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Sounds like a good time to ask for a raise
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Ah now it did.
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Companies typically have a strict comp raise process in my understanding, typically during annual performance review at the end of the year. I dont think you can just bring up hey i want a raise right now because that’s not how it works, atleast in my experience.
Like PM1 said, most companies will give you a raise after the annual review cycle. You would also get a raise if you were to get promoted. I’ve seen the non-promotion raises be pretty nominal, like 3 - 5%. If you want a more significant non-promotion raise, you can discuss with your direct manager or department head (it really varies by company on who is authorized to initiate the process). More established companies will have a process with HR to do off-cycle raises as deemed appropriate.
Same, 3% is a “good” cost of living annual raise. If you’ve worked somewhere less than a year and are expecting a raise greater than 3%, you likely didn’t negotiate the right salary at hire.
If you just got hired and need a raise beyond 5%, you got in at too low a salary.
Sigh. Got it. Thanks for the feedback
Comp review strategy depends on the company - ask your hr dept about it. If you dont want to go that far, ask your peers who’ve been there for 1+yr.
In general never expect to be given anything because if they can get away with not raising your pay that’s what’s they’ll do. Ask for an increase that you feel is deserved and reasonable every year. If they balk you’ll know what kind of place you’re at and can start looking for new work (which is typically the best way to get a large increase).
Not a silly question at all but it would depend on when you got your last raise.
You should ask your boss. Some companies give separate COL raises from performance raises. If they’re separate, COL is the same for everyone and pretty low (as I said in another comment, I’ve never seen it more than 3% and even that was unusual). Performance raises will vary by company, but they’re usually now significant unless you’re getting a promotion with that. Some companies won’t give performance raises if you haven’t been there for close to a a year (so if you started in December 2021 and check-in’s for the year where bonuses are discussed happen in February, don’t expect a raise since you likely haven’t been there long enough to prove yourself). If you have been there long enough to get one, ask your manager but make a case for your work output and growth, not for cost of living. Also, be patient if your manager tells you they don’t know what the rate is. I’ve been in the position where I’m waiting on Finance to determine how much is in the bucket and executive leadership to determine how that breaks down before they tell me the % to tell my team. It’s frustrating for sure, but it doesn’t hurt to ask and a good manager will be as transparent as possible with you as long as you’re not coming in saying you need 5% more after two months working there.