I have been promoted to a new position within the construction employer at which I am employed. At this time, they are unable to offer additional base salary. The HR Manager informed me that when my annual review period came due, after a performance appraisal I would be awarded additional income. My question is this- what is the standard pay raise in our economy today? I am afraid of asking for too much but would like to put this into my contract before accepting this new position. I am really excited about this opportunity and it would be a great asset to my career management goals.

Merit raises are solely based on the construction employer and the ability to increase salary based on the economy. Based on last years reports, very few construction employers gave significant increases due to the events of the past 12 months and the instability of our economy. In any case, keep this in mind when negotiating ? standard pay raises based on merit and the cost of living is about 4 to 5%. But before you throw out numbers, do your homework. Research the job market and what other construction employers are paying for the position that you are filling. This would be advantageous for you to bring to the table.