsibilities.

#4: You're recognized regularly for your performance

Are you constantly being told what a great job you're doing? Do you regularly get positive feedback from management, thanking you for your hard work or congratulating you on your positive outcomes? These are signs that it might be a good time to ask for a higher rate of pay.

Gallup reports that employees who are engaged in their work tend to call in sick less often, have fewer safety incidents, are more productive, and contribute to greater profitability.¹ So, giving you a raise could benefit the employer, too.

When you receive praise at work, make note of it. Take this list of accolades to your employer when asking for a raise to help show the repeated value that you bring to the workplace.

#5: Your annual review was overwhelmingly positive

Some employers only give raises once a year. If this is how your organization operates, a glowing annual review might be a good time to request a pay increase. You may find it easier to convince the company that a raise is in order after your supervisor just got done telling you how wonderful you are and how much they appreciate all you do.

If your employer does semi-annual reviews, this may even be an option then. If you're met with resistance, ask when an appropriate time to ask for a raise would be. You may learn that pay increases are only given at specific intervals, providing more insight into when this question should be on your radar again.

#6: You've been with the company for quite some time

Having a long track record with your employer isn't necessarily a reason to ask for a raise. You also want to show that you're a good employee on top of being loyal. These two factors combined may help support your request for a higher wage.

When an employee leaves, the employer must interview, hire, and train someone to replace them. This can be expensive, especially if the company has a high turnover rate. Staying in your position long-term can save your employer these expenses. Some companies also reward employee loyalty, which you can suggest they do by increasing your income.

As of January 2024, the median time that a wage or salary employee stayed with their employer before moving on was 3.9 years, according to the Bureau of Labor Statistics.²

#7: Another company offered you more pay

Sometimes, leverage for higher pay comes in the form of your employer's competition. Maybe you've applied elsewhere and have been offered a substantial pay increase to make a job switch, yet you'd prefer to stay where you are. Let your employer know that you'd love to remain in your current role if the company could match or come close to the new job offer.

The benefit of this type of situation is that it can help validate your worth. It's one thing to know that you do a good job for your employer, but it is another to know that you are so valuable that another employer wants you, too. This type of situation may also prompt your company to move faster with your raise in an attempt to keep you from leaving.

At the same time, it's important to consider that your company may not be willing or able to give you the salary or hourly rate that you want. Therefore, you may wind up having to decide whether to stay where you are, at your current rate of pay, or if you should move on.

How to Ask for a Raise

If you decide that it's the right time to ask for a raise, here are a few tips to help make this request:

• Do your research. Go into the meeting with numbers, stats, and other solid pieces of information to back up your request. Show that you've done your homework and can quantify the reasons for a higher rate of pay.
• Choose the right day and time. If you approach your manager when they are stressed or busy, you may not receive a favorable response. Instead, time your request when they have a few moments and may be more open to talking and hearing what you have to say.
• Stay positive. Go into your meeting with a negative attitude and this could potentially make it harder to get your raise. Be positive and explain why you want to stay with the company, adding that an increase in pay would help make it possible to do so while still meeting the financial goals you've set for yourself and/or your family.
• Be prepared to negotiate. Your employer may agree that a raise is appropriate, but differ on the amount you should receive. Prepare to negotiate a figure, which can turn the situation into one where you both give a little to get what you want. This can help make it a win-win, which is a good position for you both to be in.

It helps to remember that a pay increase isn't the only way to boost the value your job provides. There are also non-monetary benefits to consider when deciding whether to ask for a raise, such as the number of paid days off you get, whether the employer offers health insurance coverage, schedule flexibility, and more. Sometimes, these “extras” can make up for a slightly lower wage, providing advantages that can help increase your job satisfaction and/or make it easier to juggle home with work, yet have nothing to do with money at all.

UMA Offers Career Support and Guidance

In addition to offering an education in healthcare, Ultimate Medical Academy (UMA) also provides our adult learners with access to career support and guidance — even after graduation.

Some of our healthcare career training programs include a Career Success course, which includes an exploration of job search skills, group dynamics, and workplace behaviors. Information learned in this course can be applied throughout your career in this field.

UMA also gives learners access to a variety of Career Services. Whether you need assistance with your job search, want help transitioning from student to employee, would like to network with other school alumni through our ConnectUMA platform, are interested in professional development opportunities, or something else, our teams can help connect you with the resources available.

Contact us to learn more or to discuss how we may be able to help you reach your career goals.

FAQs

• When should I ask for a raise? If you do research and find that you are paid less than others in your field, even with similar training and experience, it might be a good time to ask for a raise. Other reasons to ask for a raise can include having increased responsibilities at work, being a consistently high performer, and having opportunities with other companies that are willing to pay a higher wage.
• How often should I ask for a raise? Indeed recommends that new employees wait at least six months before asking for a raise, while longer-term employees might want to make this request annually.³
• What's the best day of the week to ask for a raise? Unfortunately, each employer and workplace is different, so there is no single best day of the week to ask for a raise. Instead, strive to approach your supervisor on a day that they may have more time or be more willing to talk about your wages. If they're generally busy on Mondays getting ready for the week, for instance, and Fridays are packed as they prepare to be off for the weekend, a midweek day may be a better time to start the conversation. You can also ask them what day is best. Request some time on their calendar so you're not catching them when they're in the middle of something else, enabling them to give you their full attention.