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Finally got a raise today

J

jtvang125

Diamond Member
Finished my review about 2 weeks ago and received a 4.8 out of 5 overall. Boss said he'll try his best to get final approval from company owner but it could still be a "No" due to the economy. Well today my boss called me in and told me I was approved for a 8.2% raise. But the thing is, for the past 3 years I didn't receive any raises. So I guess I could look at it as a 2.7% raise annually. Could definitely be better but something is better than nothing, especially in a time when everyone is losing their jobs.
 
Rumor is that where I am, there will be no raises but everyone will get a bonus.

Ya, engineers of all people do not know what compounding is and how this hurts us?
 
Originally posted by: oldsmoboat
Originally posted by: Scouzer
I'm at 5.5% raise this year 🙂
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I got a 9.24% reduction.
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I hear you. I had a 5% reduction last year and then zero raises this year. I suspect that I'll get zero raise again next year, assuming my plant survives the downsizings...*sigh*.
 
no raises for us this year, but our end of year bonus was huge. hoping it will be this year too. so far no reductions either, wo0t.
 
Originally posted by: IHateMyJob2004
Rumor is that where I am, there will be no raises but everyone will get a bonus.

Ya, engineers of all people do not know what compounding is and how this hurts us?
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bet you hate your job
 
0% raise

I got the highest rating the company has and in addition to my normal job requirements (which I exceeded) I: trained 3 people while working with very dangerous material that has to be handled in an inert atmosphere (not fun to do when training people--really slows you down) and completed 3 process improvements that saved the company tens of thousands (and will continue to save them more every year) and another improvement, that was a one time thing, that saved the company a couple of hundred thousand.

I'm still busy as hell at work. Ohh yeah and I'm salaried so OT stands for Own Time; natually, I've stopped working extra hours since I was informed my hardwork doesn't get rewarded.

Basically, I've decieded to start looking for a job at a company that actually rewards hardwork instead of one that takes advantage of it.

FYI my company is still profitable and expects to grow at 1-3% assuming the worldwide economy continue to deteriorate at the current rate. In fact, the earns per share last quarter were 6.2% higher than the same quarter last year.

But OP congrats on your raise, you're one of the few; however, your actually annual raise is closer to 2.662%--remember it compounds and 1.02662^3 = 1.082. Not to be too anal but it adds (compounds) up the younger you are as IHateMyJob2004 stated.

After reading my post, it looks like I should change my ATOT name to IHateMyJob2009 😛
 
Originally posted by: hanoverphist
no raises for us this year, but our end of year bonus was huge. hoping it will be this year too. so far no reductions either, wo0t.
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How huge? What % of your salary?
 
Lucky. I got nothing for a raise (I should be happy I have my job) this year. I'm just bitter because I was trained for 2 other positions and the only thing to show is experience for the interview I have next week. So here's to wanting to be promoted.
 
I consider myself lucky my wages weren't reduced this year being that I work for a retail company. Got a raise last year and a raise when I was promoted at the end of last year so... I'm in quite a bit better shape now than I was last year at this time. I'm crossing my fingers and hope things continue to improve.
 
I got a 2.7% raise this year, most people didn't get anything. Then before my raise even took effect they announced a 10% pay cut across the board for the next six months. I got 1 paycheck with my raise before the pay cut hit. At least with my raise its a slightly smaller pay cut than it would have been otherwise.
 
shit all you that got no raise yet feel you should because you are so important...find another job.

I have been on boons and banes....I work for a homebuilder so lately times are tough. I don't expect a raise right now even if I ace everything. When things turn around I am sure my company will reward performance. They have in the past.
 
No raise this year. Last year no merit raises but we did 2.3% cost of living. But this year we are not getting anything.
 
I got a merit raise of 2.6%. I guess in a better economy the average raise here is around 4%. But I don't mind since I got about 9% at the start of the year, plus a bonus and profit sharing.
 
Originally posted by: boomhower
No raise this year. Last year no merit raises but we did 2.3% cost of living. But this year we are not getting anything.
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So did cost of living really just equal 2.3% in your area? here it was closer to 4% in reality, 2% was given. Over the last 3 years although my salary as risen, I am making less money in reality.

It's a sad state of affairs and unfortunately our masses don't understand it.
 
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