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Tips from Barbara Corcoran on Asking for a Raise

If you’re contemplating a conversation about a salary increase, Barbara Corcoran, a prominent investor from “Shark Tank,” offers valuable insights based on her extensive experience in business. She emphasizes that preparation and specificity are crucial to successfully negotiating a raise.

At 76 years old, Corcoran recently shared advice through an Instagram video, outlining key strategies to consider before approaching a supervisor regarding salary adjustments. As the founder of The Corcoran Group, which she sold for approximately $70 million in 2001, Corcoran directed a large team of brokers, giving her firsthand experience in managing personnel and understanding their value.

Corcoran’s first piece of advice is to compile two lists: one that outlines all responsibilities associated with your job title, and another that details the actual tasks you are currently performing. This exercise helps illustrate to your manager where you not only meet but exceed your job expectations, facilitating a clear discussion about your contributions.

In addition to demonstrating your value, Corcoran highlights the importance of being specific in your request for a raise. Instead of vaguely asking for a raise, she suggests stating a precise percentage or dollar amount. For instance, saying “I want a 10% raise” is more effective than simply expressing a desire for more money. She mentions, “You’re in a much better negotiation position to maybe get 8%.”

Corcoran is proud of her leadership style, which prioritizes the well-being and development of her employees. In her previous posts, she has reiterated her commitment to serving her staff effectively.

Financially, Corcoran has reaped the rewards of her strategic investments, reportedly earning approximately $4.5 million annually from her various deals, including over 650 deals made on “Shark Tank”, where she has been a part of the cast for 16 years.

While a well-prepared pitch can increase the likelihood of a raise, the outcome can vary widely based on company policies and annual practices. According to Payscale’s 2025 Compensation Best Practices Report, different sectors anticipate varying increases; engineering and science firms project raises of 4.6%, whereas nonprofit organizations and educational institutions aim for a median increase of 3%.

Furthermore, a survey conducted by The Conference Board found that the average salary raise in the U.S. stands at around 4%. The U.S. Bureau of Labor Statistics also reported an average salary increase of 3.8% for civilian employees over the previous year.

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