Salary raise survey 2

[COEngineeer]

Ok, I dont want know how much you make. I just want to see the average raise per year (even if you move to different companies). Please do this calculation for me and give me your answer

CS = Current salary or hourly rate
SS= Starting salary or hourly rate (after you just graduated)
Y= Years since graduation
R = % raise per year assuming you get the same % per year

If you own a company then only put the data only when you still work for a company.


R = [(CS/SS)^(1/y)]-1

Could you post your R on this forum

http://www.krmconsultants.com

 

[controlnovice]

So far the average above is 0.0863

I removed the 0.25 (WOW) and the .005 for someone with only 6 months.

______________________________________________________________________________
This is normally the space where people post something insightful.

 

[UcfSE]

R=0.165 y=5 years

 

[FOETS]

0.1915 (19.5%)- 19 years
lots of international moves - expat contracting.
Forex rate differences skew the number.

FOETS
Social Drinker with a Golfing Problem

 

[MissouriPE]

Interesting reading, but I do think there are a lot of variables. Willingness to move has been brought up and I know I make less living where I do and less options for employment. I do know that I made the least at the job I learned about the most at. Choice I made. Left that job a few months after getting PE and took $6k raise, left that job 5 mo later (hated it) for another $6k raise and again in two years for anothr $4k raise. If you take a snapshot of that 2.5 years, it skews reality a bit. But in 12 years I have more than doubled my income. Not too bad. LOL am changing jobs again, but this is a pretty lateral move salary-wise. R=0.0646

 

[swertel]

Just because this thread isn't long enough
R=1.05

9 years since graduated
started out with a really low salary
two job moves making at least 10% more with each change
2 grade level promotions accounting for 8-9% those years in addition to merit raise of 4.5-5%.

I'm now at the industry average!

--Scott

http://wertel.eng.pro

 

[PMR06]

swertel, do you mean R=0.105? If not, are you guys hiring?!

 

[swertel]

I have a CS/SS ratio of 1.5288 with 9 years experience, roughly.

Like I said, it wasn't just the one job, it was that my SS was REALLY low which I accepted just to have a job out of school unlike my peers. In those 9 years, I've held 4 positions in 3 companies and got a 8-10% increase for each position. Plus, starting out at Engineer I and now being an Engineer III, although I should be an Engineer IV, also helped because of the "promotion" raise for each grade level and added responsibilities.

--Scott

http://wertel.eng.pro

 

[KENAT]

Swertel, using the formula 1.05 would be 105% each year.

I'm with PMR06 are you hiring?

 

[whyun]

I don't think anyone mentioned inflation. The "effective" increase should be your R minus the average inflation between SS and CS.

 

[Senselessticker]

Besides inflation and relocation...it get's worse....what sbout rising cost of health insurance premuims, 401k options, and periods of unemployment, and there's probably even a few remaining who have pensions to consider..

 

[WGJ]

.079 compounded over 30 years, two promotions, about 12 different jobs, same company.

Last year was UK inflation + 0.5%, I think.

Bill

 

[VirtualWorker]

3.86% over 5 years since completing a master's. I took a big pay cut moving from construction to design and have crept back up.

 

[swertel]

As a matter of fact, this company may be hiring since I may be moving on and a position may be opening up. Most likely, though, they'll just deligate my duties to the other overworked engineers and pat eachother on the back for decreasing expenses and making the profits look better.

And by the way, I forget to subtract 1 each time I performed the calculation. So it the correct answer is really .0483.

Sorry to get all your hopes up.

Like I said, even if I didn't mess up the calc before, I'm just now at the industry average. You sure you want this job?

--Scott

http://wertel.eng.pro

 

[271828]

I found the thread late. Mine depends on whether you count bonuses.

If not, then R = 0.0671

If so, then R = 0.103

9 years, 3 companies

 

[COEngineeer]

grrr... im still waiting for my PE result.. I think I passed but my R is really low, hoping to have a good jump after the news.

 

[GRoStruc]

R=0.136, 4 years in.

1 company, started low and up to speed with industry now.

 

[TDAA]

Interesting.
From a percent standpoint I don’t feel too bad now:
8.9% for 11 yrs – 9.3% if you count the bonus that has been pretty steady.
I think this was with low starting pay, up to about average current.

As a side note, with the recent debate of the minimum wage here in the US, a lot of people brought up the Congressional raises over the last 10 years. From data that I found: Ave Salary: $168,500 and 9 raises over 10 years totaling $31600. That number calcs out to 2.09% per year .

Definitely illustrates the starting pay aspect.

 

[Lion06]

TDAA-
that is a low number, percentage wise, but I believe that they receive that salary for the rest of their life once they leave Congress!!!

 

[Pud]

.201 - 41 years.

But...

30 GBP/week in the late 1960's and early 70's was a "good" salary!

I do not feel any more wealthy! (Thanks Mr G Brown!)


Cheers

Harry

 

[Beggar]

R=.0863 and N=17

Of course, I'm presently out of work with no immediate prospects so fat lot of good it does me now...

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