Thinking About Asking for a Raise/Promotion? Here's What You Should Know

At some point in your career, you may feel it's time to approach your manager for a raise or advancing your career. As we start the new year now is the time to be thinking about what you expect as the next review cycle approaches.

Having overseen many direct reports throughout my career, I want to share some "behind-the-scenes" insights to help you navigate this process more effectively while understanding the context and dynamics behind these decisions.

1. Timing Is Everything

Understand your company's raise/promotion cycle. Most companies align these with the annual review cycle. Beyond the standard cost-of-living or merit increase (typically a couple of percentage points), larger raises—like market adjustments (aka a raise) or promotions—are often tied to this same timeframe but are accounted for differently.

To set yourself up for success:

• Start the conversation early. Let your manager know your expectations; ideally as you start goal setting for the year and upcoming review cycle.
• Ideally, by review time you have been consistently working toward your objective throughout the year by meeting your goals and expectation requirements.
• Keep in mind that companies typically budget around the review cycle, so asking later in the cycle or after can be challenging, as budgets and other decisions are often already locked in.

Also remember: simply meeting the responsibilities of your job is expected. To be considered for a market adjustment or promotion, you typically need to demonstrate that you've gone above and beyond in multiple core areas.

2. For Market Adjustments (Raise): Do Your Research

If you're seeking a market adjustment (raise), ensure you’ve met the requirements of your role and can show how your efforts add measurable value.

• Compile a list of specific, concrete examples of your contributions and achievements. Solicit feedback from key stakeholders you engage with to solidify your merits.
• Research the market rate for your role in your specific location—compensation often varies by region due to cost of living. Look for salaries for comparable roles with similar responsibilities in your area.
• It is your responsibility to set clear expectations. Leaving it up to your leadership to "do what they can" may unintentionally lead to disappointment.

For example, a $10K adjustment (or slightly more) may be achievable in companies performing well, assuming you have a solid track record. However, if you're significantly underpaid or asking for well above the market average, it may be more of a challenge to get approved.

3. For Promotions: Exceed Expectations

If you’re targeting a promotion, compare your current responsibilities with the expectations of the role you want.

• Be proactive and ask to take on some of these responsibilities. Having regular conversations with your manager helps you stay top of mind and create these opportunities for growth.
• Document examples of how you’ve gone beyond your current job description and are already performing at the next level.
• Maintain a consistent record of your achievements throughout the year to back up your case.
• Openly communicate your career goals with your manager so they can provide guidance and advocate for you when the time comes.

4. The Manager's Perspective

Behind the scenes, there are several steps involved in securing a raise or promotion:

• Your manager will likely need to justify the request to their own manager or leadership team. This is where your documented achievements and stakeholder feedback can make a big difference. Arm your manager with the information they need to advocate for you—don’t place the entire responsibility on them.
• HR will often run market analyses to determine the appropriate salary range for your role or a promotion. Typically, they will want to put you in the average salary range they receive back. Knowing these benchmarks can help you set realistic expectations. If you feel their numbers are inaccurate, consider asking them to validate the parameters they’re using for comparisons. This is a fact based decision they're making not a personal one.
• Raises and promotions may also depend on factors beyond your performance, such as budgets, financial health, or the need for adjustments across the team.

Most managers want to see their employees succeed, but they also operate within these constraints. Being proactive, collaborative, and informed will help ensure your request is met with thoughtful consideration. Even if you don’t get exactly what you want, an organization that is willing to work with you is a positive sign.

5. Setting Realistic Expectations

• For market adjustments: A raise of around 10% is often reasonable for high performers in healthy companies.
• For promotions: A 10–20% salary increase is a typical expectation.
• Understand your local market. Cost of living in different parts of the country will influence salaries so it is not reasonable to expect to be paid like someone living in a high cost area like California or New York when you reside in a lower cost area in Texas.
• Life changes, such as having a baby or moving to a more expensive area, are not valid justifications for a raise/market adjustment. While these are important personal milestones, raises are typically based on the value you bring to the company, not personal circumstances. An exception would be if the company asked you to relocate.

Your situation may vary but the idea is most companies are not going to give you a 50% raise.

6. When It’s Time to Move On

Sometimes, despite your best efforts, staying in your current role may no longer align with your goals. While most managers and organizations value retaining strong talent, there may be situations where moving on makes sense:

• If your priorities include maximizing pay, some companies may not be able to match what other organizations offer, especially in highly competitive fields.
• If you’ve consistently communicated your goals and demonstrated strong performance but don’t see a clear path for advancement, it may be time to explore opportunities that better align with your aspirations.

Leaving a role is never an easy decision, but it’s important to focus on where you can grow, thrive, and contribute meaningfully. Always approach this decision thoughtfully and with professionalism.

7. A Word of Caution

While it might be tempting to leverage a potential departure to secure a pay increase, this approach carries significant risks:

• No Guaranteed Counteroffer: Even if you believe you're indispensable, your employer may choose not to present a counteroffer, leaving you committed to your decision to leave. A recent statistic showed only about 50% of employees receive a counter offer; and most leave anyways within 6 months of accepting it.
• Underlying Issues Remain: A pay increase may not address the core reasons you considered leaving, such as job satisfaction, career progression, or work-life balance.
• Potential Impact on Trust: Accepting a counteroffer can alter the dynamic with your employer, potentially leading to trust issues or doubts about your long-term commitment. It might also hurt your reputation with recruiters and other companies if you were simply using their offer as leverage over your current employer.

Instead of relying on the possibility of a counteroffer, focus on building a compelling case for a raise based on your contributions and value to the organization. This proactive approach is more likely to yield positive and lasting results.

Approaching the process thoughtfully—armed with data and open communication—can make a significant difference in your success.

What strategies have worked for you when asking for a raise or promotion? I'd love to hear your thoughts!