Hi so I might be a little late for your meeting, but hopefully this is in time to provide perspective and especially to help you moving forward.
So first off, and this is very important, there are a LOT of layoffs happening right now in many sectors across the economy (worldwide) and it is a high interest rate environment. So I would be VERY cautious about trying to push for raises / better performance. Now you always can, it's your life, but I would be very cautious of pushing for more money right now or making many demands in general, or "rocking the boat" at all, and I would probably be more likely to defend myself a little (tactfully) if the review was saying you were not meeting expectations
Another factor is that the person that brought you into the company was fired, and it doesn't always reflect badly on you, but this can be a negative and you might (unfairly or fairly) be associated with a person that has been fired. So your manager's manager might somewhat dislike you just because of that (it's dumb but does happen and it's something to be aware of) so you might have to work extra hard to fight an undeserved slightly soiled
reputation
I think the other answers here have provided some really good feedback, and you should really keep in mind that some companies believe "meeting expectations" is practically the default and you have to be EXTREMELY high achieving to get beyond that (I've seen companies personally that can only give a three to one person in the entire department, and your boss needs approval from higher ups to do that). So some companies have an outlook that most people get "meets expectation" everybody gets basically a set raise and it is what it is. Paired with the fact that a lot of companies aren't doing well right now I wouldn't be surprised if having worse evaluations might be kind of a soft way of them limiting raises and it might not be personal.
Stick to just your work, get positive feedback, try to accept criticism gracefully "Yea I'll definitely try to be more organized! Thanks i'll definitely remember to finish this report earlier so the other teams have time to review, that is a really good point!"
And finally, I'll tell you this, if you think you might be underpaid or underpromoted, apply at other places, see if anybody is willing to pay you more after you explain everything you did last year. I've known people who complained they were "underpaid" tried to get jobs at other companies, realized that every other company was offering them less, and realized they were kind of OVERPAID. And just realize that sometimes in life we get passed up for promotion, for any lame reason (I've seen people at the same company be passed for a promotion because the company is "wanting people with more experience" they wait a few years and then the next time there are promotions they say "we want young fresh perspectives, sorry!", sometimes the boss's son will get a promotion, tons of dumb stuff happens).
And finally, we can't assess how well you have been doing since we don't actually know you, it's possible you are doing so well that they don't want to promote you because then they'd have to have somebody else fit into your roll, or maybe you aren't doing extremely above and beyond and the other people on the team are doing slightly better. Or maybe (rightfully or stupidly and wrongly) they think the other team members have more future potential than you and want to promote and invest in them more. We can't tell, and it's always hard to objective when it comes to ourselves but it is something to reflect on. And finally, if you really think you have the ability and potential and you really think this company is just getting in the way (although again these are not good times so it definitely is more risky) it's up to you to think if you can be better rewarded and further where you want to be in your career by just applying else where.
Good luck!
Sadly, since there's no useful detail, nothing in the exposition could ever be argued with, except whether the results reflected how hard you worked.
More detail might help…
– Robbie Goodwin Feb 18 '24 at 20:24