Image courtesy of MPS
I had my annual evaluation for 2008 yesterday. My company does performance evaluations twice a year; once around June or July and then again at the end of January. Raises are only given once a year during the January evaluation.
I went into my evaluation with an open mind and low expectations. Due to the struggling economy, there are a lot of companies that are not giving raises this year and/or trimming the payroll. Some companies are even reducing salaries or cutting the number of hours. I feel that my job is pretty secure but and I didn't think there would be any issues with my performance.
At first, it was hard to not expect any money since I received a very good raise and merit cash equal to 5% of my yearly salary in 2007. In 2008, I didn't receive the merit cash but I still received a nice raise and a $500 bonus.
After reviewing my performance with my manager, I came out of my review with a 2% raise. I was very happy to get any kind of raise; especially since a couple of my co-workers didn't get a raise at all.
What do I plan to do with my raise? It's going into the savings account of course. I've made a conscious effort for the past few years to make sure that my expenses did not increase just because my income increased.
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