How To Ask For A Raise!

Most of us cringe at the idea of discussing how much money we make, so asking for a raise can be tough. Here's how to get started.

Two Cents on Twitter: @twocentspbs

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Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.

Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson
Directors: Katie Graham & Andrew Matthews
Written by: Julia Lorenz-Olson and Andrew Matthews
Produced by: Katie Graham & Amanda Fox
Images by: Shutterstock
Music by: APM

SOURCES:

[appleton]

"If you don't ask, the answer is always 'no'."

That's so true.

[hollywatt]

I asked in my previous job after working for them for five years. Answer was no, my answer to their answer was I gotta go. I landed a job that pays more than double and I’m travelling the world for work.
As Long as you think you are ready for a pay raise or promotion, just ask. Your deserve what you deserve. :)

[lagflag]

"My rent went up" is a bad argument, but "inflation" went up is not. I expect my salary to be on bar with at least the inflation, otherwise the company is paying me in real terms less than what I had agreed to when I first got hired

[monstermushmush]

Thanks. I'm only 15 and learning so much from this channel!

[Luxyglamlife]

I was just thinking about this literally 2 minutes ago before I went on my 15 minute break. Decided to see what was going on, on YouTube and bam got this on my feed . I guess 2 cents read minds now 😱

[MohamedMohamed-srdq]

I remember when asking my boss about working remotely for an hour or two since I was working part-time while attending college. I got a BIG no. Then the pandemic came along, and lo and behold, I was working remotely and doing school at the same time. Sometimes what you ask comes out in a different style

[RangerRuby]

Even though I am too young for most of these tips and videos, I still come back every week! Maybe, by the time I am old enough, I will be ahead of the game and prepaird for some of the things life throws at me! Thanks Two Cents and Happy New Years!

[omarrp]

People being so secretive about their pay is ridiculous. Even in my career field, were I can literally look up someone's salary, people are secretive. Not only do I tell people, I tell them where they can look it up.

[forestflower]

Not old enough for a job yet but I can't get enough of Two Cents! I hope to use your economic advice when I'm financially independent in the future :)

[waffles_]

I asked my boss for a raise when we were discussing my yearly increase. I felt justified being paid more as I was running 2 or 3 machines and helping everyone out with their problems. But I was told, "you're only paid to run 1 machine." At that point I stopped trying as hard thus losing the company more money than if they had just increased my wages secretly by a dollar an hour.

[averagecitizen]

Can't spell 2019 without 2, happy new year to the mustache !

[alex]

Her palms are sweaty, knees weak, arms are heavy

[jaypence]

I always ask for 7% or bring in other comparable job offers. If they say no; start applying. In this job market there or so many opportunities why waste it earning less. Plus as a mechanic switching garages only increases your knowledge. Which increases your value. Being versatile and working on many make and models plus the experience of working in different shop environment means you have a lot more to offer when applying to other jobs.

[villafontananorte]

Ask yourself this: How much value does your knowledge and dedication cost? My supervisor has asked me to learn a job that is way harder than my current job but those people make $2.50 more an hour than me. So I told him: well, if I learn that job, would you increase my pay rate to $20 an hour. He said no because you won't be full time in that position. You will be covering people while they are on vacation. So I told him no. He asked me why. I told him because the more I learn, the more valuable I am for your department, so I won't give away my labor just to be nice. More headaches, more money.

[babyloniandude]

The best time to negotiate your salary is during the interview or before you get the job, if you missed that it would be difficult to get a pay raise.. otherwise it could be better to change the company, most likely you will get better salary and a better position than begging your current boss for a salary increase

[jamescotter]

Always be an advocate for yourself, because no one else will.

[ritzkola]

*I love how diverse the animated People are in these videos.* 👏🏿

[CaseyPlexy]

Ask yourself if you really deserve one. I had to ask twice and the second time was essentially and ultimatum. Only worked because I’m a golden boy. Never late, work extremely long hard hours and have a good attitude. I wouldn’t even think about asking unless you have those traits.

[muhammadfaheem]

Wow! My current goal is to have a dinner and long lasting conversation with Two Cents!

[danycashking]

i'm so glad you guys brought up alternatives to salary, most people never consider that, you have no idea how much money a company car for example can save you in expenses, no road taxes, no upfront investment, no responsibility for maintenance or unexpected breakdowns, and especially no administrative burden for you to keep up with.