How to confidently ask for a raise and get it

Finance coach and advisor Margaret Njeri shares how to prepare for, navigate and ultimately get the raise you’ve earned. From emotional preparation to financial research, you need to approach the conversation with confidence and clarity, ensuring that you’re not just asking for more money but advocating for your true value.

The best time to ask, Margaret notes, is after a successful project or performance review, during budgeting season, or just before your contract ends or an appraisal deadline.

You can prepare for the negotiation in two ways: emotionally, by practising affirmations, mock conversations and visualising a confident outcome; and financially, by reviewing your budget, setting goals and seeing how the raise fits in.

Before the conversation, she recommends checking market rates for similar roles on sites like Glassdoor, Fuzu and BrighterMonday. You should also look into trends in your industry and how your company is performing.

“You can highlight results like, ‘I increased sales by 18 per cent,’ or ‘I managed more clients by 20 per cent,’” she explains.

She also suggests speaking to peers, mentors, or coaches if you’re dealing with impostor syndrome. Write down your wins and remind yourself that you’re not asking for a favour but for fair pay.

During the discussion, frame it as showing your value rather than demanding more. To avoid sounding too forceful, she advises using phrases like “I’d love to work together to find a fair adjustment.”

You could also say, “I’ve been thinking about my growth and the value I bring. Given my recent results in [X, Y, Z], I believe it’s a good time to talk about a compensation adjustment.”

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Suppose you’re told the budget is tight or the timing isn’t right. In that case, Margaret suggests asking about other benefits you could receive for now, like more leave days, flexible hours, a new title, bonuses, training, or travel insurance. Then agree to revisit the raise in three months, based on performance metrics.

Margaret adds that many people fear asking for a raise because they’ve been taught to be agreeable, not assertive. Also, many aren’t sure of their market value or don’t see the full worth of their work. This holds them back. A strong support system can help you speak up with more confidence.

Once you get the raise, she recommends increasing your savings or investments.

“Also, check your budget and try not to raise your spending. Focus on growing your net worth,” she says.