I was planning to ask my employer for a salary increase in the next few weeks. I was in the process of putting together some salary market research for comparable roles in my industry. (I believe I'm in the lower 25th percentile and would like to be in the top 50th percentile on average). This would amount to a $16K - $20K per year increase.
This morning my manager (along with his manager) called me into his office and expressed how happy they were with my work and that they really appreciate me. They offered me a $3,500 per year increase and had all of the paperwork ready to go.
I was caught off-guard and wasn't prepared for this conversation so I expressed how grateful I was but that, "I would like to take a couple of days to think about it". Obviously they both had perplexed looks on their faces and my manager said, "Well... Okay that would be fine I suppose.", and it felt like the meeting ended in an awkward way.
So my question is, would it be appropriate for me to now give them my market research and tell them I would actually like five times what they offered? (Obviously with better wording).
Some background if that's helpful... I've been with my employer for almost five years and we receive annual reviews & cost of living increases each January.
I was promoted to a supervisor position last fall but didn't receive an increase at that time. (In fact, in January I received a 2% increase along with most everyone else).
I get great feedback from the leadership team as well as my former coworkers who I now lead as a supervisor.
I've been working in the I.T. industry (software) for about 14 years and our company is doing very well.
Last year I declined several job interviews (and I suspect they would have paid more) because I enjoy this work environment and the quality of my coworkers.
I decided to follow Garrison's advice and the meeting was amicable. They understood my desire to take time to think and they were very gracious as I presented my research. I did not bring up past interviews I declined, and kept the topic focused on how I can "get to that mid to upper middle part of the salary bell curve". Unfortunately they disagreed with the accuracy of the research and told me they believe I'm actually paid quite competitively.
My next steps will be to accept the increase (which cannot be negotiated any further) and test the assumption that I'm already competitively paid myself in the marketplace. While I don't want to leave, I want to be paid fairly.