VIDEO: Tips on when to ask for a promotion

NEW YORK (KGO) -- Is there a best and worst time to ask for a promotion?

"Shark Tank" stars Barbara Corcoran and Robert Herjavec shared their top tips on how to ask for a promotion on "Good Morning America."

The ideal time to ask for a raise is "when the atmosphere is happy," Corcoran said. "Most people go and ask for a raise when it's review time. I don't think that's the right time. I give the biggest raises when sales were great," she added. "We just had a big party, we spent a lot of money, we're all happy."

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So, what about the worst time to ask for a raise?

"Don't do it on a Friday afternoon. Because what am I thinking on a Friday afternoon? I want to go home," Herjavec said.

Herjavec also recommended not asking for a raise before your boss goes to lunch.

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ABC News' Rebecca Jarvis spoke to both "Shark Tank" stars and emphasized on why Friday is a bad idea. "You do not want to ask for a promotion on a Friday, the reason is the boss is ready to get out and enjoy the weekend. You want their full attention. Plant the seeds along the way, invite them to a nice coffee sometime in the middle of the week and start asking," said Jarvis.