The most important advice for anyone asking for a raise is to know your value.

According to Purchasing magazine:

• Compensation negotiations are like any other negotiation — do your homework.
• Put together a strong business case that shows your contribution to the company's success.
• Make sure that your actions and successes align with the company's goals.

Know the Business Climate
Compare your current salary with that of others who share your job title and location. Use a salary calculator (Examples: Yahoo! HotJobs, Salary.com, CNN/Money)

Know not only the current economic environment, but also what's going on within the company. Common sense tells us not to ask for a raise when the company is in the doldrums or when the boss himself has just been passed over for a raise. Choose the time and place when your boss is most apt to give you a fair hearing.

Back Up Your Request with Hard Proof
You cannot simply walk into your boss' office armed only with your opinions. In the case of asking for a raise, it's "deserve" that matters — not "desire." You need to back it up.

Review your contributions, being as specific as possible in such terms as savings, increased productivity and growth in sales. Have some idea about how your role feeds into the bottom line. Do you attract customers, who in turn spend money? Do you support teams that generate revenue for the company? Do you constantly look for ways to save the company money?

Getting that raise is not simply about how you ask for it — it's about what you have to justify your request. Never try to make a case for a raise on the basis of need.

If it will help your case, bring along a copy of your performance review. If it isn't a particularly great review, be prepared to show how you've shown improvement.

Yahoo! HotJobs suggests the following:

• Provide hard copies of positive correspondence (notes, e-mail messages, etc.) you've received from your supervisor, other employees or customers.

• Provide a list of major assignments on which you've received notable feedback.

Your Goals and Your Company's
Understand your boss' perspective. Organizations can stay in business only by paying people what they contribute to the bottom line. Ask yourself, "Am I contributing toward my employer's goals beyond what is expected from my position?" Have you been filling a more demanding position, which usually pays more money, for a considerable time?

Moreover, notes Yahoo! HotJobs, "Employees will often say, in so many words, that either they get a raise or they will quit.

"If you're just bluffing, be prepared for your supervisor to call your bluff. It happens more often than you might think."

Rather, underscore your loyalty to the organization. Even suggest your potential for even greater contributions based on demonstrated performance. But avoid issuing an ultimatum — unless you're prepared to stand by it.

Also, be prepared for the worst. Think in non-financial terms. If your boss cannot or will not give you a raise, ask for other things such as more vacation time, a laptop or other equipment. And be cool. If you are turned down, stay composed, shake hands and calmly walk away.

Remember: In essence, you are making a sales pitch for a "product" — your service to the organization — to a "buyer" — your boss, who has a limited budget from which to buy answers to a number of highly competitive needs.

If you get the raise, be gracious. Express appreciation (but don't overdo it). And work just as hard, if not more, to prove your boss made the right decision.

**Bonus**

VideoJug: How To Get The Boss To Pay You More Money

Resources

Purchasing Compensation: How to Negotiate a Higher Salary
by Susan Avery
Purchasing, July 14, 2007

How Do I Get a Raise?
by Christopher Jones
Yahoo! HotJobs

Clever Ways to Get a Raise: Perks you Might Not Have Thought About
by Jack Chapman
QuintCareers.com

How to Get a Raise: Stress Value, Not Need
by Ramon Greenwood
Career Know-How

Five Sure Ways to Get a Raise
by Penelope Trunk
Yahoo! Finance (via Brazen Careerist), April 4, 2007

How to Get a Raise
The Consumerist, April 9, 2007