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4 things this millionaire CEO wishes more employees knew before asking for a raise

By | Kara Goldin |

According to a 2019 report from The Harris Poll, which surveyed nearly 1,000 Americans, 42% of workers said their top career resolution for 2020 is getting a raise. But advocating for yourself and asking for what you deserve can be daunting.

Having started my career as a sales manager to becoming the CEO of a 200-employee company, I’ve been on both sides of the negotiation table. As a leader, my goal is to make sure everyone feels valued and encouraged to go after what they want. But there are smart strategies to approach getting a raise, and few people stop to think things through.

Here are four things employees should keep in mind before asking for more money:

1. There’s a ‘right’ time to ask for a raise.

Timing is everything. Asking during the standard performance review cycle is ideal. By then, the company has pored over its budget and figured out what funds it has to reallocate.

There are, however, some exceptions. Maybe someone on your team just left, and you’ve taken on more responsibility. Or maybe you were being paid under the market rate at a small startup, and they’ve just raised a significant round of funding.

At these times, it makes sense to approach your manager about bumping up your pay.

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