Got a performance rating of Exceeds Expectations. My boss requested a significant salary adjustment and I was denied and given the standard 2.5%. Should I quit my job?

[u/FapForYourLife]

I was originally promoted within my company to create a new department about 1.5 years ago. I’ve since worked my ass off and spent the last year doing managerial level work for non-managerial pay ($47k).

I initially accepted this offer as it was in line with my experience at the time but I’ve now shown that my capabilities go far beyond what was originally expected of me. My market value is between $60-75k based on the title I should have.

My boss agreed with this and requested a large pay bump prior to my review. He was denied and told I’d receive the standard 2.5% that everyone else got and could renegotiate in 6 months.

The problem with this is that I was told the same thing the last time I requested a raise and it was never followed up.

I’ve set up a meeting to ask what specific goals and milestones are in place for this 6 month period.

Are they saying to renegotiate in 6 months because raises were already budgeted for review time, or are they just trying to pay me as little as possible.

Worth noting that I love my job - I self manage with hardly any supervision as I chat with my boss every Friday about what’s going on. Should I just leave now or wait until I discuss why my salary adjustment was denied with the CEO?

Edit: I don’t plan to quit without receiving an offer from another company - just asking if it’s worth negotiating with my current employer or if I should just take more money somewhere else.

Edit 2: Holy hell I only expected to get 5-10 responses. Thanks everyone for the help!

Current plan is to discuss why this happened and to also shop around for other jobs. Probably won’t use an offer as leverage although I’ve seen others here do so successfully. Cheers, all.

[u/Ruadhan2300]

From the sound of it, Superboss is just brushing off the extra expense of giving you a raise hoping you'll either forget about it or wait until next time.
You have very little reason to wait until then and every reason to push this.
If you wait until your next opportunity to renegotiate, you've essentially given him the difference of what you should be earning assuming you actually get the raise then.
From what you're saying that six month wait will functionally cost you somewhere in the region of $6500 - $14000, which is clearly unacceptable. You definitely wouldn't get it in back-pay!

Discuss it with your boss, he's already got your back on this, he may be willing to go to bat and try again on your behalf. Especially since this isn't the first time it's happened!
In the meantime, line up your CV and start job-hunting on the side, in many fields, switching jobs is a pretty reliable way to maintain your pay-grade. Your only concern should be doing it too often.

Your Super-Boss needs to recognise that you're an asset to the team and if you're not treated fairly, you'll leave and do better elsewhere.

[u/Br0nichiwa → u/Ruadhan2300]

Agree 100%. Most employees are afraid of confrontation, they see negotiating a raise as confrontation. Most executive level, or "decider" type roles bank on this. Yes it sucks if they get called on their bluff and a talented employee leaves... but overall the money saved on hoping people will not confront HR/Executives on getting a raise tends to lean in their favor.