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

 

[fcsuper]

10.5% at 16 years

Matt
CAD Engineer/ECN Analyst
Silicon Valley, CA
sw.fcsuper.com
Co-moderator of Solidworks Yahoo! Group

 

[civilperson]

Pud(Mechanical),
You are either the highest paid engineer or there is a arithmetical blunder. Are you making 1117% of your original salary?

 

[Heckler]

R=0.096 w/11 years but that doesn't include the 10% bonus. The company treats the engineers well and we have really low turnover. I've taken the stance that compensation is only one factor in totally job satisfaction. Albeit, there was a time where I chased the $$$$$ before the dotcom bust and I was least happy during those times.



Heckler
Sr. Mechanical Engineer
SWx 2007 SP 3.0 & Pro/E 2001
XP Pro SP2.0 P4 3.6 GHz, 1GB RAM
NVIDIA Quadro FX 1400
o
_`\(,_
(_)/ (_)

(In reference to David Beckham) "He can't kick with his left foot, he can't tackle, he can't head the ball and he doesn't score many goals. Apart from that, he's all right." -- George Best

 

[CJCPE]

R = 0.064 after 27.5 years with the same company

Chose to retire rather than relocate and be integrated with an acquired business unit. Received total value of approximately 10.2 X final salary in lump sum retirement, continuing medical insurance and severance. Retirement included both my own and company contributions to company plan plus investment earnings on contributions.

The relocated operation was closed about three years after I left.

 

[Pud]

civilperswon:

Well spotted! Gotta stop posting after a night in the pub!!

Ignore that - correct figure should be:

.094 - I always new I was underpaid!!!



Cheers


Harry

 

[COEngineeer]

9.4% a year is awesome pud. Nothing to complain about.

 

[Pud]

COEngineer:

Is it? I must admit to being "comfortably well off", but that I guess is because I really left engineering around 12 years ago and started a manufacturing business. I enjoy actually making stuff!!

Rgds


Harry

 

[whyun]

From first job out of college to present: R = 0.125
From PE license to present: R = 0.095
From SE license to present: R = 0.063

General trend I see is that later on in one's career the percentage increase in salary levels off.

 

[NickE]

R= .111 Y=6

Although the R-value is quite good, my CS is still close to 25% below what the salary surveys say. And my SS was very low.

I've changed from a sweatshop to a global leader in the components we make, and got an R of .5 at that time, if I calc it for this employer only I get:

R=0.058 and Y=4

Hmmm and the COL increase last year in my area was ~4%. If I include the ~75% increase in fuel costs to get to work I probably make less money now.

 

[Lion06]

I have been waiting to be able to post this information.
R=0.83333 with Y=1.
Starting salary was slightly above average.

 

[civilperson]

StructuralEIT,
I would be proud of an 83% raise in one year's time also. Hope it happens consistently!

 

[Lion06]

damnit-
Sorry 0.08333 8.33%
I just had my review today, I was a little excited.

 

[PatBethea]

R = 0.083 after 10 years

Work for myself now, though.

 

[Timelord]

R = .06658
y = 35
I've had to work hard to avoid management positions and stay in a technical jobs.

Life is good!

Timelord

 

[andrewe77]

Wow...

After my last performance review it dropped to a 5.4% raise annually for the past 6 years with the same company.

Pretty depressing I'm almost the lowest in the entire thread.

Would you consider this underpaid?

 

[GregLocock]

For your first 6 years after graduating, maybe. For your 20-26th years, no.

Bear in mind that between when you are say 32 to 38 you probably don't change much in value to the company. At 32 you are a valubale project engineer. When you get to 40 (ish) you reach old fart status, and have a good chance of having seen it all before. At which point your value to the company rockets, at the same time as your personal interest diminishes somewhat, since fresh challenges are few and far between.



Cheers

Greg Locock

Please see FAQ731-376 for tips on how to make the best use of Eng-Tips.

 

[Kriegen]

My R was 0.174. I have just started so thats, not too bad.
On the other hand I just changed jobs so we will re-up this later.

David
Mechanical Engineer
Tulsa, Oklahoma

 

[andrewe77]

"For your first 6 years after graduating, maybe. For your 20-26th years, no."

I'm 29 years old. I've been with the same company since graduating. I think I'm getting screwed.

 

[Tomfh]

R = 0.25
Y = 2.0

If this trend continues another 10-20 years I might just end up owning a house in Sydney.