When Salary Increment Doesn’t Match Your Expectations
It is wise to not count on your chickens before they hatch. It is important to take a step back and evaluate what you got and what you did. Low salary appraisal can be a bummer. Most of the people get depressed by low salary increment. Employees across various industries have received, on average, a salary hike of 10-12%. And if you are a soon-to-be graduate or a fresher, you are probably wondering how much your degree is worth. Most students place a high priority on salary as they anticipate employment after graduation. However, the reality for graduates often does not live up to their expectations.
This was about the people already in a higher positions in companies and the graduates. What about the people on the lower end of the spectrum?
Here are some ways to tide-over this initial shock.
Communicate With Your Boss
When you don’t get an expected rating or a salary increment, the first thing to do is absorb what has happened. If you were expecting a promotion and didn’t get one, making extreme decisions is totally a bad idea.
You should seek time to discuss this with your manager. Understand why you have been given such feedback or rating. Managers are not your enemies. If you would have been good then you would have received promotions.
Don’t Make Extreme Decisions
Do not make hasty emotional decisions. Usually, when there is a mismatch between the expectation and the reality, people lose their temper. They are not prepared for the situation and end up making extreme decisions and resign.
Keep calm. Understand why such a decision was made. Yes, we agree you worked so hard for your salary increment. But, some things are out of your control. Instead of jumping on conclusions, sit and evaluate your performance throughout. Make a note of your mistakes and try to improve.
Seek Time Gaining Skills
Talk to your boss about how you can develop additional skills. This time you should aim for bigger things that add to your professionalism. You should request to work across functions and projects. This can give you wider understanding and exposure.
Once your senior leaders notice your energy and your professional passion, they will now you are worthy of higher compensations. And a better increment next year is sure to follow.
Make A Personal Development Plan
The question is, what is the way forward for those who have received 7% salary hike or lower than they were expected,? Is salary your only motivating point? If it is, it should not be. Set a goal for yourself.
Learn to communicate better with your manager, and understand what you need to do to be a higher performer. Set up daily, weekly, monthly targets for yourself that improve your overall performance.
Lower Your Expectations A Bit
Let’s be practical here. If you are expecting a 50% salary hike because according to you, you did exceptionally well, you are very wrong my friend. You must get your expectations in line with reality.
If you have impractical expectations of your appraisals, whatever you get would be low for you. Anyway, one or two lower appraisals wouldn’t affect your entire career. But it is better not to get consecutive bad appraisals. Be positive. Work hard to get your dream appraisals.
Getting a low salary does not affect your career as such. But you cannot let it become a trend. Salary hikes are non-dependable and hence you should not plan according to them.
Relying on unpredictable salaries not just for basic living but a secure financial future will certainly not be enough.
It is important to consider employment values other than compensation. In addition, remember, money isn’t everything. Consider factors like your advancement in day to day activities and sharpening up your skills. Also, do not forget to consider work-life balance a factor to make good decisions. Don’t just run after money. Be a good professional human being that manager is afraid of losing.