Author Topic: Annual Review coming up at work  (Read 2934 times)

deek

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Annual Review coming up at work
« on: March 12, 2019, 07:49:19 PM »
What is the best way to go about finding out how much of a raise is reasonable to ask for? I can directly attribute revenue to activities I've done and I also have taken the lead in one area that was not in my original job description. Also, how do I know if I'm not getting offered enough? I started at 38k a year ago and they have since given me a 1.5% raise at my 6 month review.

chasesfish

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Re: Annual Review coming up at work
« Reply #1 on: March 13, 2019, 05:28:18 AM »
What a great question!

You should know how much revenue you directly contributed.  Professional salespeople tend to get paid around 20% of what they bring in.

The real way to find out is to keep your resume up to date, network effectively, and occasionally interview for other jobs.   I could type a bunch up, but a lot of my thoughts are similar to this guy's, so I'll leave you this link:

https://www.themastermindwithin.com/increasing-your-income-comprehensive-guide/

Glenstache

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Re: Annual Review coming up at work
« Reply #2 on: March 13, 2019, 10:28:01 AM »
This depends a bit on your specific job and industry, but you should look up two pieces of information: 1) what is the local CPI (consumer price index) and overall rate of inflation (ie, what is the minimum raise requried to break even)? 2) look on glassdoor or other salary database for what the local pay rate for that position is. Are you at the top/middle/bottom of your range?

SnipTheDog

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Re: Annual Review coming up at work
« Reply #3 on: March 14, 2019, 09:09:09 AM »
For most of my salaried positions, annual reviews have always been a joke.  They pretend to appreciate the work you've done, and then treat you like the rest of the others with a meager percentage of a COLA.  If you beat up your manager with all that you've done, in many cases they can't or won't do anything for you.  The best thing you can do in my opinion is to have another offer and get them to match the offer, or not. 

If you want to make more at your salaried position, than put the task and amount in writing where they can't say no if you complete your tasks.

BrightFIRE

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Re: Annual Review coming up at work
« Reply #4 on: March 14, 2019, 01:03:14 PM »
I find Ask a Manager to be a great resource. For example, here's a recent post https://www.askamanager.org/2019/03/how-to-find-out-what-salary-you-should-be-making.html She also has stuff on how to negotiate, make sure you get promises in writing, etc.

JoJo

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Re: Annual Review coming up at work
« Reply #5 on: March 15, 2019, 05:02:24 PM »
For most of my salaried positions, annual reviews have always been a joke.  They pretend to appreciate the work you've done, and then treat you like the rest of the others with a meager percentage of a COLA.  If you beat up your manager with all that you've done, in many cases they can't or won't do anything for you.  The best thing you can do in my opinion is to have another offer and get them to match the offer, or not. 

If you want to make more at your salaried position, than put the task and amount in writing where they can't say no if you complete your tasks.

Yep, this is pretty much how it goes at my company.  My top raise in years has been 3%.  usually more like 2%  at least i'm part time now.

Freedomin5

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Re: Annual Review coming up at work
« Reply #6 on: March 15, 2019, 06:03:22 PM »

The real way to find out is to keep your resume up to date, network effectively, and occasionally interview for other jobs.   I could type a bunch up, but a lot of my thoughts are similar to this guy's, so I'll leave you this link:

https://www.themastermindwithin.com/increasing-your-income-comprehensive-guide/

^This.

Regardless of company culture, interviewing and having a job offer in hand is one of the best ways to ask for a raise. No company is going to pay more than is absolutely necessary, and HR is trained in the art of negotiation. If you need the job more than they need you, you’re already at a disadvantage.

Sure, start by showing your contributions and asking for a raise (per the guidelines listed by other posters), but if you actually want to GET the raise, you need to have a back up plan and be ready to walk if they don’t agree to a raise.

deek

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Re: Annual Review coming up at work
« Reply #7 on: March 26, 2019, 11:25:22 AM »
Ended up getting over a 5% raise from when I started a year ago. I think this is fair given our company is less than 30 people. Big things ahead though. I'm looking forward to the future and ironing out a leadership role in a department I really enjoy.

bryan995

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Re: Annual Review coming up at work
« Reply #8 on: March 26, 2019, 04:26:40 PM »
Like others have said, the only true way to know, is to either a) discuss salary with co-workers (or use an anonymous forum/chat app - aka blind) or b) explore what you are worth in the market by interviewing. 

In my field, a promotion is normally 10% and a year cost-of-living adjustment is 3%.
If you are not making >2% yoy then you are effectively taking a pay decrease.

Every little bit you can lock in now will only compound with the raises you will get year and years from now.  You are the only one in your corner, so fight for what you deserve :)

« Last Edit: March 26, 2019, 04:28:56 PM by bryan995 »

SeekingFIRE43

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Re: Annual Review coming up at work
« Reply #9 on: March 26, 2019, 05:26:52 PM »
If your company is listed on the Glassdoor app, you can see what salaries some other people have entered for their jobs. You can also see what other companies are paying their employees for similar positions. I think you need to research what the average salary is for your job in the market before you decide how much more money to ask for.

SKL-HOU

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Re: Annual Review coming up at work
« Reply #10 on: March 27, 2019, 07:10:42 PM »
If your company is listed on the Glassdoor app, you can see what salaries some other people have entered for their jobs. You can also see what other companies are paying their employees for similar positions. I think you need to research what the average salary is for your job in the market before you decide how much more money to ask for.

I have found the salaries reported in Glassdoor to be much much lower. Not sure why or how because it is supposed to be real salaries. For example, the offer i just got is 135k plus 8-12%bonus. The same title is listed as 90-100k by several people. It is not just one company either, i have found several to be way different/lower. I don’t know if anyone else has experienced the same.

 

Wow, a phone plan for fifteen bucks!