Similarly, if you're in the remaining arm of a company that has been acquired, such as Bear Stearns or Lehman Brothers, you need to be even more careful about compensation, says Mr. Feiner.

WSJ: It Can Be Done: Landing a Raise In a Recession

In industries that have remained relatively strong, such as health care or education, asking for a raise won't be taboo, but Mr. Feiner still advises keeping expectations in check and using supporting evidence when making the case.

WSJ: It Can Be Done: Landing a Raise In a Recession