My family wants to go on a vacation right after the holidays. Is it a good time to ask for raise?

When I was a kid, there was a right time and a wrong time to ask for my allowance. Timing was important - ask at a bad time and you never liked the answer. Timing is also important when asking for a raise.

The best time to request a raise is when you merit a raise. The completion of a successful project, bringing in a new client, a positive yearly review or hitting an employment milestone are a few examples.

There are also bad times to ask for a raise. For example, asking for a raise after cutbacks are announced appears tone deaf and self-centered, especially if other employees are losing their jobs.

It is important to consider this - never ask for raise based on your personal needs. Asking for raise so you can go on a dream vacation will not be as well-received as asking for a raise because you have achieved something that reflects your value to your employer.

As for the holidays, it is a busy time. You may not have someone's full attention and usually the budget has been decided which leads to the final takeaway - the absolute best time to ask for raise is before the budget is decided.