Meaning of the word "salary review" in English

What does "salary review" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

salary review

US /ˈsæl.ə.ri rɪˈvjuː/
UK /ˈsæl.ər.i rɪˈvjuː/
"salary review" picture

Noun

a formal assessment of an employee's pay, typically to decide whether it should be increased

Example:
I am hoping for a significant raise after my annual salary review.
The company has postponed all salary reviews until the next quarter.