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When Should Employees Ask for a Raise?

Feel like you deserve a bigger piece of the pie at work? Keep the champagne on ice—you might need to wait until the new year.
 

We took a close look at compensation changes across the 1,000+ mid-sized companies that use Namely. We found that 37 percent of all compensation changes were processed in January. Ranking in at a distant second and third place, October and February accounted for 12 and 11 percent, respectively.
 

You can see our full month-by-month breakdown below. Keep in mind that this data looks at salaried employees only and does not include bonuses or other supplemental wages.

Salary Increases by Month


Month Frequency
January
37%
February

11%
March

3%
April

1%

May

< 1%

June


< 1%

July

5%

August


10%

September


9%

October


12%

November


7%

December


6%

January taking the top spot shouldn’t come as a total surprise to HR and compensation professionals. In addition to giving workers a fresh start for payroll and tax purposes, the timing also aligns well with when performance reviews most often happen. Because individuals’ goals are often tied to the calendar year, reviewing their results immediately in the new year keeps them top of mind.
 

So who knows? By the end of this year, maybe you’ll have a few extra reasons for some holiday cheer.

Whether you’re at the dinner table or in the boardroom, talking about money can be a challenge—especially when one party wants more of it. To make these awkward conversations feel natural, watch our free webinar, Demystifying Employee Compensation, from Offer to Promotion.

Topics: Talent, HR Data

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