Raises and end-of-year bonuses signify a job well done and the value you provide to your employer, and they help pay your bills and fund your retirement. But there are multiple reasons why bosses don't give raises. Avoid these situations, and your chances of receiving that coveted raise are likely to be much higher:
You made it too personal.
You told your boss that the rising cost of living was one of the reasons why you should receive a raise. Oops. Raises are actually about performance and bringing in money for your employer, not about your personal needs.
You didn't practice your pitch.
You went in cold. You decided to wing it. For whatever reason, your boss wasn't buying it. Instead, thoroughly plan your pitch, including your reasons for deserving a raise and rebuttals to any common questions your boss might ask.
You had no Plan B.
Maybe you went in with a great pitch. But it turns out nobody is receiving a raise this year. Think of other elements beyond the bottom dollar. Maybe you can negotiate extra personal days or vacation time in the coming year. Perhaps a work-from-home arrangement one or two days a week would really help your budget.
You didn't raise the bar.
Perhaps your performance review was "better than average," but did you truly excel at your job? When your value is undeniable and you continually push yourself to go above and beyond your boss' expectations, your boss will more often see why a raise is warranted. Going forward, be honest with yourself about your performance.
You didn't offer a figure.
When you asked for a raise, your boss said the company was open to the idea. Then, nothing. What happened? Don't leave it up to your boss to provide a figure. Instead, tell your boss what you would like to be paid first.
Before you do, research what jobs like yours are paying.