I worked here for about 10 yrs as a people leader. I can tell you the determination of your performance rating is often established prior to the completion of you writing your performance review. For ratings above “meets” requires an explanation. It’s very rare if anyone in the organization receives a “significantly exceeds”.
As far as compensation, the final decision on compensation may be subject to changes made by upper management after the initial evaluation by people leaders. People leaders sometimes aren’t aware this happens. This lack of influence over the ratings and compensation can be challenging for people leaders who strive to recognize and reward their team members based on their performance and contributions. Unfortunately, that’s the corporate world!
Reposting this from @bpim+1r5SeN2h for info.