In an economy like this, you probably feel lucky just to have a job … let alone feel like you’re in a position to ask for more money. But the reality is, you are providing an important service (through time, expertise and labor) for your company and you deserve to be compensated fairly. Now, if your company is losing money hand over fist or you haven’t actually been performing the job you were hired to do, then maybe now isn’t the best time to demand a raise. But if you really feel it’s deserved, there is a fair, reasonable way to ask for the compensation you deserve.

Find out how much other employees in your position are earning. Determine your value by browsing the salaries of comparable positions in your area. Come to your employer with concrete examples of competitive salaries and a tangible, reasonable amount that you deserve to be earning.

Determine how much you can earn. If a competitive salary for your position applies to employees with 10 years experience and you only have 2? You may not be able to leverage your amazing skills as much as you’d hoped. You’re worth it, but you also have to pay your dues.

Make sure that people know your value. Display a helpful, flexible, initiative-taking attitude and it will be noticed. Don’t wait until you go in to ask for a raise to point out all the good you do the company … make sure your boss already knows.

Ask. You’ll never receive anything you’re too afraid to ask for. Schedule a meeting with your supervisor, and begin the conversation with a confident, respectful phrase like: “I’d like to talk to you about a salary adjustment.”

Remind your manager of the strong contributions you’ve made. Stay away from mentioning financial hardship, unfair comparisons and pity parties. Show your employer the ways that you have helped to earn or save the company money.

Don’t give ultimatums. Especially if you’re not prepared to follow through. They come across as manipulative and immature, and your manager just might take you up on your offer to take a position at a (fictitious) company that is willing to offer you more money.

Overall, keep your approach confident, level-headed, and be prepared to back your request for a raise with concrete numbers and reasons why you deserve what you’re asking for. If your request happens to be rejected this time, don’t pout. Instead, see if your employer is willing to meet you in the middle with some non-salary perks like a few extra vacation days.

If all else fails, research some more job training that would put you a little more ahead of everyone else!

What are some ideas that worked for you the first time you asked for a raise?