7% rise is good and way above the APR rate which is usually about 3%. I await my appraisal when I find out mine but I know I have hit almost all of my objectives so am hopeful but knowing the way companies and budgets work not too!!
If you receive an increase of less than 3%, you are effectively receiving a pay decrease, if it is anything above 3% (mine was 5% this year ), then you are effectively getting a pay increase.
It therefore goes that I got a 2% increase in 'real terms' this year!
I have gone from about 12k a year, to £16,860 a year + 20% allowance for weekend work, plus time a half on satudays and double time on Sundays & bank holidays.
I was comparing my pay increase to my family and friends (people i trust are telling the truth!) And they either work in the city, or are doctors, solicitors etc.
They all seem to get huge pay increases each yr, which makes my pay rise quite measily.... one friend who is a commercial banker got a 25k Christmas bonus and got a 10k pay rise this yr!
But i suppose the more you earn the less of a pay increase (in percentage terms) you receive... so i better just work my way up till i get my Porcshe!
7% rise is good and way above the APR rate which is usually about 3%. I await my appraisal when I find out mine but I know I have hit almost all of my objectives so am hopeful but knowing the way companies and budgets work not too!!
It's perfectly fair. You are on an annual salary, paid in equal calendar-monthly instalments, which is not the same as a monthly salary. If the end of the month falls on a Monday, you'll be paid on a Monday, so trying to map it to weeks is irrelevant.
When it comes to working out a fraction of a month, usually on starting or leaving the job, they will either take the number of days you've worked (including weekends) and multiply that by 1/365th of your annual salary, or the number of working days and multiply it by 7/5ths of 1/365th.
The week isn't deducted: they're simply giving you 3/4 of a month's pay for 3/4 of a month's work.
But no- Im not paid on 1st day of each month- Im paid on the 15th every month- so last month worked 5 weeks a this mornth and got my usualy monthly salary- fine but dont see why this extra week cant be added to the month I work three weeks- but then they change things so they pay on days worked basis. Seems unfair they change the system to benefit them but when I would have earned more on days basis in the 5 week month it stays as a 1/12 deduction.
You can work out your personal rate of inflation, rather than the 'overall' figure quoted by the government, using this personal inflation calculator on the ONS website.
For me, my personal inflation works out about 5%. I expect to get an annual pay rise of about 2.5%. So, effectively, I am being given a pay cut.
This year the company I work for has done very well, and exceeded the market expectations, so they have taken this opportunity to decide not to pay us any bonuses. :mad: To really rub salt into the wounds they also sent us a letter congratulating us on our hard work, and thanking us for making this an excellent year for the company. Actually it was a good year for the senior managers because they are still getting their bonuses.
They used to be a good company to work for, but I think that this round of pay-rises will be driving people away. (The recruitment consultants have already started the cold calls around the office )
Do any of you feel a pay rise is like a double edged sword?
Since my pay rise my workload has gone up dramatically... Maybe as i was doing a lot towards the end of last year to impress my manager.. but now this is just not on!
Its appraisal time next month so guess its time to list my complaints.
got told our pay rises yesterday - not a happy bunny - we were told that overall the salary budget couldn't increase by more than 4% - what did I get 2.8% - why because my basic salary is higher than some other people
got told our pay rises yesterday - not a happy bunny - we were told that overall the salary budget couldn't increase by more than 4% - what did I get 2.8% - why because my basic salary is higher than some other people
That's not too far out of the ordinary. In most companies, weighting is given to those near the bottom of each grade salary band.
That's not too far out of the ordinary. In most companies, weighting is given to those near the bottom of each grade salary band.
that I understand but it annoys me that the junior gets a better percentage pay rise just because they are the junior - surely what you actually do and how hard you work should be taken into account - or why should I bother working hard
that I understand but it annoys me that the junior gets a better percentage pay rise just because they are the junior - surely what you actually do and how hard you work should be taken into account - or why should I bother working hard
Because wages are linked to experience-based knowledge. When you first start in a role, you have no experience, so your wage is relatively low as you are a potential risk. However, it's then a steep learning curve as you pick up lots of new skills. After you've been in the role for a few years, the rate at which you pick up new skills slows down, and eventually, there's not much differential between someone who has worked in the role for 6 years and someone who's worked in the same role for 10 years. Hence, wages climb sharply at first and then slow. If they all went up linearly, the person who'd been there for 10 years would still earn an awful lot more than the person who had been there for 6 years, despite the fact that they are about as equally useful to the company.
They haven't even announced what the % increase is this year, because not everyone has completed their appraisals, and the directors need to have in at least 95% before they decide how much they can award. So no rise for us in April, hopefully in May.
I'm looking for a new job as I haven't had a pay rise in 6 years.
A colleague of mine hasn't had a pay rise in 9 years because he got on the wrong side of his boss once. He's still happy in his job though.....(and to be fair, he's still getting about £78k pa)
Because wages are linked to experience-based knowledge. When you first start in a role, you have no experience, so your wage is relatively low as you are a potential risk. However, it's then a steep learning curve as you pick up lots of new skills. After you've been in the role for a few years, the rate at which you pick up new skills slows down, and eventually, there's not much differential between someone who has worked in the role for 6 years and someone who's worked in the same role for 10 years. Hence, wages climb sharply at first and then slow. If they all went up linearly, the person who'd been there for 10 years would still earn an awful lot more than the person who had been there for 6 years, despite the fact that they are about as equally useful to the company.
ah but that not what I am on about - we employ a few junior members of staff & I am the only person in my position - it was implied to me that the reason I didn't get 4% was because my base salary is larger than the junior member of staff but other employees who earn more than me got 4% or more - so I want to know what was the criteria for allocating the pay rises is it salary based or not
Comments
If you receive an increase of less than 3%, you are effectively receiving a pay decrease, if it is anything above 3% (mine was 5% this year
It therefore goes that I got a 2% increase in 'real terms' this year!
I have gone from about 12k a year, to £16,860 a year + 20% allowance for weekend work, plus time a half on satudays and double time on Sundays & bank holidays.
Rather chuffed
I was comparing my pay increase to my family and friends (people i trust are telling the truth!) And they either work in the city, or are doctors, solicitors etc.
They all seem to get huge pay increases each yr, which makes my pay rise quite measily.... one friend who is a commercial banker got a 25k Christmas bonus and got a 10k pay rise this yr!
But i suppose the more you earn the less of a pay increase (in percentage terms) you receive... so i better just work my way up till i get my Porcshe!
Which APR rate?
But no- Im not paid on 1st day of each month- Im paid on the 15th every month- so last month worked 5 weeks a this mornth and got my usualy monthly salary- fine but dont see why this extra week cant be added to the month I work three weeks- but then they change things so they pay on days worked basis. Seems unfair they change the system to benefit them but when I would have earned more on days basis in the 5 week month it stays as a 1/12 deduction.
For me, my personal inflation works out about 5%. I expect to get an annual pay rise of about 2.5%. So, effectively, I am being given a pay cut.
This year the company I work for has done very well, and exceeded the market expectations, so they have taken this opportunity to decide not to pay us any bonuses. :mad: To really rub salt into the wounds they also sent us a letter congratulating us on our hard work, and thanking us for making this an excellent year for the company.
They used to be a good company to work for, but I think that this round of pay-rises will be driving people away. (The recruitment consultants have already started the cold calls around the office
7% and I am very chuffed.. That's very decent rise.
We get 2.5% here normally.
I didnt see it last year as i paid it straight into the company pension, but this year is will be all mine
All Sainsbury's colleagues are receiving a 5.6% Pay rise except managers who will receive a 3.5% rise.
Since my pay rise my workload has gone up dramatically... Maybe as i was doing a lot towards the end of last year to impress my manager.. but now this is just not on!
Its appraisal time next month so guess its time to list my complaints.
That's not too far out of the ordinary. In most companies, weighting is given to those near the bottom of each grade salary band.
that I understand but it annoys me that the junior gets a better percentage pay rise just because they are the junior - surely what you actually do and how hard you work should be taken into account - or why should I bother working hard
Because wages are linked to experience-based knowledge. When you first start in a role, you have no experience, so your wage is relatively low as you are a potential risk. However, it's then a steep learning curve as you pick up lots of new skills. After you've been in the role for a few years, the rate at which you pick up new skills slows down, and eventually, there's not much differential between someone who has worked in the role for 6 years and someone who's worked in the same role for 10 years. Hence, wages climb sharply at first and then slow. If they all went up linearly, the person who'd been there for 10 years would still earn an awful lot more than the person who had been there for 6 years, despite the fact that they are about as equally useful to the company.
A colleague of mine hasn't had a pay rise in 9 years because he got on the wrong side of his boss once. He's still happy in his job though.....(and to be fair, he's still getting about £78k pa)
It's strange that we have two levels of measuring inflation though. Under the new CPI measure I'd only have got around 3%!
ah but that not what I am on about - we employ a few junior members of staff & I am the only person in my position - it was implied to me that the reason I didn't get 4% was because my base salary is larger than the junior member of staff but other employees who earn more than me got 4% or more - so I want to know what was the criteria for allocating the pay rises is it salary based or not