271| When Companies Actually Do Raises
Picking up from yesterday's breakdown of merit increases, promotions, and market adjustments, Nichole dives into timing, specifically why companies budget for raises in advance and why that changes when you should ask. In this episode: Why most companies operate on a budget cycle, and why raises are often planned for months before you ever ask A note on startup flexibility versus more structured companies when it comes to advocating for a raise How annual budgets and fiscal years shape when raise money actually becomes available Why performance review season matters so much, and how asking right before versus right after that cycle can lead to very different outcomes How to find out your company's specific timing by asking directly, or by reflecting on past raise patterns if you've been there over a year A personal story from Nichole's time as a manager, discovering a wide, unfair pay gap among team members who'd gone years without a raise, and working to rightsize their pay Why advocating for yourself doesn't have to feel awkward or uncomfortable Today's task: find or estimate your company's raise or review cycle timing, and write it down A reminder that this isn't about waiting until the "right" time to have the conversation at all, it's about starting the conversation now, even if the actual raise comes later Download the 7 Days to Ask for a Raise Challenge to help you confidently ask for a raise here. Connect with Nichole on Instagram @nichole.harrop
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