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Average raise now is about 4%, just got double digits ;)

alkemyst

alkemyst

No Lifer
I was expecting 4%, it's standard now....some get 3% even due to not quite meeting all 'goals'.

Have my review, and I get the talk of how 4% is what's the going raise, and some misc....

Then I get told, *however*; due to the work you have done that went way beyond what we expected your first year here (I was experienced going into this job, I am 34...) we decided to give you XX%, and hope you will be here for your next annual review.

:beer: to my company!
 
I made $8/hr one place I started. 2 weeks later, it was $10/hour. About a month later, it was $12/hr.

So in 6 weeks, I got a 50% raise.
 
10% on $30k = $33k; an increase of $3k
4% on $100k = $104k; an increase of $4k

It's all relative to your base pay.
How long would it take you to catch up to the guy making $100k @ 4% raises a year?


My point?
Some companies will offer a low base pay but advertise huge double digit raises the first several years.
By the time you've been there for 5 years or more, you'll finally make as much as you would've with a normal base and raise.
But the company saved a lot on your first few years, and you actually earned less money in the long run, by a significant amount.
Pretty much common sense.

This only applies to you if you've been lowballed on your starting salary 😉
 
Originally posted by: psteng19
10% on $30k = $33k; an increase of $3k
4% on $100k = $104k; an increase of $4k

It's all relative to your base pay.
How long would it take you to catch up to the guy making $100k @ 4% raises a year?


My point?
Some companies will offer a low base pay but advertise huge double digit raises the first several years.
By the time you've been there for 5 years or more, you'll finally make as much as you would've with a normal base and raise.
But the company saved a lot on your first few years, and you actually earned less money in the long run, by a significant amount.
Pretty much common sense.

This only applies to you if you've been lowballed on your starting salary 😉
Click to expand...

that's not my case though. I got a real nice bump.

I will agree someone making $20-30k getting a 20% raise getting hired $10k under the median for the company is different.

However HUGE double digit raise promises I never saw, and if they were there that would equal and surpass in less than 5 years if we are on the same page.


 
Originally posted by: alkemyst
I was expecting 4%, it's standard now....some get 3% even due to not quite meeting all 'goals'.

Have my review, and I get the talk of how 4% is what's the going raise, and some misc....

Then I get told, *however*; due to the work you have done that went way beyond what we expected your first year here (I was experienced going into this job, I am 34...) we decided to give you XX%, and hope you will be here for your next annual review.

:beer: to my company!
Click to expand...

2,.5%-3% is the rumored average at my company

The bad news:
inflation = 4%
inflation with gas factored in = 7%

Yayyyy, pay decreases!
 
Im still waiting to hear about my merit raise. suppose to come into effect july 1 and i still havent been notified.

in other news, just got accepted in graduate school! so Im still going to be a poor student next year.
 
Originally posted by: IHateMyJob2004

2,.5%-3% is the rumored average at my company

The bad news:
inflation = 4%
inflation with gas factored in = 7%

Yayyyy, pay decreases!
Click to expand...

I don't think you understand this topic....4% is a nationwide average. You company may be below that...yet 2.5 to 3% is still not bad.

I don't know where the gas part comes from....what company?
 
Congratulations. It sucks when the average raise is 2-4% and the cost of living increase in your area is more. It's like taking a paycut!
 
Originally posted by: sygyzy
Congratulations. It sucks when the average raise is 2-4% and the cost of living increase in your area is more. It's like taking a paycut!
Click to expand...

that's what it is here...this may help me buy a house this year....median is $53650, *average* house is $346k....the math sux....
 
I thought you had a house already. Aren't you that body builder guy with the nice studio and TV's all over his house?

Average house prices in my area are $1M I think. Maybe less. It's the most expensive place in the country to live. Not something I am happy about.
 
Originally posted by: sygyzy
I thought you had a house already. Aren't you that body builder guy with the nice studio and TV's all over his house?

Average house prices in my area are $1M I think. Maybe less. It's the most expensive place in the country to live. Not something I am happy about.
Click to expand...

i had a house in 1995 until about my first ban here. I wasn't really a body builder, I was a strong guy...geting ready to get back into that.

You work in an area (I am thinking a few miles around) that's 1M average?

 
I got my annual raise back in Feb, 2.94% it would have been 4.75% but they "prorated" it lower because I got a promotion and big raise in 2004
 
I just got a 20% raise this week as well. New position, but less hours. In the end, the pay will be practically the same.
 
Originally posted by: alkemyst
Originally posted by: sygyzy
I thought you had a house already. Aren't you that body builder guy with the nice studio and TV's all over his house?

Average house prices in my area are $1M I think. Maybe less. It's the most expensive place in the country to live. Not something I am happy about.
Click to expand...

i had a house in 1995 until about my first ban here. I wasn't really a body builder, I was a strong guy...geting ready to get back into that.

You work in an area (I am thinking a few miles around) that's 1M average?
Click to expand...


Yup, to clarify, the average houses here are that much. Maybe $800K+. I can double check later pretty easily. This stuff comes up all the time. I am here for work, for the most part.
 
my 6 year review is due next week, the most my company can give is 5%, so far i have received that every year. i hope i get it this year.

Congrats on your raise!
 
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