HOW TO GET THAT RAISE

***HOW TO ASK FOR A RAISE IN A BAD ECONOMY***

Do you think you deserve a little more money for a hard day's work? Forty percent of U.S. companies have announced a freeze on pay raises this year, so if you're thinking about asking for a raise, here are eight things to consider . . .

#1.) PERFORMANCE. Think about why you deserve more money, so you'll be able to explain it clearly to your boss. Be ready with examples of how you've helped the company and how you'll do so in the future.

#2.) PAY. Knowing how your salary stacks up to others can help you decide if a raise is warranted. Websites like PayScale.com let you look up salary ranges by job title, experience level, and geographic area.

#3.) SKILL LEVEL. Do you perform at a higher level than coworkers with similar job duties? If so, you have a MUCH better chance of getting a raise. If not, you should probably put in a few extra hours before you ask for more money.

#4.) COMPANY CLIMATE. If your company has announced layoffs, salary freezes, or wage cuts, you CAN still ask for a raise. But if you do, be prepared to show how you make your company stronger and more profitable. If you don't, forget about it.

#5.) TIMING. If you just did something spectacular at work, it might be the perfect time to ask for a raise. If you performance has been GOOD, but not GREAT, you should probably wait until your performance review.

In the meantime, sit down with your boss and ask what you can do to help your company thrive. It's even okay to ask how you can increase your chances of getting a raise in the near future.

#6.) POPPING THE QUESTION. If you DO ask for a raise, focus on selling yourself and your value to the company. Present your case in a humble manner and rehearse what you're going to say before you say it to your boss. And whatever you do, DON'T BEG.

#7.) THINK OF ALTERNATIVES. If a raise is completely out of the question, think of other ways you can be compensated. Your boss might be willing to give you more vacation days, or a better title, which can eventually lead to more money.