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Being an employee at a company has many challenges – you want job satisfaction, a work-life balance and opportunities for promotion. But most of us want a decent financial reward. We aim to get a good salary to pay for the essential things in life plus a few luxuries. But when that's not enough, we have to do the hardest thing in the world – ask our boss for a pay rise!

In some companies, a regular annual pay rise is the norm – all staff get a fixed increase in their monthly pay packet. In other firms, workers might get a bonus to reward them for their efforts or for meeting a target. But for some people, a pay increase is something you have to ask for – and if you don't ask, you don't get!

Wage increases have been a sensitive issue in recent years. Due to the global economic recession, businesses had to tighten their belts. Most public sector pay in the UK, for example, was frozen for two years in 2010, and after that rises were capped at 1% - below the rate of inflation. But last month the government awarded them a pay rise above the 2% inflation rate so that teachers, for example, will get a 2.75% salary boost. That's the equivalent to £1,000 extra a year for those on an average salary.

But not everyone is happy at being given a fixed pay rise – they feel they're worth more and that they deserve more money. It's not something we should fear "asking for", says Pip Jamieson, founder of the professional networking site, The Dots. She's told the BBC "No one ever got fired for asking for a pay rise. In fact, rather the opposite - asking for more money shows ambition and shows you want to stay with the company."

It's something BBC Business Reporter Jamie Robertson has been looking into. He's found that you need to do your research and find out what kind of pay your job should be getting, perhaps by talking to your Human Resources department. You'll need to give good reasons for wanting more money and you'll still have to keep your increase within your pay grade. Ask for an exact sum and be prepared for some negotiation. Of course, if you can't get more cash then there are other perks you could ask for, such as flexible working or more time off. But if that gets you nowhere and your boss won't budge, maybe it's time to quit and find a new job?