Your Pay: Is January the Right Time for an Increase?

January is a popular time to iron out your new career goals.  A lot of people dream of promotions, big projects, and even bigger paydays.  Even if you love what you do, one of the main reasons you show up every day is to get paid.  And if you got paid a little more, it wouldn’t hurt.  The start of the year seems like a great time to talk about your pay.  The bosses are refreshed from the winter break.  The new budget has just been handed down.  Surely, there’s some loose change they can slide your way, right?

Promotional activity is high

increased pay over time
Credit: CC0 Public Domain

You might not get a raise just because you ask, but if you’re close to a promotion, January is the time of year it’s most likely to happen.  TIME reports that the greatest amount of promotional activity occurs during this month.  Your persuasion may not have an impact on the powers that be.  But an awesome performance from the previous year just might.  Add to that a healthy job market and the odds are truly in your favor.