How To Ace Your Performance Review

The annual performance review can feel nerve-wracking, especially when you’re early in your accounting or finance career. Those butterflies in your stomach when you think about discussing your accomplishments or asking for that raise? Totally normal. And with thoughtful preparation and the right mindset, you can transform that nervous energy into confidence.

Let’s walk through exactly how to make your next review a success.

Know What You Want

Before we get into preparation tactics, take a step back and get crystal clear on your ideal outcome from this annual performance review. Are you aiming for an increase in compensation? Do you have your eye on a promotion? Are you interested in transitioning to another team or department within the company?

Here are a few questions you should think about:

What compensation increase would make you feel valued and motivated?
Are there specific projects or responsibilities you’d like to take on?
How do you want your role to evolve over the next year?
What skills or experiences would help you reach your long-term career goals?

Whatever your goal, defining it now will help you prepare strategically.

Come Prepared

Review success starts way before you enter that digital or in-person meeting room.

Reflect + Document

Take some time to think back over your work since your last review. As an accounting or finance professional, you might be tempted to focus on just the numbers—and yes, those matter—but don’t forget about your qualitative wins, too. Then, document these reflections in what we like to call your “Wins Worksheet” and “Fan File.” Think of these as your professional highlight reel.

Your Wins Worksheet should include:

Quantifiable achievements, like “improved report accuracy by X%” or “reduced month-end close time by Y days”
Project successes with specific outcomes
Training or certifications you’ve completed, like a CPA
Key contributions to team goals
Moments when you caught errors that could have been costly

Your Fan File should include:

Positive emails from colleagues
Recognition from leadership
Instances where you went above and beyond
Notes from satisfied clients (if applicable)

Review the Job Description

Job descriptions can’t list every duty, but referencing what’s on them can be helpful as a guideline.

Take a few minutes to list out:

Core responsibilities from your job description where you’re meeting expectations
Additional tasks you’ve taken on beyond the original scope
Any leadership or mentoring roles you’ve naturally fallen into
Process improvements you’ve initiated
Special projects you’ve been asked to join

If you notice a big gap between your official job description and your actual responsibilities, that’s valuable information to bring up during your annual performance review. It’s one of the strongest cases you can make for career advancement. A good example would be a staff accountant II training new team members, reviewing others’ work, or independently taking ownership of parts of the month-end close—all tasks typically reserved for senior accountants.

Review Previous Goals

Look back at the goals set in your last annual performance review. How did you do? Be prepared to show how you’ve met or exceeded those goals, explain any challenges you encountered, and how you tried to overcome them. Connecting your achievements to broader team or company objectives to demonstrate your commitment to your colleagues and overall organization is also a good idea.

Craft the Story

Numbers tell part of your story, but narrative brings it to life. Make sure you have 3-4 specific examples of major wins, 2-3 stories about overcoming challenges, examples of how you’ve grown professionally, and ideas for future contributions.

Keep a few key phrases in your back pocket to help you tell your story, such as:

“One project I’m particularly proud of…”

“An opportunity I identified and acted on…”

“A challenge I turned into a success…”

“Something I learned and applied…”

This structure provides a clear picture of your contributions and potential.

Prepare Mentally

Your mindset going into the review is just as important as your preparation. This isn’t an interrogation—it’s a two-way conversation about your growth and future. Take time to practice power poses before the meeting (yes, they work!), remind yourself that some nerves are normal, and show that you care! You should also review your wins to boost your confidence and prepare questions demonstrating your engagement.

The Day Of

You’ve done the preparation. Now, let’s ace the execution!

Before heading into your review:

Review your talking points one final time
Have your materials organized and ready
Take a few deep breaths

The Actual Conversation

Start Strong

The first few minutes set the tone for your entire annual performance review. Walk in (or join the video meeting) prepared and confident. This means having your achievements and discussion points organized, not scattered across multiple notes.

Your body language also matters. Maintain good eye contact, sit up straight, and remember that showing enthusiasm for your work isn’t bragging—it’s demonstrating engagement.

Consider beginning with something professional and positive, like:

“Thank you for taking the time to meet. I’m looking forward to discussing my performance and how I can continue growing with the team.”

Present Your Value

Now comes the moment to showcase your value!

The most compelling stories balance confidence with humility. So, instead of just listing accomplishments, weave them into a narrative that shows how your work impacts the bigger picture. Connect your wins to company goals, acknowledge how team collaboration led to success, and let your enthusiasm for your role shine through.

Here’s an example that quantifies the achievement, shows an understanding of business impact, and demonstrates an ability to improve core processes:

“One achievement I’m particularly proud of was streamlining our month-end close process, which reduced our timeline by two days and improved accuracy by 15%. This has given the management team more time for analysis before board meetings.”

Navigate Feedback

Receiving constructive feedback is a common, valuable part of growth. How you handle it is important because your response often matters more than the feedback itself.

Resist the urge to immediately defend or explain. Instead, lean into curiosity. Take detailed notes (you’ll want to reference these later), and ask questions that show you’re focused on improvement, not just defending your actions.

For example, if your manager mentions that your variance analysis needs work, you might ask:

“Could you walk me through what you’re looking for in these analyses? I want to make sure I understand the level of detail and insights that would be most helpful.”

If you receive challenging feedback, try this approach:

“I appreciate you bringing this to my attention. Could you share specific examples so I can make concrete improvements? I’d like to understand exactly where I can strengthen my work.”

Then, propose a follow-up plan:

“Would it be helpful if I ran my next few analyses by you before finalizing them?”

After the review, create an action plan based on the feedback and schedule check-ins to show your progress. This proactive approach turns constructive feedback into a career-building opportunity.

Make Your Ask

Now comes the moment—discussing your future!

Whether it’s a raise, promotion, or new opportunities:

Time your ask appropriately (usually after discussing achievements)
Be specific about what you’re requesting
Back it up with evidence
Show how it benefits the team/company

For example:

“Based on my contributions this year, particularly [specific achievement], I’d like to discuss adjusting my compensation to reflect these increased responsibilities.”

Final Thoughts

An annual performance review is just one conversation in your ongoing career journey. Use it as an opportunity to clarify expectations, set exciting new goals, strengthen your professional relationship with your manager, and plan your growth path.

Most importantly, be proud of yourself for preparing thoroughly and showing up ready to grow! Your career is a marathon, not a sprint, and each review is a milestone on that journey.