If you want to set yourself up for financial prosperity, knowing how to properly and professionally ask for a raise is an essential skill. The benefits of an increased annual income include more money to pay off loans, more investing power, and more to put towards savings — to name just a few.

As appealing as these benefits may seem, and despite the fact that 70% of workers who ask for a raise receive one, only 37% of workers actually pop the question, according to a recent PayScale survey. So why the discrepancy? Possible causes are fear of rejection, lack of confidence, or simply uncertainty, especially if it’s your first time asking for a raise.

Whatever the reason may be that’s holding people back, it’s clear that Americans should start negotiating their salaries more frequently and more effectively. This guide from Self Lender walks you through how to successfully ask for a raise — no matter your age or career stage.