Why Didn’t I get a Raise this Year?
Why Didn't I get a Raise this Year?
Q. Last week I had my performance review. I thought 2015 was a good year for me; I really worked hard and produced great results. However, I didn’t get a raise. I was really counting on a raise this year, is there anything I can do to change my boss’s mind?A.
I’m sorry you didn’t feel your contributions to the company were recognized. Your timing is a bit off, but having a conversation with your manager is still an option. Before you have that discussion, do some homework. You did well, but how did your company do? Organizations most often look at overall success and revenue availability before they look at individual success and offering raises or a bonus. If your company did poorly, there may have been a corporate wide decision not to provide raises. A raise is not the only type of increase people get, so make sure you are not pushing for a 3% increase if you got a bonus more substantial than that.
After you understand the company situation and the practice your company follows – whether to give cost of living adjustments (cola), merit only, bonus only, some combination, or nothing, you can decide what you want to say to your manager. The biggest mistake people make, which you referenced, is counting on the money, or a raise being related to your need for more money. Raises and any kind of pay increase are about contribution to the company, and the success of the organization overall.
Before you arrange a formal meeting with your boss, know what the market average for your role is. There are many sites that provide this information, from government publications to professional associations, and Glassdoor or Payscale. Information about cost of living raises are also readily available and if your company is public, stock price is revealing, and if private, you should have been listening all year to what senior management is saying about the success or lack of in the company’s situation.
Start your formal meeting, by saying how happy you are in the role, and to be working with the company. Make sure you manager knows you are committed to the organization. Review some of the significant contributions you have made – be specific. Instead of, “I increased the company’s social media presence.” You might say, “Last year I increased our Twitter followers by 70 percent and our Facebook page likes by 25 percent.” These successes don’t need to be over the top, but they need to be projects you owned, and that you were told mattered. It is great if you can relate the topic to a previous discussion. Perhaps say, “As we discussed, you told me how much more effective this growth made our overall marketing campaign.” From there explain, “I was disappointed that I didn’t get a raise, or a bonus. Can you help me understand your decision?”
What you hear may influence how you feel about your job, the company and your manager. You need to learn if you are highly valued or not, if your performance was not meeting expectations, if the company is secure financially, or not doing as well as you had hoped, and what your financial future looks like. Based on this information, you can ask for the raise to be reconsidered immediately, or at some point in the near future. Don’t be afraid to ask for something much sooner than a full year. Remember, salary decisions are business decisions and should not be based on emotions. Keep all personal issues out of the discussion. You may be saving for a new house, expecting a child or paying for school, but that should not be brought up. It doesn’t matter whether you need the money – contribution to the organization is the key factor.
Performance reviews and raise discussions rank high in areas that both employers and employees would like to avoid – but they are necessary for growth and development. If you feel your accomplishments are not being rewarded accordingly, never be afraid to have a conversation. You need information to make the best career decisions and when you are skilled in having these conversations, your options and compensation can be expanded.
To comment, please create a screen name in your profile
To comment, please verify your email address
Conversation
This discussion has ended. Please join elsewhere on Boston.com