Annual Performance Reviews

[joelly]

Hi everyone,

I am thinking that next year during my performance reviews, I will ask for a raise. My employer giving a raise about 3-5% a year but I think I will ask more. The reason is selfish of course, because I know I am worth it. I just got my CPA license this year and it adds value to the work that I do and directly add value to the company.

My question is, does everyone else just take whatever raise the employer offer or do you also make a raise demand during the performance review? I''d appreciate it so much if you would share your experience this matter.

Thanks!!!

 

[purrfectpear]

Typically it depends on whether you work for a private company or a larger corporation. Large corporations usually have a pool of money. Most managers will "peanut butter" it around their direct reports. They often don''t have the ability to give any one person much more than the percentage of the overall pool, without going to the director/VP level and running it through HR. In short, it just doesn''t happen. 4% is what the top performers get in my (aerospace) field. Others get around 3%.

In a private company you are more likely to be listened to. It doesn''t hurt to ask

Keep in mind layoffs are prevalent in many companies, so this might not be the best time to push too hard.

 

[joelly]

Hi Purfectpear,

Thank you for your reply. I am not planning to ask this year but I will try to build my case so next year I can ask. My mgr asked me to get my certification because he said it will open lots of doors for me in this company. It''s private company by the way.

 

[D&T]

Date: 8/8/2009 8:00:19 PM
Author: purrfectpear
Typically it depends on whether you work for a private company or a larger corporation. Large corporations usually have a pool of money. Most managers will ''peanut butter'' it around their direct reports. They often don''t have the ability to give any one person much more than the percentage of the overall pool, without going to the director/VP level and running it through HR. In short, it just doesn''t happen. 4% is what the top performers get in my (aerospace) field. Others get around 3%.

In a private company you are more likely to be listened to. It doesn''t hurt to ask

Keep in mind layoffs are prevalent in many companies, so this might not be the best time to push too hard.

ditto. I left a corporation where the raise was pretty much across the board peanuts really but if I pushed they would have to go through multiple of people. My sister pushed as she knew she was worth it, it took her a couple of weeks and they compromise. I then left the corporation to a private company, there was open communication only two people, my boss and the owner needed to make the decision.

 

[IdLikeToBuyAVal]

My company (private corp) doesn''t even DO annual reviews! They try to skate by with 1 1/2 - 2 year reviews but some of our employees who''ve been with us for 20+ years wait 2 and 3 years to get a review! I''m especially annoyed by it because our HR/Payroll person left a year ago, I was the only backup so 4 months after I start working for this company I have to take over payroll temporarily (for our 530+/- workforce). HR duties are given to the AR manager. We''re told it should be around a month and I''ve given a 10% raise for helping out. A year later and the "temporary" position shows no sign of ending on top of my normal duties as an accountant.

Aside from that, I would say push for the larger increase if you feel you deserve it. Receiving your CPA is a BIG deal and SHOULD be rewarded IMO. Good luck!

 

[jewelerman]

Ask for more.My company wont be doing reviews this year because they are not giving raises.Over the last year the company has cut our bonuses, hours,cut our staff by half, and cut the amount of product it stocks and its doubled our work load,but no raises.

 

[joelly]

Date: 8/8/2009 10:43:12 PM
Author: D&T

Date: 8/8/2009 8:00:19 PM
Author: purrfectpear
Typically it depends on whether you work for a private company or a larger corporation. Large corporations usually have a pool of money. Most managers will ''peanut butter'' it around their direct reports. They often don''t have the ability to give any one person much more than the percentage of the overall pool, without going to the director/VP level and running it through HR. In short, it just doesn''t happen. 4% is what the top performers get in my (aerospace) field. Others get around 3%.

In a private company you are more likely to be listened to. It doesn''t hurt to ask

Keep in mind layoffs are prevalent in many companies, so this might not be the best time to push too hard.

ditto. I left a corporation where the raise was pretty much across the board peanuts really but if I pushed they would have to go through multiple of people. My sister pushed as she knew she was worth it, it took her a couple of weeks and they compromise. I then left the corporation to a private company, there was open communication only two people, my boss and the owner needed to make the decision.

I guess if I were to push (not hard of course, maybe a mere persuasion) then my direct mgr has the final yay or nay. I like my direct mgr (J). He is the one implying that my certification will make me worth a lot more. I will be asking him next yr. In the mean time, I will keep building my case and crossing my fingers.

 

[joelly]

Date: 8/9/2009 1:10:55 AM
Author: IdLikeToBuyAVal
My company (private corp) doesn''t even DO annual reviews! They try to skate by with 1 1/2 - 2 year reviews but some of our employees who''ve been with us for 20+ years wait 2 and 3 years to get a review! I''m especially annoyed by it because our HR/Payroll person left a year ago, I was the only backup so 4 months after I start working for this company I have to take over payroll temporarily (for our 530+/- workforce). HR duties are given to the AR manager. We''re told it should be around a month and I''ve given a 10% raise for helping out. A year later and the ''temporary'' position shows no sign of ending on top of my normal duties as an accountant.

Aside from that, I would say push for the larger increase if you feel you deserve it. Receiving your CPA is a BIG deal and SHOULD be rewarded IMO. Good luck!

Thanks a bunch for your support, IdLikeToBuyAVal. I do think I deserve it as they said it themselves that I make a lot of contribution to the company. Last yr during the review, they gave me a raise but later I find out that I can ask for more but I didn''t. So, next yr for sure I will ask and persuade them to give me more. I am building my case and crossing my fingers.

 

[joelly]

Date: 8/9/2009 12:39:19 PM
Author: jewelerman
Ask for more.My company wont be doing reviews this year because they are not giving raises.Over the last year the company has cut our bonuses, hours,cut our staff by half, and cut the amount of product it stocks and its doubled our work load,but no raises.

I am so sorry to hear this, jewelerman. I hope everything turns around to be good for you. Thank you for your support in my case.