What exactly is a raise?

One was my first job out of college where there were defined promotion requirements and no raises outside of promotions.

Another job I had, I thought I was significantly underpaid. I made my case for a raise at my annual review. I was denied any raise beyond my col adjustment. I took that as my signal to leave and got a 30% raise by finding a new job. My manager (who was the owner) acted surprised when I resigned a few months after I'd asked for the raise

Now I'm in a pay band where I can get an additional raise based on performance subject to the "raise budget" my manager has. If I hit the top of my band or would want something more than my manager is able to offer I would need a job title promotion to be approved by his manager. Additionally, every year my company reviews what the market salary for my position is and they share that data with me. Looking around on sites like Glassdoor I would say their assessment of my job's value is a above average. Since I'm paid a competitive salary and I don't have any huge game changer type accomplishments here I have not asked for a raise beyond the cola.

/r/personalfinance Thread Parent