How do I ask my boss for a pay rise?

Let’s face it, talking about money is tough for most people. 

And asking your boss for a pay rise? That will probably be one of the most nerve-wracking conversations you'll have at work.

Maybe your boss holds power over your role; maybe they’re older and more experienced than you. Either way, the thought of asking for a pay rise can feel intimidating.

But, while it’s nerve-wracking, the more income you have, the easier it is to get your mortgage approved. 

The most common question I hear from people preparing for these conversations is: "Yeah, OK ... but what do I actually say?"

So, in this article we’ll give you steps … a script to follow. That way you’ll be more confident when you ask for that well-deserved raise.

Step #1 – Find out if you are underpaid

You need to walk into the meeting able to justify why you deserve a pay rise, and one of the best ways to justify a raise is by looking at the market salary for your job. {link}

The way to figure out the going rate for your role is to use online websites like: 

• Seek’s Salary Comparison Calculator (my favourite)
• Hays Salary Guide
• Careers.govt.nz (my least favourite)

You can use this to get a sense of what other companies are paying people in similar roles to you. 

These websites and reports will usually give you a salary range/band. After that you can consider your own experience, qualifications and achievements. 

If you have more experience and qualifications, you’ll sit at the top of the band. If you don’t have as much experience, you’ll be at the lower end. 

Now, if your boss asks you about this, you have the information to back it up.

Step #2 – Identify the decision-maker 

Before you set up a meeting with your boss, you need to figure out who has the authority to approve your pay rise.

Sure, your day-to-day manager might oversee your work, but they might not be the final decision-maker.

For example, a mortgage broker at Opes Mortgages might assume Peter Norris is the person to speak to. After all, he’s the managing director and works with advisers every day. 

But it’s Vanessa, our Chief Operating Officer, who handles the budget. So, she’s the decision-maker.

Sure, sometimes the person you can speak to will need approval from someone else, but it’s worth starting by talking to the decision-maker (if you can).

More from Opes:

• The most popular side hustles that actually work in 2025 (NZ)
• Case Study: Mortgage-free at 37 (and on a single income)
• How do banks decide whether to give you a mortgage or not?

Step #3 – Set up a meeting with your boss 

This is not a conversation I usually recommend you have with your boss out of the blue. 

I personally wouldn’t knock on their door and say, "Hey, I want a pay rise."

You'll need to ask for a meeting first; you can either do this in person or by sending them an email.

Your request could look something like this:

"Hi [boss's name],

I’d like to set up a meeting with you to discuss how I'm doing. It’s been a while since we sat down and had a chat. 

I want to make sure I’m meeting your expectations, and talk about some goals I’d like to achieve.

Can I please have 30 minutes in your diary next Tuesday?

Thanks,

[your name]"

Alternatively, if you feel nervous directly asking for a meeting, you can wait until your annual review to bring it up. And if your company doesn’t do regular annual reviews, it’s time to take charge yourself.

Step #4 – Ask for a pay rise

Once you’re in the meeting … your heart will be racing. 

Again, don’t go for the jugular straight away. Don’t dive in head first with: "I was hoping we could talk about my salary. I’ve taken on several new responsibilities over the last year…blah blah blah."

(Very corporate and rigid)

Because pay rises go both ways. You want more money, but what more can your boss expect from you if they pay you more? 

Here’s what I’d say:

"Hi [boss name], the reason I asked for the meeting is to check in to see how am I going, how to get better, and to talk about some of my personal goals. 

Can I start by asking what are some of the things I’m doing well and I should keep doing?"

Let your boss share their thoughts and tell you all the good things you’re doing for the company. That lets them set the positive tone and remind themselves what you’re doing well.

" ... and I know I’m not perfect, and I really want to advance in this company. What are some of the things I could do more of to make the company better?"

Wait and listen for the answer. This will give you good feedback. It also demonstrates you want to do better at your job and help the company. That way they’ll see that you want to be around for longer. 

Now transition into your salary discussion:

"Thanks. I’m gonna take that feedback on board. I’m gonna keep on doing X,Y, Z.

Now, I also wanted to talk about my personal goals. One is to buy an investment property; my mortgage broker mentioned I need to earn an extra $10k to make that happen. 

I’ve looked at the market data, and I think I’m being underpaid by $10k. I can show you that research,but I’m here to ask for a $10k pay rise, because I think that’s fair." 

This approach frames the conversation around your growth and goals, so you’re making it collaborative rather than confrontational.

Then there will be a back and forth between you. The answer won’t always be ‘yes’ but this approach sets you up for a good discussion.

Dos and don’ts of asking for a pay rise

There are a couple of things to keep in mind when you ask for more money.

Do – Pick a good time

Some companies have set times when your pay is reviewed. 

For example, if you work for a bank pay reviews are usually all done once a year. This happens at exactly the same time as budgets are set. Often, you need to have worked for the company for at least 12 months before your pay is reviewed. So, make sure you approach your boss during that window.

Smaller businesses probably won’t have pay reviews that structured. 

You can also choose a moment when you’ve recently completed something impressive; it will boost your confidence and highlight how great you are. 

Do – Ask for a specific number 

I often recommend employees ask for a specific number. In the script above, we say $10k. It might be lower or higher for you. That way you are putting a number in your boss’s mind to tell them what you need. 

If you’re looking to buy a property, your mortgage broker should have told you what you need to earn to make it possible (if they don’t, ask for one). 

Don’t lowball yourself, but don’t overshoot either. You don’t want to ask for something so unrealistic that your boss’s eyebrows hit the roof.

Don’t – Come across as entitled

One mistake I see people make is that they go into a pay negotiation feeling like they are entitled to more money. That approach often turns bosses off, because you’re not entitled to a pay rise. 

You need to negotiate and have a discussion around it. 

If you are worried about rubbing your boss up the wrong way, approach it respectfully.

You want two things out a pay rise discussion.

 No.1: you want more money. No.2: you want to maintain a good working relationship with your boss. 

So, make sure it’s a discussion, rather than a demand. That will likely give you the best result.

OK, but I get so nervous talking to my boss?

It’s completely normal to get nervous when talking about money. 

If you’re worried about rejection, remember the worst thing they can say is "no".

This leaves you in the same position you’re in now. But if you don’t ask, you’ll never know.

I get it; discussing money with your boss can make you feel uncomfortable, but it’s a few moments of discomfort ... for (potentially) significant rewards.

So, take a deep breath, plan your approach, and go for it. You’ve got this.