BLUF: What is the best approach for making a case for a salary increase and increased bonus?
Organization context: publicly traded bank that continues to see earnings growth every year. A major focus for the executive's is productivity improvement (which means cost cutting for cost centres like IT)
Why the company should grant me a higher than usual bonus and salary increase:
I expect to deliver $260,000 cost savings through various projects.
My request:
Rate my performance as Outstanding (highest level in my organization)
-Grant a $10,100 bonus (i.e. less than 4% of the savings I delivered) (as opposed to the "standard" bonus for my level of approx $4000 and rating of "Satisfactory")
-Salary increase of approximately 5% on my base salary (as opposed to 2% increase last year).
Given that I'm presenting to an IT organization & manager, does it make sense to focus on cost savings? Would it be a better approach to focus on the rating of Outstanding (and basically trusting my manager to take care of things financially)?
Not yet. Don't ask for a
Not yet. Don't ask for a big raise and bonus based on what you *expect* to deliver, ask for it once you *have delivered*.
I am laying the groundwork
I am laying the groundwork for compensation discussions that occur in the fall (October-December). I want to get everything ready in advance.
The question remains how do I present this: I saved $X dollars (and delivered on everything else); therefore I request Y rating, and Z compensation.