During my annual review today, the boss told me I’m doing amazing work, but then said "budget cuts" mean no raises. I want to stay, but I also want to get paid what I’m worth. Is using budget freezes a valid excuse, or should I keep trying to negotiate for a raise anyway?

likesmart
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The only way to get more money these days is every 24-48 months you jump ship to another employer. Loyalty to a brand was DOA in 2019 with covid and has been since the 1970s for corporate American. If you aren't sitting on the board you are nothing to them and they should be nothing to you but a piggy bank. There's no such thing as a gold Rolex for 50 years of excellence. Im not saying up and quit but im saying to update and polish your resume and start sending it out to everyone and anyone.

likehelpful

1000% on point. Loyalty died a long time ago!

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They already said no so it doesn’t look like you can negotiate successfully. I would just start looking for a new job and leave

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Also, all salaries for the year have already been fixed at this point and the budget approved. The best they would do is to consider a raise at the next salary discussion point which is at least 6 months away.

Always take care of you first. If there are budget cuts now there may be layoffs later. Investigate the performance of your company in this market and if things are trending downwards, get ahead of that by finding a new job. You get the largest financial bumps and/or promotions when you leave for a new company. Good luck!

likesmarthelpful

Get an offer from another company and take it to your boss. You should get at least a cost of living increase.

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Raises are not the only way to compensate or show gratitude. Retention bonuses also work. If you truly believe your company will miss you, you can start looking and come to them when you get an offer to counter. They can counter with a smaller raise but also throw in a larger retention bonus. It’s always amazing how companies can find money if they appreciate you and you tell them you’re leaving.

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It might be the company is struggling financially right now. May want to start looking for a new role. Once you get an offer that you like, take it to your boss about matching or beating it. But be prepared to put in your notice or walk out if things don't go the way you want.

Keep in mind, if they do give you a counter offer, and you take it, the relationship between you and your boss could change. Some managers may not like that you were looking for a new role, and start treating you different.

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The only thing I’d add is maybe there are benefits or perks that you could negotiate that wouldn’t change you salary… maybe additional PTO or flexibility with your schedule? Otherwise, I’d smile, reiterate how happy you are & look for new opportunities… but don’t quit until you have secured a position! Don’t let on you are looking b/c if they make cuts, I’d imagine they’d let people go that they think are already ‘checked out’.

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I would start looking for a new role. My company is recovering from severe financial distress. I think they'll be good in the long run but I had to ask myself if I want to stay at a place that's giving 2% raises or look for a company that is more financially stable. I'm looking.

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It really depends on how your company operates. Unless you’re really ranked top tier year over year at Amazon we’re not only flat, but have lost money over the last 2 years with almost no possibility of negotiating

Interesting. I appreciate your perspective. I’m in transportation so my options are limited to retail or like a UPS, but those are major pay cuts compared to Amazon

Your manager has ready told you that you arent getting a raise, there's nothing to negotiate.

It doesn't really matter if the excuse is valid, it's what they're going with. You can say you're disappointed but if the answer is no, it's no. It sounds like the company is struggling, and if you believe that to be the case, you might get serious about finding another job in the new year.

Nope. This is a test that shows you are willing to keep grinding. You shouldn't leave right away, but time to look for a place that will reward your skills and provide a culture that you vibe with.

Get your resume out there

Unfortunately in these times it is happening more and more. Do you have a supervisor you could talk with? Maybe even, hey I know things are tight right now, could we revisit in 3 months and look at raise?

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