Just got my raise, and review...

[Doboji]

Highest possible rating was a 1 lowest is a 5

2
?Consistently meets all and exceeds many of the position requirements of the job
?Performance has made a significant impact outside of the defined role
?Regularly take on extra responsibility without sacrificing primary responsibilities
?Decisions and actions have had a larger impact than expected
?Proactive, requires little management or supervision, go-to person in department
?Demonstrates high initiative and leadership skills

Raise = 5%

I mean I suppose thats decent right? But it just totally shot down my life game plan of increasing my salary by 10% every year. I dunno it just seems like such a let down... what do you guys think, is 5% a reasonable raise?

-Max

 

[gigapet]

I dont know any company that gives 10% raises every year.

 

[Svnla]

You did well, 3 to 4 percent is average, if at all. Not bad.

You can't get 10% and expect to do the same job/level of responsibility.

 

[squirrel dog]

5 is very good .

 

[astrocase]

Kinda hard to say without some context. 5% of minimum wage? Do you get bonuses? If you have a good salary and get modest raises but then get bonuses based upon the company's (and your) performance then there's not much to complain about.

 

[purbeast0]

Originally posted by: Doboji
Highest possible rating was a 1 lowest is a 5

2
?Consistently meets all and exceeds many of the position requirements of the job
?Performance has made a significant impact outside of the defined role
?Regularly take on extra responsibility without sacrificing primary responsibilities
?Decisions and actions have had a larger impact than expected
?Proactive, requires little management or supervision, go-to person in department
?Demonstrates high initiative and leadership skills

Raise = 5%

I mean I suppose thats decent right? But it just totally shot down my life game plan of increasing my salary by 10% every year. I dunno it just seems like such a let down... what do you guys think, is 5% a reasonable raise?

-Max

I know how you feel. I had an above average review last november and my raise was only %5.5. Considering the "cost of living" raise is only %3, then 5 is decent.

But when it comes to actual #'s, a 5% raise came out to like an extra $2250/yr, which was like $60 extra after taxes each check.

with the rising gas prices it was really nothing. I'm actually currently looking for a new job somewhat and have an interview tomorrow. a coworker just left and is making more than 10K more than what we made here (and he started when I did with same experience) so I know I can get atleast that much.

 

[pontifex]

i got an 8% one year, was really surprised, although i'm trying to remember if that was the year i got promoted and they technically stiffed me on the raise or not..

 

[theknight571]

5% is decent, at least in my experience.

My raises (other than when switching jobs) have been from 1.5% min to 10% max... probably average 3.5ish%.

My wife get's 1%/year.... and the Union negotiated that... lol... go Union.

Admittedly though...her bennefits are lots cheaper than mine...and she gets some other perks too...but if yer talkin raises... 1% is it.

 

[tfinch2]

Looks like a nice review, but it could very well be pencil whipped. Do they base raises off reviews?

 

[Doboji]

Originally posted by: astrocase
Kinda hard to say without some context. 5% of minimum wage? Do you get bonuses? If you have a good salary and get modest raises but then get bonuses based upon the company's (and your) performance then there's not much to complain about.

The compensation package I get is very good...

My base salary was 97K + 4.4K (Guaranteed)bonus + 15% of salary in incentive based bonuses.

Now I get $101,850 + 4.4K (Guaranteed)bonus + 15% of salary in incentive based bonuses...

So basically my definite salary before was 101,400, and highest possible was - 115,950

Now my definite salary is 106,250 and highest possible is - 121,527.50

-------------------------------------------------------------------------------------

Now alot of people are gonna jump at me saying you get paid plenty stop bitchin... I'm just trying to set myself a realistic expectation for income increases over the next 20 years or so.

Up til now I've made massive salary increases every year:

2001 - 55K
2002 - Back to school
2003 - 70K
2004 - 80K
2005 - 97K
2006 - 102K~

So it's kind of a big come down this year...

-Max

P.S. I'm not trying to brag in this thread... thats not the purpose...

 

[xrax]

ask for more money. start looking for another job. If they want to keep you around they might give you more money.

 

[Jzero]

Originally posted by: Doboji
But it just totally shot down my life game plan of increasing my salary by 10% every year.

10%/year is awfully ambitious as a "life plan." Its great to have as a target to shoot for, but assuming you can somehow plan a 10% salary increase each year is far-fetched. 5% isn't too bad. If you think you should be getting more, sit down with your supervisor and show him solid evidence to justify it.

 

[Descartes]

One thing I have learned is that the more you make the harder it is to make more at the same company. You reach a ceiling where your pay grade limits your raises. You have to jump pay grades to realize any actual bump in pay. That's been my experience.

If you could get 5% every year that'd be fantastic, imo. You're beating inflation and you already have a nice income.

What kind of work are you in? Can you get promoted to get another bump?

 

[Svnla]

OP, your salary is very good. What do you do and do you have any degree? How many hours do you work per week? From your profile, I see that you live in VA.

Down here in the South, you can't make 100K a year unless you are general manager or in medical/law or work 80 hrs/week.

 

[NikPreviousAcct]

Originally posted by: Doboji
Highest possible rating was a 1 lowest is a 5

2
?Consistently meets all and exceeds many of the position requirements of the job
?Performance has made a significant impact outside of the defined role
?Regularly take on extra responsibility without sacrificing primary responsibilities
?Decisions and actions have had a larger impact than expected
?Proactive, requires little management or supervision, go-to person in department
?Demonstrates high initiative and leadership skills

Raise = 5%

I mean I suppose thats decent right? But it just totally shot down my life game plan of increasing my salary by 10% every year. I dunno it just seems like such a let down... what do you guys think, is 5% a reasonable raise?

-Max

So you're pissed because your greed wasn't fulfilled? You got a raise. Be thankful you got one and be satisfied with the amount.

 

[Jzero]

Originally posted by: Doboji
Now alot of people are gonna jump at me saying you get paid plenty stop bitchin... I'm just trying to set myself a realistic expectation for income increases over the next 20 years or so.

Especially at what you claim as your current income level, 10%/year is ludicrous. I don't know what your field is, but at this point unless you are a "C-level exec" I imagine you have pretty much priced yourself out of the market as far as base salary is concerned.

 

[Britboy]

I'd say that's a pretty nice salary by most peoples standards, of course it depends on what you do and where you live.

Once you are at a company, they will give you as little as possible to meet your reservation wage so you don't quit, they probably didn't expect you to be too happy with 5% but they also didn't think it would make you start looking for another job.

My company has screwed me on salary for years but I have stayed this long for the experience and excellent training, the day will come though when I will walk......

 

[Descartes]

Originally posted by: Svnla
OP, your salary is very good. What do you do and do you have any degree? How many hours do you work per week? From your profile, I see that you live in VA.

Down here in the South, you can't make 100K a year unless you are general manager or in medical/law or work 80 hrs/week.

Not true at all. I'm in Atlanta and work with several large clients that have hundreds of employees, and all make six figures. Some make as much as $150k at the assistant director level. All of these people are in IT, and most of them work barely 35-40 hours a week, if that.

I also have a lot of friends in Charlotte as well, and all are making six figures working for several of the large banks there.

The high paying jobs are plentiful. You just have to have the talent, the experience, and know the right people.

 

[kranky]

Realistically, you're at a point where 10% raises are not going to happen if you stay in the same job. You will need to be promoted in order to get that kind of increase.

I think a 5% raise when you weren't in the top-ranked group is pretty good IMHO. The average increase nationally last year was a bit over 3%.

I was in a similar situation once - for the first 15 years of my career, my average increase was 8% a year, which included a lot of promotions as well as years where I got 4%. But you then get to a point where promotions are difficult to come by since there are fewer and fewer jobs above yours.

If you are looking to set expectations, I would figure it this way: assume a 3.5% raise for the rest of your career in years you don't get promoted. You might do much better than that, but you won't be overly optimistic.

Keep in mind that if you got 10% raises a year for 20 years, you'd be making over $700,000. That's not very realistic.

 

[Doboji]

I think part of the problem is the high level of competition going on right now... well specifically one employee. He is just doing his absolute damndest to outshine everyone... he's in the same position that I am, kinda like the kid in the class who ruins the curve.... if you catch my meaning. I mean he's a nice guy, I actually consider him a friend... but he's such a damn eager beaver... He works like 90 hours a week... constantly kissing the bosses tuchas, etc etc etc... I feel like I'd have to work 100 hrs a week to compete... and I'm really not willing to do that.

-Max

 

[DaiShan]

Originally posted by: Descartes
One thing I have learned is that the more you make the harder it is to make more at the same company. You reach a ceiling where your pay grade limits your raises. You have to jump pay grades to realize any actual bump in pay. That's been my experience.

If you could get 5% every year that'd be fantastic, imo. You're beating inflation and you already have a nice income.

What kind of work are you in? Can you get promoted to get another bump?

I agree, there is just a maximum amount that a certain job is worth to an employer. Think of it this way OP: Inflation is around 3%, so for a 10% raise every year, you have to be worth 7% more to the company, and while experience increases your worth, it tops out after a year or so, so you've got to do something to justify that 7% like new skills, or make the company more money etc.

 

[Doboji]

Originally posted by: Nik

Originally posted by: Doboji
Highest possible rating was a 1 lowest is a 5

2
?Consistently meets all and exceeds many of the position requirements of the job
?Performance has made a significant impact outside of the defined role
?Regularly take on extra responsibility without sacrificing primary responsibilities
?Decisions and actions have had a larger impact than expected
?Proactive, requires little management or supervision, go-to person in department
?Demonstrates high initiative and leadership skills

Raise = 5%

I mean I suppose thats decent right? But it just totally shot down my life game plan of increasing my salary by 10% every year. I dunno it just seems like such a let down... what do you guys think, is 5% a reasonable raise?

-Max

So you're pissed because your greed wasn't fulfilled? You got a raise. Be thankful you got one and be satisfied with the amount.

Damn right I'm greedy... I want to make as much money as I possibly can ... anyone who doesnt is a total idiot... I'm not saying sacrifice having a good job, and working with good people... I'm saying find a good job, at a good company and make as much money as you possibly can. Who the hell wouldnt?

 

[DaiShan]

Originally posted by: Doboji
I think part of the problem is the high level of competition going on right now... well specifically one employee. He is just doing his absolute damndest to outshine everyone... he's in the same position that I am, kinda like the kid in the class who ruins the curve.... if you catch my meaning. I mean he's a nice guy, I actually consider him a friend... but he's such a damn eager beaver... He works like 90 hours a week... constantly kissing the bosses tuchas, etc etc etc... I feel like I'd have to work 100 hrs a week to compete... and I'm really not willing to do that.

-Max

The law of diminishing returns my friend

 

[Doboji]

Originally posted by: kranky
Realistically, you're at a point where 10% raises are not going to happen if you stay in the same job. You will need to be promoted in order to get that kind of increase.

I think a 5% raise when you weren't in the top-ranked group is pretty good IMHO. The average increase nationally last year was a bit over 3%.

I was in a similar situation once - for the first 15 years of my career, my average increase was 8% a year, which included a lot of promotions as well as years where I got 4%. But you then get to a point where promotions are difficult to come by since there are fewer and fewer jobs above yours.

If you are looking to set expectations, I would figure it this way: assume a 3.5% raise for the rest of your career in years you don't get promoted. You might do much better than that, but you won't be overly optimistic.

Keep in mind that if you got 10% raises a year for 20 years, you'd be making over $700,000. That's not very realistic.

This was an extremely helpful post, thankyou!

 

[DaiShan]

Originally posted by: Doboji

Originally posted by: Nik

Originally posted by: Doboji
Highest possible rating was a 1 lowest is a 5

2
?Consistently meets all and exceeds many of the position requirements of the job
?Performance has made a significant impact outside of the defined role
?Regularly take on extra responsibility without sacrificing primary responsibilities
?Decisions and actions have had a larger impact than expected
?Proactive, requires little management or supervision, go-to person in department
?Demonstrates high initiative and leadership skills

Raise = 5%

I mean I suppose thats decent right? But it just totally shot down my life game plan of increasing my salary by 10% every year. I dunno it just seems like such a let down... what do you guys think, is 5% a reasonable raise?

-Max

So you're pissed because your greed wasn't fulfilled? You got a raise. Be thankful you got one and be satisfied with the amount.

Damn right I'm greedy... I want to make as much money as I possibly can ... anyone who doesnt is a total idiot... I'm not saying sacrifice having a good job, and working with good people... I'm saying find a good job, at a good company and make as much money as you possibly can. Who the hell wouldnt?

You apparently heh. There comes a point when more money isn't worth the time spent away from things that you like to do.