Raises - how often

jlaOK

How often do you get a pay raise at your job and how often do you think the typical employee who is performing well should? Just curious.

Stella2008

Our raises are annual, paid beginning in February after the board approves compensation but retroactive back to January 1st. However, I've been lucky that I have gotten two out-of-cycle increases (one adjustment that I lobbied for and one mid-year promotional increase), so mine have been a bit more frequent. I'd say the standard is once per year. 

QueSrah

I work for a huge company that gives annual raises of a few percent, and supervisors have leeway to allocate their pot of cash with a little extra to higher performers and less to the lesser performers.  Outside of that, there aren't a whole lot of raises outside of promotions or occasional reviews of pay across the department.

Nechie122

I think annual is typical and sufficient. The only exception I see is if someone is promoted, changes roles or takes on a good deal of extra responsibility.

michaelaskedlauren

Dont even get my started. It has been 3.5 years since I have been given a raise, and I received a pretty big promotion in that time (in total I have received 2 raises in the 7 years Ive been here). Ive done some research that if were to leave my job, I could easily get another $35k+ at another company, but then Id have to give up all my flexibilty. Sometimes it is better the devil you know...

But anyways, to answer your question (sorry!), I would think it would be every year, but in these times, most likely not.

BabyHope2013

We are lucky if we get a 1% raise. That doesn't even cover the rising cost of parking that we have to pay. I have thought about looking for another job. But I love my co-workers, have an amazing boss and I have had the flexibility of adjusting my hours to be able to come in early and leave early to pick up DS. Those are the main reasons why I stay.

financialdiva

Annually the last couple of years, it's been 2 percent just enough to cover the increase in health insurance premiums. Raises are not performance based and are only given out if someone moves positions or gets promoted.

Our annual Bonuses are performance based though.

jf198400

I have only been at my new job for a few months, so I'm not sure how things work here yet.  At my last job, raises were annual and averaged about 2-4%.  DH is in a totally different field.  He also gets annual raises, but his are much larger, up to 20%.  However, at his company if you are promoted mid-year, you do not get a raise until the annual review comes around again.

christinak22

We either get 3% annually or nothing, depending on the financial state of the nonprofit. We've gotten one raise in the last 3 fiscal cycles. I'm ready for this economy to pick back up!

gymnst1013

At my current company I have only gotten a small not even cost of living raise the last three years.  I actually don't remember the last time I got a true performance based raise.  Back when I actually was getting them it was generally once a year at performance review time although I did ask for a couple outside of that and received them.

MammaBear81

I work for a small company (about 12 people) and we get raises each year at our year end reviews (based on performance).  The raises kick in January, we also get "units" for the profit sharing plan, we get those every year as well, they "mature" for two years and pay out in April.  I just got my first one this year and it was nice to see a "bonus" right around the same time we got our tax return!

dizzycooks

We've been on a pay freeze for 4 years.  It is essentially an annual pay cut.  Before that we had a 0.5%-1% raise each year.

ras26

dizzykates:

We've been on a pay freeze for 4 years.  It is essentially an annual pay cut.  Before that we had a 0.5%-1% raise each year.

This. Federal gov't = no raises for several years, and in my organization, bonuses are traditionally small for the majority, and this year due to sequestration, we get no performance or merit based bonuses at all.  

MomtobeNJ

I work in the non-profit world, soooo.....yeah.

I've gotten 2 pay raises in 7 years. We also get bonuses - sometimes once a year, sometimes twice, sometimes not at all. 

I could certainly be paid more elsewhere. However, I do get other benefits that make it worth staying for right now. For me it's about the whole package and not just the pay.

heyitsme

We get annual raises at the time of our annual review (retroactive to anniversary of hire date, so if my review is 1/1 I get the raise retroactively to 10/2). It's anywhere from 2-4.5% based on your calculated review score.

DH works for a state university system and hasn't had a raise in 4 years.

bearfootz

Back before things tanked there were usually annual raises.  Now it's more of a "be glad you have a job" approach disguised as market comparison.  Basically, if you're a rock star and they determine that you're not making as much as people with comparable jobs you might get a pay increase.  If they think you're already making enough it doesn't matter how great you perform.  There are bonuses IF the company meets their goals and they are based on your performance - but the system seems to be flawed for those too.  So yeah, basically you do more work for less money each year.

 

oooCarrieB

I work for a really big company and we have a formal annual review process. The raises seem to be pretty small cost of living increases, but it's better than nothing. We also are eligible for an annual bonus that is based on our performance and the departments performance.

groovygrl

I think annual raises are appropriate if a company/employer is in a financial position to do that...unfortunately like others on here, I have always worked for public universities or non-profits so my raise history is pretty scattered just depending on the economy. I got one raise in 6 yrs at my last employer, but that was everyone, not just me, there was a freeze. The only time I could see a raise more frequently than annually would be if someone changed roles/responsibilities/etc.

kristennd

I work for the government. It's not left to the discretion of my individual agency. We get cost of living about every other year and I can't remember the last time they allowed merit.

rockychryslerb2010

LibraryChica:

QueSrah:

I work for a huge company that gives annual raises of a few percent, and supervisors have leeway to allocate their pot of cash with a little extra to higher performers and less to the lesser performers.nbsp; Outside of that, there aren't a whole lot of raises outside of promotions or occasional reviews of pay across the department.

This, exactly.

This.  In 7 years with the firm, I got one out of cycle raise, but that is because my brother was offered a more junior position at pretty close to what I was making with experience at the firm.  I went to management and said I felt I deserved to be compensated for my experience and I know what a new analyst makes (we had salary freeze during worst of recession).  So, I got a pretty significant raise.  Turns out, 6 months later they changed our compensation so it was more balanced between yearly salary and bonus, so chances are they knew the change was coming and just gave me a raise I was going to get in six months anyway.