We read, see and hear it day in and day out. Its the statistic de jour  that over 10% of the population is unemployed and although I hate to be the one spreading bad news, the real number is much higher.  This is because the official statistic does not include something no one seems to be mentioning: the underemployed.  These are the people who have taken jobs that pay much less than their previous positions but are still working. Or, they have had their salaries scaled-back, bonuses cut and incomes slashed, just to stay on board with the company. Often times, these same people take two jobs (or more) to try and make ends meet and are still earning less than they once did - often not even enough to keep their heads above water.

For example, let’s say a mortgage broker was making $100,000 per year before disaster struck and the market fell out.  Those same skills are hard to translate into a similar career, if not impossible.  So now, our former broker goes to work making deliveries for a courier service earning $25,000 per year and to make up some of the lost income, takes a second job working the graveyard shift at a convenience store for another $20,000 and the two jobs combined are less than half of what they made before.  So technically, someone in this position is not unemployed but the reality is that because they cannot make ends meet with their current income, for all intent and purposes, they  are.

So , with the underemployed struggling to make ends meet, the employed, many of whom have had to go without this year and employers who are forced to make cuts left and right, how are you supposed to negotiate the rough waters of not just keeping your job, but actually asking for a raise to boot? Is it really a safe idea to ask for more money right now? Or, could asking for a review of your compensation actually solidify your position within the company? The answer might surprise you.

The truth is, if you happen to be employed, the likelihood of asking for a raise this year will be slim to none.  At the very same time, job seekers or those reentering the work force, will probably accept any salary they are offered, so as not to seem greedy or even ungrateful. However, even in the face of tightening budgets, many employees can obtain raises or negotiate their salary above an initial offer,  because not all compensation comes in the form of a big paycheck.  Asking for a review can   There are many types of benefits your employer may be willing to offer that will allow them to not only retain a valuable employee, but help to maintain their bottom line.

First, you need to know where to start. At websites like Payscale.com, the "Salary Calculation" tool can provide you with compensation  guidelines for your sector and your city. Your competence and work ethic are simply not enough anymore to land a raise or higher starting salary during a recession. You need to do your homework and come prepared. Part of your “job” when negotiating your salary is to convince your employer that you have value to the company and that you could not be easily replaced by someone else.  One of the greatest ways to segue into a discussion about your salary, is to use an employee review as  leverage. You risk appearing out of touch with the issues your company faces or even insensitive to its situation if you come right out and ask for a raise. Employers  often feel blindsided or worse, your boss may feel like you are giving them an ultimatum – which was likely the opposite of your intentions.

Instead, approach your boss and ask for an opportunity to discuss your recent job performance, expectations for the coming months and the goals you have for the office (on or around an annual review is best). Ideally, you should schedule this discussion for shortly after you accomplish something that clearly brings value to the company. During this meeting, discuss how you improve the company’s bottom line. Prepare a sheet summarizing your major accomplishments. All of the goals you have reached over the last year, or improvements you’ve made both to the company or even professionally can help to substantiate your request for a review. Once you have highlighted your value (your productivity is higher than the company average, you have repeatedly found ways to cut corporate expenses or you have the skills and background to fill multiple roles), comfortably and confidently transition into a discussion about your salary.

After making your case, sometimes all that’s left is for your boss to give you the bad news: the company cannot afford to give raises this year. If your company is struggling, don’t wait for your boss to tell you that a raise isn’t possible. Explain at the beginning of your review that you’re willing to explore alternative forms of compensation. This will send a message to your boss that not only are you innovative and flexible, but that you are also looking out for the company’s interests during these difficult times.  Consider negotiating a bonus that is paid in the company’s following  fiscal year, when there might be more room in the budget. You can also come to an agreement on a “TBD” raise, this is a raise that begins at a pre-determined date in the future, assuming your performance goals are met. Try negotiating extra vacation time (think five extra days a year, at one week’s pay, divided out over the year = a reasonable request)  or a more flexible work schedule. To keep expenses low, offer to telecommute or do a four-ten work week . Request a company cell phone, laptop, or a better office space. You can even negotiate a higher-ranking job title or coveted assignments. All are reasonable requests, and should be taken into serious consideration by your boss or company.

The reality remains, that unless employees take action about their compensation, the avoiding or forgoing of raises will become more common and the economic fallout worse, as inflation rises, medical coverage increases and salaries do not grow to meet market conditions.  What this means is that you need to take matters into your own hands.  Things to consider besides a raise, should you be turned down on all fronts, are to seek further education, to retrain in a new field where there are better jobs, or to even start your own business. While money isn’t everything, there are certainly needs that employers need to understand and if one, two  or no job happens to be in your future, now may be a good time to consider the alternatives.