Potentially even more feared than the oft-dreaded performance review conversation is the “asking for the raise” conversation. In fact, so many people are so afraid of asking for raises that many never do it. They simply put their head down, do their work and hope that the company compensates them fairly. Don’t let this be you.

Now, I’m not recommending swinging to the opposite extreme by turning into a “flamechaser” — someone who is only ever focused on the next raise or the next promotion to the detriment of their current work.

There is a balance between these two types where you can do good work and facilitate conversations that both get you noticed and get you paid better. You should approach asking for a raise strategically–just like you would any business matter. Wait for the right opportunity, come prepared with your facts (both your solid performance track record and external compensation benchmarks) and potentially use a mechanism like asking for a broader role or responsibilities at the same time. Good luck!