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/smartypants333]

He probably will be vested with his employee match in 5 months.

Some companies will match, but you have to have worked there for a certain amount of time to be vested and be able to get the match.

[u/Rhynegains → u/smartypants333]

Yep, once I hit 100% match I hunted and walked.

[u/BoredofBored → u/smartypants333]

Also, some company's don't allow immediate participation. If you're someone that wants to max out the 401k each year, that could be a reason to stick with the current job until you hit the max for the year, then move on and not worry about being locked out.

[u/w88dm4n → u/BoredofBored]

Also, keep in mind that waiting on a 4% match vesting schedule is silly next to a 35% raise.

[u/Tighearnach → u/smartypants333]

Oh, fair play