Asking for a Raise

I finally did it. I asked for my the first raise of my career. I've been building up the courage to do this for months now. I know that I'm worth more than I'm currently making. However, as my first professional position its much more than I've ever made before and I love my job. That made it difficult for me to justify asking. But as I struggle to make progress on my college debt, I convince myself that it couldn't hurt to ask. Today the timing felt right.

Why now?

• I've hear positive feedback on my recent work.
  Always work hard, but it seems like the best time to ask for a raise it when people start noticing that the work is good. I've heard positive feedback from several sources including the VP of the company. Thats a good sign that the time is right.
• Six months in my position.
  I've been around long enough for people to see my potential. I didn't really get an opportunity to negotiate my starting salary in the first place. Six months later I have made significant progress in my work and taken on optional tasks that are good for the company... all while feeling a little underpaid. If thats not dedication I don't know what is.
  
• I have spent time getting comfortable with upper management.
  By going to casual lunches with groups of co-workers including my company's VP, I became very comfortable talking to upper management. Not to say my heart wasn't pounding when I asked. Believe me, I was nervous. But things flowed much more naturally than they would have if I felt like I was talking to a stranger.
  
• My budget is getting stretched to the limits.
  You've probably noticed that I'm in a bind trying to get out of debt asap. I cannot possibly dedicate enough time in a second job to make it happen while I'm trying to have a successful career. Raising my wage will make me happier, more productive and will relieve a lot of the outside of work pressure. Really, its win-win. I don't expect this raise to put an extra $400 into my budget each month, so I'll still be makin' money on the side. But honestly, I'm expecting a pretty good chunk of that to be covered each month. That will let me enjoy my second job as more of a pastime than an obligation.
  

How did I approach it?

• I was very straightforward.
  I made sure that I wasn't interrupting anything. Then I got straight to the point. I'm ready to renegotiate my starting salary.
  
• I was not demanding.
  There was no ultimatum. I didn't threaten to quit. I simply listed some of the positive aspects of my work and the reasons I would like to stay with the company.
• I highlighted my unique assets.
  There are a couple of people in my department. The others are much more experienced than I am. However, I have a creative outlook. It really creates a great dynamic to have me as part of the team. Not to mention, fresh out of college, I have the most academically minded perspective of the group. Thats a bonus in research and development.
• I gave a number.
  I did my homework. I determined the average salary for someone in my position with my experience. Even though I was asking for more than a 10% raise, I had something to back it up.
  
• I didn't mention my bills.
  I wanted to leave a good impression. I don't want or expect my boss to feel sorry for me.

At this point I don't know for certain that I got the raise, but I got a very positive feeling from the initial conversation. I'll update when I know for sure!

Update: I got my raise! See the new post for details :)

ALSO. See a post from Money and Such for a manager's perspective of How NOT to ask for a Raise. Hey, this made me happy to say that I can accurately see the situation from anothers point of veiw!

Thanks to the Frugal Trader at Million Dollar Journey for including this post in the Carnival of Personal Finance! There are a lot of good reads, check it out.