A: Yes, this is a good time to try to see what you can do in terms of a raise. You should make sure you have documented your performance so that you can illustrate what you have accomplished. Often a boss will not know all of the things you are working on and how successful you have been on all those initiatives.
Also, you should look at salary data to see what your job would be worth in the external market. You can review sites such as careerbuilder.com, salary.com,glassdoor.com, payscale.com. The goal is to see what you are worth on the market so that you have some research regarding what you should be making.
Another important thing to think about is your BATNA — your Best Alternative to a Negotiated Agreement. In other words, what will you do if you do not get the raise you desire? Think about your BATNA. Is it attractive? Have you looked at other opportunities just to see what you are worth on the market? Even if you like your company, sometimes having other offers from competing firms enables you to get a larger increase (raise). Of course, it is best not to threaten your employer with this. It is just important for you to at least know what you are worth in the market.
Russell is the vice dean of the University of Maryland's Robert H. Smith School of Business and the director of the Executive Coaching and Leadership Development Programs offered by the school. She is a licensed industrial and organizational psychologist and has more than 25 years of experience coaching executives and consulting on leadership, negotiations, and career management.