Hi Everyone,
I wanted to start a more current thread on how to approach asking for a raise, specifically relating to RE.
I’ve read through the threads on this website, as well as some of the generic information on Google. The issue is that a lot of the results seem to conflict.
Can anyone speak to real-world examples from the perspective of asking for a raise? Or, potentially even more valuable, can someone speak to having an employee ask for a raise and how you evaluated how to respond?
I understand the market is tough right now, but I assume the general principles still stand.
First, you need to gather as much data as possible. This is everything from pulling info from public websites to asking friends in the industry. Is there anyone else at a similar level to you in the firm? Second, how you approach your bosses are really important too as naturally this will be a point of contention. How have you been performing lately? Do you think you will be promoted soon?
Agreed with all of this. Great post.
Just want to add that it very much helps to broach the subject when your boss has had a few wins and is in a good mood. That might be harder to come by in this market, but if you start the conversation when the boss is stressed out of their mind, you aren’t starting from zero, in their mind. In that scenario, they’re already stressed and you’re just adding one thing to the list.
Hit them up at a happy time though, and you’re on more even ground.
All great advice above. Also, be cognizant of the current environment. Asking for a raise in 2021 is different story than now. Not saying not to do it, but just be aware.
Just saying “I need a 20% raise or I tell the whole firm what you did” and leaving the room before your boss can respond works for me every time. Most effective when I’m wearing a $2,000 suit with a briefcase in one hand and a $15 breakfast sandwich in the other.
My firm is now being renamed for the 15th time this year to fit my comically long last name. Never hurts to ask.
Tell them your buddy at KKR cleared $350k last year and you're jealous
Speaking from experience here.
I continuously received inbounds from recruiters in my market with opportunities that had significantly higher comp than my own. Without fully going down the road with anyone, I approached my boss and told him that I was serious about my future with our team and had no intention of leaving, but that firms were approaching me and quoting a market value that was hard to ignore.
I’d recommend connecting with headhunters in your market and learning about comp for roles in your weight class.
It would be hollow leverage if you said “give me a raise or I’m out” without actually having an offer, but by expressing gratitude/commitment and simultaneously presenting the facts, it increases willingness to play ball if you think they want to keep you around long-term.
Thank you, this seems like the best approach.
I recommend talking to the most active recruiters in your field. they are like brokers and love talking. you can share a bit about yourself, your experience etc and where you are on comp and ask them if they think its market or not. also get an idea of who is hiring. this is good data for your employer if you are under market for the role. you have to level set for the actual role though. titles do not matter.
“Empire, knowing your generosity is boundless, I humbly request to be ascended to become an earl”
Have you generated significantly more in fees/revenue for the firm than your comp? Unless you can point to data, it would be hard to justify right now.
In 2026 real estate, staying employed is the new raise.
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