Would you consider 4.4% a decent raise?

[MagnusTheBrewer]

Look at what's going on with Corporate America. Every thing is switching to job based staffing. There is no such thing as a career with a corporation anymore. You want a raise? Change jobs and or location or, you can stay in your exact same job earning the exact same pay until you die. Next!

 

[oddyager]

Originally posted by: XxPrOdiGyxX
Yeah, it's not that good. 4.4% is probably around the standard average. I'm lucky. I got 6.4% after my first six months (I came in in the middle of the year), 13.3% this past March, and 10% out of cycle last month.

Where the heck are you working?


OP, that is good. Consider the standard norm around is 3% per year (city workers negotiating through contracts get much less) and you have some companies won't even give raises.

 

[ultimatebob]

Considering that both food and energy prices have gone up over 10% over the past six months, I'm going to answer "HELL No!"

I've already quit jobs that offered me better raises than that in the past, because I knew that I was worth more. If you're not keeping up with the median estimated salary for your position, you should start looking elsewhere.

 

[thomsbrain]

I don't think it's good, but my raise will probably be less than that since we have a capped system. Any raise is better than nothing, I guess.

 

[Special K]

Originally posted by: MagnusTheBrewer
Look at what's going on with Corporate America. Every thing is switching to job based staffing. There is no such thing as a career with a corporation anymore. You want a raise? Change jobs and or location or, you can stay in your exact same job earning the exact same pay until you die. Next!

Yeah, I think it's kind of sad that people in today's workforce will get excited about getting a cost of living increase that just covers inflation. You would think that an employee who is at least meeting their goals shouldn't have to worry about having their real earning power go down year after year. Obviously the raises and promotions above inflation would still go to the top performers.

I keep reading articles about how real wages have remained stagnant for nearly a decade now. I wonder how much of the economic growth we have experienced in recent years is due more to the easy access of money through CCs, HEL's/HELOC's rather than actual wage increases. It doesn't sound like something that can be sustained indefinitely.

 

[FoBoT]

only top performers around here get higher than 3.9% , so that would be very good for where i work

 

[BurnItDwn]

It may not be extraordinary, but it's certainly not bad either. I'd say overall, it's a decent raise.

 

[XxPrOdiGyxX]

Originally posted by: oddyager

Originally posted by: XxPrOdiGyxX
Yeah, it's not that good. 4.4% is probably around the standard average. I'm lucky. I got 6.4% after my first six months (I came in in the middle of the year), 13.3% this past March, and 10% out of cycle last month.

Where the heck are you working?


OP, that is good. Consider the standard norm around is 3% per year (city workers negotiating through contracts get much less) and you have some companies won't even give raises.

Major government contractor as a software engineer. My starting base was 44 or 45K. So it wasn't that great of a starting salary...but it was my first job. My particular operating unit takes care of their people unlike the rest of the company.

Edit: I've already been told to not expect that kind of raise this year. It was more so that I could quit my second job. I'll probably be getting industry standard the next pay raise.

 

[Nitemare]

above inflation is always good

 

[MagnusTheBrewer]

Originally posted by: Special K

Originally posted by: MagnusTheBrewer
Look at what's going on with Corporate America. Every thing is switching to job based staffing. There is no such thing as a career with a corporation anymore. You want a raise? Change jobs and or location or, you can stay in your exact same job earning the exact same pay until you die. Next!

Yeah, I think it's kind of sad that people in today's workforce will get excited about getting a cost of living increase that just covers inflation. You would think that an employee who is at least meeting their goals shouldn't have to worry about having their real earning power go down year after year. Obviously the raises and promotions above inflation would still go to the top performers.

I keep reading articles about how real wages have remained stagnant for nearly a decade now. I wonder how much of the economic growth we have experienced in recent years is due more to the easy access of money through CCs, HEL's/HELOC's rather than actual wage increases. It doesn't sound like something that can be sustained indefinitely.

Exactly! You know big money's response, "it's not our fault if the rabble is fiscally irresponsible."

The net result is all real goods will be produced overseas and services will be the only industry left in America. Of course, ownership of those services will be outside the U.S.

My favorite question is "What business are you in?" Are you in business to get the highest return on investment in the shortest time possible? If so, continue with outsourcing, down sizing and, consolidation. Are you in business to supply goods or services you are passionate about? Then, think about the effects your decisions will have on your company 10 or 20 years down the road! The two viewpoint are indeed mutually exclusive.

 

[LS21]

its not a raise if you cant feel it in your paycheck
a 4.4% raise on 50k net is 2200$
that's 90$ per paycheck.
after taxes and savings and various contributions that's 60$ in-pocket per paycheck. i lose that much in my pants doing laundry every week.

also, if you happen to be at the tax bracket margins, that small bump will result in pocket change

 

[MagnusTheBrewer]

Originally posted by: LS21
its not a raise if you cant feel it in your paycheck
a 4.4% raise on 50k net is 2200$
that's 90$ per paycheck.
after taxes and savings and various contributions that's 60$ in-pocket per paycheck. i lose that much in my pants doing laundry every week.

also, if you happen to be at the tax bracket margins, that small bump will result in pocket change

Can I please do your laundry?

 

[oddyager]

Originally posted by: LS21
its not a raise if you cant feel it in your paycheck
a 4.4% raise on 50k net is 2200$
that's 90$ per paycheck.
after taxes and savings and various contributions that's 60$ in-pocket per paycheck. i lose that much in my pants doing laundry every week.

also, if you happen to be at the tax bracket margins, that small bump will result in pocket change

Doesn't matter. You'd have to make staggering amounts of money regardless to feel 4.4%. Someone who makes 100K is going to see $4400 (not including taxes) but their expenses are probably higher than the person making 50K. It'll balance out in the end and a raise is a raise.

 

[Vonkhan]

I got 4% last year - didn't feel it at all

I got 24% this year - THAT I felt, got giddy and all

 

[LordSnailz]

It's all relative, depends on the size of the company and what industry you're in. A better comparison would be what your peers got.

 

[Scouzer]

I get 6.5% minimum a year for the next 8 years... so I'd say no.

 

[Ruptga]

Originally posted by: rdubbz420
after inflation it's only like 1%.

but it is more than inflation, which is more than quite a few people get.

 

[wiredspider]

Originally posted by: ultimatebob
Considering that both food and energy prices have gone up over 10% over the past six months, I'm going to answer "HELL No!"

I've already quit jobs that offered me better raises than that in the past, because I knew that I was worth more. If you're not keeping up with the median estimated salary for your position, you should start looking elsewhere.

So why did you take the jobs in the first place if they were underpaying....

 

[fishjie]

my raise was like 3% so i got pwned

your best bet is to interview with other companies, get an offer in writing, and use that as leverage to up your salary. if they don't do it, quit and work for the other company.

 

[Liviathan]

Better than most.

 

[Kelvrick]

I only got a 4.05% and I work my ass off for 2 months out of the year.

 

[lokiju]

Yes considering I only get 3.5%

 

[LS21]

Originally posted by: oddyager

Doesn't matter. You'd have to make staggering amounts of money regardless to feel 4.4%. Someone who makes 100K is going to see $4400 (not including taxes) but their expenses are probably higher than the person making 50K. It'll balance out in the end and a raise is a raise.

exactly. thats why we discuss in percentages. and at that - 4.4 is pretty low. not saying whether that is something people should expect or strive for, but that its low

 

[Slapstick]

That's more than I've gotten in one year over the past several years, most raises are in the realm of 3%. I'm just happy to have a job that has decent medical insurance and take home enough to pay the bills.

 

[DrPizza]

Originally posted by: oddyager

Originally posted by: LS21
its not a raise if you cant feel it in your paycheck
a 4.4% raise on 50k net is 2200$
that's 90$ per paycheck.
after taxes and savings and various contributions that's 60$ in-pocket per paycheck. i lose that much in my pants doing laundry every week.

also, if you happen to be at the tax bracket margins, that small bump will result in pocket change

Doesn't matter. You'd have to make staggering amounts of money regardless to feel 4.4%. Someone who makes 100K is going to see $4400 (not including taxes) but their expenses are probably higher than the person making 50K. It'll balance out in the end and a raise is a raise.

But, a lot of expenses are fixed. Mortgage & car payment are probably a significant chunk of most people's expenses. Last I checked, my mortgage didn't go up by 4%...
Oh crap, I forgot that property taxes went up.


Still, it balances out for people who are living at the edge of their means. But, for people living below their means - not buying the most expensive house they can afford, not purchasing the most expensive car they "can afford", they'll notice that increase in income. And for them, a good thing to do with that extra income (or some of it) is dump it straight into a TSA of some sort.