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Are you expecting a raise this year? The budget for increases is going to be handed down from on high so don’t ask how it will be apportioned, just know that once it is decreed, it is decreed.
Increases (if any) are going to be small this year. How small? Some places are predicting no more than 2 percent. It will be surprising if it was much higher than that, but wouldn’t be shocked if it was lower.
Let’s also assume that your co-workers are all in similar roles with similar salaries. For the ease of math, let’s say that there are 5 of you, each making $100,000 a year. So for 2.5 percent raises (just a random number), that would mean your boss has to work with a budget of $12,500.
Now, we’ll assume your boss gives you a 6 percent increase ($6,000) because you’re a top performer, leaving $6,500 for your four co-workers. Which means they each receive $1,625 per person, or 1.62 percent. Your co-workers all know that the budget is 2.5 percent, so they will all be ticked to be so far below the average. While their ratings aren’t as spectacular as yours, let’s assume they are good. So they will all storm into your boss’s office and demand an explanation as to why their raises stink. Your boss, being a good boss, won’t point to you and say, “I gave it all to Bill!” He’ll have to say, “Your raise was in accordance with your performance.” Now, they are all demoralized.
This is if your boss is lucky and someone higher up the food chain doesn’t have a special person he wants to bestow a 10 percent increase on, stealing some of your group’s salary dollars.
So chances are, a 6 percent increase won’t happen. A 4 percent raise is more likely, but you have to keep in mind that the budget is what it is.
Researching salary information is a good starting point. Present that information to your boss, but make sure it’s valid information — not “My friend at [big competitor] makes $10,000 more than I do!” There are numerous salary sites on the internet that can help direct you. But make sure you also look at what people are currently offering for similar jobs. The market isn’t a good one right now.
Do not compare yourself to your colleagues. Stress your contributions and how you will continue to be a top performer. Under no circumstances are you allowed to say, “I do a better job than everyone else in the department so I deserve the highest raise.” This will earn you two rolled eyeballs and a negative mark on the “teamwork” part of your performance rating. Doesn’t matter if it is true; it will annoy the heck out of your manager.
Forget the argument that you didn’t get a raise last year. That is not going to fly. Why? Because no one got a raise last year. Everybody thinks they deserve more, including your boss: Your manager wants a top performance rating so he can get a big raise as well. Show him how you will help achieve that next year. Make your case on not only what you have done for the company, but what you will do. The reason for salary increases is to encourage future performance, not reward past performance. Demonstrate that because you have been a consistent high performer in the past, you will be one in the future, and outline how you will accomplish this.
Given the state of the economy, few managers are worrying right now about employees jumping to a new job. But convincing them of your future value to the company — and to them — will likely push you closer to the raise you deserve.
Suzanne Lucas
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