Raises? 1

[TDAA]

So, just a quick poll, How mny got raises this year, in this economic climate?

My company is not doing any raises for anyone, including me, of course? This goes for the people working for me.

Some are hapy to just have a job at this point, others want to see an increase that the profit (loss) does not seem to be able to support.

So, how about you?

 

[Trackfiend]

8.2% raise this year and an 8.5% raise last year. No bonus yet this year. I received a 1k bonus last year and a nice end of the year deposit in my company mutual.

I hear the typical raise around hear is 6% to 10%.

 

[mechengdude]

5.5% raise with cash and stock bonus of about 4% of base salary.

 

[Umassengr]

5% Mid-year; 4% End of year + $5K
The Mid year was for taking on addtional workload of a co-worker who left and was not replaced.

 

[ivymike]

Steve, for the record, I think they're probably right about bonuses being demotivational. People start to figure them into their lives, then get really steamed if they don't turn up. ...a bit like the dog who won't sit or lie down unless he can see the treat in your hand.

 

[SomptingGuy]

Isaac, I agree that bad ones are. Like ours became. In my original interview (quite a while ago) I was told that the bonus was 12.5% of pre-tax profits paid pro-rata to all employees based on salary during the previous year. Nice and open, very good for morale and staff retention.

I guess you probably worked for the company during its "bonus lottery" period.

- Steve

 

[ivymike]

that sounds about right... but I missed the big payout(s) due to my hire date.

 

[Ztrain1985]

4%, and a $750 bonus.

I thought I had it good until I heard some of you guys and your Bonuses/Raises

 

[cvg]

raises and bonuses are related to a number of issues and straight comparison is not all that useful

- company profit / loss in the last year is a key factor
- expected profit / loss in the coming year
- company liquidity, ie: is it a closely held company with lots of cash, publicly owned and do the officers have control of the stock?
- your level of experience
- your past performance
- your current income level as compared to your peers
- your level of responsability
- greediness of your bosses
- others?

 

[HgTX]

Raise only because it is mandatory with a promotion, which I got because they finally made my job title match the job I've been doing for the last 3 years.

Hg

Eng-Tips policies: faq731-376

 

[Pipeline1972]

Just had my evaluation a few weeks ago. I asked about salary review, but they were vague about it. Mumbling something about HR's decision, how our industry (semicon) is doing.. and blah blah blah.
Interesting, cos all the research i did shows that my pay is below average. Let's see what they'll say next..
Also, i noticed that everyone in our department got a lower score, compared to last year's evaluation.. Now they have a good reason to to raise us!
I started last year in Feb, and haven't see a single cent of raise yet... :-(

Process - Piping

 

[macmet]

Our company had a rough 2007. A very rough 2007. So, no raise for me. I did manage to get an extra week paid vacation which I took advantage of though.

Of course that extra week vacation probably cost me a couple grand, but at least I wasn't in the office.

 

[IRstuff]

No raise yet, but a pretty respectable bonus

TTFN

FAQ731-376

 

[30osk]

I got 6% plus a 1.5% bonus last November from a company that did evaluations on the employee's anniversary. The company was bought by a larger company that reviews everyone in May. I expected to get a prorated raise, but I was stunned to get 7%. Still waiting for HR to reduce that and demand repayment of the excess. Bonuses are things of the past.

 

[B16A2]

17% + $6000 bonus for the year

 

[SomptingGuy]

I was told 3.6% today.


- Steve

 

[PEinVA]

7.5% and bonuses are done at the end of the year but last year got almost 4K

(only 2 years in, woooooh)

RC
All that is necessary for the triumph of evil is that good men do nothing.
Edmund Burke

 

[jistre]

Hmm. 9% and no direct bonus, though the company did dump about two paychecks profit sharing into my 401k plan, so that was pretty sweet. On the other hand, I work for an EPC heavily into petrochem work, so my raises and profit sharing pretty much move with the price of oil. Oil expensive = billion dollar projects. Oil cheap = pink slip.

I probably should figure out at what price oil/gas would have to be to maximize my profit.

 

[texanman]

No Raise at my company- MEP consulting firm in north Texas. They tell us thing are bad.
I would like to know which part of the country they are giving raises?

regards,

 

[ivymike]

houston

 

[Lion06]

If I weren't getting any raise at alll I would be out the door so quick it wouldn't be funny......... no matter how much I loved the job.
I'm outside of Philadelphia.