You‘ve worked long and hard at your job, and it‘s about time you saw some financial rewards for it. One of our Survival Guide readers asks us how to ask for a raise:

　　Ask for a Raise

　　Dear Sir,

　　I‘m 20 yrs old and making $10 an hour at XXXXX and I‘ve been here for a year. When should I ask for a raise and how can I go about it? Thanks for your help.

　　Sincerely,

　　Underpaid

　　Dear Underpaid,

　　Aside from companies who have policies offering periodic reviews and annual cost of living raises, it is rare for employers to give a pay increase to employees on their own initiative. Some experts feel that moving to another company is the best way to be rewarded for your talents. Others feel winning the lottery is a sure-fire way to increase your income. However, you‘ve invested your time and you really like your job. You just don‘t like the pay (and that guy who always wears bow-ties). No matter how much you deserve a raise, asking for one can be very intimidating. Here are some guidelines to help you get what you want.

　　Know that you are valuable to your company. In order to get that raise, it is your job to figure out just how valuable you are. Ask friends and family members what someone working in a similar position to yours would be paid at their companies. Utilize online resources to find out what someone with your experience is making in your regional location. Headhunters and recruiters who specialize in your field could also be helpful in your research. (Calculate the flux of inflation over the past fifty years by first juxtaposing the GNP of Thailand with . . . maybe not.) But having figures to back up your argument can be a particularly effective tool.

　　Evaluate your job duties. Are your daily responsibilities the same now as when you were hired, or have you taken on a more important role? How have you contributed to the company? Do co-workers awkwardly call you "pal" because they can‘t place your name? Have specific accomplishments ready and don‘t be shy about sharing them. Be ready to show how you‘ve increased profits, sales or efficiency. Remind your employer of the difficult projects you managed and their successful outcomes. If you can‘t think of any, start keeping a weekly log of your accomplishments at work (during your coffee break of course). This will help show how your position has evolved and how you have benefited the company.