Five steps to get that raise

It's also important to know the current economic environment - not only in the national economy but also in the company. "If business is booming, then seeking your fair share of the wealth is understandable," says Mimi Greenberg, president of MRG Associates, an executive search firm in New York City. "But if you're employed by a start-up or a larger company actively looking to slash costs, it may not be a very good time to ask for a bump in your paycheck."

As for the US economy, recent surveys show that after the steady increases in payroll employment, companies are becoming more optimistic about the business outlook. The economy has managed to grow at nearly a 4 percent clip this year despite sharply rising energy costs.

Of course, timing is everything. Seek out the boss a few months before the annual review. If you wait until the annual review, your compensation may have already been decided, and it may be harder to make changes to what's already somewhat set in stone.

Know what you want to say to the boss and practice saying it out loud. Remember, you are selling yourself.

"You need to enter the meeting with confidence, not arrogance, and refrain from making brash demands," says Ramon Greenwood, a senior career counselor at Common Sense At Work, based in Arlington Heights, Ill. "And never try to make a case for a raise on the basis of need. You should make your case based only on what you have contributed toward your employer's goals above and beyond what is expected from your position."

Some of the biggest mistakes you can make include failing to prepare yourself, threatening to leave, and basing your request on personal reasons. "Never whine and don't be unreasonable or act unprofessionally," says Mr. Glassner of Compensation Design Group. Above all, underscore your loyalty to the organization and suggest your potential for even greater contributions based on demonstrated performance.

"I think that part of my success stems from my devotion and loyalty to my boss and my former boss," says Ms. McBride. "The other part stems from my willingness to do whatever is asked of me and doing it with a positive attitude."

According to CareerBuilder.com, one of the largest online job-search websites, less than 1 percent of people who ask for a raise get it right away.

"The meeting may raise your profile with the boss, which can result in a raise later," says Watson Wyatt's Rick Beal. "Take the initiative and ask to meet again in three or six months - or after you've accomplished a certain milestone."

If your boss won't give you a raise, ask for other things such as more vacation time, a laptop computer, or other equipment. If you are turned down, express disappointment, shake hands, and calmly walk away. The composed manner in which you take the rejection may give your boss the impression that you have something else lined up - even if you don't.

If the final answer is "yes," express appreciation, but do not go overboard. Work twice as hard to prove your boss made the right decision. "Start right then and there earning that next raise," says Mr. Greenwood of Common Sense at Work.

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