5 tips for negotiating a pay raise

Asking your boss for more money can be one of your most uncomfortable moments as an employee.

If you use these five tips, you'll feel confident.

Tip #1: Choose the right time of the day and week.

Forget the beginning of the day because your boss is just getting started and might become agitated if a pay raise proposal is the first thing he or she has to consider.

Also, avoid Friday afternoon.

Like most employees who have weekends off, your boss may be looking ahead to the weekend and not even think about your proposal until the next week, and there's a possibility it will be forgotten.

Tip #2: Come prepared.

David Wood Personal Corporate President Joan Ciferri says you should leave the emotions out of it.

"It needs to be a business case. This is not an emotional situation, this is not personal, this is business," Wood said.

Local CEOs interviewed by phone say they couldn't stand when someone asked for a raise without showing what they've done for the company.

Back up your proposal with specific information of how you increased productivity.

Talk about your accomplishments and research how much people in similar positions are making.

Tip #3: Wait before you ask.

Wait one year at the earliest, unless you've accomplished a gigantic task.

If you think you'll need more money in the first couple of months of a new job, then make that part of the salary negotiations before you start.

Tip #4: Don't use ultimatums.

Another pet peeve of all the CEOs interviewed was getting backed into a corner.

Threatening to leave for a better job without one actually lined up can backfire.

Tip #5: Look at other options.

If your company absolutely can't give you more cash, remember a raise doesn't always have to be about money.

You can also negotiate more vacation time, new equipment, tuition assistance and health care.