What was your % pay raise?

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leonidas
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Re: What was your % pay raise?

Post by leonidas » Thu Jan 21, 2016 8:25 am

I got a 2% raise and a performance bonus of 7.8%. I work in IT for the FRB.

dsmil
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Re: What was your % pay raise?

Post by dsmil » Thu Jan 21, 2016 8:38 am

9% for me this year. I've been lucky with my pay basically doubling since graduating 6 years ago, but I know that annual 3% raises are going to be the norm very soon (unless I switch jobs).

EzM
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Re: What was your % pay raise?

Post by EzM » Thu Jan 21, 2016 9:32 am

26/m, small company (5 employees). 2015 was 8.3% raise, 8.3% bonus.

I feel like I'm getting close to a ceiling though. Probably 2% raise + 5% bonus in 2016.

lesstjm
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Re: What was your % pay raise?

Post by lesstjm » Thu Jan 21, 2016 9:51 am

I wonder what the average wage for a CEO has been over the last decade and if they have taken any cuts

Cuzz35
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Re: What was your % pay raise?

Post by Cuzz35 » Thu Jan 21, 2016 9:56 am

For my company's FYE 2015 I was promoted and received a 23.33% raise and 7.5% bonus. I'm not sure what it will be for FYE 2016 but I would expect closer to 5% raise and bonus +/- 2%, although I've been told I could get promoted again ( 3rd year in a row). I'm a CPA in public accounting at a medium sized firm.

JimmyD
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Re: What was your % pay raise?

Post by JimmyD » Thu Jan 21, 2016 10:44 am

2.6% this year...and something like a $750 bonus. It was so pitiful that I forgot the exact amount. This comes after the best fiscal year in the company's 100+ year history, so there's been quite a bit of grumbling around here.

That said, I enjoy the work, the people, the commute, and the benefits, so it could definitely be worse.

TheColorist
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Re: What was your % pay raise?

Post by TheColorist » Thu Jan 21, 2016 10:58 am

Got a 10% pay raise this year :D (double the 5% raise I got last year) and a one month's paycheck for bonus versus half-month's paycheck bonus all the years before. A nice perk working for a small company with lower overhead.

AWH_CPA
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Re: What was your % pay raise?

Post by AWH_CPA » Thu Jan 21, 2016 3:13 pm

12%. Finally made it to the six figure club.

Traveler
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Re: What was your % pay raise?

Post by Traveler » Thu Jan 21, 2016 9:29 pm

Our merit increases come in April so last April I rec'd 3%. However, I expect a larger bonus for 2015 than we got in 2014 so total pay increase yoy would be about 8%. I expect a 3-3.5% merit increase this year.

ghsebldr
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Re: What was your % pay raise?

Post by ghsebldr » Fri Jan 22, 2016 1:45 am

Self employed. 46% this year. Last year was up 44%. Shooting for 46+ in 2016.

bayview
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Re: What was your % pay raise?

Post by bayview » Fri Jan 22, 2016 9:37 am

Federal employee here. The overall raise was announced as 1.3%, 1% for the underlying pay plus up to 0.3% for locality pay.

Here in RUS land (Rest of US), my raise worked out to not quite 1.17%. Whee! I also received a one-time merit bonus, I suppose it's called, generated by some arcane secret formula used by HR and understood by no one.

I think it was 1% the last two years, and a complete freeze for the three years before that.

I'll be getting a step raise in another year and a half (breathless with anticipation.)
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri

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TSquare
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Re: What was your % pay raise?

Post by TSquare » Fri Jan 22, 2016 9:59 am

3.5% Cola, at National A/E/C firm.

Pretty standard.

takeshi
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Re: What was your % pay raise?

Post by takeshi » Fri Jan 22, 2016 10:52 am

4strings wrote:If any, what was your base salary % pay raise for this year?
Not that time of the year for us yet. 0% last year. I'm in oil & gas and not really expecting much of a change for this year.

BV3273
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Re: What was your % pay raise?

Post by BV3273 » Fri Jan 22, 2016 12:48 pm

I am receiving a 2.5% raise within the next month or so. I am also up for a promotion which should take effect about a month or two later which is going to amount to an additional 7-10% raise.

I'm treating both of these raises as a way to boost my 401K contributions and begin Roth IRA contributions.

Quotia
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Re: What was your % pay raise?

Post by Quotia » Fri Jan 22, 2016 8:58 pm

bayview wrote:Federal employee here. The overall raise was announced as 1.3%, 1% for the underlying pay plus up to 0.3% for locality pay.

Here in RUS land (Rest of US), my raise worked out to not quite 1.17%. Whee! I also received a one-time merit bonus, I suppose it's called, generated by some arcane secret formula used by HR and understood by no one.

I think it was 1% the last two years, and a complete freeze for the three years before that.

I'll be getting a step raise in another year and a half (breathless with anticipation.)
Another Fed here. In my area, I think the raise came out to 1.45%. I've already upped my TSP contribution.

Last year was a pretty great one for me, so I got my agency's top bonus level (for non-SES folks, that is): 1.5%. (The other bonus level is .5%) It's sittting in my savings right now.

Candor
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Re: What was your % pay raise?

Post by Candor » Fri Jan 22, 2016 9:08 pm

We get paid bi-weekly so generally there are 26 pay periods a year but this year because of how the pay days line up we will actually receive 27 paychecks in 2016. In light of this the company decided that would be our raise which they tried to convince us was a 3.8% raise. Funny how we get a 3.8% raise but our paycheck doesn't change. The silver lining is next year we will be back to 26 paychecks for the year and our paycheck will then increase the 3.8% and hopefully we will get another actual raise for 2017 which these days is usually in the 2% range so I guess in the long run our raise/non-raise this year will work out for the better.

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prudent
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Re: What was your % pay raise?

Post by prudent » Fri Jan 22, 2016 9:18 pm

I'm above the top of the pay scale for my grade, so there will be zero increase to my salary. Might get a 1% bonus in lieu of a raise (maybe) and very likely an incentive plan bonus of between 2%-5%.

investingdad
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Re: What was your % pay raise?

Post by investingdad » Fri Jan 22, 2016 10:12 pm

3% plus 10% bonus.

Wife will probably be similar.

I'm good with it.

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MNGopher
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Re: What was your % pay raise?

Post by MNGopher » Fri Jan 22, 2016 11:00 pm

We have a tentative 2 year contract that we need to vote on next week, that will give us a 1.8% increase this year and 3.0% next year.

frugalfraggle
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Re: What was your % pay raise?

Post by frugalfraggle » Fri Jan 22, 2016 11:28 pm

I get a raise in June. In 2015 it was 2% and then a 10% of annual salary bonus in Nov. I'm in tech.

TexasPenny
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Re: What was your % pay raise?

Post by TexasPenny » Fri Jan 22, 2016 11:58 pm

I'm in healthcare - haven't had a raise in over two years. But, they still match the 401k at 6% and give an additional 3% profit sharing. I'm sticking around till we pay off the mortgage by the end of this year and then I'll start looking. I've been with them over 11 years.

NOVACPA
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Re: What was your % pay raise?

Post by NOVACPA » Sat Jan 23, 2016 12:23 am

From 2009 to 2011: 255% (First Job)
From 2011 to 2012: 42.8% (2nd Job)
From 2013 to 2014: 28.7% (Promotion)
From 2014 to 2015: 20.03% (3rd Job)
Likely 2015 to 2016: 3% (The benefits are good...?)

I've interviewed inside or outside every year prior to compensation season for the following reasons:
  • Recruiters were asking via LinkedIn (outside interviews);
    I wanted to know my true market value (outside interviews);
    Bureaucracy did not allow me to change jobs internally (inside interviews and then outside interviews);
For young professionals (since I am only 28) I highly recommend https://getraised.com/

Answer some questions on GetRaised.com and the result is this:

[Manager Name],

I've really enjoyed working at [Company] over the [period of time at company], and the opportunities I've had to take on new responsibilities and help us achieve our objectives. As I'm sure you can understand, given the expansion of both my abilities and my role, I would like to request a review of my compensation to bring it into alignment with my new market value.

Market Value: In order to understand my market value, I have been researching positions similar to mine in [City]. Using open job postings and data from the Bureau of Labor Statistics, I have found that the median expected salary for a typical [Job Title] is $162,000, which is [$XYZ] more than my current salary. To help put my request in context, I've attached three open job postings in the area with responsibilities similar to mine.

Increased Responsibility: Having been with [Company] for more than [period of time at company], I have continued to take on increasing responsibilities. As a [Job Title], my primary duties include [job duty 1], [job duty 2] and [job duty 3]. Since I was hired, I have also worked [new project 1], [new project 3] and [new project 3]. My expanding role is important to me and is a key factor in my decision to request a review of my compensation.

Continued Growth: I enjoy working at [Company], and I am excited about my future potential here. In the short term, [ST Goal 1] and a [ST Goal 2], and in the long term, [LT Goal 1] and [LT Goal 2]. I believe I have a bright future with [Company] and want to continue to grow in my position.

Based on these three points, I would like to request an [eight percent (choices are given in the input screen)] increase from my current salary of $XYZ, raising my total yearly compensation to $ABC.

I realize that it may be difficult to fulfill a salary increase at this time, and I greatly appreciate your consideration of my request. If an adjustment cannot be made now, I would appreciate the opportunity to revisit this issue in 6 months. In addition, any recommendations on how I can improve my value to the organization would be greatly appreciated, as your input is important to me.

In closing, I want you to know that I truly enjoy my work at [Company] and trust that you can appreciate my reason for making this request: I value the work that I do here. After you have had a chance to review this letter, I would be happy to discuss any details and assist with my compensation review.

Thank you,
[Your Name], CPA
[Title]
[Phone]
[Email]

czr
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Re: What was your % pay raise?

Post by czr » Sat Jan 23, 2016 7:02 am

prudent wrote:I'm above the top of the pay scale for my grade, so there will be zero increase to my salary. Might get a 1% bonus in lieu of a raise (maybe) and very likely an incentive plan bonus of between 2%-5%.
I don't have this issue but does the pay scale range increase annually with cola, etc.?

bayview
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Re: What was your % pay raise?

Post by bayview » Sat Jan 23, 2016 8:07 am

Candor wrote:We get paid bi-weekly so generally there are 26 pay periods a year but this year because of how the pay days line up we will actually receive 27 paychecks in 2016. In light of this the company decided that would be our raise which they tried to convince us was a 3.8% raise. Funny how we get a 3.8% raise but our paycheck doesn't change...
Wow! :shock: That's just... wow! :shock:

Do they display this lack of candor (har har) in other areas as well?
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri

JoeJohnson
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Re: What was your % pay raise?

Post by JoeJohnson » Sat Jan 23, 2016 10:21 am

Was expecting title change +6% and merit/COL +3%, but I jumped ship to a different megacorp for 43% raise, 2 levels up promotion, working fewer hours, and a better environment. It pays to have a strong network.

minesweep
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Re: What was your % pay raise?

Post by minesweep » Sat Jan 23, 2016 10:29 am

ddunca1944 wrote:
CABob wrote:Social Security benefit was 0.0%. :annoyed

+1
As was my non-cola pension. :(
Ditto!

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Re: What was your % pay raise?

Post by tibbitts » Sat Jan 23, 2016 10:33 am

I've really enjoyed working at [Company] over the [period of time at company], and the opportunities I've had to take on new responsibilities and help us achieve our objectives.
Cautionary note: If I was a manager I would have stopped reading right there, assumed you were resigning, forwarded the letter to HR with a yellow sticky (or electronic version thereof) "resignation letter" attached (so probably nobody there would read it either), and starting hiring your replacement. Might be one of the many reasons I'm no longer a manager :-)

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AtlasShrugged?
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Re: What was your % pay raise?

Post by AtlasShrugged? » Sat Jan 23, 2016 11:09 am

I work in private industry for 'Big Corp', an int'l firm with 10K+ employees. The US average was 3%. I was fortunate and received 3.5%.
“If you don't know, the thing to do is not to get scared, but to learn.”

KyleAAA
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Re: What was your % pay raise?

Post by KyleAAA » Sat Jan 23, 2016 11:22 am

0%, although I got a promotion with a sizable raise in September, so I'm not unhappy.

cherijoh
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Re: What was your % pay raise?

Post by cherijoh » Sat Jan 23, 2016 11:47 am

DVMResident wrote:Individual raised have not been announced, yet.

But average raises will be sub-2%.
Interesting, the company did "well" and bonuses will be at ~+50% over expected. Individual performance rarely move the needle more than 10%, meaning almost everyone gets between 0.9-1.1x of target. This year, the bonuses will be 1.35~1.65x of target.

Short-term company metrics equal short term rewards for employees. Individual efforts means almost nothing except for the margins, i.e. fired or promoted. Mega-corps are weird.
Mega-corps are indeed weird! I won't get my raise/bonus info until next month, although the company also did well in 2015. There isn't much transparency into our salary/bonus process - at least for non-managers like me.

I took a lateral transfer in mid-2014 and didn't get any bump in salary. (However, it was a really good strategic move). In 2015, I did get a slightly bigger salary increase than the past few years, but my bonus was flat for the 3rd year in a row even though my performance reviews demonstrated added value to the company. :annoyed

Our bonus is dependent on a overall performance rating in two categories. In order to get the highest rating for a category, you have to have that same rating for the majority of the elements in the category (usually 3 - 5). Therefore, the vast majority of employees will fall into the same bucket since it is tough to meet the hurdle to get the highest category ranking. In addition, the category that I've heard contributes the most to the bonus formula is highly dependent on project assignment. If it isn't a high visibility/ high impact project, the best you can get is the average ranking for that element. In short, the process is stacked against you -- so what most people get is determined almost exclusively by the size of the bonus pool.

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pennstater2005
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Re: What was your % pay raise?

Post by pennstater2005 » Sat Jan 23, 2016 11:54 am

Slightly off topic........Has anyone ever received a pay raise but wasn't notified of it?
“If you think nobody cares if you're alive, try missing a couple of car payments.” – Earl Wilson

cherijoh
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Re: What was your % pay raise?

Post by cherijoh » Sat Jan 23, 2016 12:07 pm

pennstater2005 wrote:Slightly off topic........Has anyone ever received a pay raise but wasn't notified of it?
I came close with a former boss. He cancelled a bi-weekly meeting with me due to a scheduling conflict, then forgot that I hadn't gotten the salary talk like the rest of the team. (Our next meeting was scheduled for after the payday where the raise was to be effective). I emailed him the day before the pay stub would have shown up online to remind him we hadn't discussed compensation. He was pretty embarrassed, but he did schedule a meeting to beat the deadline. :wink:

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prudent
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Re: What was your % pay raise?

Post by prudent » Sat Jan 23, 2016 12:29 pm

czr wrote:
prudent wrote:I'm above the top of the pay scale for my grade, so there will be zero increase to my salary. Might get a 1% bonus in lieu of a raise (maybe) and very likely an incentive plan bonus of between 2%-5%.
I don't have this issue but does the pay scale range increase annually with cola, etc.?
It does increase annually but not strictly based on COLA.

The problem I have with the system is with how it punishes new employees. Most start at the bottom of the pay scale for the grade. Then let's say they get a 2% raise if they aren't star performers from the start. Next year, the pay scale goes up by 2%, and the next year's new hires are making the same as what the people with a year's experience are getting.

NOVACPA
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Re: What was your % pay raise?

Post by NOVACPA » Sat Jan 23, 2016 12:57 pm

tibbitts wrote:
I've really enjoyed working at [Company] over the [period of time at company], and the opportunities I've had to take on new responsibilities and help us achieve our objectives.
Cautionary note: If I was a manager I would have stopped reading right there, assumed you were resigning, forwarded the letter to HR with a yellow sticky (or electronic version thereof) "resignation letter" attached (so probably nobody there would read it either), and starting hiring your replacement. Might be one of the many reasons I'm no longer a manager :-)
Absolutely understandable.

When I've used these it was usually done with a scheduled meeting to discuss compensation and this letter was sent minutes before and used to guide the discussion.

twinDad
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Re: What was your % pay raise?

Post by twinDad » Sat Jan 23, 2016 3:45 pm

4% plus 5.6% bonus at a banking megacorp.

MarkBarb
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Re: What was your % pay raise?

Post by MarkBarb » Sat Jan 23, 2016 3:56 pm

bigred77 wrote:Still very much in the early part of my career and for the first time since I graduated Undergrad I did not receive a raise for the year.

The Oil patch is rough right now. Everyone (including me) is just trying to stay employed.
Same situation. 0% for the second year and delighted to get that much.

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bostondan
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Re: What was your % pay raise?

Post by bostondan » Sat Jan 23, 2016 3:59 pm

I had a 250% raise in July, when I completed residency.

Next year I'm taking a 50% pay cut to be able to spend time taking care of my mother, who is sick, and also because my wife and I are expecting a baby in August. I'll still make a decent salary, but will only work about 10 days per month, which will allow great flexibility.

My wife just got a 45% pay raise, because the state decided to pay state lawyers better! It is a raise from a low salary, to a moderate salary, but makes her much happier with her current position.
“There may be times when we are powerless to prevent injustice, but there must never be a time when we fail to protest.” - Elie Wiesel

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Peter Foley
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Re: What was your % pay raise?

Post by Peter Foley » Sat Jan 23, 2016 4:12 pm

My defined pension went up 2%. (I'd call that a pay raise - better than when I was employed.)

I was a public employee and in my last 10 years of employment (2002 to 2012) I averaged less than a 1% raise per year. Two recessions hit state government hard so there was no support for state employee pay raises. Everyone's pay was frozen for multiple years in a row.

DVMResident
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Re: What was your % pay raise?

Post by DVMResident » Sun Jan 24, 2016 2:26 am

Peter Foley wrote:My defined pension went up 2%. (I'd call that a pay raise - better than when I was employed.)

I was a public employee and in my last 10 years of employment (2002 to 2012) I averaged less than a 1% raise per year. Two recessions hit state government hard so there was no support for state employee pay raises. Everyone's pay was frozen for multiple years in a row.
^ The reason I left public academia.

We had people retire because, without raises, the COLAs in retirement were worth more than the years of service.

When I started, there was a 3% match in 403(b) and 0% employee contribution to the pension. 5 years later, there was one 3% raise across the board, the match was gone, and employee pension contributions raised to 10%. A nominal decrease in salary of 10% over a 5 year span. We lost a lot of talent over the last decade.

intothegreatunknown
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Re: What was your % pay raise?

Post by intothegreatunknown » Sun Jan 24, 2016 4:04 am

Over the course of 2015 my salary increased ~29%. The company doesn't have bonuses.

One increase was a company wide salary readjustment, as the company has been growing like crazy and didn't have official levels until recently. (I don't know of anyone whose salary decreased, but some people didn't get increases.) The second increase was due to a promotion.

intothegreatunknown
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Re: What was your % pay raise?

Post by intothegreatunknown » Sun Jan 24, 2016 4:08 am

pennstater2005 wrote:Slightly off topic........Has anyone ever received a pay raise but wasn't notified of it?
That's happened to me. My manager was on his honeymoon.

dpurdy800m
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Re: What was your % pay raise?

Post by dpurdy800m » Sun Jan 24, 2016 11:55 am

$1.14 an hour and $250 bonus. I work for local government sheriffs department. Can't beat the benefits just wish the pay was more.

plumber1
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Re: What was your % pay raise?

Post by plumber1 » Sun Jan 24, 2016 12:11 pm

31% here for last year, this year looks to be even busier.

Drovor
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Re: What was your % pay raise?

Post by Drovor » Sun Jan 24, 2016 12:39 pm

Last year received a yearly 3% raise. This year might be getting close to 8% to get closer to the average pay at my position.

PaunchyPirate
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Re: What was your % pay raise?

Post by PaunchyPirate » Sun Jan 24, 2016 3:05 pm

Haven't had a raise in pay since 2006.

GrandDesigns
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Re: What was your % pay raise?

Post by GrandDesigns » Sun Jan 24, 2016 3:06 pm

I got promoted so my raise was 12.5%.

rn_tts
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Re: What was your % pay raise?

Post by rn_tts » Sun Jan 24, 2016 6:26 pm

I received a pay raise of 3.5% from my yearly evaluation plus 8.8% for merit increase. So a total of 12.3% raise. I'm very happy.

JW-Retired
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Re: What was your % pay raise?

Post by JW-Retired » Sun Jan 24, 2016 7:21 pm

-0.3%
0% for pension & SS and the RMDs are smaller by just a hair this year. Plenty good enough for retirees. :sharebeer
Retired at Last

tman
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Re: What was your % pay raise?

Post by tman » Sun Jan 24, 2016 8:27 pm

0% this year.

6 years ago everyone received a 6% cut in pay due to our client playing us off against offshore company rates. Only caught back up to where i was couple years ago. I try not to think about it, trying to hang in there another 3+ years till retirement.

knowledge
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Re: What was your % pay raise?

Post by knowledge » Mon Jan 25, 2016 7:31 am

A promotion after a re-org gained me a 17% increase to my base and a 25% increase to my overall comp target. Prior year was a just a 2.5% increase.

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