Should You Ask For A Raise?

Andrew Sullivan —  Jan 20 2015 @ 11:24am

dish_raises

Bourree Lam looks at research on who asks for raises – and who’s successful:

A recent study by Payscale surveyed over 30,000 workers about their experiences asking for a raise. They found that 43 percent had asked for one, but only 44 percent of those who asked got the amount they wanted, with 25 percent not getting a raise at all. Among the 57 percent who didn’t ask for a raise, the top reasons were that they got a raise without asking (38 percent) or that they would be uncomfortable asking (28 percent). Only eight percent reported that they were satisfied with their salary. Those surveyed who didn’t ask for a raise tended to be at the lower end of the income spectrum, working in the service or public sectors.

Compared to other workers, CEOs were the most likely to get a raise. That might be because the cost of replacing an employee is about 20 percent of a position’s annual salary—so companies have to expend more resources to replace senior employees than junior ones.