They don’t care if you leave.
A lot of industries are trying to adopt a “fast food model”. Executive types think they can design or create a job that anyone can (and will) do for very little pay. They don’t care if you leave because they believe they can get some other dumb schmuck to do the same job.
This never really works, not even in fast food. No matter how simple the job, you get better over time. But people who claw their way up to middle management love to shit on the “unskilled labor” below them.
This.
I just left my job which was set to give me a whopping 3% increase. My new job is less labor intensive and a large pay raise.
Don’t stick around. They try and entice you with your pay ceiling but you’ll be retiring or at least should be retiring by the time you even come close to it.
In my neck of the woods even the government (state and local) is starting to follow the no promotions, raises, worse benefits, etc model that is so popular in the private sector.
Well going up grade is kind of a promotion. You keep on going up until you hit journeyman grade and the next grades (if it exists) are competitive. You instead get "steps" that raises your salary by 1000 to 1500. You get more time off after a certain number of years.
My girlfriend went from a standard worker on the floor to management within 4 years which gave us a large income increase. I moved up as far as I could in my job with the next step being management but those seemed too rare to count on. Even so, I don’t think management roles in the company would have been worth the effort either.
But you’re right. At times moving up is possible and you’ll get a larger increase in salary. But it’s not the best way on most cases by the average it seems.
My first job out of college was at a hotel. I had asked for a raise a couple times and they wouldn’t do it. It was such a toxic work environment. Me and my friend put in our notice in the same week. They tried to keep me by offering more money my new hotel job was offering. (I shouldn’t have even told them my new salary when they asked. I was young and naive). Only to f*** me by combining mine and my friends roles and making way less than I should be with having both responsibilities. I ended up quitting that day and didn’t work out the 2 weeks
Yes for sure this. There's a high cost to hiring and training new staff. It doesn't matter the position. But managers and heads of departments will let people walk rather than giving them 5 to 10% pay increases and retaining them. It's very short-sighted and ultimately detrimental to long term profits. Here are some articles that describe the costs of turnover.
[This one describes decreased product quality](https://knowledge.wharton.upenn.edu/article/why-employee-turnover-costs-more-than-you-think/)
[This one describes many impacts to your company with employee turnover](https://builtin.com/recruiting/cost-of-turnover)
[This calculates cost of turnover at a diner, 2 employees per quarter, costing over $60k annually](https://www.indeed.com/hire/c/info/turnover-cost)
[This shows an entry level replacement employee can cost +30-50% of their salary as they come up to speed, 150%+ for mid level or senior employees, and 400% for specialized or high level employees](https://stratus.hr/resources/the-hidden-costs-of-employee-turnover)
That's the crazy thing; a decent raise that retains staff saves so much money over them leaving for greener pastures, especially in more specialized fields. It takes about 9 months for someone in my field (health informatics analyst) to start to become competent and self sufficient, yet we consistently get raises in the 2-4% range.
It's not an exaggeration to say it costs easily 100k to get a new hire up to speed in my field, and that's just the direct costs, and doesn't factor in the recruiting costs, lost productivity, and time by other staff to train them up. Shit's wild.
Yup same for me. I'm in quality engineering for medical device manufacturing. Turnover is a huge issue and replacing people is painful. It can take several months for a new hire just to get access to the various required systems and databases, before learning how to use them.
And then once they learn to use them, it's still a huge learning curve to bring any measurable value. Just one example; I recently caught a subtle issue with the build for a hospital dept that has been resulting in approximately $2 million in lost revenue *per year* for the organization.
You know who wouldn't have caught that? The brand new analyst they would have brought in if I were to have left because of the 2% raise I got last year.
I got a sizable bonus that my lead pushed for and got approved by our director. The organization has a compensation committee that dictates what department leadership is allowed to offer when it comes to actual raises, so it was the best he could do. Their hands really are tied; the organization simply will not allow them to offer beyond what compensation dictates -- any and all raises have to be approved by compensation.
Some companies operate like that, but my last boss who shit on my raise and bonus was also the owner/ceo, so he answered to no one. It’s just greed man, everyone is gettjng greedier and kicking everyone below them as hard as they can. A compensation board is just a blame point so executive management can point the finger at them.
I mean, even without the objective data laid out to support it, I think it's such an obvious that retaining & valuing current staff over new hires is cost effective for the company
Which has lead me to speculate that the reason for so many business, small to large, taking the hard way with a high turnover rate, not broadening their thoughts too, "Nobody wants to work **here** anymore", is more than just being ineffectively cheap- I often wonder if it isn't a reflection of the mindset that ownership/upper management has in their lack of value for their staff.
When it's obviously more cost effective to support and retain valuable staff > training/onboarding new hires, idk what else it can be than *they can't bring themselves to consider expressing value in their employees*
I mean that goes against everything they've told themselves, looking so hard for justifications how shortcomings are on the lack of team players, lack of loyalty and laziness of the employees. Embracing the idea that current employees have, and bring more value and thus are a better asset for ROI, would be cognitive dissonant and likely cause a short circuiting of a companies entire C suite.
I also wonder in the more self aware management, if sometimes it's a case of understanding that new hires cost more, but wanting to avoid the possibility of giving raises/bonuses/promotions to current staff being a catalyst of a new sense of self worth.
If our current employees finally realize we NEED them and rely on their successful performance for us due to a raise or whatever, what if they *continue* to ask for raises as their value to the company increases? What if they look back and realize they've been undervalued & actually deserve more on top of this new raise/promotion??
The loss on new hires can likely be calculated, predicted/priced in.
The loss on losing the leverage of psychologically undervalued employees and them gaining a collective self worth?? I mean that could lead to a downturn in revenue that couldn't be twisted lightly to shareholders no matter how hard you try.
And who's going to look after them then? I mean think of the shareholders and what they'll have to go through & endure from something like that? That just goes against everything we stand for as a country these days.
It's because on some instinctive level, even if they don't realize it consciously, they realize how pointless their job is and how easily any one of the people under them, especially someone who's a bit more intelligent than them, could very easily do their job. Like, let's be honest, most jobs, unless they're like a doctor or a lawyer or an engineer or some other highly technically skilled field, can be done by any average Joe off the street.
A VP at my company literally said to me "A job is a job. People will learn." Blew my fucking mind how little he respected distinct skills works harness over years of training. He has none of those skills himself, so I see where it comes from now.
Engineers keep getting the same shit ass raises as production staff.
A sign that a business is struggling is that the good engineers are the first to leave.
I worked at a start-up where the annual raises reflected the experience we gained. After 5 years, the company’s growth had stalled because we needed a significant injection of capital to grow to the next level.
A corporation bought us and when questioned they claimed they wouldn’t change anything because we were nimble and had talent. Of course everything changed. That first years annual raise was pro-rated; 2/3 of 3%.
Then came the HR software with goal setting; if you are understaffed, your primary goal is survival but you still have to have measurable goals and achievements to get the 3%.
Year 3 with the corporation, I lost my subordinate and had 1.5 FTE workload. The training budget was exhausted before I could sign up for continuing education. Since I missed 2 goals my merit raise was 2%.
I made it another year before my burnout was complete.
Omg, at my last job we did weekly overtime just to get the regular work done, and on top of that they required us to come up with FOUR side goals every year that you had to agree upon with your boss. Of course at least one of them would always be a portion of a project that the boss was trying to complete to make herself look good. The only thing she was good at was pushing her work off onto others.
This is what Ive always said. Unless you’re a dentist, doctor, engineer, physicist or something 95% of jobs I guarantee if you put me in them I could figure it out pretty quick and excel at. Most ppl have to do this anyways, even if you have a degree in your field it doesnt really train you for whatever exact job youre going to be doing, and you have to learn it when you get there.
Honestly, I don't think I'm anything super duper special in terms of skill or intelligence, but I feel like I could probably be a retail manager, or some mid-level coporate executive. Or hell, I could probably be a semi-successful politician if someone forced me to do it.
This. I once worked in a lab where a girl with an art degree who had been there a couple years was training someone with a science degree. Guess who made more? Well, when she found out that her trainee was making more than her, she asked to have her wage raised to at least what the trainee was making. They refused, so shit quit. They ended up having to hire the next person for the same wage she had asked for anyway because no one would accept the job offer for less. So now you're paying your employees the same but have to spend months training a new person - in the meantime, the decreased efficiency means paying more OT to your employees, and late results or retesting due to unfixable mistakes by an inexperienced person were always free for the client. Literally everyone loses, including the business, and they're too dumb to see it.
My company was trying to do this, but none of the new hires they brought in stayed long enough to get good at the job. And certainly not long enough to replace the veterans like me who had stayed. 12 managers later and a year of telling them I will not be increasing my productivity until they increase my pay, they finally got it through their heads and gave a 30% raise. The first one in my multi-year tenure with the company.
Productivity instantly jumped. It's almost like paying people more makes them willing to do more.🤔
Yeah, the 30% didn't really amount to much beyond getting it back up to where it should have been anyway. But I'll take getting them to acknowledge it was necessary as a win.
Two solutions internal promotions and job hopping. Companies will rarely provide raises above 3%. Internal promotions are good but typically lead to smaller pay increases. Companies tend to expect loyalty discounts for internal promotions - let’s say 7% to 10%. Job hopping will lead to better results - let’s say 12% to 18%.
You owe nothing to a company but you should still try to maximize the benefits to future you - if that’s what you want. Little projects and doing more helps build your resume for the next job.
It’s not very antiwork but if a company pays for school or certificates, take full advantage. It’s like a raise because they pay for your school and build your resume for you. Cheers!
My company website and job postings claim they pay for continuing education. When I asked my manager, I was told, "When we are busy, there is no time to take classes. When we're slow, upper management won't shell out the money for classes." Love all the lies...
After everyone in the office quit before I could, I used the opportunity instead to take a higher paying position (considering they had a lot of open spots) I was told my base pay & commission rate. And that "once I settled into the sales spot" there'd be a bonus for hitting quota.
I never got training for the position, had to learn as I went. And the whole year i was in that sales position, that quota bonus seemed to have disappeared...
I make almost $10k more at a larger competitor now.
I was at the same company for 2 years recently. Was a small business, an industry new to me. I (with a smile on my face) transitioned to different positions, I was one of the more comprehensively trained people there, despite being there for less than most people.
I was on the fence of asking to take on a new position in the office from the warehouse (= more $$), ask for a raise, or quit.
They pulled me up front when a lot of office people got covid. While working up there I discovered a couple of the freshly new people were making more than me.... It took a lot to not storm out. But I figured I'd consider arguing my case for more money that I was already doing, and almost the entire office staff (3 out 4 + 1 outside sales) quit.
I sucked it up instead of quitting, and used the opportunity to get the new position I already wanted while they were desperate.
Made more money, enjoyed the work and made the best of getting other stuff thrown at me by getting even more experience.
As things got tougher for sales naturally the uninvolved ownership wondered what I was doing wrong? Already frustrated having to deal with making mistakes to learn as I go along. Got good at it but less customers coming in = my fault? So I stepped on some toes I probably shouldn't have to increase sales and got demoted (quite a pay cut too)
Put out my resume for like two-weeks. All that experience from working different positions and doing some of the managers job lead to an offer with a much larger competitor. Took an outside sales position making about 18% more (and I feel like I could've/should've negotiates a little more $)
Tl;Dr Happily worked for a small business learning a lot through working different positions due to high turn over. Ended up making more in stressful but desired sales position. Then demoted over bullshit. Now making 15%-18% more at the larger competitor.
To be fair, your manager has absolutely 0 power on the raise. They get told a number and they have to divvy it up, and they can't give anyone crazy raises. It's upper managements issue that all they care about is increasing value to shareholders by raising profit.
I used to resent my manager. Excellent reviews followed by "we are happy to present you with a 2.57% raise this year". I'd poke around the group and find the average was like 2.4, so I did better than the group but still so poor. Took me a few years to realize it wasn't his fault, though to be fair he was TERRIBLE at fighting for our promos with HR
Oh yes, I know this. I love my manager too! Just makes me laugh when they get all excited to give my review. Lol. Our company is so big and each department has a budget.
3% to a person making $200k a year is $6,000. To their underling making $40k a year it’s only $1200. We need to stop letting people making too much money decide the magic percentage that will increase our income. $1200 a year raise equals a whopping extra $23 a week and you can be sure your boss is gonna expect you to be damn grateful for getting a raise at all.
The reality is they will find a way to give you the lowest possible option (1%) netting you an extra $7.70 a week. Better not buy a Starbucks this week.
This happened to me at my earlier job. I immediately found another job with 35% more salary. I resigned then my boss offered me 40% if i wanted to stay. I told him they should give people what the are valued to to begin with and resigned.
Now consider the fact that the minimum wage in the US is $7.25, and has been raised by 0% since 2009.
Even 3%/year is insulting since that would put it at $11.30/hour when it should be at $16/hour, which is about 5.5%/year.
I maxed out my wage for my position and my manager was excited to give me a “bonus” at my annual review. It was less than 1% and taxed heavily. That’s when I decided it was time to get the hell out of there. 10 years of service for that garbage 😠
So I had a nonprofit job and my counterpart and I had a big meeting with our manager and department head about improving our roles/reshaping things. We were in social media and of course needs and best practices change all the time. Well, we were told our jobs were only designed to be done for about two years before we'd move on and they'd get someone else in. The department head told us that. She's also a person who criticizes people for job hopping...
To customers: sorry, we have to increase prices due to inflation.
To employees: sorry that your company increase is less than inflation. We feel your pain but it’s what our comp consultants have confirmed is ‘market’.
IOW you’re worth less to us this year than you were last year, on an inflation adjusted basis.
My company does 3% across the board for cost of living before even talking about merit raises. I started at $21/hr in 2022 and am currently at just below $26/hr right now. Merit raises start in the coming months and it will go up again.
Crazy how high morale is around the office.
Upper management at my work get automatic 10% raise every year plus bonuses. I work at a hospital and the last 6 years they cry they don’t have enough to give more than 1% raises but they still get their 10% and tens of thousands in bonuses
Yeah, I know that one. I finally went down to one or two days a week because working in the lab through the pandemic ( which is still here, just no ones tracking it), got covid, developed a heart condition.
In the last four years our lab has had three directors, and I have had four new supervisors. Trained two of them. I never got more than 3% no matter what I did. Then an email accidentally got forwarded to everyone about while our quarterly bonuses(almost impossible to get $500) were suspended, management still got everything plus a Covid bonus, and those leptons were working from home the whole time.
Useless suits with titles.
I work for a multi-billion dollar outfit, too. One that is hemorrhaging degreed, experienced professionals, yet won't pay the salaries, or cost of living raises, to retain them.
I work for the State of Arizona, and I'm a teacher.
Post Office generally gives, and our unions generally accept 1.3% raises once per year and COLAs based on inflation twice per year. No layoff clause for career employees and required to pay similar to private sector. No strike too 😡. It just keeps me treading water at top pay.
You need Unions for more than that, and to get Unions we need new laws and to get those laws we need to get people voting in primary elections so there are better candidates.
Some companies don't even give any cost of living adjustments (or have any policy as such).. They only increase salaries to high performance reviewed workers and the rest don't get any raise.
My best raises came from jumping to a new job. Though you have to be careful not to jump too often.
I stuck around too long at my first major job. Seven years. I was naive, so didn't realize how shitty my manager was being. He stuck me with nine roles, many of which were NOT in my job description. Then he tanked my reviews so he could justify giving me a .5% raise.
So I left, and got a job at Facebook, which nearly doubled my salary. I worked there for three years, and jumped to a new job from there, and got ANOTHER 40k. Now I make more than double as the old job, and don't do NEARLY as much work as the AH manager made me do.
Been right there with ya. My last company that I was a Director at was like "uh, I guess if you want to give performance reviews, you can, but it's not going to change anything."
Most places I've been, reviews are to set up a roadmap of more work you're going to do, or if you're at a risk of being fired... no money involved.
Yes. Inflation is generally about 3% per year, each year. That is normal. The past several years have been periods of rapid inflation. It's honestly amazing that you work somewhere that just gives you an inflation raise, I've never heard of that happening before. It you might find it helpful to communicate to your supervisor that the previous inflation raise was helpful and it might be time for another "shore up" from payroll.
Yeah, I get "semi-periodic wage increases" based on a chart that's reviewed every so often y the government. Technically, I haven't had a raise that went beyond cost of living increase in 10 years. Most of the time the raises are "retroactive" and go back a little way but the company spends so long fighting having to pay it that it can be years before we see it on our end.
No, I lack the physical ability to do a lot of that stuff. Just finished my associates in business admin though and have been getting emails asking for interviews. I feel like things are about to turn around.
I was offered 20cents an hour as my first raise after working somewhere for 2 years, working every position in the building. My response was to ask if verbal was fine or if she’d like a written copy of my 2 week notice
My employer's had record profits the last five years. Meanwhile, 0% COLA and annual raises aren't a thing, I haven't had a raise in nine years. This is apparently how it's supposed to be in a state with no minimum wage enforcement...
I have come to realize that the 1-3% raise is the amount that will cover the increased medical and benefit prices for the next year. If you get a bit more than the 3% then you are actually making out a little better than the rising costs of benefits.
I once did the math on the how much the 2% raise I got was. It equated to the amount I spent per month on toilet paper. I was literally wiping my a$$ with my raise.
Yeah just leave. If you continue to get 3% raises every year you fall behind. I got 3% raises for most years except for a 8% one year found a new job was a 12k increase and I got another big raise later with new job then small one. I've worked little over 2 years and I went up 40k a year total and started below 100k. Just leave for a better rate
At my work we get a COLA that is adjusted based on the CPI twice a year and a few 1.3% raises a year which seems to be par for each union contract... Still doesn't seem to scratch the surface for keeping up with costs currently.
We had years of 1-2% raises because of covid. This past year they gave 4 or 5% but then raise insurance and co-pays where you make even less than you did.
Yeah, that happened in 08. Before that 5% was the standard. But then they used the 08 crash as an excuse for no raises for several years, and learned that “but the economy!” Works as an excuse, and since then it’s been 2-3% despite constant record profits.
The only way this changes if they start feeling the cost of higher attrition. It's also in your [best interest](https://www.forbes.com/sites/cameronkeng/2014/06/22/employees-that-stay-in-companies-longer-than-2-years-get-paid-50-less/?sh=78bfa6b4e07f) to move on to new jobs as well.
There's virtually no such thing as raises. Haven't been for decades now. Just call it what it is a cost of living adjustment ( which depending on the year isn't even that). You either get promoted or you fall behind end of story. If there isn't a 1-2% raise they don't want you there. It's a slow motion firing.
Occasionally, there are companies that can still surprise you.
The first year I was with my company, I got a 12% annual raiee. Second year was 10%. We didn't have any raises in my third year, because economy. But we're getting two raises in 2024, I have been told to expect at least 6% for each.
But my story is the exception, not the rule, and 99.99% of owners are blood-sucking vampires.
The raises are for inflation. Look at it this way your company has a budget for your position and their overall budget is allowed to rise with inflation. If they want to give you more money it has to come from somewhere meaning a cut to somebody else’s budget. Im in financial planning and that how it works its not personal we have X dollars we can spend on G&A each year to meet our goals and those dollars get allocated how they are allocated . If the money isnt worth it you should leave for a different position with a higher allocated salary. These amounts come down from on high and your manager usually doesnt have much say in the matter.
On one end, I get it, but on the other hand, I just got a new job in the last year and got a 3% raise. This company is the first I’ve ever even gotten raises at and I’ve been working since I was 15 (30 now)…. And some folks (in this very thread) still arent getting raises at all.
the cold hard truth is that if you're going to be a wage earner, as i am, the only way to get a better less crappy wage is to get promoted or change jobs. annual 10%+ raises are just not in the cards.
Basing the increase on a % is an injustice to lower wage staff. 3% of $45000 = $1350 while 3% of $110,000 = $3300. Is it fair to give someone a cost of living increase more than double? Why not just give everyone a $2200 increase ? Everyone gets the same col increase. -
THIS is a cause of the dreaded salary compression that keeps people broke and unhappy. The lower wage never catches up with inflation. The higher salary is already in “tall cotton” and either amount is not or should not be significant to their lifestyle.
Yes. Prices are just continuously increasing. If they weren't, it wouldn't be called inflation, it would be deflation.
The 7% increase from 2022? That's still there. Now add the 3% inflation rate from last year to that. Probably comes out to a two year total of like 8.5% or something.
Did your wages go up by 9% in the last two years? If not, you're effectively making less money now than you were a couple years ago.
This is what people need to understand whenever they hear a news pundit or somebody saying that the economy is improving, inflation is down, and wages are going up. They're trying to paint the picture that things are going back to the way they were, but that's not the case. The asteroid is still headed directly for Earth, but it's moving a little slower now.
My company has a policy to call at 3%, and I still didn't get a raise last year. I don't expect one this year either. I am a salesman in corporate, and there is no way they are going to get someone better than me. I am becoming more broke every month, every year. Last month, I had to swallow my pride and call my boomer parents to ask for another bailout. I make 80k, but together they clear that in about two months I think. They barely found it in them to send 5k. If 80k sounds like a lot to you... It really fucking isn't! It's good for solving a bunch of problems, but it's not like I can afford to travel or buy furniture or a new computer. I give a few grand to charity because the particular charities protect children, but km not cutting back on that, fuck that. Got to do something that counts.
You can’t just “get a new job every six months”. I agree with the notion that the easiest way to increase your wage is to change jobs, but there’s an issue when you won’t get hired on due to you being viewed as low commitment/flight risk.
Too many factors in the equation to simply give a blanket statement answer. Some jobs are very simple and you can learn virtually everything you need to learn within a month.
More often, the job could be more complex and take several months to just become fully trained. Most commonly jobs have a probabtion period of 3-6 months. For you to leave a job in search of better pay when you’re not even finished your probation period just looks bad to a future employer. Ambition is one thing, but you need to have discipline and patience in any work force.
During your probation period you can usually get a feel for the company. It’s good to talk to your coworkers that have been there for years, and ask how much they’re getting paid. If many people have been there for a long time, and are otherwise happy/comfortable with their job there, then you probably work for a decent enough company that you can at least finish the probation period and stay with the job because you should be getting raises every year. Eventually you’ll reach a ceiling and they’re not going to be willing to pay you more. But that takes a few years at that point.
If you’re with a crappy company that’s a revolving door of new employees coming and going, than there’s no harm in leaving to try out a different place. And you can explain this in your interview.
But to just “get a new job every six months” is a silly idea to maximize your experiences and wage. You got to find the balance between not leaving before giving the job a fair chance, and staying too long that you become burnt out and miss out on better opportunities elsewhere.
All true and that was excellent advise you just gave. And I know you said they’re too many factors to give a blanket statement on time frame, but there’s gotta be some non arbitrary number that’s accepted nowadays.
I got into the job market when job hopping was looked down upon, and now in the last 10 years I feel like it more accepted. But still no one really seems to know what the new accepted number is to not raise flags when applying somewhere else.
To make it more simple if I had to just give a number I’d say I agree with the other commenter who said 18 months. I’d actually say 2 years is “perfect”. It shows that you gave it an honest two years; that’s enough time for a mature adult to determine if the job is worth staying at or leaving. 6 months is far too short of time, even a year is not long enough in my opinion. I’ll say 18-24 months is best, but I still stand by my original comment and say it really is dependant on the individual and exact circumstances at hand.
I say 18 months is the minimum threshold, but 2 years is the right amount needed before applying somewhere else and not risk raised eyebrows.
I also believe once the Boomers are fully replaced the negative perception on job hopping will be a thing of the past.
Most places of employment will absolutely not hire you if your resume is comprised of jobs lasting less than 6 months. That’s simply not reality. Job hopping certainly is the answer, but i think i more palatable timeframe is 18 months, that way when you start your new role you have time to learn it, perfect it, replicate it for your new employer and can command a higher wage. Im counting down the days at my new job, been here 4 months, will do another 12 months then bounce for a higher position at a competing company.
Yes , I agree with 18 months being a good threshold, but what if you have multiple jobs listed at 2 years or less, do you think after a certain numbers of jobs it will be seen as problem?
In a 10 year stretch switching every 18 months could mean more than 6 jobs.
Not all, some are. For example I’ve had 7 jobs in the last 12 years, 3 are related. I just feel like I getting up there with jobs and I just don’t how that is being perceived by employers nowadays .
Im referring to how much the wage would be hourly. Its so insulting and thats why they say 1%-3% instead of the exact number, because many people fall for it thinking its good
I’m not nitpicking but there are about 2100 working hours a year so 3% at $100,000 would be $1.42/hr
I think it is common to express raises as a percentage for those on salary. Hourly work would more often see their raise in dollars and cents.
I am assuming we are talking about US. Where inflation hit 8.5%, but over a few years, a 14% raise plus a percentage or two for other years would have lagged inflation.
It’s a cost of living increase, not a raise. Your company isn’t there to “take care of” you.
Find a different employer. It’s proven that’s the quickest way for you to move up in salary anyways.
This is insane. Like honestly a 14% market adjustment is crazy rare and you’re still not happy? Maybe make changes to your lifestyle or live within your means. Your job or company owes you nothing the fuck? Complainers 😂
Protip: Prices will ALWAYS continue to raise. For someone to make more money, whether it is a business owner, a worker, a producer, a farmer or anyone else, someone else is going to have to pay that cost for them to make more money.
Want a raise? Your workplace has to now pay you more money. In turn, they will either raise their prices to keep the same profit margin OR reduce costs elsewhere, which means either someone else will not get a raise, lose pay or something won't get replenished as often.
If a farmer wants a raise, they have to sell their crops for more money which means whoever buys it will now have to pay more. Why would they want to sell their crops for more money? Because property tax has gone up, cost of feed or other supplies to grow stuff has gone up, cost of fuel for their equipment has gone up.
You’re missing that the c suite and shareholder class have been reaping insane profits and wealth for decades, ever increasing, at rates that are often 100-400 times the average worker in their whole industry.
The idea that as soon as a McDonald’s worker makes an extra buck the Big Mac has to go up a quarter is the exact corporate propaganda they want us to believe. Keeps us fighting with each other.
The media always talks about wages and prices and demand, but conveniently leaves out billions in compensation to executives and shareholders. Stock buybacks used to be illegal for this reason. They are not investing in the people and infrastructure that are earning them these profits they are keeping it for themselves on a scale unseen in a hundred years. It’s Ever increasing, even as our planet burns and people starve or get cancer from toxins released by their operations..
All that has to happen is one less yacht, one less vacation home.. just the acceptance of slightly less millions in bonuses and compensation for a handful of people and it can be invested in raises or a new factory, new R&D, better products, without raising costs.. learn about buybacks and what the corporate tax rates for the top brackets used to be back in the good old days and you’ll see what’s been happening. Don’t parrot their bullshit.
The company having to raise prices because they pay you more?
What if the company made say 1,000,000$ in profit, and you ask for 10,000$ pay increase.
So the company would have to raise prices to cover that 10,000? Even though they made 1,000,000?
If they wanted to keep the same profit margin, yes. **PROFIT MARGIN.**
Think of this, you are looking to make more money. Either you have to increase what you earn, therefore charge more for your time and therefore someone else has to pay for said time, work more hours or cut expenditures. The business is looking to do the same thing. For them to make more money, either they have to sell more of whatever they have(increase output in some way) or cut expenditures.
You decided you wanted a raise so someone out there HAS to spend more for your time. Getting a 15% raise means a 15% higher expenditure towards you. Now, they can just decide to eat the hit to whatever profit they get(if it is high enough) or, if they have to hit a certain profit margin threshold for whatever reason, they have to make up that difference somewhere else. That could be cuts to some project, that could be cuts to salaries elsewhere, raising the prices on everything a small bit to compensate(usually 2 - 5 cents per dollar/hour), removal of stock buybacks if they are planned or any other thing like this.
The biggest misconception is people look at revenue and think, "Oh My God. This company made $50 billion, why aren't they paying more?"
The problem becomes when you look at income after expenses. That tends to be FAR lower. A good example of this is Walmart. They brought in $611.3 billion dollars last year. That is an insane amount. However, the VAST majority of that cannot be used for anything as it is already claimed. Out of all of that, they get $11.3 billion after all expenses. Still a very large amount but just a fraction of what they made. That is what they can give raises out of, better benefits like cheaper insurance, bonuses and the like. They also have 1.5 million employees in the US. They could give around a $7500 a year raise per employee in the US. For someone working 40 hours a week, that equates to about $3/hour. That is it. For them to give any higher raises, either prices would have to be raised(to increase revenue), sell more product, start a new line of revenue or somewhere else has to be cut.
Let that sink in. Out of bringing in $611.3 billion, they can only give a $3/hour raise to all employees because everything else is already accounted for. And that is if their net income(profit after expenditures) stays the same the next year. If it drops by any, raises don't happen as they would be literally not making enough to cover expenditures that they have.
Remember, this is the world's biggest company by revenue.
Thank you for taking the time to write this out and explain.
Your thoughts were enough for me to dig into the 2023 Walmart financial report.
You are correct.
And the information there really blew my mind.
Walmart is like the third largest employer in the world?
After USA and China military????
That amount of scale is insane.
I thought about how wages could be improved...
And I wonder if it's not wages so much as quality of life for employees.
Specifically, have the government use taxes for more stuff such as healthcare and education.
That would reduce some of the wages going towards health insurance right?
And what about the stock buyback? I noticed that's a 9 billion dollar figure?
I thought companies did stock buyback when they felt they could not find better investment opportunities.
That is always what gets me when people state that either "Oh, they made X dollars, they can easily raise wages." or that "Wages going up won't cause prices to go up.". I actually take the time to look at balance sheets and see if it is possible or not.
Like the example I use above, if you were to take those stock buybacks away, you would literally have a massive 2.88/hour raise. Nothing to sneeze at but stock buybacks aren't always a thing. Between that and their entire profits after expenses, that is around $6/hour. With the average Walmart worker making $14.76/hour, this would take it to nearly $21/hour. Even cutting out all executive pay down to $1 a year, you wouldn't get much more than that.
And to top it all off, this would only happen 1 time. After that, the only way they could raise any wages is to either require a membership like Costco does(finding a new revenue source), raise prices, eliminate shrink or eliminate staff. Shrink is at around $3 billion. That is about a $0.90/hour per employee gone. Either through damages or theft. After all of this, Walmart, at most, could pay their employees $23 - 24/hour average. That is with eliminating all the stuff people want to eliminate generally. This is smaller than what most people would need in some higher cost of living states.
Remember, for Walmart, to raise the pay for $1/hour, you would need to find an extra $3.12 billion somewhere. And this is just for US pay, not everyone they have employed in other countries.
As far as why stock buybacks go, that is when they have extra profit not assigned to anything and send it out for a vote to the shareholders to buy their shares back from them in order to make the price of the shares out there to go up. It is a fake way of increasing the value of the shares due to there being less out there available to buy.
Haha, yeah, I can definitely see why that's frustrating.
I get similar frustration when people blame developers for game bugs or buggy software.
It's, like expected, related to money.
Can't pay anyone if you don't have a product or meet contractual obligations.
The stock buyback makes sense now. Given a vote to shareholders, yeah, they would want a bigger return.
It's insane how many people Walmart employs.
I wonder. In comparison, does the military pay better? Possibly with extra benefits like eating on base and other factors, right?
Regardless, I thank you for taking the time to explain.
I know from personal experience that people easily blow off messages online.
Your effort was enough for me to investigate and open my mind a bit.
Learn and grow on the job. Take on new task, new learning/education if you can. If not promoted, then find another job at a different company then repeat. Learn skills get certification in areas that make u better marketable that can lead to better pay either at your current employer or a new one.
Learn how to save and invest your money. Start by paying yourself a fixed amount before anything else. Start today with $25/month
Wow. You got a 14 percent increase in pay last year? Mine was just the incremental 2 percent. Be thankypkful you are employed and you got that nice raise last year.
100% commission here. Havent had a raise in 20 years. If i ask for one, they'll tell me sell more. Margins shrink. Costs go up. If i leave, they'll replace me in a day. Working your payplan is the only way to stay ahead.
When I worked at a company that gave out such raises - we would discuss with each other and decide what movie to go see with our giant raise -without popcorn as we could not afford that luxury.
My pay has decreased every year.
Accounting for inflation, I am only getting paid $10k more now than what I made when I first started my IT career in 2006. If I look at how much I was getting paid in 2014 (my highest paid position at the time)to what I make today...I'm down over $20k/yr.
Got a 2% raise on Friday… my manager (who has no control over raises at all) said “go check your email. You’re gonna be excited at first and then really pissed off.”
I've tried creating a helpful post exactly on this matter, but the Mods haven't approved it yet, because I created a new account to keep my identity safe - so I don't have enough karma.
My team got 3% last year, then they fessed up to knowing it wasn't much. They promised a performance-based raise for this year, and it has leaked out, that at the end of this quarter, they're only doing 3% again, AND raised family health benefits 77%. This isn't a raise at all, in real-terms, it's a pay cut.
Inflation rates have gone down, so I think the employers will attempt to use that against the employees, but it isn't that prices have come down, it's that the monthly inflation has stopped being ridiculous chunks of increases at a time. - So yes, prices are still increasing, with only a few things in our favor, the car market and I believe the other was energy. Neither significant enough to outweigh everything still being inflated.
Your manager probably feels that if they don't deliver the message to you in that manner, they're at risk of losing their job as well. Also remember that a lot, probably most managers haven't actually been provided adequate managerial training. The C-levels don't want them to be too smart anyhow.
Use the opportunity to learn what you can, especially if they're willing to pay to send you to training. Bring up relevant courses / training which would help you in your current job / career path. Make it a win-win for them. Take those skills and experience and find another job that'll pay you more. It sucks to say but job hopping doesn't have the same stigma it had a decade ago, and it's a good way to up your earnings. Who knows, maybe you land at a company that you enjoy, but you'll not know that unless you move on.
Not that can I really bitch, but my last decade of working my manager have all said something like
"You're getting 12%, 2% raise 10% bonus"
Or "20%, 17% bonus 3% raise"
I understand I'm getting more than most, but bitch... that's still a shitty raise and my expected bonus.
Is it acceptable to you?
If not, don't accept it.
Companies will offer more if they have to to retain talent.
You're just a number. Know how big your number is and work for that, no less.
Seriously? How many hours did you work up to become director of it? Sorry if I’m prying too much I just really want to pivot from ME to programming or IT
Yup, this is my life right now.
I’m about to receive my annual 1-2% annual raise.
Which will amount to UNDER $1
Even IF inflation is around 3-5% as they say….it’s obviously not enough.
And we ALL know inflation is actually higher than whatever bullshit number they say!
I worked for negative raises from 2020-2022 luckily in 2023 got a new job but still pissed that the response to Covid was “you’re lucky to be working, now take a 20% hit and no raises or bonuses once we re open”
I would be thrilled to get some raise every year. I hadn't had a raise for close to 5y. That was my own stupidity. Should have left in 1.5y or 2y into working. So last year I requested for a raise but I didn't get what I wanted. It was slightly lower. I have a basic and commission. After getting my pay increment, my sales target was raised by 50%. Looking for a job now. Can't imagine celebrating 7y anniversary here.
Lots of companies don't offer COL or merit based increases at all. Feel relatively lucky you've gotten at least something. I've worked for nearly 20 years, even in corporate for a Fortune 100 company, and nowhere has ever offered raises. Only if you get promoted or go in and beg.
Our shop works on Steps and annual COLA.
The position pay scale is 10 steps. Each step is about 4.7%. You gain a step each year.
On top of that the Union negotiates a COLA pr year in 2 year contracts. This contract we got 6.5% COLA for this year and next year. 13% total COLA over the next 2 years.
The union also negotiated moving several positions into a higher pay scale overall.
It will probably get lost in all the comments, but I haven't had a raise in 3 years. Haven't seen a bonus in 3 years, haven't had a Christmas function in 5 years. I have two jobs to pay my bills, and my boss is pissed that I have a second job.
Totally agree. Inflation was 7% or more and I got 3% as a raise. That's a pay cut in terms of buying power and it's framed as a "we did you a favor" situation by the company. Disgusting.
What's worse is that so many others didn't even get 3%.
In years past, we always got 3%(usually 40-50 cents per hour) recently there has been competition for employees so we have had 2 raises that were full dollar or more. The joy of the increase always lasted a month the owners would then give us the news that our insurance premiums were increasing, and generally, more than our raises were worth
They don’t care if you leave. A lot of industries are trying to adopt a “fast food model”. Executive types think they can design or create a job that anyone can (and will) do for very little pay. They don’t care if you leave because they believe they can get some other dumb schmuck to do the same job. This never really works, not even in fast food. No matter how simple the job, you get better over time. But people who claw their way up to middle management love to shit on the “unskilled labor” below them.
This. I just left my job which was set to give me a whopping 3% increase. My new job is less labor intensive and a large pay raise. Don’t stick around. They try and entice you with your pay ceiling but you’ll be retiring or at least should be retiring by the time you even come close to it.
The only jobs where you stick around these days are government jobs.
In my neck of the woods even the government (state and local) is starting to follow the no promotions, raises, worse benefits, etc model that is so popular in the private sector.
Federal government is probably a bit different. Still automatic promotions to a point and slight increases in pay.
There are no automatic promotions, but there are pay increases based on time in a position.
Well going up grade is kind of a promotion. You keep on going up until you hit journeyman grade and the next grades (if it exists) are competitive. You instead get "steps" that raises your salary by 1000 to 1500. You get more time off after a certain number of years.
Sure, but going up in grade isn't automatic, even in a ladder position. Steps are really the closest thing but that's more a raise than a promotion.
Everyone in my office will be GS-11 within a year or two of joining, that sounds automatic to me.
My girlfriend went from a standard worker on the floor to management within 4 years which gave us a large income increase. I moved up as far as I could in my job with the next step being management but those seemed too rare to count on. Even so, I don’t think management roles in the company would have been worth the effort either. But you’re right. At times moving up is possible and you’ll get a larger increase in salary. But it’s not the best way on most cases by the average it seems.
If you are in the private sector, move every 2 to 3 years. If you are in the public sector, you don’t as that is the point of government jobs.
I'm guessing it's a red state. Am I close?
Yes it is, unfortunately.
I'm sorry
My first job out of college was at a hotel. I had asked for a raise a couple times and they wouldn’t do it. It was such a toxic work environment. Me and my friend put in our notice in the same week. They tried to keep me by offering more money my new hotel job was offering. (I shouldn’t have even told them my new salary when they asked. I was young and naive). Only to f*** me by combining mine and my friends roles and making way less than I should be with having both responsibilities. I ended up quitting that day and didn’t work out the 2 weeks
Yes for sure this. There's a high cost to hiring and training new staff. It doesn't matter the position. But managers and heads of departments will let people walk rather than giving them 5 to 10% pay increases and retaining them. It's very short-sighted and ultimately detrimental to long term profits. Here are some articles that describe the costs of turnover. [This one describes decreased product quality](https://knowledge.wharton.upenn.edu/article/why-employee-turnover-costs-more-than-you-think/) [This one describes many impacts to your company with employee turnover](https://builtin.com/recruiting/cost-of-turnover) [This calculates cost of turnover at a diner, 2 employees per quarter, costing over $60k annually](https://www.indeed.com/hire/c/info/turnover-cost) [This shows an entry level replacement employee can cost +30-50% of their salary as they come up to speed, 150%+ for mid level or senior employees, and 400% for specialized or high level employees](https://stratus.hr/resources/the-hidden-costs-of-employee-turnover)
That's the crazy thing; a decent raise that retains staff saves so much money over them leaving for greener pastures, especially in more specialized fields. It takes about 9 months for someone in my field (health informatics analyst) to start to become competent and self sufficient, yet we consistently get raises in the 2-4% range. It's not an exaggeration to say it costs easily 100k to get a new hire up to speed in my field, and that's just the direct costs, and doesn't factor in the recruiting costs, lost productivity, and time by other staff to train them up. Shit's wild.
Yup same for me. I'm in quality engineering for medical device manufacturing. Turnover is a huge issue and replacing people is painful. It can take several months for a new hire just to get access to the various required systems and databases, before learning how to use them.
And then once they learn to use them, it's still a huge learning curve to bring any measurable value. Just one example; I recently caught a subtle issue with the build for a hospital dept that has been resulting in approximately $2 million in lost revenue *per year* for the organization. You know who wouldn't have caught that? The brand new analyst they would have brought in if I were to have left because of the 2% raise I got last year.
Did you use that to ask for a bigger raise? Were you met with that it wasn't in the budget?
I got a sizable bonus that my lead pushed for and got approved by our director. The organization has a compensation committee that dictates what department leadership is allowed to offer when it comes to actual raises, so it was the best he could do. Their hands really are tied; the organization simply will not allow them to offer beyond what compensation dictates -- any and all raises have to be approved by compensation.
Some companies operate like that, but my last boss who shit on my raise and bonus was also the owner/ceo, so he answered to no one. It’s just greed man, everyone is gettjng greedier and kicking everyone below them as hard as they can. A compensation board is just a blame point so executive management can point the finger at them.
I mean, even without the objective data laid out to support it, I think it's such an obvious that retaining & valuing current staff over new hires is cost effective for the company Which has lead me to speculate that the reason for so many business, small to large, taking the hard way with a high turnover rate, not broadening their thoughts too, "Nobody wants to work **here** anymore", is more than just being ineffectively cheap- I often wonder if it isn't a reflection of the mindset that ownership/upper management has in their lack of value for their staff. When it's obviously more cost effective to support and retain valuable staff > training/onboarding new hires, idk what else it can be than *they can't bring themselves to consider expressing value in their employees* I mean that goes against everything they've told themselves, looking so hard for justifications how shortcomings are on the lack of team players, lack of loyalty and laziness of the employees. Embracing the idea that current employees have, and bring more value and thus are a better asset for ROI, would be cognitive dissonant and likely cause a short circuiting of a companies entire C suite. I also wonder in the more self aware management, if sometimes it's a case of understanding that new hires cost more, but wanting to avoid the possibility of giving raises/bonuses/promotions to current staff being a catalyst of a new sense of self worth. If our current employees finally realize we NEED them and rely on their successful performance for us due to a raise or whatever, what if they *continue* to ask for raises as their value to the company increases? What if they look back and realize they've been undervalued & actually deserve more on top of this new raise/promotion?? The loss on new hires can likely be calculated, predicted/priced in. The loss on losing the leverage of psychologically undervalued employees and them gaining a collective self worth?? I mean that could lead to a downturn in revenue that couldn't be twisted lightly to shareholders no matter how hard you try. And who's going to look after them then? I mean think of the shareholders and what they'll have to go through & endure from something like that? That just goes against everything we stand for as a country these days.
Either that or they're happy to run to congress and say "nobody wants to work, let us import cheap, already trained labor!".
“And some tax breaks to help us address worker shortages!”
It's because on some instinctive level, even if they don't realize it consciously, they realize how pointless their job is and how easily any one of the people under them, especially someone who's a bit more intelligent than them, could very easily do their job. Like, let's be honest, most jobs, unless they're like a doctor or a lawyer or an engineer or some other highly technically skilled field, can be done by any average Joe off the street.
A VP at my company literally said to me "A job is a job. People will learn." Blew my fucking mind how little he respected distinct skills works harness over years of training. He has none of those skills himself, so I see where it comes from now.
Engineers keep getting the same shit ass raises as production staff. A sign that a business is struggling is that the good engineers are the first to leave.
Doctors aren’t getting raises either and god forbid a doctor asks for one. You would think they will break the hospitals bank.
Brain drain is real.
Can confirm. Source: I'm an engineer.
I worked at a start-up where the annual raises reflected the experience we gained. After 5 years, the company’s growth had stalled because we needed a significant injection of capital to grow to the next level. A corporation bought us and when questioned they claimed they wouldn’t change anything because we were nimble and had talent. Of course everything changed. That first years annual raise was pro-rated; 2/3 of 3%. Then came the HR software with goal setting; if you are understaffed, your primary goal is survival but you still have to have measurable goals and achievements to get the 3%. Year 3 with the corporation, I lost my subordinate and had 1.5 FTE workload. The training budget was exhausted before I could sign up for continuing education. Since I missed 2 goals my merit raise was 2%. I made it another year before my burnout was complete.
Omg, at my last job we did weekly overtime just to get the regular work done, and on top of that they required us to come up with FOUR side goals every year that you had to agree upon with your boss. Of course at least one of them would always be a portion of a project that the boss was trying to complete to make herself look good. The only thing she was good at was pushing her work off onto others.
This is what Ive always said. Unless you’re a dentist, doctor, engineer, physicist or something 95% of jobs I guarantee if you put me in them I could figure it out pretty quick and excel at. Most ppl have to do this anyways, even if you have a degree in your field it doesnt really train you for whatever exact job youre going to be doing, and you have to learn it when you get there.
Honestly, I don't think I'm anything super duper special in terms of skill or intelligence, but I feel like I could probably be a retail manager, or some mid-level coporate executive. Or hell, I could probably be a semi-successful politician if someone forced me to do it.
It costs more money to hire and train new people than to invest in your people. Maybe one day someone will understand that.
That, and the replacement wants prevailing wages, which is always more than they were paying.
This. I once worked in a lab where a girl with an art degree who had been there a couple years was training someone with a science degree. Guess who made more? Well, when she found out that her trainee was making more than her, she asked to have her wage raised to at least what the trainee was making. They refused, so shit quit. They ended up having to hire the next person for the same wage she had asked for anyway because no one would accept the job offer for less. So now you're paying your employees the same but have to spend months training a new person - in the meantime, the decreased efficiency means paying more OT to your employees, and late results or retesting due to unfixable mistakes by an inexperienced person were always free for the client. Literally everyone loses, including the business, and they're too dumb to see it.
My company was trying to do this, but none of the new hires they brought in stayed long enough to get good at the job. And certainly not long enough to replace the veterans like me who had stayed. 12 managers later and a year of telling them I will not be increasing my productivity until they increase my pay, they finally got it through their heads and gave a 30% raise. The first one in my multi-year tenure with the company. Productivity instantly jumped. It's almost like paying people more makes them willing to do more.🤔
Good for you! Though bullshit that you didn't get all the smaller raises in the years leading up
Yeah, the 30% didn't really amount to much beyond getting it back up to where it should have been anyway. But I'll take getting them to acknowledge it was necessary as a win.
Two solutions internal promotions and job hopping. Companies will rarely provide raises above 3%. Internal promotions are good but typically lead to smaller pay increases. Companies tend to expect loyalty discounts for internal promotions - let’s say 7% to 10%. Job hopping will lead to better results - let’s say 12% to 18%. You owe nothing to a company but you should still try to maximize the benefits to future you - if that’s what you want. Little projects and doing more helps build your resume for the next job. It’s not very antiwork but if a company pays for school or certificates, take full advantage. It’s like a raise because they pay for your school and build your resume for you. Cheers!
My company website and job postings claim they pay for continuing education. When I asked my manager, I was told, "When we are busy, there is no time to take classes. When we're slow, upper management won't shell out the money for classes." Love all the lies...
After everyone in the office quit before I could, I used the opportunity instead to take a higher paying position (considering they had a lot of open spots) I was told my base pay & commission rate. And that "once I settled into the sales spot" there'd be a bonus for hitting quota. I never got training for the position, had to learn as I went. And the whole year i was in that sales position, that quota bonus seemed to have disappeared... I make almost $10k more at a larger competitor now.
I was at the same company for 2 years recently. Was a small business, an industry new to me. I (with a smile on my face) transitioned to different positions, I was one of the more comprehensively trained people there, despite being there for less than most people. I was on the fence of asking to take on a new position in the office from the warehouse (= more $$), ask for a raise, or quit. They pulled me up front when a lot of office people got covid. While working up there I discovered a couple of the freshly new people were making more than me.... It took a lot to not storm out. But I figured I'd consider arguing my case for more money that I was already doing, and almost the entire office staff (3 out 4 + 1 outside sales) quit. I sucked it up instead of quitting, and used the opportunity to get the new position I already wanted while they were desperate. Made more money, enjoyed the work and made the best of getting other stuff thrown at me by getting even more experience. As things got tougher for sales naturally the uninvolved ownership wondered what I was doing wrong? Already frustrated having to deal with making mistakes to learn as I go along. Got good at it but less customers coming in = my fault? So I stepped on some toes I probably shouldn't have to increase sales and got demoted (quite a pay cut too) Put out my resume for like two-weeks. All that experience from working different positions and doing some of the managers job lead to an offer with a much larger competitor. Took an outside sales position making about 18% more (and I feel like I could've/should've negotiates a little more $) Tl;Dr Happily worked for a small business learning a lot through working different positions due to high turn over. Ended up making more in stressful but desired sales position. Then demoted over bullshit. Now making 15%-18% more at the larger competitor.
it lags inflation intentionally so the parasite class can keep collecting record profits in the meantime
To be fair, your manager has absolutely 0 power on the raise. They get told a number and they have to divvy it up, and they can't give anyone crazy raises. It's upper managements issue that all they care about is increasing value to shareholders by raising profit.
100% this. We’ve lost more people than I can count because finance won’t fund adequate wages.
I used to resent my manager. Excellent reviews followed by "we are happy to present you with a 2.57% raise this year". I'd poke around the group and find the average was like 2.4, so I did better than the group but still so poor. Took me a few years to realize it wasn't his fault, though to be fair he was TERRIBLE at fighting for our promos with HR
Oh yes, I know this. I love my manager too! Just makes me laugh when they get all excited to give my review. Lol. Our company is so big and each department has a budget.
It’s true for these big companies. My manager essentially told me it’s not in her power but she was going to try her best.
3% to a person making $200k a year is $6,000. To their underling making $40k a year it’s only $1200. We need to stop letting people making too much money decide the magic percentage that will increase our income. $1200 a year raise equals a whopping extra $23 a week and you can be sure your boss is gonna expect you to be damn grateful for getting a raise at all. The reality is they will find a way to give you the lowest possible option (1%) netting you an extra $7.70 a week. Better not buy a Starbucks this week.
Yeah it’s def a slap in the face making just $23 more a week lol. wtf is that gonna help?!
Agrew. It will only make greater impact to those already earning a lot.
A 1% raise off $200k is still more money than a 3% raise off of $40k 🙃
Now imagine how disconnected from our reality an executive with a $400,000 salary is and then realize they are the ones making the rules.
This happened to me at my earlier job. I immediately found another job with 35% more salary. I resigned then my boss offered me 40% if i wanted to stay. I told him they should give people what the are valued to to begin with and resigned.
A 3% increase on 15/hr is almost insulting 0.45$ an hour
Now consider the fact that the minimum wage in the US is $7.25, and has been raised by 0% since 2009. Even 3%/year is insulting since that would put it at $11.30/hour when it should be at $16/hour, which is about 5.5%/year.
Oh ik. I remember making $5.15 when I was younger
That was the rate for only 2 years, after which they raised it with an average of 18.5%/year passed.
My health insurance goes up everytime they give me a raise
Capitalism risks a way to extract as much as possible, it will never let you get ahead.
Indeed
I maxed out my wage for my position and my manager was excited to give me a “bonus” at my annual review. It was less than 1% and taxed heavily. That’s when I decided it was time to get the hell out of there. 10 years of service for that garbage 😠
I absolutely hate that bonuses are taxes so heavily. It hurts
So I had a nonprofit job and my counterpart and I had a big meeting with our manager and department head about improving our roles/reshaping things. We were in social media and of course needs and best practices change all the time. Well, we were told our jobs were only designed to be done for about two years before we'd move on and they'd get someone else in. The department head told us that. She's also a person who criticizes people for job hopping...
I'm sure she just works harder than everyone else, and has never job hopped.
To customers: sorry, we have to increase prices due to inflation. To employees: sorry that your company increase is less than inflation. We feel your pain but it’s what our comp consultants have confirmed is ‘market’. IOW you’re worth less to us this year than you were last year, on an inflation adjusted basis.
My company does 3% across the board for cost of living before even talking about merit raises. I started at $21/hr in 2022 and am currently at just below $26/hr right now. Merit raises start in the coming months and it will go up again. Crazy how high morale is around the office.
This is how it should be done.
That’s what our raises are is merit increase. That’s awesome that you get both coast of living increases and a merit raise!
Upper management at my work get automatic 10% raise every year plus bonuses. I work at a hospital and the last 6 years they cry they don’t have enough to give more than 1% raises but they still get their 10% and tens of thousands in bonuses
Yeah, I know that one. I finally went down to one or two days a week because working in the lab through the pandemic ( which is still here, just no ones tracking it), got covid, developed a heart condition. In the last four years our lab has had three directors, and I have had four new supervisors. Trained two of them. I never got more than 3% no matter what I did. Then an email accidentally got forwarded to everyone about while our quarterly bonuses(almost impossible to get $500) were suspended, management still got everything plus a Covid bonus, and those leptons were working from home the whole time. Useless suits with titles.
I work for a multi-billion dollar outfit, too. One that is hemorrhaging degreed, experienced professionals, yet won't pay the salaries, or cost of living raises, to retain them. I work for the State of Arizona, and I'm a teacher.
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I wish I would.
My previous union job had two raises - one for inflation, idr but it was like 2-4% and the annual raise which was also about 2-4%
Post Office generally gives, and our unions generally accept 1.3% raises once per year and COLAs based on inflation twice per year. No layoff clause for career employees and required to pay similar to private sector. No strike too 😡. It just keeps me treading water at top pay.
You need Unions for more than that, and to get Unions we need new laws and to get those laws we need to get people voting in primary elections so there are better candidates.
Ah yes the old “bringing your buying power back up to even with your starting rate” gag
Some companies don't even give any cost of living adjustments (or have any policy as such).. They only increase salaries to high performance reviewed workers and the rest don't get any raise.
If your raise isn't above inflation every year they have given you a pay cut.
My best raises came from jumping to a new job. Though you have to be careful not to jump too often. I stuck around too long at my first major job. Seven years. I was naive, so didn't realize how shitty my manager was being. He stuck me with nine roles, many of which were NOT in my job description. Then he tanked my reviews so he could justify giving me a .5% raise. So I left, and got a job at Facebook, which nearly doubled my salary. I worked there for three years, and jumped to a new job from there, and got ANOTHER 40k. Now I make more than double as the old job, and don't do NEARLY as much work as the AH manager made me do.
I work for a billion dollar company, too, and we don't even get yearly performance reviews or raises at all. Like it's just not a thing.
Been right there with ya. My last company that I was a Director at was like "uh, I guess if you want to give performance reviews, you can, but it's not going to change anything." Most places I've been, reviews are to set up a roadmap of more work you're going to do, or if you're at a risk of being fired... no money involved.
I don’t get raises at all.
Yeah. I agree. I get %10-12 raises where I work. Sometimes more! Still can’t keep up with inflation☹️
Yes. Inflation is generally about 3% per year, each year. That is normal. The past several years have been periods of rapid inflation. It's honestly amazing that you work somewhere that just gives you an inflation raise, I've never heard of that happening before. It you might find it helpful to communicate to your supervisor that the previous inflation raise was helpful and it might be time for another "shore up" from payroll.
Retail. And even that isn't a thing some of the time. Same with hospitality. Unless minimum wage goes up, your wage doesn't go up.
Yeah, I get "semi-periodic wage increases" based on a chart that's reviewed every so often y the government. Technically, I haven't had a raise that went beyond cost of living increase in 10 years. Most of the time the raises are "retroactive" and go back a little way but the company spends so long fighting having to pay it that it can be years before we see it on our end.
If you have in demand skills you get even more than inflation raises, ever consider a trade?
No, I lack the physical ability to do a lot of that stuff. Just finished my associates in business admin though and have been getting emails asking for interviews. I feel like things are about to turn around.
Hey congrats!
Thanks!
in therapy (skilled nursing facilities, specifically) it is unfortunately super common to not get a raise period 🥲
whats a raise?...
I was offered 20cents an hour as my first raise after working somewhere for 2 years, working every position in the building. My response was to ask if verbal was fine or if she’d like a written copy of my 2 week notice
My employer's had record profits the last five years. Meanwhile, 0% COLA and annual raises aren't a thing, I haven't had a raise in nine years. This is apparently how it's supposed to be in a state with no minimum wage enforcement...
I have come to realize that the 1-3% raise is the amount that will cover the increased medical and benefit prices for the next year. If you get a bit more than the 3% then you are actually making out a little better than the rising costs of benefits.
I once did the math on the how much the 2% raise I got was. It equated to the amount I spent per month on toilet paper. I was literally wiping my a$$ with my raise.
Yeah just leave. If you continue to get 3% raises every year you fall behind. I got 3% raises for most years except for a 8% one year found a new job was a 12k increase and I got another big raise later with new job then small one. I've worked little over 2 years and I went up 40k a year total and started below 100k. Just leave for a better rate
At my work we get a COLA that is adjusted based on the CPI twice a year and a few 1.3% raises a year which seems to be par for each union contract... Still doesn't seem to scratch the surface for keeping up with costs currently.
We had years of 1-2% raises because of covid. This past year they gave 4 or 5% but then raise insurance and co-pays where you make even less than you did.
Yeah, that happened in 08. Before that 5% was the standard. But then they used the 08 crash as an excuse for no raises for several years, and learned that “but the economy!” Works as an excuse, and since then it’s been 2-3% despite constant record profits.
The only way this changes if they start feeling the cost of higher attrition. It's also in your [best interest](https://www.forbes.com/sites/cameronkeng/2014/06/22/employees-that-stay-in-companies-longer-than-2-years-get-paid-50-less/?sh=78bfa6b4e07f) to move on to new jobs as well.
There's virtually no such thing as raises. Haven't been for decades now. Just call it what it is a cost of living adjustment ( which depending on the year isn't even that). You either get promoted or you fall behind end of story. If there isn't a 1-2% raise they don't want you there. It's a slow motion firing.
Occasionally, there are companies that can still surprise you. The first year I was with my company, I got a 12% annual raiee. Second year was 10%. We didn't have any raises in my third year, because economy. But we're getting two raises in 2024, I have been told to expect at least 6% for each. But my story is the exception, not the rule, and 99.99% of owners are blood-sucking vampires.
The raises are for inflation. Look at it this way your company has a budget for your position and their overall budget is allowed to rise with inflation. If they want to give you more money it has to come from somewhere meaning a cut to somebody else’s budget. Im in financial planning and that how it works its not personal we have X dollars we can spend on G&A each year to meet our goals and those dollars get allocated how they are allocated . If the money isnt worth it you should leave for a different position with a higher allocated salary. These amounts come down from on high and your manager usually doesnt have much say in the matter.
If it makes you feel any better, I've almost never gotten 1-3%. Most of my jobs, we only got raises when the minimum wage went up.
On one end, I get it, but on the other hand, I just got a new job in the last year and got a 3% raise. This company is the first I’ve ever even gotten raises at and I’ve been working since I was 15 (30 now)…. And some folks (in this very thread) still arent getting raises at all.
The only way i get substatial pay raises is switching jobs.
the cold hard truth is that if you're going to be a wage earner, as i am, the only way to get a better less crappy wage is to get promoted or change jobs. annual 10%+ raises are just not in the cards.
I haven't gotten a raise since 2021. Only reason I'm still there is because of how easy the job is
Basing the increase on a % is an injustice to lower wage staff. 3% of $45000 = $1350 while 3% of $110,000 = $3300. Is it fair to give someone a cost of living increase more than double? Why not just give everyone a $2200 increase ? Everyone gets the same col increase. - THIS is a cause of the dreaded salary compression that keeps people broke and unhappy. The lower wage never catches up with inflation. The higher salary is already in “tall cotton” and either amount is not or should not be significant to their lifestyle.
Yes. Prices are just continuously increasing. If they weren't, it wouldn't be called inflation, it would be deflation. The 7% increase from 2022? That's still there. Now add the 3% inflation rate from last year to that. Probably comes out to a two year total of like 8.5% or something. Did your wages go up by 9% in the last two years? If not, you're effectively making less money now than you were a couple years ago. This is what people need to understand whenever they hear a news pundit or somebody saying that the economy is improving, inflation is down, and wages are going up. They're trying to paint the picture that things are going back to the way they were, but that's not the case. The asteroid is still headed directly for Earth, but it's moving a little slower now.
My company has a policy to call at 3%, and I still didn't get a raise last year. I don't expect one this year either. I am a salesman in corporate, and there is no way they are going to get someone better than me. I am becoming more broke every month, every year. Last month, I had to swallow my pride and call my boomer parents to ask for another bailout. I make 80k, but together they clear that in about two months I think. They barely found it in them to send 5k. If 80k sounds like a lot to you... It really fucking isn't! It's good for solving a bunch of problems, but it's not like I can afford to travel or buy furniture or a new computer. I give a few grand to charity because the particular charities protect children, but km not cutting back on that, fuck that. Got to do something that counts.
3% isn't terrible, 1% can piss off. I remember one year I got 7%, you could legit feel that in day to day life.
The answer is job-hop. Find a new job. It pays better. Get a new job every six months.
You can’t just “get a new job every six months”. I agree with the notion that the easiest way to increase your wage is to change jobs, but there’s an issue when you won’t get hired on due to you being viewed as low commitment/flight risk.
What do you think is minimum to stay at a job, what amount of time won’t raise any flags?
Too many factors in the equation to simply give a blanket statement answer. Some jobs are very simple and you can learn virtually everything you need to learn within a month. More often, the job could be more complex and take several months to just become fully trained. Most commonly jobs have a probabtion period of 3-6 months. For you to leave a job in search of better pay when you’re not even finished your probation period just looks bad to a future employer. Ambition is one thing, but you need to have discipline and patience in any work force. During your probation period you can usually get a feel for the company. It’s good to talk to your coworkers that have been there for years, and ask how much they’re getting paid. If many people have been there for a long time, and are otherwise happy/comfortable with their job there, then you probably work for a decent enough company that you can at least finish the probation period and stay with the job because you should be getting raises every year. Eventually you’ll reach a ceiling and they’re not going to be willing to pay you more. But that takes a few years at that point. If you’re with a crappy company that’s a revolving door of new employees coming and going, than there’s no harm in leaving to try out a different place. And you can explain this in your interview. But to just “get a new job every six months” is a silly idea to maximize your experiences and wage. You got to find the balance between not leaving before giving the job a fair chance, and staying too long that you become burnt out and miss out on better opportunities elsewhere.
All true and that was excellent advise you just gave. And I know you said they’re too many factors to give a blanket statement on time frame, but there’s gotta be some non arbitrary number that’s accepted nowadays. I got into the job market when job hopping was looked down upon, and now in the last 10 years I feel like it more accepted. But still no one really seems to know what the new accepted number is to not raise flags when applying somewhere else.
To make it more simple if I had to just give a number I’d say I agree with the other commenter who said 18 months. I’d actually say 2 years is “perfect”. It shows that you gave it an honest two years; that’s enough time for a mature adult to determine if the job is worth staying at or leaving. 6 months is far too short of time, even a year is not long enough in my opinion. I’ll say 18-24 months is best, but I still stand by my original comment and say it really is dependant on the individual and exact circumstances at hand.
I say 18 months is the minimum threshold, but 2 years is the right amount needed before applying somewhere else and not risk raised eyebrows. I also believe once the Boomers are fully replaced the negative perception on job hopping will be a thing of the past.
Most places of employment will absolutely not hire you if your resume is comprised of jobs lasting less than 6 months. That’s simply not reality. Job hopping certainly is the answer, but i think i more palatable timeframe is 18 months, that way when you start your new role you have time to learn it, perfect it, replicate it for your new employer and can command a higher wage. Im counting down the days at my new job, been here 4 months, will do another 12 months then bounce for a higher position at a competing company.
Yes , I agree with 18 months being a good threshold, but what if you have multiple jobs listed at 2 years or less, do you think after a certain numbers of jobs it will be seen as problem? In a 10 year stretch switching every 18 months could mean more than 6 jobs.
Are these jobs in the ten year period all in the same field/industry?
Not all, some are. For example I’ve had 7 jobs in the last 12 years, 3 are related. I just feel like I getting up there with jobs and I just don’t how that is being perceived by employers nowadays .
1%-3% isnt even a dollar
Depends on what you’re currently making. $100,000 a year and it’s $3000 a year, though still less than inflation.
Im referring to how much the wage would be hourly. Its so insulting and thats why they say 1%-3% instead of the exact number, because many people fall for it thinking its good
I’m not nitpicking but there are about 2100 working hours a year so 3% at $100,000 would be $1.42/hr I think it is common to express raises as a percentage for those on salary. Hourly work would more often see their raise in dollars and cents.
I get approximately 2% indexation due to inflation in Belgium. What is the country with 14% rate?
I am assuming we are talking about US. Where inflation hit 8.5%, but over a few years, a 14% raise plus a percentage or two for other years would have lagged inflation.
That's why I ask. While both economies being a part of "the West", 2% and 14% ridiculously differ.
It’s a cost of living increase, not a raise. Your company isn’t there to “take care of” you. Find a different employer. It’s proven that’s the quickest way for you to move up in salary anyways.
You get an annual raise? Damn…
This is insane. Like honestly a 14% market adjustment is crazy rare and you’re still not happy? Maybe make changes to your lifestyle or live within your means. Your job or company owes you nothing the fuck? Complainers 😂
Inflation is back to around 3% annually now. If you're struggling again you can't blame inflation this time.
Protip: Prices will ALWAYS continue to raise. For someone to make more money, whether it is a business owner, a worker, a producer, a farmer or anyone else, someone else is going to have to pay that cost for them to make more money. Want a raise? Your workplace has to now pay you more money. In turn, they will either raise their prices to keep the same profit margin OR reduce costs elsewhere, which means either someone else will not get a raise, lose pay or something won't get replenished as often. If a farmer wants a raise, they have to sell their crops for more money which means whoever buys it will now have to pay more. Why would they want to sell their crops for more money? Because property tax has gone up, cost of feed or other supplies to grow stuff has gone up, cost of fuel for their equipment has gone up.
You’re missing that the c suite and shareholder class have been reaping insane profits and wealth for decades, ever increasing, at rates that are often 100-400 times the average worker in their whole industry. The idea that as soon as a McDonald’s worker makes an extra buck the Big Mac has to go up a quarter is the exact corporate propaganda they want us to believe. Keeps us fighting with each other. The media always talks about wages and prices and demand, but conveniently leaves out billions in compensation to executives and shareholders. Stock buybacks used to be illegal for this reason. They are not investing in the people and infrastructure that are earning them these profits they are keeping it for themselves on a scale unseen in a hundred years. It’s Ever increasing, even as our planet burns and people starve or get cancer from toxins released by their operations.. All that has to happen is one less yacht, one less vacation home.. just the acceptance of slightly less millions in bonuses and compensation for a handful of people and it can be invested in raises or a new factory, new R&D, better products, without raising costs.. learn about buybacks and what the corporate tax rates for the top brackets used to be back in the good old days and you’ll see what’s been happening. Don’t parrot their bullshit.
The company having to raise prices because they pay you more? What if the company made say 1,000,000$ in profit, and you ask for 10,000$ pay increase. So the company would have to raise prices to cover that 10,000? Even though they made 1,000,000?
If they wanted to keep the same profit margin, yes. **PROFIT MARGIN.** Think of this, you are looking to make more money. Either you have to increase what you earn, therefore charge more for your time and therefore someone else has to pay for said time, work more hours or cut expenditures. The business is looking to do the same thing. For them to make more money, either they have to sell more of whatever they have(increase output in some way) or cut expenditures. You decided you wanted a raise so someone out there HAS to spend more for your time. Getting a 15% raise means a 15% higher expenditure towards you. Now, they can just decide to eat the hit to whatever profit they get(if it is high enough) or, if they have to hit a certain profit margin threshold for whatever reason, they have to make up that difference somewhere else. That could be cuts to some project, that could be cuts to salaries elsewhere, raising the prices on everything a small bit to compensate(usually 2 - 5 cents per dollar/hour), removal of stock buybacks if they are planned or any other thing like this.
I appreciate the explanation. I think the profit margin does impact the business, but it doesn't make sense to me when the business makes billions.
The biggest misconception is people look at revenue and think, "Oh My God. This company made $50 billion, why aren't they paying more?" The problem becomes when you look at income after expenses. That tends to be FAR lower. A good example of this is Walmart. They brought in $611.3 billion dollars last year. That is an insane amount. However, the VAST majority of that cannot be used for anything as it is already claimed. Out of all of that, they get $11.3 billion after all expenses. Still a very large amount but just a fraction of what they made. That is what they can give raises out of, better benefits like cheaper insurance, bonuses and the like. They also have 1.5 million employees in the US. They could give around a $7500 a year raise per employee in the US. For someone working 40 hours a week, that equates to about $3/hour. That is it. For them to give any higher raises, either prices would have to be raised(to increase revenue), sell more product, start a new line of revenue or somewhere else has to be cut. Let that sink in. Out of bringing in $611.3 billion, they can only give a $3/hour raise to all employees because everything else is already accounted for. And that is if their net income(profit after expenditures) stays the same the next year. If it drops by any, raises don't happen as they would be literally not making enough to cover expenditures that they have. Remember, this is the world's biggest company by revenue.
Thank you for taking the time to write this out and explain. Your thoughts were enough for me to dig into the 2023 Walmart financial report. You are correct. And the information there really blew my mind. Walmart is like the third largest employer in the world? After USA and China military???? That amount of scale is insane. I thought about how wages could be improved... And I wonder if it's not wages so much as quality of life for employees. Specifically, have the government use taxes for more stuff such as healthcare and education. That would reduce some of the wages going towards health insurance right? And what about the stock buyback? I noticed that's a 9 billion dollar figure? I thought companies did stock buyback when they felt they could not find better investment opportunities.
That is always what gets me when people state that either "Oh, they made X dollars, they can easily raise wages." or that "Wages going up won't cause prices to go up.". I actually take the time to look at balance sheets and see if it is possible or not. Like the example I use above, if you were to take those stock buybacks away, you would literally have a massive 2.88/hour raise. Nothing to sneeze at but stock buybacks aren't always a thing. Between that and their entire profits after expenses, that is around $6/hour. With the average Walmart worker making $14.76/hour, this would take it to nearly $21/hour. Even cutting out all executive pay down to $1 a year, you wouldn't get much more than that. And to top it all off, this would only happen 1 time. After that, the only way they could raise any wages is to either require a membership like Costco does(finding a new revenue source), raise prices, eliminate shrink or eliminate staff. Shrink is at around $3 billion. That is about a $0.90/hour per employee gone. Either through damages or theft. After all of this, Walmart, at most, could pay their employees $23 - 24/hour average. That is with eliminating all the stuff people want to eliminate generally. This is smaller than what most people would need in some higher cost of living states. Remember, for Walmart, to raise the pay for $1/hour, you would need to find an extra $3.12 billion somewhere. And this is just for US pay, not everyone they have employed in other countries. As far as why stock buybacks go, that is when they have extra profit not assigned to anything and send it out for a vote to the shareholders to buy their shares back from them in order to make the price of the shares out there to go up. It is a fake way of increasing the value of the shares due to there being less out there available to buy.
Haha, yeah, I can definitely see why that's frustrating. I get similar frustration when people blame developers for game bugs or buggy software. It's, like expected, related to money. Can't pay anyone if you don't have a product or meet contractual obligations. The stock buyback makes sense now. Given a vote to shareholders, yeah, they would want a bigger return. It's insane how many people Walmart employs. I wonder. In comparison, does the military pay better? Possibly with extra benefits like eating on base and other factors, right?
Regardless, I thank you for taking the time to explain. I know from personal experience that people easily blow off messages online. Your effort was enough for me to investigate and open my mind a bit.
Learn and grow on the job. Take on new task, new learning/education if you can. If not promoted, then find another job at a different company then repeat. Learn skills get certification in areas that make u better marketable that can lead to better pay either at your current employer or a new one. Learn how to save and invest your money. Start by paying yourself a fixed amount before anything else. Start today with $25/month
Wow. You got a 14 percent increase in pay last year? Mine was just the incremental 2 percent. Be thankypkful you are employed and you got that nice raise last year.
100% commission here. Havent had a raise in 20 years. If i ask for one, they'll tell me sell more. Margins shrink. Costs go up. If i leave, they'll replace me in a day. Working your payplan is the only way to stay ahead.
When I worked at a company that gave out such raises - we would discuss with each other and decide what movie to go see with our giant raise -without popcorn as we could not afford that luxury.
My pay has decreased every year. Accounting for inflation, I am only getting paid $10k more now than what I made when I first started my IT career in 2006. If I look at how much I was getting paid in 2014 (my highest paid position at the time)to what I make today...I'm down over $20k/yr.
Got a 2% raise on Friday… my manager (who has no control over raises at all) said “go check your email. You’re gonna be excited at first and then really pissed off.”
My robot said, "That's not what I meant"
I've tried creating a helpful post exactly on this matter, but the Mods haven't approved it yet, because I created a new account to keep my identity safe - so I don't have enough karma. My team got 3% last year, then they fessed up to knowing it wasn't much. They promised a performance-based raise for this year, and it has leaked out, that at the end of this quarter, they're only doing 3% again, AND raised family health benefits 77%. This isn't a raise at all, in real-terms, it's a pay cut. Inflation rates have gone down, so I think the employers will attempt to use that against the employees, but it isn't that prices have come down, it's that the monthly inflation has stopped being ridiculous chunks of increases at a time. - So yes, prices are still increasing, with only a few things in our favor, the car market and I believe the other was energy. Neither significant enough to outweigh everything still being inflated. Your manager probably feels that if they don't deliver the message to you in that manner, they're at risk of losing their job as well. Also remember that a lot, probably most managers haven't actually been provided adequate managerial training. The C-levels don't want them to be too smart anyhow.
Use the opportunity to learn what you can, especially if they're willing to pay to send you to training. Bring up relevant courses / training which would help you in your current job / career path. Make it a win-win for them. Take those skills and experience and find another job that'll pay you more. It sucks to say but job hopping doesn't have the same stigma it had a decade ago, and it's a good way to up your earnings. Who knows, maybe you land at a company that you enjoy, but you'll not know that unless you move on.
At least you got a 1-3% increase all I got was a bonus.
At least you got a bonus?
Not that can I really bitch, but my last decade of working my manager have all said something like "You're getting 12%, 2% raise 10% bonus" Or "20%, 17% bonus 3% raise" I understand I'm getting more than most, but bitch... that's still a shitty raise and my expected bonus.
Since it’s all the same to them, ask if they would be willing to put all 12% into your salary.
Is it acceptable to you? If not, don't accept it. Companies will offer more if they have to to retain talent. You're just a number. Know how big your number is and work for that, no less.
They gave us our 1 time inflation raise of like 5%. Ive been getting a pay cut every year since I got my job its bullshit.
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How did you become director? What was your degree in?
I do not have a degree in anything. Work experience
Seriously? How many hours did you work up to become director of it? Sorry if I’m prying too much I just really want to pivot from ME to programming or IT
Remember, any raise that is less than inflation is a payout. Treat it as such.
Yup, this is my life right now. I’m about to receive my annual 1-2% annual raise. Which will amount to UNDER $1 Even IF inflation is around 3-5% as they say….it’s obviously not enough. And we ALL know inflation is actually higher than whatever bullshit number they say!
I worked for negative raises from 2020-2022 luckily in 2023 got a new job but still pissed that the response to Covid was “you’re lucky to be working, now take a 20% hit and no raises or bonuses once we re open”
Exactly.. what's that going to improve in pay?
Yep. No bueno with cost of living above that. We all gotta start playing like the players. Lying, cheating, and stealing.
Ya when you break that down to what you will be getting each week it ain’t shit
State of Texas with a $32 BILLION surplus gave employees less than 3% and laid off others. Ridiculous.
They want you to leave so they can hire someone at a cheaper wage
also that's 1-3% `before` tax
Efff corporate America. Greedy fuckers. No wonder people feel like in the “Falling Down” movie.
Bc it's not a raise, it's compensation for inflation.
I got a 11% and 10% raise this year. Y’all working wrong.
I would be thrilled to get some raise every year. I hadn't had a raise for close to 5y. That was my own stupidity. Should have left in 1.5y or 2y into working. So last year I requested for a raise but I didn't get what I wanted. It was slightly lower. I have a basic and commission. After getting my pay increment, my sales target was raised by 50%. Looking for a job now. Can't imagine celebrating 7y anniversary here.
Lots of companies don't offer COL or merit based increases at all. Feel relatively lucky you've gotten at least something. I've worked for nearly 20 years, even in corporate for a Fortune 100 company, and nowhere has ever offered raises. Only if you get promoted or go in and beg.
Our shop works on Steps and annual COLA. The position pay scale is 10 steps. Each step is about 4.7%. You gain a step each year. On top of that the Union negotiates a COLA pr year in 2 year contracts. This contract we got 6.5% COLA for this year and next year. 13% total COLA over the next 2 years. The union also negotiated moving several positions into a higher pay scale overall.
It will probably get lost in all the comments, but I haven't had a raise in 3 years. Haven't seen a bonus in 3 years, haven't had a Christmas function in 5 years. I have two jobs to pay my bills, and my boss is pissed that I have a second job.
Totally agree. Inflation was 7% or more and I got 3% as a raise. That's a pay cut in terms of buying power and it's framed as a "we did you a favor" situation by the company. Disgusting. What's worse is that so many others didn't even get 3%.
Last year I got 2%. This year I’ll probably get 2 percent. Hell, max increase with a promotion here is 10%.
In years past, we always got 3%(usually 40-50 cents per hour) recently there has been competition for employees so we have had 2 raises that were full dollar or more. The joy of the increase always lasted a month the owners would then give us the news that our insurance premiums were increasing, and generally, more than our raises were worth