What to do with 1.8% raise?

[radioouman]

Company dropped 401k match from 4% to 3%, so I was going to bump my contribution 1% once I got my raise. Turns out that my raise is 1.8% this year. Not sure that I can do that, given gas prices, etc.

 

[speg]

I think you just answered your own question. (gas)

 

[GeneValgene]

oh snaps...that's a weak COLA

 

[Aimster]

gas

 

[AdamSnow]

1.8? Weak...

19%...

 

[JoLLyRoGer]

Originally posted by: radioouman
Company dropped 401k match from 4% to 3%, so I was going to bump my contribution 1% once I got my raise. Turns out that my raise is 1.8% this year. Not sure that I can do that, given gas prices, etc.

Here's what to do... Look for a new job. 1.8%? That's an insult!

 

[SirChadwick]

I agree 1.8 is very weak. That doesn't cover inflation rates or gas at all. I swear every year we make less and less as prices go up. I'd start looking for another job fast unless you can't live w/out the one you have. I get on avg. 4-6% raise at my current job yearly depending on how well my company does + a discretionary bonus that usually comes out to $1200-$2000 and this is my first job out of college.

 

[Accipiter22]

Originally posted by: SirChadwick
I agree 1.8 is very weak. That doesn't cover inflation rates or gas at all. I swear every year we make less and less as prices go up. I'd start looking for another job fast unless you can't live w/out the one you have. I get on avg. 4-6% raise at my current job yearly depending on how well my company does + a discretionary bonus that usually comes out to $1200-$2000 and this is my first job out of college.

yah...1.8....you actually probably slipped below the inflation rate with that one...

 

[rh71]

I'd be pissed at getting 1.8%... vs. nothing at all. Those bastids.

 

[piasabird]

You should never invest all of your money in the company you work for.

It does not matter what they match, the question is how is their stock doing. Is it worth investing in or not? If the stock tanks then you lose your investment. Does the stock make money? What dividends did they pay last year? What are there projections? Are there fees for manging the investment?

 

[radioouman]

Originally posted by: piasabird
You should never invest all of your money in the company you work for.

It does not matter what they match, the question is how is their stock doing. Is it worth investing in or not? If the stock tanks then you lose your investment. Does the stock make money? What dividends did they pay last year? What are there projections? Are there fees for manging the investment?

Company 401k... My money is rolled up in mutual funds, not in company stock.


The part that pisses me off the most is that my boss told me I'd have a raise due to a degree that I finished last year. He promised that in the fall. I asked him about it again in December, and he said he forgot and would take care of it in April. He we are in April, and I still don't have any compensation for it. 1.8%...

 

[jlbenedict]

Originally posted by: SirChadwick
I agree 1.8 is very weak. That doesn't cover inflation rates or gas at all. I swear every year we make less and less as prices go up. I'd start looking for another job fast unless you can't live w/out the one you have. I get on avg. 4-6% raise at my current job yearly depending on how well my company does + a discretionary bonus that usually comes out to $1200-$2000 and this is my first job out of college.

Damn... I'm in the same catagory.. I only received a 2% raise in our recent yearly raise/review.
I would like to think the company I work for did fairly well considering they picked up all of us contractors dumped from previous employers due to the govt contract reorganization..

 

[axnff]

I had a .98% raise last year; previous raises were 3%, 1.2%, 3%, 1.125% and 5%. Anything below cost-of-living I find offensive. Every single one of the <3% raises failed to even cover the increase in insurance premiums, let alone inflation. The two 3% years were accompanied by decreases in insurance coverage (the first one coincided with a doubling of the copay and a doubling of the coinsurance, and the second one came with a doubling of prescription co-pay).

If you're budgeted so tight that contributing 1% pre-tax hinges on how good a raise you get, you shouldn't even consider that extra contribution at all, IMHO....

 

[radioouman]

Originally posted by: axnff
I had a .98% raise last year; previous raises were 3%, 1.2%, 3%, 1.125% and 5%. Anything below cost-of-living I find offensive. Every single one of the <3% raises failed to even cover the increase in insurance premiums, let alone inflation. The two 3% years were accompanied by decreases in insurance coverage (the first one coincided with a doubling of the copay and a doubling of the coinsurance, and the second one came with a doubling of prescription co-pay).

If you're budgeted so tight that contributing 1% pre-tax hinges on how good a raise you get, you shouldn't even consider that extra contribution at all, IMHO....

I'm not budgeted that tightly... it was just a way to offset my decrease in retirement contribution without a noticable decrease in my take home pay. That's all.

 

[dainthomas]

1.8% = Suck
3% match = Super Suck

 

[lozina]

I think inflation rose by 3 or 3.5% last year...

 

[Queasy]

1.8% raise and they reduced the amount of the 401k match? Time to start looking for a new job before they start cutting back employees.

 

[Kelemvor]

Get a new job if you only get a 1.8% raise.

 

[KDOG]

I got a 2% raise a couple weeks ago. Our company hasn't been doing all that well so I'm not complaining. Its better than nothing - you boss doesn't HAVE to give squat.

 

[drum]

Originally posted by: AdamSnow
1.8? Weak...

19%...

19% of 0 is still 0. thats what i always tell my boss anyway

 

[EKKC]

1.8%? start looking for another job?

i went from 20%, 10%, 4, then 2%, that's when i had it and left for another company, for a 60%+ raise, and i left last month for another one. i now make double of what i was making last year and less work

what do you do, OP, i mean what is your job

 

[radioouman]

Originally posted by: EKKC
1.8%? start looking for another job?

i went from 20%, 10%, 4, then 2%, that's when i had it and left for another company, for a 60%+ raise, and i left last month for another one. i now make double of what i was making last year and less work

what do you do, OP, i mean what is your job

Engineer... I'm not looking for an outrageous raise. Just something to keep up with the cost of living, and especially a little something for finishing a masters in engineering in the past year.

I have been forced to travel a whole lot more in the past six months, and I've had a lot more responsibilities dumped on me as I'm trying to develop a new division under research and development in this company. It has been an uphill struggle, and not really worth it IMO...

 

[JoLLyRoGer]

Originally posted by: radioouman

Originally posted by: EKKC
1.8%? start looking for another job?

i went from 20%, 10%, 4, then 2%, that's when i had it and left for another company, for a 60%+ raise, and i left last month for another one. i now make double of what i was making last year and less work

what do you do, OP, i mean what is your job

Engineer... I'm not looking for an outrageous raise. Just something to keep up with the cost of living, and especially a little something for finishing a masters in engineering in the past year.

I have been forced to travel a whole lot more in the past six months, and I've had a lot more responsibilities dumped on me as I'm trying to develop a new division under research and development in this company. It has been an uphill struggle, and not really worth it IMO...

You've got an engineering masters? You can make BUCKS dude. Get out of there. Around here the job market opportunities for engineers is second only to nursing!

 

[TGregg]

I don't think there's that many openings for folks who drive a train.

(Somebody had to make that joke)

 

[Noirish]

1.8% raise for engineer? that's rough.