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

 

[COEngineeer]

I will start.
I got R = .0455 w/ 3 years of experience.

http://www.krmconsultants.com

 

[jgailla]

R=0.110 with almost three years experience.
I'm in land development in Florida.

 

[TStaples]

.0823 or 8.23%

I've never calulated that before. Interesting. I guess I've been fortunate to work where merit counts in the salary review process.

-Tony Staples

http://www.tscombustion.com

 

[COEngineeer]

Although I must say higher R doesnt mean it is better. It can also mean you received below average starting salary. But anyway, it is still fun to see what the average R is considering how often we get a new thread about expected raise on this forum.

http://www.krmconsultants.com

 

[IceNine]

.0726, 5 years w/ 10% raise after receiving PE this past fall

 

[KENAT]

Before I give the figures, I had a break of over a year outside of engineering back in 04/05 and for about 9 months before that was effectively part time freelance contractor. So I kind of lost about 2 years in total.

Also my first job was in the UK in an area with average cost of living, while I’m now in the US working in an area with very high cost of living. I used an exchange factor of 1.9 in converting pay in UK to dollars, not sure this is really accurate. My first jobs starting salary was competitive.

If I deduct the approximately 2 years from Y I get R = 13.6

If I include the 2 year in Y I get R = 10.2

Having compared this with what other people got:

A. I’m concerned I’ll get lynched if we all got together.;-)

B. I’m questioning any advice I’ve ever given regarding expected salary as I’m well off the curve.

 

[KENAT]

Sorry should be

13.6% (.136) & 10.2% (.102), I'm not sure even Bill Gates got what I'd put above;-)

 

[COEngineeer]

Thats it! I am going to my boss office now asking a raise. Ill print out your calc. kenat

http://www.krmconsultants.com

 

[IRstuff]

4.5% per year; it's been that for a while.

TTFN

Eng-Tips Policies FAQ731-376

 

[MadMango]

R=.0588 over 10yrs. I guess it could have been worse.

"Art without engineering is dreaming; Engineering without art is calculating."

Have you read faq731-376 to make the best use of Eng-Tips Forums?

 

[sms]

0.08635 or 8.64% on 23 years...

-The future's so bright I gotta wear shades!
Please see FAQ731-376 for tips on how to make the best use of the Eng-Tips Forums.

 

[DaveVikingPE]

6.27%, 14 years.

 

[Latexman]

6.3% and 28 years.

Good luck,
Latexman

 

[andrewe77]

R=0.0577 with 5 yrs. experience

 

[655321]

R=0.128 with 5 yrs. experience.

 

[corus]

6.4% over 26 years. That's as far back as I can remember. Now I'm depressed.

corus

 

[ScottyUK]

Using the depressingly low salary from the sweat-shop start-up outfit I worked at for a few months immediately after graduating I get a result of 14.3%.

Using the salary from my first engineering job being paid at something resembling market rate I get a result of 8.94% over 13 years. Not too bad.


----------------------------------

Sometimes I only open my mouth to swap feet...

 

[corus]

Putting aside the depression for one minute, the figures themselves are only meaningful if they refer to real earnings growth, ie above or below the increase in the cost of living, or thr RPI as it's called in the UK. I don't know if this varies significantly from country to country but from

http://archive.treasury.gov.uk/budget/1997/report/chap3c.htm

the figure over the past 20 years has been about 4% in the UK. In my case of a 6% rise in earnings then this relates to an annual 2% growth in earnings over that period, approximately. As an investment it's a poor return. Back to the depression.

corus

 

[bridgebuster]

0.0764 over 28 years