Hoe should I approach my looming annual review?
Hey all - my annual review is coming up and I'm in a bit of a weird position, and I thought managers would have great insight on how to approach.
Here is the general layout -
I have a lot of freedom at current role--fully remote, not micromanaged, mostly left alone so long as my work is done, good time off and benefits, and manager/coworkers are cool, workload is manageable.
On the other hand, I believe I am underpaid by a good 15% or so compared to the market. And I think if I looked, I could eventually find something that would be higher. But I am reluctant to lose the freedom and end up maybe in-office or hybrid, or micromanaged, etc.
Also, full disclosure, I've been at this company for a long time and have a weird history. I was part of a huge layoff a few years back (30% of staff) but I was the only person they offered a part time 1099 contract to stay half on board. Eventually that converted back to full time in a different, lower paid, role, where I am now. But we are busy and there's a solid amount of work on my plate and I have generally good feedback. But given the prior layoff, I don't feel like I'm top tier value to the company. They've obviously already slashed me once.
So my question is, would asking for 15% raise be too high, or some kind of red flag? Do I put myself at risk of coming in too high and being flagged for eventual cutting? My assumption is if I ask for 15% I might not get it, but might get 10%. Also, if I ask and they flat out say no and offer a much lower raise, then I kinda just feel unvalued and disrespected.
Part of the problem is I'm ambivalent about whether to stay in the cushy setup, or risk higher stress elsewhere for better pay, presuming I can even land something in this terrible market.
Not sure how best to handle this and would appreciate advice. I've been at one company so long that my interview/negotiation/etc skills have lost their edge.
FWIW - current pay is $100k - so the ask I'm considering would be up to $115k, hoping to at least land at $110k. And I'm in NYC, so COL is very high.