salary increase

[Bimmerbill]

am moving up the ladder with another step increase this year, so my own actual total increase is 6.21%.

Lucky you! I am now in the NSPS pay system, so no more step increases. This years COLA\local market supplement was 3.8% or so.

I'll have 14+ months until NSPS payout next year, since I converted 28OCT (2 months is too short a time to have an appraisal).

 

[Andre1969]

I'm a gov't contractor, and we get our raises in the middle of the year, rather than the beginning. Back in July '07 I got something like 6.7%, which almost put me into a state of shock! I think the average was more like 2-4%. However, we had some drama here at work, where some of my cow-irkers tried to get me in trouble, our immediate supervisor took their side, and I think upper management threw that bigger raise at me to keep me from walking.

 

[Milton]

I just got a 3.2% increase in my salary from 2007, which I am kinda disappointed considering the increase in cost of transportation and utility.

Well, if it helps, you got more than me. In November we were told that things were tight and there would be no raises or bonuses for the forseeable future. In years past, I've enjoyed annual raises ranging from 5% to 10%.

I am pleased to report that over the past 12 months, my various companies raised their annual dividends significantly. I didn't bother to work out the average increase, but IIRC they were all in the 10-15% range. Better to be an owner than an employee, I guess.

 

[FIREd]

Pharma here... 7% raise in 2006, 7% raise in 2007, don't know yet for this year, but smaller raise expected. The annual bonus has also been slashed this year after three generous years (10, 12 and 13.5% of gross).

 

[gettingthere]

2.5% last year - raises don't come out at my Mega-corp until March or April. I will consider myself lucky to survive the next round of layoffs, a raise would be an added bonus. In past years raises ranged from 2.0 up to 11%.

 

[earlyguy07]

Oil & Gas, 8.5% raise this year. 5/5 on my yearly performance review.

 

[Maurice]

8% raise in my base, 6.6% increase in my bonus.

My bonus this year was almost exactly two times my base salary.

I work for an investment bank, doing IT for the derivatives trading business.


edited to add: I was pretty lucky to be up from last year, our bank's pool was down somewhat from last year. We are not one of the banks really hit by the subprime mess, though.

 

[Milton]

5/5 on my yearly performance review.

Stop working so hard!

 

[Caoineag]

11% last year and 10% this year. But I am also in the beginning of my field (paralegal) so I haven't topped out yet. Once I do, I really won't expect many raises if any. My DH is in the mortgage industry and he tops out on raises at 3% but that doesn't include climbing the ladder which will have his increases make mine look pathetic.

 

[billman]

20-30% Bonus of total salary,

12-20% salary increae due to inflation in UAE, which is running at around 9% annually.

 

[Kate16]

I got 19% but I only started just over two years ago in an entry position for new university grads so the increases are higher initially. I'm in accounting. I figure 10-14% next year and then it will level off a bit.

Kate

 

[Meadbh]

Recently got a 5 figure retention bonus.

 

[trying2save]

8% raise in my base, 6.6% increase in my bonus.

My bonus this year was almost exactly two times my base salary.

I work for an investment bank, doing IT for the derivatives trading business.


edited to add: I was pretty lucky to be up from last year, our bank's pool was down somewhat from last year. We are not one of the banks really hit by the subprime mess, though.

Do you work for Goldman Sach?

 

[Maurice]

Do you work for Goldman Sach?

No, a different one - I can PM you if you're interested. (and Goldman's pool was UP this year, the bastards )

 

[trying2save]

No, a different one - I can PM you if you're interested. (and Goldman's pool was UP this year, the bastards )

I only said Goldman Sach because it was the only wall street firm that didn't get hit by the subprime mortgage and of course the huge bonus(your bonus=huge)they give to their employees.

 

[Rambler]

Got a good one in '06, plus a good incentive plan, none for 07 and 08...and the incentive plan is not so good anymore...it is tied to company stock.

 

[Pavo]

18.2% in 2007.
16.8% in 2006.

I work in finance - we'll see what happens this year though. That level can't be sustained for too many years. I think I've never worked less than 60 hours/week in both of those years.

 

[GatorBuzz]

I think I've never worked less than 60 hours/week in both of those years.

This variable is interesting to track. It would insightful to see how many hours people worked and how that correlated to their increase, if at all.

 

[vinnieg24]

wife is getting a 3% increase in a couple months, healthcare industry

 

[laurinsane]

Scientist

My first year as a histologist I got a 4% raise in my first 6 months based on performance. I then took another job making 2 1/2 times the money in the same field. So far I have not gotten a raise as I haven't even been here a year, but what I've heard from people is that raises here (Pharmaeutical company) are based on performance and that bouses can be given as well. I don't know how that's going to pan out over the next few years with all the cuts going on in Big Biopharma companies. I guess we'll see. But I make enough and save enough that I'm happy.

 

[BunsGettingFirm]

I just got a 3.2% increase in my salary from 2007, which I am kinda disappointed considering the increase in cost of transportation and utility.
I would like to know what was your increase and what industry are you employed in. I work in the financial industry.
Thanks,

I'm surprised by the small raises that tech people are getting. Meanwhile, all I read in Mass High Tech is about how there aren't enough qualified engineers because all the boomers are retiring. Then I look at the byline, and it's usually some comp. sci. professor or another looking out for his own job security.

 

[quietman]

Tech people are still under huge pressure from outsourcing. Folks may say they dislike dealing with foreign techncial help, but companies are eager to "reduce costs" by replacing workers with foreign contractors - either H1B here or truely foreign outsourcing there. The "shortage" of workers could be fixed with market compensation but is used instead by company lobbyists to make sure H1B's are expanded and legislation permits firing domestic staff to pursue foreign outsourcing.

Aside: Few are aware that foreign shops that get outsourcing contracts often offer working conditions and hours that would not be tolerated by American workers (or in many cases would be illegal). For example, typical Indian high tech programmers work at tightly packed desks - not even cubicles - in rows in a huge open room for 12 hour shifts daily.

 

[accountingsucks]

7.6% increase for me and I'm an accountant in Western Canada.

 

[Marquette]

I'm surprised by the small raises that tech people are getting.

Add our company to the list of companies outsourcing to India. Interestingly, two other companies are tired of outsourcing and are insourcing.

Personally, I have no ill will to outsourcers, but I think a lot of companies tend to do it to 'cut costs and go faster'. I think they tend ignore the fact that having people on-site that understand your business and issues lets you go faster than someone working halfway around the world. Just because you can afford four of them for the price of one local programmer doesn't mean that you can go four times faster.

This variable is interesting to track. It would insightful to see how many hours people worked and how that correlated to their increase, if at all.

I'm not sure it does, directly. However, if you're good at your job and don't watch it, you end up being the go-to person and, as a result, find yourself working way too much.

I've gotten fairly decent raises consistently throughout the years (I think I've hit the ceiling in my current role, though). However, I did take a 25% pay cut to get out of a company and position where I was tired of working 80-110 hours a week.

 

[lets-retire]

Aside: Few are aware that foreign shops that get outsourcing contracts often offer working conditions and hours that would not be tolerated by American workers (or in many cases would be illegal). For example, typical Indian high tech programmers work at tightly packed desks - not even cubicles - in rows in a huge open room for 12 hour shifts daily.

Very off topic: We had a gas station in my little burg. Three years ago I was talking with the clerks behind the counter, who always seemed to be there. I found out they were from India and they were in fact always at work. They were saying the were paid a salary of 30k per year, but worked 12 hour days six days per week. They didn't like the long hours, but were quick to add that the job was better than they could get in India. They both were unskilled and didn't graduate high school. My point is if these people were willing to put up the the horrible working conditions here, how bad it must be over there.




The typical pay raise for the company I work at is 3%. The average must work out to 3% across the team/district/business unit/company. So if I get the average I can treat the family to a moderate dinner out once per pay period and if we don't order an appetizer or desert, my pay raise might cover it. It is still better than one my wife received a few years back. The short back story: She went back to work at a company and they messed up her benefits. The boss told her to stick with it and he would compensate her with a good bump in a year (that was the earliest he could change her pay). She stuck with it. A year later she received IIRC something like a 5% bump. Three months later they had the annual performance reviews/pay raises. I don't recall what percentage she received but the dollar amount was only $2.68 per year. Of course she complained to her boss who of course put the blame on HR. He contacted HR and requested they send he a letter of explanation, and they did. The reason she could not have the average performance raise was because she just received a raise a few months earlier.