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durron597
11-17-2005, 12:38 PM
So we just got evaluations in (they occur every November in my company) and my raise was 5.45%. I work a typical 9-5 computer related job in an office. My boss basically called me in and gave me a number, I said thank you and left.

1) I thought about asking if this number was standard or performance based but decided I didn't really want to go there.

2) Where is a 5.45% raise in the relative scheme of things? Did I get shafted, or is this very good?

3) My company used to give options but they don't anymore for tax reasons. At the last company meeting they said they were discussing other things like bonuses, etc. Was this the meeting where I would find out if I was getting anything, in a typical company?

Sorry for the noobish questions but I'm only 22 and this is my first post-college real job.

Edit: I should also add that I only started working here in February.

wh1t3bread
11-17-2005, 12:40 PM
In the IT field a 3-7% raise at a mid-size company is pretty typical at least in my area (DC Metro).

11-17-2005, 12:40 PM
I work for a union and all I can say is that 5.45%, while not being ridiculously high is a fair bit higher than the average I see of about 2-3%.

I'd say you did pretty good.

asofel
11-17-2005, 12:42 PM
I think mine was 5.3 last year....doesn't seem to add much in the end, huh.....

samjjones
11-17-2005, 12:42 PM
I had averaged 7-10% my first 8 years with the company. I did not get a raise when my review came last Sept. I am thinking about new employment opportunities now.

IndieMatty
11-17-2005, 12:43 PM
Average. My first few years at my company, I got 20%, but it has leveled off into the norm 4-7% range.

swede123
11-17-2005, 12:45 PM
It hasn't exactly been a great five or so years as far as overall economy goes. I know many companies are cutting back on benefits, bonuses, and freezing or even reducing salaries. Based on this any raise is better than nothing.

Of course there are variables beyond what I mentioned above. Company performance, performance of your particular division or department, your own individual performance and how much the company/boss feels you are essential to the job getting done are all factors that play into this.

Personally I've been at my job for five years, doing consulting work in the telecom industry for a smaller firm. The first several years I didn't get much love, mostly smaller 5% raises annually. This was mostly based on my lower than expected performance levels (we are held accountable by our billable hours mostly), so I didn't have much room to complain. In the last three or so years I've been more involved and carried a heavier load and as a result they've been giving me several raises in the same year, usually about 8-10% twice a year.

Swede

BoogerFace
11-17-2005, 12:50 PM
That's a hell of a raise considering that you've only been there 6ish months.

durron597
11-17-2005, 12:51 PM
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That's a hell of a raise considering that you've only been there 9.5ish months.

[/ QUOTE ]

FYP

wh1t3bread
11-17-2005, 12:53 PM
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That's a hell of a raise considering that you've only been there 9.5ish months.

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FYP

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Actually good point. Your raise may actually have been "higher" and was prorated.

RacersEdge
11-17-2005, 12:59 PM
I'd say pretty good , especially since your a newbie there. But you should try to understand what it means just so you have a basic idea of your performance so far.

jaydub
11-17-2005, 01:05 PM
It is a solid "maintenance" raise that will keep you above inflation. It is not a big raise nor is it a promotion type of raise. Considering you just started, I would focus more on any feedback you have received.

BoogerFace
11-17-2005, 01:06 PM
[ QUOTE ]
[ QUOTE ]

That's a hell of a raise considering that you've only been there 9.5ish months.

[/ QUOTE ]

FYP

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I stand corrected. Personally, I'd burn the place down.

http://www.luminomagazine.com/2004.03/spotlight/officespace/images/milton/milton1.jpg

jba
11-17-2005, 01:14 PM
[ QUOTE ]
It is a solid "maintenance" raise that will keep you above inflation. It is not a big raise nor is it a promotion type of raise. Considering you just started, I would focus more on any feedback you have received.

[/ QUOTE ]

I agree with all of this. considering the standard "raise" a few years was -10%, this isn't bad at all.

Another thing you can do is to try to find out what the standard company wide raise is. At the end of the year management will usually decide to budget an additional X% for salary; then if X > 5.5% or whatever you got then you are underperforming.

this is usually why it isn't very easy to negotiate this stuff, a lot of times your manager is just going to get 50k or whatever and split it among his team, so if you ask for more someone is going to get less (usually).

Bulldog
11-17-2005, 01:31 PM
Cost of living usually goes up about 3.5% per year.

durron597
11-17-2005, 02:09 PM
[ QUOTE ]

Another thing you can do is to try to find out what the standard company wide raise is. At the end of the year management will usually decide to budget an additional X% for salary; then if X > 5.5% or whatever you got then you are underperforming.


[/ QUOTE ]

I heard that average company-wide is 4%. So I guess I did pretty good for 9 months /images/graemlins/smile.gif

Wes ManTooth
11-17-2005, 02:23 PM
i got a 5% raise after first 15 months, this was doo-doo considering I worked harder then other clowns that got 6% because they are better at kissing a$$.

wh1t3bread
11-17-2005, 02:25 PM
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i got a 5% raise after first 15 months, this was doo-doo considering I worked harder then other clowns that got 6% because they are better at kissing a$$.

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Maybe your 5% raise after 15 months was a result of spending more time posting here than actually doing your work?

durron597
11-17-2005, 02:37 PM
[ QUOTE ]
[ QUOTE ]
i got a 5% raise after first 15 months, this was doo-doo considering I worked harder then other clowns that got 6% because they are better at kissing a$$.

[/ QUOTE ]

Maybe your 5% raise after 15 months was a result of spending more time posting here than actually doing your work?

[/ QUOTE ]

He didn't even register 15 months ago

wh1t3bread
11-17-2005, 02:40 PM
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He didn't even register 15 months ago

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I know. He works at the same company as me. I was just messing with him.

nyc999
11-17-2005, 02:43 PM
[ QUOTE ]
[ QUOTE ]

Another thing you can do is to try to find out what the standard company wide raise is. At the end of the year management will usually decide to budget an additional X% for salary; then if X > 5.5% or whatever you got then you are underperforming.


[/ QUOTE ]

I heard that average company-wide is 4%. So I guess I did pretty good for 9 months /images/graemlins/smile.gif

[/ QUOTE ]

It most depends on how the company is doing financially. To be higher than average is good.

Jbrochu
11-17-2005, 02:50 PM
In general, 5.45% is about average. However, it really depends on a few things:

1) What was the average raise at your company? Some companies will share this information while others won't.

2) How does your current salary compare to the industry average for your position, experience level, and location? If you are well below the average compensation, you could (and should) expect to receive large salary increases. If you started at or above average, you should expect more normal salary increases.


[ QUOTE ]
3) My company used to give options but they don't anymore for tax reasons. At the last company meeting they said they were discussing other things like bonuses, etc. Was this the meeting where I would find out if I was getting anything, in a typical company?

[/ QUOTE ]

Some companies give these bonuses out with the annual review, other's give them out at other times. Don't be afraid to ask.

Based on your questions, the best advice I can give you is to make sure that you know what you're worth, then make sure you're not afraid to go after it. Learn how to ask for what you deserve without alienating people. Make sure you understand how you will be appraised, and have a discussion at least monthly with your boss regarding where you stand according to his expectations.

NoChance
11-17-2005, 03:13 PM
I work for Wells Fargo and we get our annual raises in March. Depending on your review rating, during the annual reviews you usually get either 1%, 2% or 3% for a raise. it sucks and doesn't even cover the cost of living increase each year. On the bright side, benefits are very good here.

The way to increase your pay here is to continually apply for new jobs within Wells Fargo as they come up. You have to work your current position for one year before becoming eligible to do this. When you take a new position, your salary is then re-negotiated. You can also get promoted to a new position at any time during the year and you still get your yealy raise on top of that. The third way to increase your salary here is to leave Wells Fargo (on good terms) and then come back later to a new position.

If only I could get a 5% raise next March.....

pokerdirty
11-17-2005, 03:15 PM
AA, on the button.

4_2_it
11-17-2005, 03:20 PM
I'd say you did g00t.

buffett
11-17-2005, 03:23 PM
[ QUOTE ]
I thought about asking if this number was standard or performance based

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I think you should have asked. It was bad that your manager didn't volunteer this information, but if one of my employees didn't want to know why he got a certain raise (or what he could do to get more, etc.), I would tend to think he doesn't much care about the business (and probably would be less inclined to give him good raises going forward).

durron597
11-17-2005, 03:26 PM
[ QUOTE ]
[ QUOTE ]
I thought about asking if this number was standard or performance based

[/ QUOTE ]
I think you should have asked. It was bad that your manager didn't volunteer this information, but if one of my employees didn't want to know why he got a certain raise (or what he could do to get more, etc.), I would tend to think he doesn't much care about the business (and probably would be less inclined to give him good raises going forward).

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You're probably right... the main reason I didn't ask is that I didn't know where a 5.45% raise was on the relative scale of things, so I didn't really have a frame of reference to ask.

A coworker in my group who has a similar job to me told me his % (but not his absolute) got here about 2.5 months after I did and got a 3.85% raise, which makes mine very slightly higher proportionately (so slight that they probably rounded off to make the numbers a little more even). And I know I do a better job than him.

Diplomat
11-17-2005, 03:50 PM
You could have just asked when he gave you the number (what the average was, how you were doing, etc.).

-Diplomat

durron597
11-17-2005, 04:50 PM
[ QUOTE ]
You could have just asked when he gave you the number (what the average was, how you were doing, etc.).

-Diplomat

[/ QUOTE ]

I know they're happy with me (my boss actually made it a point to come to me last week and say "good work"). I wasn't sure if it was any of my business to ask what the average was at the time.

2planka
11-17-2005, 05:03 PM
You did okay. I got 4.75% last year. For perspective, I'm 33 with 10 years experience in my field. I have some direct reports and our increase guideline was capped at 5.5%

Sarbains (SP?) put an end to the merit-based options plan here.

Bonuses are another story. I never received a bonus until this morning. At my firm, the bonus program is for only a few mere mortals (the VP's all get bonuses, but you have to be an exceptional schlep to rate for one). The bonus for the worker bees is very selective, approved by the board, and strictly confidential. Unless it was a condition of your initial job offer, I wouldn't expect a bonus. I still can't believe I got one.

durron597
11-17-2005, 05:08 PM
[ QUOTE ]

Sarbains (SP?) put an end to the merit-based options plan here.

[/ QUOTE ]

We are SOX compliant now too.

[ QUOTE ]

Bonuses are another story. I never received a bonus until this morning. At my firm, the bonus program is for only a few mere mortals (the VP's all get bonuses, but you have to be an exceptional schlep to rate for one). The bonus for the worker bees is very selective, approved by the board, and strictly confidential. Unless it was a condition of your initial job offer, I wouldn't expect a bonus. I still can't believe I got one.

[/ QUOTE ]

I got options with my offer. As far as bonuses go, though, at the last company meeting the CEO said that they were thinking about giving out bonuses instead of options because options now tax the company. I still have my options though, they just aren't giving them to new employees.

I was more asking if people get bonuses at the annual review or more like around the december holidays (or at the end of the companies fiscal year, or any time they feel like it).

2planka
11-17-2005, 05:13 PM
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I was more asking if people get bonuses at the annual review or more like around the december holidays (or at the end of the companies fiscal year, or any time they feel like it).

[/ QUOTE ]

Ours coincided with the closing of the fiscal year, subsequent board meetings, and the 10-K filing authorizing the big-whig bonuses.

11-17-2005, 05:19 PM
Consider yourself lucky.

My owner told us we weren't getting a raise this year (back in June), because he "couldn't forecast how we'd do this year".

He did give us a monetary bonus about a month later though that equated to about 2.25% of my annual salary. It was better than nothing, plus it was in a lump sum, so really it's worth about 2.5% over the course of the year.

I hate my boss. He then proceeded to go out and buy us all flat-screen monitors that we don't need. He only invests profit back into himself, not the people that make him the profit.

In his eyes, him PURCHASING a flat-screen monitor and letting ME use it is equal to him giving me cash. Yeah, he's a d*ckhead.

joshman1204
11-17-2005, 05:22 PM
I thought standard was 4xBB

11-17-2005, 05:24 PM
[ QUOTE ]
I thought standard was 4xBB

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I resisted posting this, verbatim.

It took a lot of will-power.

You'll attain this much will-power someday.

/images/graemlins/laugh.gif

durron597
11-17-2005, 05:43 PM
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I thought standard was 4xBB

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http://www.punogre.com/images/other/nopkrinoot.gif