Comment demand a raise (Score 3, Informative) 442
Listen, I've been through this...
if you've been promoted, and are assuming more responsiblity, etc. NOW!!! Hear me loud and clear, NOW!! is the time to demand for a raise. Tech. work is surprisingly very close to prostitution industry. You're basically a good hoe right now. Recognize it, and firmly ask for a raise. Have a decent figure in mind. 10-20%, more? Whatever you want.
Dude, if I've learned one thing, asking never hurts. You've only got money to gain. Rather than looking for another job right now, you probably have a better chance of getting money out of these people. I was able to demand a 50% rate increase, after I got promoted, and I knew I was the shit. Now what made it easy asking for the raise and demanding it? I was ready to walk away from the job, and I knew I could at least get equal or beter pay and better working hours.
So recognize you can walk away from this and lose 2-4 weeks, and find something equal and better. To effectively job search from what I've learned, you need the time. This is a whole other subject...
After you know you can walk away, you get guts. Free confidence, b/c you've got nothing to lose. And you tell the manager you've got the best relation with (he counts on you like crack): I love this company, the people, etc. I don't want to go, but given everything I've demonstrated (have a list ready), I deserve appropriate compensation. (seem pissed). State a figure (i'd go high, 25%+), and then just shut up and wait for him to respond.
Worst case I gaurantee: you'll get a minimal raise.
Best case: you find out how afraid they are of losing you, they count on you, you're part of momentum on the project, etc. you get what you ask for.
Go for it.