In some organizations, compensation adjustments are communicated at the same time as the review. This can include merit increases (national average is 3.7 percent), bonus payout and stock grants.
What do you do when the pay doesn't meet your expectations? There are many factors that affect your individual compensation. Managers may have been given a limited budget to allocate, your company may not have hit its overall numbers or the payout is in stock instead of cash. The first thing to do is to clarify how the compensation was determined before expressing disappointment.
In some cases, you may have been given more than your peers or you might be at the top end of your salary band and your next move is a promotion. Once you have gained insight into how it was determined, you can evaluate if there is an opportunity to adjust. Many times, the performance review isn't the right time to negotiate a raise, because compensation is often already determined. However, you can outline with your boss a plan to get to a higher level and use this as time to set your goals and compensation expectations for the next review period.