My company is giving 2 pay increases this year to junior staff. In our normal cycle we gave an average 3.5% (which was considered “high”) to the total workforce. Now we’re going back and giving a second increase mid year to our people below management level.
My company is also giving mid year bumps to lots of employees who are typically on an annual comp cycle. Some are pretty significant.
My company did a range of 3-6% based on your salary level. Higher the salary the lower the raise. I didn’t really care since I just got a promotion. Seems logical I guess? Inflation hurts the lower incomes the most.
My company gave out annual raises this month. I’ve worked here for seven years and the base rate has ranged from 1.5-2.3%. This year the company wide base rate was 6%. Under inflation but better than I expected.
Of course the union at our plant managed to lock in a 3 year contract last October at an annual increase of…2%. My boss at the time, a moron, was excited and proud he managed to do this. I’m like how the fuck are we going to get anyone to work here for that amount of pay. The non-union plants are all going to get the 6% this year.
What are they going to really do if they’re not “satisfied”? Leave? I assume a small handful might, I doubt that will be a common option.
“Small handful” is all relative. Employee turnover costs money. Even a relatively modest increase in turnover rates can have expensive impacts on companies. And because 21st century corporate management got obsessed with the benefits of “just in time” delivery, unplanned turnover can actually kill a business now because companies might start losing clients and sales.
You know where spidercrab works, right?
Nope. I’m thinking more generally about why companies are bumping pay for junior staff mid year, when that was practically unheard of in the past. Obviously every specific company is different.
Ah… my comment was specific to spidercrab’s employer and his specific job. For people who do what he does, there is no equivalent job to leave to unless he relocates to another city.
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I wonder if the university I work for will bump up the usual 3% raise this year.
lol my company finally did an all hands yesterday and suffice it to say im irritated enough I’ve all but stopped working
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Deets bruh
Is he the mayor of somewhere?
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He’s a college professor
I think that’s underselling it. If I’m not mistaken, he’s tenured and at a large university. Also sounds like he has pretty specific research interests.
The only place that will check those boxes is a similar institution, which doesn’t exist within a reasonable driving distance of his current one.
it was just a mess. We’ve had almost zero communication since the invasion from leadership, massive massive layoffs that I don’t even know how I survived. I’d never been in this kind of corporate purge before but everyone gets freaked out and finger pointy, and unfortunately this coincided with a massive project I had a critical piece of. Quite miserable.
anyway probably can’t talk to specifics but I had posed a question “anonymously” about our annual 3% merit increases and if that would be adjusted for the 10+% inflation we’re going to see this year. Ignored, but someone asked a question about merit increases to which the response was “you got merit increases in march already.”
then, about the layoffs and company stuff, complete lack of responsibility taken, the answer was to constantly blame external factors “beyond our control.”
then the real kicker for me was quite a shock when I found out a decent 5 figure chunk of stock I’d held and already vested is essentially worthless.
You work for TSLA?
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Twitter?
Yeah, this is the downside of being in academia. Outside of a small number of places, you can’t just change jobs without completely disrupting your life. Like, I had a pretty appealing offer earlier this year where I know I would have really liked working with the people, but it would have meant moving across the country.
If we get the standard 1-3% raises this year, the faculty will probably bitch and moan, but approximately zero of them will actually leave. If you’re talking about admin/staff who could more easily move to non-academic positions without changing geography, the threat is more real.