When Is a Good Time to Ask For a Raise?

Asking for a raise can make most people very anxious. Learning the right and wrong times to ask for one can help cut the anxiety level in half. A lot of people are afraid to ask for raise in fear they may be fired or let go just for asking for an increase in pay. Truth is, if your boss lets you go for asking for a raise, chances are that is not the real reason he/she is letting you go. More than likely you don't deserve the raise and asking for one has just set your boss off, because of your audacity.
A couple of good times to ask for a raise are when you have done something good on the job. Hopefully you are already doing a great job. Coming in to work on time or early, not taking too much time off and performing well are just few examples. Let's say you saved your company a lot of money by finding a better, cheaper place to purchase office supplies, or you cinched the big million dollar deal. I think your boss will be thinking highly of you and be willing to increase your pay.
Another instant that would be a great time to ask for a raise is when you know you have consistently done an awesome job. If you are always going above and beyond the call of duty, coming in under budget or what ever the case may be pertaining to your job. Your employer sees and hears a lot more than what you give them credit for, therefore they know what kind of job you are doing, whether it be good or bad.
These are some scenarios when it probably wouldn't be a good idea to ask your boss for that elusive raise. If you haven't been on the job for at least a year, you should not be asking for an increase in pay. You should have already negotiated your salary when you were hired. Being on the job less than a year is not a good time to be renegotiating more money. Wait a while.
If you know you haven't been performing well for whatever reason, you should not be asking for a raise. That would be one of those times you might be let go for doing such. Also if you know the company you are working for is struggling financially, it would not be a good idea to ask for an increment in pay. They basically wont be able to afford to, no matter how good of an employee you are. Make sure your boss is in a good mood. If you know he/she is stressing out or maybe having problems at home, you might want to hold off on asking for more money.
Just use your common sense on when you should ask for a raise. You will pretty much know how well you are doing and the financial stability of your company to know when the best time would be to get that little extra in your bank account.