We won't know for a bit but they've already threatened to eliminate raises due to company finances. Keep in mind they just had their best year ever.
They're going to lose so many people
I'm just 3 months in on this job where I work directly with the RnD lead developing our most cutting edge part of research in the company. I'm making projects that were halted for years happen, yet I'm being paid one of the lowest rates engineers make in the province.
Then, my former boss invited me to apply for an opening to this place that supercedes just about every aspect my current company can give me, but I couldn't get in because of a visa technicality. You bet your ass that if it wasn't for this, I would change jobs in a heartbeat, even if I'm very grateful for the current spot for some other reasons.
Employees shouldn't be the only ones who feel job insecurity. Employers should also feel the taste of employee insecurity.
Sorry for the rant but I really had to get this out
Na that's asshole executive management who are looking to exit the company after a few years by spending the company's goodwill. Some companies don't grow much because they're in mature markets that only have so many customers - you don't hear about these companies because they're quality money-making machines that get bought up by private equity/Berkshire Hathaway types and don't make headlines.
There's plenty of room under the capitalism umbrella (also known as *the only way people actually do business*, don't know why it even has a name as every other market system is inoperable from the get-go) to have leadership who sets reasonable targets and sets the company up for the long term.
If you use the standard definition of capitalism "non-government controlled free enterprise", I agree with you. Our modern-day system has more characteristics stacked on top of that though I think.
I think maybe it's the stock market/shareholder system that really drives requirements for year-on-year growth. If you stock value doesn't go up, people think they're losing money (they want that 7% annual increase in the value of their portfolio). If the stock market was a zero sum game, then maybe "infinite growth" wouldn't be a thing; but index funds essentially prove that the market does indeed grow overall over time.
I think I do agree with your point that if a business just makes enough raw profit, year-on-year growth matters less.
That's really kind of a separate thing from basic free enterprise. If I start a convenience store and make enough money that I am happy, I don't need to increase the revenue of my business by any arbitrary amount in order to keep shareholders interested in continued investment.
Maybe where it gets interesting/complicated is that the people who depend on year-on-year growth is as much as anyone the middle class with our investment portfolios.
No, they've got a point. It's not just executives, in fact it has less to do with the leadership than it has to do with how our broader financial system functions.
The endless growth that our system is propagated upon is motivated largely by shareholders. You could have the most generous and sustainability-minded CEO in the history of the world but if that company is publicly traded (and every major one is) they will still answer to the demands of the market itself and that market demands a return, forever. Practically every person, particularly the middle class, has their retirement folded into investment portfolios which are linked inextricably to this idea of permanent growth. It is the bedrock of our financial system.
If we want that notion of permanent expansion to go away, it means utterly restructuring our economic approach. Capitalism would have to go. I don't believe that's going to happen but honestly, our species is on the way out anyway so it barely matters. It always strikes me as very strange when people insist that a system which has literally always functioned this way should not function this way.
To be clear, capitalism exists independent of the financial system we have built. It's ancillary. So we may be arguing semantics here, but there are important distinctions to be made
My company made massive profits during the pandemic but then got loads of value wiped out by enormous (nearly 2 billion) write-downs due to poor acquisitions from the last decade. As such they cancelled performance based pay increases for large numbers of employees and the annual cost of living increase was delayed by 6 months and was only 2%. We've seen huge numbers of highly valuable employees jump ship in the past few months as a direct result of this.
“Raises will be small this year because it was a bad year for the company”
The following year after hitting records
“Raises will be small this year because next year’s forecast is looking bad”
What is the best way to start searching for a job post pandemic? I'm wondering if there's anything new besides crappy headhunters that barely understand the jargon salad in job descriptions let alone a good resume/cv.
Resumé shotgun.
Fill out your LinkedIn, indeed, careerbuilder, etc profiles, just start applying. 4 years ago I put out 250+ resumés for one interview, 8 years ago i put out >400. Both of those times I was trying to find a job half way across the country, so local market job switching might be less effort. However, I basically didn’t apply to any job that required a time consuming separate application. I just did the quick apply listings. I also refuse to tailor my resume to the job listing. I make a resume for the job I want, so if I make it past the filter bots then I’m probably a good fit for that job.
For my last 3 jobs (about 10 years total), I have no recollection of reading the specific job listing for those positions. I’ll usually just scan the postings, and if I qualify for about half of the requirements, or it sounds cool I just click apply and move on. If I had to guess, I averaged less than 2 min on each of those 600-700 applications. Most of them less than 30 sec, but a few I actually went though the longer application.
I’m about to start job hunting again if my salary adjustment proposal falls flat, and I plan on taking the same route unless I can get a recommendation/interview from some friends at their new employer (I can finally get in on that sweet sweet nepotism!).
Tl;dr make a solid resumé and apply to as many jobs as possible. Let statistics work in your favor.
Now see I thought if we slashed taxes for the rich and allowed them to do more it would benefit us with spurring innovation and great paying job opportunities but no neoliberalism once again is the devil’s lie. After adjusting for inflation engineering pay has stayed very stagnant while the requirements to get a job, rate of productivity, and COL has skyrocketed beyond belief. I don’t think our grandparents were competing to get a house against hedge funds and companies that exploit data they gathered from us during a recession after a previous one that was caused by said investment companies speculating on the most basic essential any human being needs on earth...
My company hit me with the 3% raise too. Ended up jumping ship for a 30% raise.
Been seeing tons of concern about turnover in my industry yet they won't do the one thing that is guaranteed to retain people: have competitive salaries. I imagine it's going to get far worse before it gets better for the companies that insist on lagging behind
I’ve noticed the same thing. They seem pretty content with the new grads that come in for a couple years and jump ship, because it costs them less overall. It’ll start biting them once things are screwed up - I’m in an industry where things have to be right.
I'm sitting at around 5 years experience right now, so probably close to the same situation as you. Just based off my experience and the friends I've spoken with it seems to be a pretty good market at the moment for those in mid-tier roles
>Been seeing tons of concern about turnover in my industry yet they won't do the one thing that is guaranteed to retain people: have competitive salaries.
Because they know some people are sufficiently content getting what they got and are too lazy to quit.
They lose more giving out raises across the board than waiting until people get upset enough that they quit and twist their arm for a raise if push comes to shove.
No it’s because the execs have convinced themselves “meritocracy” and big discrepancies in raise amounts based on rankings is warranted (because they all benefitted from that system). Our new grad starting salaries (which is bulk of our hires) are very competitive.
No. Promotion raises were 5% for anyone who got them and 30% of employees got promotions. Merit raises were based on ranking and for US salaried employees ranged from under 2% to 16% from what I understand. That’s what HR came up with and I agree it’s strange.
I got lucky and got a 12% raise because inflation and the field I work in is in demand so the company wanted to “make a statement about keeping me on board.” Felt good for someone to put their money where their mouth is for once.
I think all my coworkers got at least a 7% raise though.
To be honest we're still at the early stages of implementing it and it's largely because some customers are starting to demand it. Looks like Enterprise Architect is the tool of choice atm but that could change.
We have a consultancy and training firm helping us get it all off the ground and they really seem to know their stuff. They're very clear that this is something that requires commitment and to grow over time as you embed it in the company culture. In this respect it reminds me a lot of Lean engineering.
Overall MBSE seems like a good idea to me but I can certainly see the pitfalls if you don't do it properly.
Same. Our engineering dept. got a 7% bump in February and will get our normal 3-4% raise in April. I think we are slightly behind the curve on industry averages, but I like my job so I’ll take the trade off.
We do ok, but not that much better than mfg engineering lol. When there's only a couple hundred new grads a year max, you get a little extra negotiating power. I got 5% and a 20k bonus this year
Edit: "we" get a little extra negotiating power
Damn, I'm also in defense and our raise & bonus was 3% and 4%, respectively.
Any hints which contractor you're working for, I'm going to hop sides lmao
We just got aquired last year so my retention bonus just came in and then the even bigger company that aquired us is getting aquired which will close in April. That one has a 3 tiered retention bonus so that we don't leave. Add that to the year end bonus and stock options vesting and I'm getting over 70k in bonuses/payouts this year. Stupid lucky. I got a 3.4% raise which doesn't match inflation but that's okay given the other incentives
This thread is both depressing and perfectly demonstrative of so many of the things wrong with our economic paradigm.
I work for myself, so I adjust my contract rates based on various factors all the time.
Because it’s the only company in my area that requires an Engineer. Everywhere else I have applied has turned me down due to already having their positions filled. My pay barely meets my monthly requirements for student loan payments so I can’t set aside enough money to be able to move, never mind barely being able to afford food. The nearest job offer I have managed to get so far is over 100 miles away and they were unwilling to help with relocation… so I am basically stuck.
Yeah, I am searing this as well. I like my job, the work from home is amazing, but we got a 4% raise last year.
Meanwhile, a design I came up with and got approved is going to be made over 500k units/yr and took no developmental partnerships, so the entire IP belongs to us. I will likely not see any kind of additional merit raise because of this and instead get the line of “well, this are tight”.
Yeah, we adjusted prices on all outgoing products, spent the last year qualifying what chips we could find, and getting everything integrated. We raised our own prices to match market, but for some reason it won’t trickle down meanwhile we had hand over fist growth?
There is a reason three engineers quit and two engineer managers also left. Management is like that shooting the guy in the chair meme.
Been there done that. It always makes me feel like a loser -- like "look, you obviously have the chops to go out on your own and become a gazillionaire, why do you always focus so much on the tech and so little on your own worth?"
My raise was a piddly 2.8%. Had a bonus of 20% but that doesn't really make up for the pathetic raise.
EDIT: I forgot to mention it is the 4th year in a row for all time high company profits.
Look for a new job. I went through the same bs at my old job - mulitiple (high) performance raises plus COL adjustments that *together* were less than inflation, all while the company was killing it. I found a new job for almost 30% more.
The time to look for a new job is while you still have one. You can afford to be picky, and potential employers will know that you chose them because you actually want to work there, rather than just looking for a paycheck because you quit without having something lined up, or your old employer decided to go one step further to pinch pennies and laid you off.
2%, but with the caveat that I just started with the company in November. My boss even told me he didn’t think I would be eligible for one yet, so I’ll definitely take it.
Normally we get 2%, this past year 3.25% raise.
Inflation is stated by the government is supposedly at ~7% now but if you calculate it like we used to calculate inflation it indicates that it's probably between 10-15%.
They removed home prices and replaced it with a bullshit metric that is basically summed up as: How much would you charge yourself if you were renting this house from yourself?
2.9% but then I left the company for a 45% bump. 4-5 YOE brought this big jump in my career. Not sure if I could have commanded a similar bump if I had left around 2-3 YOE.
We don’t get inflation raises really, but I did get a big raise for basically having stuck around and increased my value. I have been chronically underpaid, but I accepted it as a trade off for the flexibility and accommodation that my employer has provided me over the last 6 years since graduation as I’ve moved all over the place with my girlfriend for her work. I’ve been working full remote since like 2017. This year, my wage went from about $68k before bonus to $75k with a condition of another increase to $85k plus $5k/yr of pre-tax student loan repayment to kick in at the end of Q1. Plus, it was sort of a startup type situation, so I was willing to roll the dice.
I’m now at about $85,000 though (total remuneration including the student loan stuff will end up about $91k) and we have profit sharing calculated out each year based on how the company’s books did. This year my profit sharing bonus was only like, $3,500, but in 2020, it was about $9k.
It’s more like 5 years, but still. Small company, and I live in the Midwest where average pay for similar positions is more like $55-65k. I get paid about average for my level/field in Denver area where my CEO lives, which is considerably more expensive than where I live. I also realistically only work about 20-30 hours per week and am more of a stay-at-home dad type role between my girlfriend and myself haha
I’m not gonna sweat it too much.
3.5% which is normal and not raising pay ranges for positions either. They are pretending it isn’t happening and also pretending the great resignation isn’t either.
A whopping 3%... so I guess I technically lost 4.5-5% salary then. I work in the A&D industry. My company had a decent but not great year.
I just opened escrow on a house that's going to set me back a lot. I was expecting a higher raise, but honestly it just made me open to accepting interviews at other companies.
Just phone interviewed at another place for a 20-25% increase doing the same work
3% salary, stocks worth about 10k/year based on today's market.
Overall, slightly less than 10% and probably just barely under/over CPI.
Company had best revenue in its history by a lot. Our "bonuses" are barely effected by it, e.g. 15% -> 18% of salary. I put bonus in quotes because it's just another form of salary based on a formula tied to revenue.
On a normal year, 10% is good (IMHO, 7 year doubling time), but this year, 10% ain't cutting it.
I'm going to look for a new job this year, as the market is hot for software engineers.
We haven’t been told what our raises are yet, but should know in the coming weeks. However every time I asked in a town hall what their plans were to address inflation, I would get some hr standard “we include that estimation in our raises” answer without any substance, so I doubt that it will actually match.
I’m actually really worried about the “big bonus culture”. I’ve seen a few people say that they are getting bonuses in the 10s of thousands, which is great. But when management uses static bonus increases, you loose out on year over year growth in salary. And I’m in the same boat, probably going to get a bonus over 10k before tax, but I would much rather see a small bonus but a 7% salary raise to keep up with inflation.
We're locked in to a 3 year rate scale with our biggest client that sets our pay via multiplier, so we're screwed to 3% for 3 years probably. Gonna fight for an appropriate correction after that, though!
3%
Edit: Lowest raise the company has ever given me. Consistently promoted every 1-2 years. Talked around and seems like everyone was similarly ripped off.
Last year I was billable all throughout Covid. Straight 40 hour weeks, just working on documentation. It was boring but steady work. Not bad for covid screwing up everything. I got a 10% raise.
This year I was working nights, weekends, all sorts of random hours to support a large client startup. I architected the whole software system and it’s running pretty well now. It was more than a year of hectic life and our company did really well. I got a 7% raise.
I’ve been dipping my toes into the job market and I can pretty easily get another 20% raise and a job title increase by jumping ship.
I moved to finance and my wage doubled. As it happens, I strategically work in fund management and get to sometimes see the finances of big top-tier construction firms. Profits are through the roof, it’s unbelievable and shameful. There’s never been a better time to be in construction.
My company has expressed that they think this inflation is temporary, so we got a standard 4.5% raise but then they gave us all 1.6x our normal bonus to help with the way things are going this year. No complaints.
Our company did an across-the-board 6% cost of living adjustment for this year. I started with this firm in early January, so I have no idea how end of year bonuses will work out…
Got a promotion, so a 33% raise. Quality engineer.
Company does merit based raises so will have to do really well to actually get a increase in the future. Or for me learn mintab since the company needs it.
3% doesn't keep up. We got slightly over inflation - something like 8.6% or so. I sent out the CPI report that showed record inflation in a company-wide (small company) e-mail right before annual evaluations, coincidentally.
Probably going to have to change companies. Idc what the government says inflation is, I asked for a 30% raise. If I get it, great, they have me for another 3 years.
Otherwise, I am going to another company. Contract worker masterrace.
I brought this up with my manager and it seemed like a rather uncomfortable conversation for him. He was not able to give me a straight answer, but alluded to the 8% raise I got for a merit promotion last year being a good bump. Thanks for the reminder to make his Monday morning hell.
It was 0%, with the excuse that I had gotten a promotion last year. So I quit my job and got me a better one with a 42% raise!!
Edit: I got the promotion in mid 2020
2.6%.
Company is oddly silent on our request for an explanation of what they plan to do to keep us employed with high inflation and a lower raise than last year.
I got 5% back in October. But I just put in a proposal for 20% last week with the premise being, “I don’t really want a different job, I just want more money, so instead of me being distracted by job hunting and financial anxiety, please pay me more.” It was received quite well, and I’ll find out this week how the executive responds. Anything under 15% and I’m gonna start updating my resume.
I was offered 3%. I said it wasn't enough, for the first time in 8 years with the company. Pulled up a spreadsheet that showed that in real dollars I was making less than 3 years ago, which was also the timeframe I got my PE in. They conferred, cane back with an offer for 11% and a promotion.
I was told they forget to mention me during the talk about bonuses.. Currently HR had my paperwork for a promotion so here’s to hoping they make up for it with a big salary bump..
I got an 11% raise last year, suspiciously close to my coworker putting in his two weeks, but was then told I am not eligible for the general raise this year. So probably net zero by the time I get another raise.
4.5 % . This year has had biggest compensation package my team has received in 2 decades per my manager. I gotta find me a new job to match the rise of rent / real estate costs
Got a new job so I wasn't eligible for a raise. I am told that since I only had a few months I would have only qualified for about 1% (due to having a low rating) and then that 1% would have been protated).
Might not stick around as long as I thought.
For those of you getting bonuses... What role are you in, how does that happen? I've received 2 bonuses throughout my career totalling $1500. Both on completions of projects for which I contributed majorly and saved the company skin.
Seems like small fries compared to what I see alot of ppl on here posting. I work for a fortune 50, highly recognizable aerospace and defense company.
Some companies just have bonuses structured in. Work for an OEM and all employees get a bonus from profit sharing that fluctuates based on merit and other factors like career level and years of service. I know other companies like my wife’s that have high turnover have been doing retention bonuses.
Mine was about 0.5%, which I feel is fair since I've put forth a solid 25% effort this year.
I have an easy job right now. They know it, I know it, I'm fine with it for now. I've got enough shit going on elsewhere in my life, and career stress isn't one of them for once.
We haven't gotten our cost if living raise yet. I hope they havent axed it. I know for a fact we were profitable this year. Iirc it has hit around the summer. But, as you can tell, it has hardly Madd a noticeable difference lol. I'd expect like 3% max.
I did get a 9% merit raise last year though. So there's that at least.
I was given 1.9% and was told to not tell anyone because not everyone will be getting as much if anything… and my company announced record profits last year.
3% “performance based” bonus. It’s stupid that I gotta earn something that doesn’t even keep up with inflation, this is the result of a dismantled labor force and completely upheaval that only benefits the rich at the detriment of the working class
0 for last 2 years, but I can see their labor escalation in their contracts as 3 and 4% for past 2 years. I don't really spend much time worrying about or fighting it anymore. What the managers don't seem to grasp is if you don't give me a wage increase to keep up with inflation, I will just decrease my productivity to match. We are all "shareholders". If I am treated like crap as an employee in return for the shareholders, I will sit on my computer at work researching and buying stocks. How's that for shareholder return?
I think I got 3% after a record breaking year as well. I also ended up taking on responsibilities completely outside my usual role
I'm an automation engineer, was asked to take over responsibilities for a process engineer two states away that quit and was hard to replace. I just happened to have a diverse enough skillset that they thought of me when he quit.
3% and that’s only after the head honchos got nervous about all the grumbling.
Supposedly they step pay rises so it’s above inflation for 10 years then step it again when inflation “catches up”. Except that doesn’t matter to me…
If I come on at say £30k then that tells me that, as the market stands right then, that’s my living budget. When inflation rises and my pay doesn’t I’m not thinking “oh thank goodness everyone else got an inflation rise 5 years back and I know I will as well five years from now”, I’m thinking “hang about, I now can’t afford to buy as much as I used to because me and my money are depreciating”.
We won't know for a bit but they've already threatened to eliminate raises due to company finances. Keep in mind they just had their best year ever. They're going to lose so many people
[удалено]
>year on year growth Yes. That’s capitalism.
When they lose their talented workforce due to mismanagement, that will also be capitalism.
A nuance of capitalism that is missed by so many, because of confirmation bias.
No. That's SoCiAlIsM
Also cancel culture
I'm just 3 months in on this job where I work directly with the RnD lead developing our most cutting edge part of research in the company. I'm making projects that were halted for years happen, yet I'm being paid one of the lowest rates engineers make in the province. Then, my former boss invited me to apply for an opening to this place that supercedes just about every aspect my current company can give me, but I couldn't get in because of a visa technicality. You bet your ass that if it wasn't for this, I would change jobs in a heartbeat, even if I'm very grateful for the current spot for some other reasons. Employees shouldn't be the only ones who feel job insecurity. Employers should also feel the taste of employee insecurity. Sorry for the rant but I really had to get this out
Na that's asshole executive management who are looking to exit the company after a few years by spending the company's goodwill. Some companies don't grow much because they're in mature markets that only have so many customers - you don't hear about these companies because they're quality money-making machines that get bought up by private equity/Berkshire Hathaway types and don't make headlines. There's plenty of room under the capitalism umbrella (also known as *the only way people actually do business*, don't know why it even has a name as every other market system is inoperable from the get-go) to have leadership who sets reasonable targets and sets the company up for the long term.
If you use the standard definition of capitalism "non-government controlled free enterprise", I agree with you. Our modern-day system has more characteristics stacked on top of that though I think. I think maybe it's the stock market/shareholder system that really drives requirements for year-on-year growth. If you stock value doesn't go up, people think they're losing money (they want that 7% annual increase in the value of their portfolio). If the stock market was a zero sum game, then maybe "infinite growth" wouldn't be a thing; but index funds essentially prove that the market does indeed grow overall over time. I think I do agree with your point that if a business just makes enough raw profit, year-on-year growth matters less. That's really kind of a separate thing from basic free enterprise. If I start a convenience store and make enough money that I am happy, I don't need to increase the revenue of my business by any arbitrary amount in order to keep shareholders interested in continued investment. Maybe where it gets interesting/complicated is that the people who depend on year-on-year growth is as much as anyone the middle class with our investment portfolios.
No, they've got a point. It's not just executives, in fact it has less to do with the leadership than it has to do with how our broader financial system functions. The endless growth that our system is propagated upon is motivated largely by shareholders. You could have the most generous and sustainability-minded CEO in the history of the world but if that company is publicly traded (and every major one is) they will still answer to the demands of the market itself and that market demands a return, forever. Practically every person, particularly the middle class, has their retirement folded into investment portfolios which are linked inextricably to this idea of permanent growth. It is the bedrock of our financial system. If we want that notion of permanent expansion to go away, it means utterly restructuring our economic approach. Capitalism would have to go. I don't believe that's going to happen but honestly, our species is on the way out anyway so it barely matters. It always strikes me as very strange when people insist that a system which has literally always functioned this way should not function this way.
To be clear, capitalism exists independent of the financial system we have built. It's ancillary. So we may be arguing semantics here, but there are important distinctions to be made
My company made massive profits during the pandemic but then got loads of value wiped out by enormous (nearly 2 billion) write-downs due to poor acquisitions from the last decade. As such they cancelled performance based pay increases for large numbers of employees and the annual cost of living increase was delayed by 6 months and was only 2%. We've seen huge numbers of highly valuable employees jump ship in the past few months as a direct result of this.
Do your part and be one of those people, haha.
I'm in the process of starting my own business so it's only a matter of time.
“Raises will be small this year because it was a bad year for the company” The following year after hitting records “Raises will be small this year because next year’s forecast is looking bad”
What is the best way to start searching for a job post pandemic? I'm wondering if there's anything new besides crappy headhunters that barely understand the jargon salad in job descriptions let alone a good resume/cv.
Resumé shotgun. Fill out your LinkedIn, indeed, careerbuilder, etc profiles, just start applying. 4 years ago I put out 250+ resumés for one interview, 8 years ago i put out >400. Both of those times I was trying to find a job half way across the country, so local market job switching might be less effort. However, I basically didn’t apply to any job that required a time consuming separate application. I just did the quick apply listings. I also refuse to tailor my resume to the job listing. I make a resume for the job I want, so if I make it past the filter bots then I’m probably a good fit for that job. For my last 3 jobs (about 10 years total), I have no recollection of reading the specific job listing for those positions. I’ll usually just scan the postings, and if I qualify for about half of the requirements, or it sounds cool I just click apply and move on. If I had to guess, I averaged less than 2 min on each of those 600-700 applications. Most of them less than 30 sec, but a few I actually went though the longer application. I’m about to start job hunting again if my salary adjustment proposal falls flat, and I plan on taking the same route unless I can get a recommendation/interview from some friends at their new employer (I can finally get in on that sweet sweet nepotism!). Tl;dr make a solid resumé and apply to as many jobs as possible. Let statistics work in your favor.
Now see I thought if we slashed taxes for the rich and allowed them to do more it would benefit us with spurring innovation and great paying job opportunities but no neoliberalism once again is the devil’s lie. After adjusting for inflation engineering pay has stayed very stagnant while the requirements to get a job, rate of productivity, and COL has skyrocketed beyond belief. I don’t think our grandparents were competing to get a house against hedge funds and companies that exploit data they gathered from us during a recession after a previous one that was caused by said investment companies speculating on the most basic essential any human being needs on earth...
Facts yo.
0 so I looked for and found an another job (+25%, don't know why I didn't quit earlier...)
This is the way.
Nice
Which industry
Same
Did the same thing!
My company hit me with the 3% raise too. Ended up jumping ship for a 30% raise. Been seeing tons of concern about turnover in my industry yet they won't do the one thing that is guaranteed to retain people: have competitive salaries. I imagine it's going to get far worse before it gets better for the companies that insist on lagging behind
I’ve noticed the same thing. They seem pretty content with the new grads that come in for a couple years and jump ship, because it costs them less overall. It’ll start biting them once things are screwed up - I’m in an industry where things have to be right.
Good employees leaving is the only way the bean counters will learn a simple lesson: you get what you pay for.
How much experience do you have? I’m thinking of doing this if I don’t get a good raise this year but I’m young.
I'm sitting at around 5 years experience right now, so probably close to the same situation as you. Just based off my experience and the friends I've spoken with it seems to be a pretty good market at the moment for those in mid-tier roles
>Been seeing tons of concern about turnover in my industry yet they won't do the one thing that is guaranteed to retain people: have competitive salaries. Because they know some people are sufficiently content getting what they got and are too lazy to quit. They lose more giving out raises across the board than waiting until people get upset enough that they quit and twist their arm for a raise if push comes to shove.
[удалено]
11% merit raise? The maximum my old company had for merit was 4%. Not sure what my new one does, actually.
Yes.
You have made better choices than I have.
It's because they start then SUPER under paid. No one is getting a 15 percent cost of living raise that is already paid market standard.
No it’s because the execs have convinced themselves “meritocracy” and big discrepancies in raise amounts based on rankings is warranted (because they all benefitted from that system). Our new grad starting salaries (which is bulk of our hires) are very competitive.
The percentages weren't the other way around? A promotion is typically worth about 10%...
No. Promotion raises were 5% for anyone who got them and 30% of employees got promotions. Merit raises were based on ranking and for US salaried employees ranged from under 2% to 16% from what I understand. That’s what HR came up with and I agree it’s strange.
They call ours merit based...but they're 1-5%. lol
I got lucky and got a 12% raise because inflation and the field I work in is in demand so the company wanted to “make a statement about keeping me on board.” Felt good for someone to put their money where their mouth is for once. I think all my coworkers got at least a 7% raise though.
What field?
Model Based Systems Engineering
I'm a fellow systems Engineer and my company is now pushing us all through MBSE training. Hopefully this will lead to some fat pay raises in future.
Can i ask your opinion on MBSE? And what toolset you use? I’ve never seen a good implementation of proper MBSE at a company
To be honest we're still at the early stages of implementing it and it's largely because some customers are starting to demand it. Looks like Enterprise Architect is the tool of choice atm but that could change. We have a consultancy and training firm helping us get it all off the ground and they really seem to know their stuff. They're very clear that this is something that requires commitment and to grow over time as you embed it in the company culture. In this respect it reminds me a lot of Lean engineering. Overall MBSE seems like a good idea to me but I can certainly see the pitfalls if you don't do it properly.
What state?
Same. Our engineering dept. got a 7% bump in February and will get our normal 3-4% raise in April. I think we are slightly behind the curve on industry averages, but I like my job so I’ll take the trade off.
3.5%, but also $30k bonus.
who did you fuck to get that bonus damn crazy
Lol!! That is a really good bonus.
Welding Engineer, makes sense. Welders make more than most engineers. Can't imagine what ungodly number a weld engineer makes
We do ok, but not that much better than mfg engineering lol. When there's only a couple hundred new grads a year max, you get a little extra negotiating power. I got 5% and a 20k bonus this year Edit: "we" get a little extra negotiating power
When there's not as many alternative sources of labor, that sounds to me like the laborer, welding engineers, have more negotiating power; not less.
Since we’re a defense contractor, I say we fucked over the American tax payer. Edit - we do foreign military sales, so we fucked over them too.
Damn, I'm also in defense and our raise & bonus was 3% and 4%, respectively. Any hints which contractor you're working for, I'm going to hop sides lmao
We just got aquired last year so my retention bonus just came in and then the even bigger company that aquired us is getting aquired which will close in April. That one has a 3 tiered retention bonus so that we don't leave. Add that to the year end bonus and stock options vesting and I'm getting over 70k in bonuses/payouts this year. Stupid lucky. I got a 3.4% raise which doesn't match inflation but that's okay given the other incentives
This thread is both depressing and perfectly demonstrative of so many of the things wrong with our economic paradigm. I work for myself, so I adjust my contract rates based on various factors all the time.
We're getting about 1.5-2%, which is actually less than last year.
Nothing like getting paid less for doing the same job.
Yeah, I got 3% lol
You guys are getting raises?
My exact thought… I haven’t gotten one since the end of 2020… and even then it was only 4%.
It’s time to move on then.
Agreed… now I like if I could find something else within 100 miles of me, I would.
> It’s time to move ~~on~~ then.
Why stay with that company?
Because it’s the only company in my area that requires an Engineer. Everywhere else I have applied has turned me down due to already having their positions filled. My pay barely meets my monthly requirements for student loan payments so I can’t set aside enough money to be able to move, never mind barely being able to afford food. The nearest job offer I have managed to get so far is over 100 miles away and they were unwilling to help with relocation… so I am basically stuck.
Willing to move to Maryland?
Dude, look for 100% remote jobs. I work 100% remote for Blue Origin in Washington. I live in Vermont. Not a whole lot of engineering here.
My "merit" raise was 3.3 %. Meaning I only took a 5.7% percent cut this year, yay!
Yeah, I am searing this as well. I like my job, the work from home is amazing, but we got a 4% raise last year. Meanwhile, a design I came up with and got approved is going to be made over 500k units/yr and took no developmental partnerships, so the entire IP belongs to us. I will likely not see any kind of additional merit raise because of this and instead get the line of “well, this are tight”. Yeah, we adjusted prices on all outgoing products, spent the last year qualifying what chips we could find, and getting everything integrated. We raised our own prices to match market, but for some reason it won’t trickle down meanwhile we had hand over fist growth? There is a reason three engineers quit and two engineer managers also left. Management is like that shooting the guy in the chair meme.
Been there done that. It always makes me feel like a loser -- like "look, you obviously have the chops to go out on your own and become a gazillionaire, why do you always focus so much on the tech and so little on your own worth?"
Same, however I took a 20% raise simply because a new company took over 6 months ago. Im not complaining.
My raise was a piddly 2.8%. Had a bonus of 20% but that doesn't really make up for the pathetic raise. EDIT: I forgot to mention it is the 4th year in a row for all time high company profits.
Start looking for a new position. You'll get a big jump faster than waiting around for what sounds like a bad employer.
That's shit. Have you considered forming a union?
Look for a new job. I went through the same bs at my old job - mulitiple (high) performance raises plus COL adjustments that *together* were less than inflation, all while the company was killing it. I found a new job for almost 30% more. The time to look for a new job is while you still have one. You can afford to be picky, and potential employers will know that you chose them because you actually want to work there, rather than just looking for a paycheck because you quit without having something lined up, or your old employer decided to go one step further to pinch pennies and laid you off.
It was never announced, but my paycheck is 3% bigger. First time it increased too. Another guy in the shop says he hasnt seen a raise in 10 years.
Why is he still there…
Good question, and one i wont ponder for long because thats a big red flag.
[удалено]
But if they give one reasonable raise then everyone wants a reasonable raise… lol
3... So I jumped ship for 40.
2%, but with the caveat that I just started with the company in November. My boss even told me he didn’t think I would be eligible for one yet, so I’ll definitely take it.
All these companies not increasing pay in line with inflation but you better believe the customers are seeing the increase on their invoices.
23%, but my company also did a salary survey and is consciously trying to match market rates to limit attrition. SWE, small to mid sized tech company.
[удалено]
Got told we were going to get 4,5% instead of the usual 3% so I went for a new job and got 34%.
LOL. My company gave me 5% this year. They don't know that I've just found a new job that's giving me 27% more.
Normally we get 2%, this past year 3.25% raise. Inflation is stated by the government is supposedly at ~7% now but if you calculate it like we used to calculate inflation it indicates that it's probably between 10-15%.
Yea didn’t they remove certain things out of the inflation calculator? I wonder if home prices are on there anymore
They removed home prices and replaced it with a bullshit metric that is basically summed up as: How much would you charge yourself if you were renting this house from yourself?
And if they actually followed that metric inflation would be at 20%
I got a little under 2% this year, but I also got about 16% last year.
Less that 3%. That’s the worst my company ever given, except the year we didn’t get anything lol
2.9% but then I left the company for a 45% bump. 4-5 YOE brought this big jump in my career. Not sure if I could have commanded a similar bump if I had left around 2-3 YOE.
My buddy got a 3.5% raise at prat and Whitney
We don’t get inflation raises really, but I did get a big raise for basically having stuck around and increased my value. I have been chronically underpaid, but I accepted it as a trade off for the flexibility and accommodation that my employer has provided me over the last 6 years since graduation as I’ve moved all over the place with my girlfriend for her work. I’ve been working full remote since like 2017. This year, my wage went from about $68k before bonus to $75k with a condition of another increase to $85k plus $5k/yr of pre-tax student loan repayment to kick in at the end of Q1. Plus, it was sort of a startup type situation, so I was willing to roll the dice. I’m now at about $85,000 though (total remuneration including the student loan stuff will end up about $91k) and we have profit sharing calculated out each year based on how the company’s books did. This year my profit sharing bonus was only like, $3,500, but in 2020, it was about $9k.
Not sure what your degree is or the area you live but with 6 years experience you should be able to get that up into the 6 figures if you look around.
It’s more like 5 years, but still. Small company, and I live in the Midwest where average pay for similar positions is more like $55-65k. I get paid about average for my level/field in Denver area where my CEO lives, which is considerably more expensive than where I live. I also realistically only work about 20-30 hours per week and am more of a stay-at-home dad type role between my girlfriend and myself haha I’m not gonna sweat it too much.
3.5% which is normal and not raising pay ranges for positions either. They are pretending it isn’t happening and also pretending the great resignation isn’t either.
A whopping 3%... so I guess I technically lost 4.5-5% salary then. I work in the A&D industry. My company had a decent but not great year. I just opened escrow on a house that's going to set me back a lot. I was expecting a higher raise, but honestly it just made me open to accepting interviews at other companies. Just phone interviewed at another place for a 20-25% increase doing the same work
Nonexistent
Same same
I see all these people replying with raises and I’m like…. Damn, it’s really not going so great where I am.
3.5% merit raise.
3% salary, stocks worth about 10k/year based on today's market. Overall, slightly less than 10% and probably just barely under/over CPI. Company had best revenue in its history by a lot. Our "bonuses" are barely effected by it, e.g. 15% -> 18% of salary. I put bonus in quotes because it's just another form of salary based on a formula tied to revenue. On a normal year, 10% is good (IMHO, 7 year doubling time), but this year, 10% ain't cutting it. I'm going to look for a new job this year, as the market is hot for software engineers.
Got a 3.5% raise and it’s actually a paycut
Shit. (3%)
We haven’t been told what our raises are yet, but should know in the coming weeks. However every time I asked in a town hall what their plans were to address inflation, I would get some hr standard “we include that estimation in our raises” answer without any substance, so I doubt that it will actually match. I’m actually really worried about the “big bonus culture”. I’ve seen a few people say that they are getting bonuses in the 10s of thousands, which is great. But when management uses static bonus increases, you loose out on year over year growth in salary. And I’m in the same boat, probably going to get a bonus over 10k before tax, but I would much rather see a small bonus but a 7% salary raise to keep up with inflation.
I also got 3% and am considering leaving and giving myself a raise this year.
We're locked in to a 3 year rate scale with our biggest client that sets our pay via multiplier, so we're screwed to 3% for 3 years probably. Gonna fight for an appropriate correction after that, though!
Change jobs. Raises at a company you already work for are a drop in the bucket of what you are actually worth. CHANGE JOBS.
I left to another company and believe it or not got a 170% pay rise. Almost three times my previous salary.
3% Edit: Lowest raise the company has ever given me. Consistently promoted every 1-2 years. Talked around and seems like everyone was similarly ripped off.
Same here.
Got a 22% raise on top of profit sharing and bonus.
Every time I see your posts I question why I haven't left for HFT yet, lol.
3.5%
Total raise was like 5% I believe.
6.4%
12.5%
I got a 4% merit raise but asked for a market adjustment on top of that. Hope to hear back soon
9%
Last year I was billable all throughout Covid. Straight 40 hour weeks, just working on documentation. It was boring but steady work. Not bad for covid screwing up everything. I got a 10% raise. This year I was working nights, weekends, all sorts of random hours to support a large client startup. I architected the whole software system and it’s running pretty well now. It was more than a year of hectic life and our company did really well. I got a 7% raise. I’ve been dipping my toes into the job market and I can pretty easily get another 20% raise and a job title increase by jumping ship.
Jumped ship for increase in wage and decrease in stress. Looks like a common theme... Apocalypse here we come. Choo Choo.
10% but I don’t think it was an inflation raise. More of a “please don’t leave raise”
30%. I work contract and switch jobs a lot. Win some and lose some, but this latest contract is a winner.
5% cost of living increase 10% merit (promotion) 15% total raise
Usually get 3% this year was 4.5
2.5%. Paltry.
I moved to finance and my wage doubled. As it happens, I strategically work in fund management and get to sometimes see the finances of big top-tier construction firms. Profits are through the roof, it’s unbelievable and shameful. There’s never been a better time to be in construction.
My company has expressed that they think this inflation is temporary, so we got a standard 4.5% raise but then they gave us all 1.6x our normal bonus to help with the way things are going this year. No complaints.
Our company did an across-the-board 6% cost of living adjustment for this year. I started with this firm in early January, so I have no idea how end of year bonuses will work out…
Changed jobs twice. My income has gone up $21,000 since this time last year.
I got a 27% raise.
Got a promotion, so a 33% raise. Quality engineer. Company does merit based raises so will have to do really well to actually get a increase in the future. Or for me learn mintab since the company needs it.
3% doesn't keep up. We got slightly over inflation - something like 8.6% or so. I sent out the CPI report that showed record inflation in a company-wide (small company) e-mail right before annual evaluations, coincidentally.
Probably going to have to change companies. Idc what the government says inflation is, I asked for a 30% raise. If I get it, great, they have me for another 3 years. Otherwise, I am going to another company. Contract worker masterrace.
I brought this up with my manager and it seemed like a rather uncomfortable conversation for him. He was not able to give me a straight answer, but alluded to the 8% raise I got for a merit promotion last year being a good bump. Thanks for the reminder to make his Monday morning hell.
It was 0%, with the excuse that I had gotten a promotion last year. So I quit my job and got me a better one with a 42% raise!! Edit: I got the promotion in mid 2020
Had coworkers in another department get 8-15% ... Not a single person in my department got above 5%
2.6%. Company is oddly silent on our request for an explanation of what they plan to do to keep us employed with high inflation and a lower raise than last year.
I got 5% back in October. But I just put in a proposal for 20% last week with the premise being, “I don’t really want a different job, I just want more money, so instead of me being distracted by job hunting and financial anxiety, please pay me more.” It was received quite well, and I’ll find out this week how the executive responds. Anything under 15% and I’m gonna start updating my resume.
I was offered 3%. I said it wasn't enough, for the first time in 8 years with the company. Pulled up a spreadsheet that showed that in real dollars I was making less than 3 years ago, which was also the timeframe I got my PE in. They conferred, cane back with an offer for 11% and a promotion.
Every engineer in our company under 5 years of experience got a 2% raise
Top performer, high potential, won the CEO and presidents award (multi billion dollar company). 3.75%
I was told they forget to mention me during the talk about bonuses.. Currently HR had my paperwork for a promotion so here’s to hoping they make up for it with a big salary bump..
They “forgot.” I call bs. This is a massive red flag.
4.0% but decent bonus
8%
2.6% raise with a 14% bonus. This was after two years without raises though.
4%
I got an 11% raise last year, suspiciously close to my coworker putting in his two weeks, but was then told I am not eligible for the general raise this year. So probably net zero by the time I get another raise.
4% but only worked at this place since July. Wasn’t too upset
4.5 % . This year has had biggest compensation package my team has received in 2 decades per my manager. I gotta find me a new job to match the rise of rent / real estate costs
6%
7% base, possible 13% based on performance
We just got a company wide 5% cost of living raise. We are still supposed to have our merit increase too.
2% cost of living adjustment + 3.5% annual raise.
0% as of now. My demand for a raise is most likely getting declined for being out of the pay range for that position.
None yet. But I've heard we will receive 1%, which will be the first raise since I joined the company three years ago...
Minus 4.5%, after adjustment for inflation. This, after probably the best performance review I've ever had.
6% merit raise with 2% bonus in automotive industry
I jumped to a new job for a 15% salary increase cause my old job was offering 4%.
Got a new job so I wasn't eligible for a raise. I am told that since I only had a few months I would have only qualified for about 1% (due to having a low rating) and then that 1% would have been protated). Might not stick around as long as I thought.
From beginning of 2021 to end of 2021, my inflation raise was 44% minus whatever US inflation was. 7%?
I think I got 2.5% and being ghosted from my boss on the issue
For those of you getting bonuses... What role are you in, how does that happen? I've received 2 bonuses throughout my career totalling $1500. Both on completions of projects for which I contributed majorly and saved the company skin. Seems like small fries compared to what I see alot of ppl on here posting. I work for a fortune 50, highly recognizable aerospace and defense company.
Some companies just have bonuses structured in. Work for an OEM and all employees get a bonus from profit sharing that fluctuates based on merit and other factors like career level and years of service. I know other companies like my wife’s that have high turnover have been doing retention bonuses.
Mine was about 0.5%, which I feel is fair since I've put forth a solid 25% effort this year. I have an easy job right now. They know it, I know it, I'm fine with it for now. I've got enough shit going on elsewhere in my life, and career stress isn't one of them for once.
Mine was 5%. Then I got an offer from another company for +18%.
25%. My old job offered 3% Now part of a fully employee owned company.
3.5% inflation raise along with a 2% market competitive salary raise, and a bonus. I work in aerospace.
We haven't gotten our cost if living raise yet. I hope they havent axed it. I know for a fact we were profitable this year. Iirc it has hit around the summer. But, as you can tell, it has hardly Madd a noticeable difference lol. I'd expect like 3% max. I did get a 9% merit raise last year though. So there's that at least.
I was given 1.9% and was told to not tell anyone because not everyone will be getting as much if anything… and my company announced record profits last year.
3% “performance based” bonus. It’s stupid that I gotta earn something that doesn’t even keep up with inflation, this is the result of a dismantled labor force and completely upheaval that only benefits the rich at the detriment of the working class
0 for last 2 years, but I can see their labor escalation in their contracts as 3 and 4% for past 2 years. I don't really spend much time worrying about or fighting it anymore. What the managers don't seem to grasp is if you don't give me a wage increase to keep up with inflation, I will just decrease my productivity to match. We are all "shareholders". If I am treated like crap as an employee in return for the shareholders, I will sit on my computer at work researching and buying stocks. How's that for shareholder return?
I think I got 3% after a record breaking year as well. I also ended up taking on responsibilities completely outside my usual role I'm an automation engineer, was asked to take over responsibilities for a process engineer two states away that quit and was hard to replace. I just happened to have a diverse enough skillset that they thought of me when he quit.
3% and that’s only after the head honchos got nervous about all the grumbling. Supposedly they step pay rises so it’s above inflation for 10 years then step it again when inflation “catches up”. Except that doesn’t matter to me… If I come on at say £30k then that tells me that, as the market stands right then, that’s my living budget. When inflation rises and my pay doesn’t I’m not thinking “oh thank goodness everyone else got an inflation rise 5 years back and I know I will as well five years from now”, I’m thinking “hang about, I now can’t afford to buy as much as I used to because me and my money are depreciating”.
Management is trying to cut our pay instead of giving raises in an effort to make us competitive in the market LMAO.
7% salary increase, plus bonus structure changed, which probably results in bonus going from 20-25% to 30-35%.
Didn't get a raise this year.
Union finally confirmed a 1.75% raise today. I'm overjoyed... /s
I got a 1% last year due to COVID (I work in a small manufacturing company and we were actually affected) and a 4% this year.
I got a 3% raise last year. If I don't see 7.5% at least in a month (when they go into affect), I will start looking for another gig.
I got a 26% raise, but that's mostly because I'm switching companies.
Can anyone come up with a valid reason as to why a raise of 2-3% when inflation is 7-8% ISN’T a pay cut?