NEW YORK (CNNMoney.com) -- Median income for working age households fell a half percent last year, according to the Economic Policy Institute, which means getting a raise is about as hard as it's ever been.

Maybe you're paying tuition, or your rent's through the roof, or you've been busting your tail at work and your friend just got a raise. So how do you get yours?

If you're trying to boost your compensation remember this cliché: "The squeaky wheel gets the grease" - the most important step in getting a raise is asking for one.

But before you do-here are some things to keep in mind.

Basic things like punctuality, attitude and professionalism won't be enough to score a raise, but not having them definitely will be a road block.

Clarify expectations - you need to be on the same page with your boss about exactly what is expected of you and how your success or failure will be measured. Make sure you've asked for feedback on your performance long before you ask for a raise. And above all listen to that feedback!

It's also a good idea to look at average salaries for your job; you can find a salary calculator on sites like HotJobs.com or SalaryExpert.com.

Timing is crucial - don't surprise your boss in the hallway. Instead, set up a meeting ahead of time so everyone is prepared.

Also it's important to know how your company and your industry are doing; no one wants to talk about giving you a raise if the company is taking a beating. If your company has a formal process, then use it.

Remember it's not enough to need a raise, you have to deserve one. When you step into that meeting you should be armed with a detailed document that shows how well you've performed.

Jen Sullivan of CareerBuilder.com calls it the "I'm Fabulous File" and says it's the key to getting that raise.

Did you get a good performance review? Bring a copy. Did the boss send you a "great job" e-mail? Bring a copy.

Part of persuading your boss is helping them make the case to their boss.

It's also important to understand your role in the company and how your performance relates to the bottom line. Do you create business? Bring in revenue? Or maybe your support is crucial to getting product out on time?

If the answer is no-don't despair and don't give up. According to Careerbuilder.com most don't succeed right away so remember you're starting a conversation. Make sure you understand exactly why you were denied. Is it based on the company's situation or your performance?

If the company can't afford to give you a raise, try bargaining for other benefits that may not cost the company anything, such as a work-from-home-Friday.

If you're turned down because of your performance get a detailed description of how you can improve.

Finally - our research shows that a universal NO NO is being too defensive. It drives your boss nuts and it kills your chance to get good open input on how to improve your performance, so take a deep breath and listen.

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