In the majority of cases, asking for a raise every year is totally reasonable. Of course the way you ask, how you justify it, your level of expectations, and the health of the business should be carefully considered. Setting and achieving specific goals gives you a powerful argument, as can making a financial case for your worth, as well as having an understanding of how much people in similar positions earn. We hope our Salary Survey can be one potential tool to measure your income against your peers.
This year in our survey, we asked about increase in salary over the year before. It is worth noting that there seems to be a real discrepancy with regards to gender. The percentage of respondents who made less and same is virtually identical, but look how much difference there is between people reporting a 1-4% increase and 10% plus!
Many studies over the years have suggested that men are significantly more likely to ask for a raise than women, and that could be one element in the wage gap. Carnegie Mellon University economics professor and co-author of Women Don’t Ask Linda Babcock claims that "Men are four times more likely than women to ask for a raise." Several media outlets such as The New York Post published articles about a recent study from Australia that came to a different conclusion, although that conclusion has been criticized as misleading. While debating these studies and the complex nature of these topics is probably beyond the scope of GuildSomm, I would make the suggestion that all of us act as advocates for ourselves. In short... if you haven't had a raise in the last year, it's probably time to ask.
Remember, folks, inflation is approximately 2-2.5% a year!