<Appraisal> Do salary negotiations work

The only correct answer is that it depends. On market conditions, companies cash flows etc. Speaking from the other side of the table, in present market conditions, it would have not worked if i was your manager. Earlier, we were asked to present a budget plan based on team expansion plan, goals for this year, hikes plan, etc. From the last 2 times, the budgets are given with instructions to operate within it. So, pretty much if I give you something extra, I need to deduct it from the rest of the team. In general, hikes were 10%.

Yes, you should have fair reasons behind the ask.

Back yourself with data and feedback of your respective stakeholders. The probability is less but it can pan out.