Search
Advice » Salary & Benefits» Negotiation Tips » Use Your Annual Review to Nego ...
Use Your Annual Review to Negotiate a Raise

Use Your Annual Review to Negotiate a Raise

Your annual review is often the forum for haggling over a raise. People tend to go into these meetings assuming employers will note their accomplishments and reward them accordingly. But that's not always the case. What's more, Monster members often write that they have not received a raise in two years or more. Worse, some employers have actually taken away certain benefits, such as bonuses or vacation days.

These examples underscore the need to be prepared for your performance review. You must know how to challenge the suggested raise and negotiate for more, whether that means dollars or benefits. This doesn't mean you'll always get what you want, but if you do your homework, at least you'll be satisfied you did all you could to get a decent raise.

Preparation Is Key

Savvy employees keep a performance review file. During the year, they put in memos, lists of completed projects or additional work taken on during the year as well as documentation of good performance. This file serves two functions. First, it provides you with proof of what you accomplished. Second, it jogs your memory when it's time to prepare for a review. If you're like many workers and don't have such a file, take the time to look over your calendar from the past year and re-create in your mind what you accomplished. Write it down.

Do Your Research

In order to have some weapons at the negotiating table, it's a good idea to use tools such as Monster's Salary Wizard to find industry salary data. These stats can help support your request when face-to-face with your boss.

Listen to the Grapevine

The word about raise amounts tends to leak out once the review process starts. After the first few employees have been in the hot seat, observe how they look. Often dissatisfied employees will let the world know they were treated poorly or cheaply. If salary increases are lower than expected, chances are you'll find out before your own review. Responsible employers will often notify workers if salary increases are lower than the previous year. Don't hesitate to ask your boss before your review if you can expect a good raise.

Have a Figure in Mind

Base this on your previous year's increase plus the company's performance over the past year. If the company's sales were flat or there were layoffs, chances are you may not get as much as you did last year.

Stick to Your Guns

Once you have a salary figure in mind and your list of achievements in hand, let's say your boss says you'll get a much lower raise than you expected. This is where your preparation comes in. State your achievements and reasons you deserve more. Expect your boss to balk. Then it's your turn to throw out more reasons you deserve a raise.

Often your manager will say, "This is the figure everyone is getting across the board." Don't buy into that until you've played all your "I'm a great worker, look at my achievements" cards. True, many employers do set aside a certain amount for raises, but there is always room for that special case, the employee who went above and beyond the call of duty.

Buy Time

If your employer refuses to give you the raise you feel you deserve, negotiate for a timeline to get what you want. For example, state your disappointment and that you'd like to revisit the issue in three to six months. You've got to walk the thin line between retaining good relations with your boss and fighting about money. Perhaps in six months the company will be doing better. Perhaps in six months you'll take on more projects and responsibilities. Set yourself up for another review that may allow you to get what you want. But be careful: Make sure the extra review does not replace your annual one.

Another option is to find something else to negotiate for if a salary increase is not sufficient. This could mean asking for a flexible work schedule, more vacation time, educational opportunities or other desirable benefits.

Get It in Writing

Whatever you agree on in the meeting must be put in writing immediately. Write a memo to your boss and HR and restate the conversation. Make sure everyone signs and dates the memo. Make three copies: one for your employee record, one for you and one for your boss.

Latest Jobs

Rooney
Posted: 07/29/2014
Princeton, IL, 61356
Bureau Valley School #340
Posted: 07/29/2014
Manlius, IL, 61338
WZOE
Posted: 07/29/2014
Princeton, IL, 61356
Gulf Crest Condominium Assoc.
Posted: 07/29/2014
Panama City, 32408
Battery Source
Posted: 07/29/2014
Lynn Haven, 32444

Want more personalized results?  Update Your Profile

 
 
 

Monster Communities

Teaching Community
Where teachers meet and learn.
ArtBistro
Create and connect.
Excelle
Networking for the career-minded woman.
Nursing Link
Where nurses call the shots.
More Monster Communities

Monster Partners

Scholarships
Scholarships, financial aid and more ways to pay for school.
Education.org
Find top campus and online degree programs.
Military.com
Military portal for the US Army, Navy, Air Force, Marine Corps and Coast Guard.
Financial Aid
Scholarships & financial aid.
Staffing for Government Jobs
Staffing and hiring solutions for federal government agency jobs.
More Monster Partners

Job Hunt Strategy

Six Ways to Make a Recruiter Hate You
If you want to blow your chances with recruiters -- and, by extension, with the companies they work for -- here are six perfect ways to do so.

Resumes & Cover Letters

Rev Up Your Resume to Relocate
Hoping to relocate? Get the ball rolling on landing the right job in the right location with these expert resume and cover letter tips.

Interviewing

100 Potential Interview Questions
Interview questions can run the gamut. You probably won't face all 100 of these, but you should still be prepared to answer at least some of them.

Salary & Benefits

10 Questions to Ask When Negotiating Salary
Most of us aren't natural negotiators, but asking these 10 questions during salary negotiations can help you get everything you deserve.

Employee Sourcing

Alt text
November Monster Employment Index Grows 13% Year-Over-Year, Tenth Consecutive Month of Positive Annual Growth.

For Seekers

Campus and Online Degrees
Advance your career and earn more with an online degree.
Free Salary Wizard
What are you worth? Find out and negotiate a better salary.
Research Careers
Get information on jobs and career paths to help guide your choices
Questions & Answers
Find answers to all your career related questions -- powered by Yahoo! Answers
Resume Distribution Service
Our distribution service puts your resume right in the hands of recruiters.
Resume Writing Services
Our experts will craft a keyword-rich resume that stands out in the crowd.
More Career Resources

For Employers

Career Ad Network
Target your job posting to more candidates on thousands of websites.
Hire Right Background Checks
Explore our background check packages to improve the quality of your hires.
Hiring Home Page
Find the best candidates for your business with Monster hiring solutions.
Job Postings
Find the right solution for your hiring needs. Starting at $99.
Power Resume Search
Monster's new search technology precisely matches people with your jobs.
Resource Center
Find staffing insights, labor trends, HR best practices and more.
Target Post
Connect with skilled, hourly and administrative candidates for only $99.

Social Media

Jobs on Twitter
Find jobs in your area and industry.
Monster Careers
Tune into our career advice and discussions tackling a wide range of topics and industries.
Monster Corporate & PR
Stay up-to-date on the latest news. Get the 'Who', 'What', 'When', and 'Why' on all things Monster related.
Monster Customer Service
Got a Monster question? We've got the answer. Whether you're a job seeker or employer, we can help you find the answers you need.
Monster for Employers
Find advice on hiring.
Follow Us
Check out our many pages and stay connected with the latest industry news, events, career advice and job openings.

Other Links

Monster Company Profiles
Explore companies and get information to guide your career decisions.
Compare Salaries
See how your pay stacks up to others in your field.
iPhone Application
Download the Monster app for iPhone and iPod touch.
Monster Job Seeker Blog
Monster Job Seeker Blog.
Monster Thinking Blog
Monster's Recruitment Trends Blog.
Jobs & Career Resources
Search Jobs:
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.4.35.44-213
eTrustLogo