I can identify with you! Here's some advice that I've learned from personal experience.
-> Bring facts and figures for your performance
-> Get someone higher-up to put in a good word for you
-> Prepare yourself for tough responses that your boss is going to use, such as:
-----> "Well, everyone in the company would like to make more money."
-----> "Times are tight and the company cannot afford to give raises this year."
-> If the boss says that you'll get your raise, try to get it in writing. I had the boss say that a certain amount sounded reasonable, only to have the statement rescinded when we later discussed matters formally.
-> Try to remain objective and rational, without pointing fingers
-> Do not say things like "Well I'll quit if I don't get this", because they just might call you on it. If it turns out you were bluffing then they may not take you seriously when you ask for your raise next year.
I made many mistakes when discussing my raise. It went something like this:
Boss: What would you like for a raise?
Me: I would like 20%.
Boss: That's a little high. Our top performers get 10% if they're lucky. You know the company lost money last quarter, and some people are even foregoing their raises." (guilt trip)
Me: I started when salaries were low. I would like to make more money this year than the new hires do.
Boss: That's a good point, but ... [insert empty words]. I'd really like to pay you that much. [more empty words]
Me: (Angry) This feels like a real slap in the face. Why don't you just tell me to **** off?
My mistakes included:
-> Not bringing facts and figures to back up my performance
-> Not being prepared to argue against the auto-responses that the boss used
-> Pointing fingers (Soandso makes 30% more than I do, and I do twice the work...)
-> Getting angry and swearing :-)
A few weeks later a colleague put in a good word about my performance (without me asking, but he had probably heard me complaining). I eventually got my raise, but I'm still a little bitter about the whole situation nearly a year later. The biggest lesson I learned was that even though my boss and I had always been on friendly terms, he still tried to sell me short in the end. Go in expecting this. Be prepared.
I wish you luck!! 
EvilCats
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Re: Asking for a raise....
