How to ask for a pay rise

Choosing the right moment
The most obvious time to ask for a raise is at your annual review; however, many of your colleagues will surely have the same idea and your request may get lost in the crowd. It may be a better idea to ask at a different time like when your job changes or you take on new responsibitlies, but this needs preparation. Arrange a formal meeting with your boss and then arm yourself!
Talk to your direct supervisor: he may not be able to make a decision, but no decision will be made without his/her agreement.

Preparation
Start with thorough research. Ensure that your company is doing well financially and that economic growth is healthy. Understand company policy, know what criteria they use for a rise and their methods of giving rises. It’s important to be familiar with company criteria before stating your case.