Purchasing power

[ctom87]

I just crunched some numbers and found something interesting.

I took my salary when I came onto my company in 2015 and multiplied it 1.26 which is the purchasing power of $1 from 2015 in today's world.

I then took my current salary, removed the only % increase from a promotion I received, and found that my yearly increase plus two significant market adjustments is actually LOWER than what my salary was worth in 2015!

What's worse, my company gives departments 2.5% to everyone across the board. If I stand out and go above and beyond and deserve more, someone has to do the polar opposite and receive less. So I could perform at the max and receive 5%, but that would mean 1 other person has to receive 0% and everyone else receives 2.5%. This incentivizes management to just blanket everyone at 2.5%....which as a result, has not beat inflation over the last 8 years.

It just chapped my a discovering this after reading that pilots are going to get a 40% increase over 4 years in their new contract. That tops out the narrow-body short-haul pilots at $475k and the wide-body long-haulers at $590k. Those long-hauler's only have to work something like 63 days a years to acheive that too. Oh well, too late to go to pilot school!

rant over, everyone have a blessed day. After all, we have more than we deserve.

[jdg13]

Wages never keep up with inflation. A few special jobs with political connections get the most money for the least work. Regular working folks get vilified any time they ask for a raise. Been like that forever and won't change.

[WItoTX]

I think if you want a raise, you are responsible to make a case for it, then present it to your boss. You shouldn't rely on your company to work against itself. Your role as an employee is to explain how giving you a raise that is more than everyone else is a direct benefit to the company.

Apart from very small companies, I've not worked anywhere that willingly gave people raises that were any higher than inflation/COLA.

[ctom87]

I think if you want a raise, you are responsible to make a case for it, then present it to your boss. You shouldn't rely on your company to work against itself. Your role as an employee is to explain how giving you a raise that is more than everyone else is a direct benefit to the company.

Excellent point! Thank you for sharing. I have not thought of doing that outside of the yearly review.

The yearly review we do make our point as the merit increase is tied to our goals. I've always been told that "the team is doing so much good work, who do I take money away from to give to you?"

[RiverRat1]

I think if you want a raise, you are responsible to make a case for it, then present it to your boss. You shouldn't rely on your company to work against itself. Your role as an employee is to explain how giving you a raise that is more than everyone else is a direct benefit to the company.

Apart from very small companies, I've not worked anywhere that willingly gave people raises that were any higher than inflation/COLA.

This.
If you know the company needs you then there is no worry in asking for a raise. Worse case you can bluff and they say no raise and you fold like a cheap suit and keep working for the same.

[Dusty Rivers]

You can thank the federal government, the federal reserve, and John Maynard Keynes for your predicament

[louieagarcia]

I’ve learned not to underestimate my wife’s purchasing power

[ctom87]

I’ve learned not to underestimate my wife’s purchasing power

Quote of the year sir! Hahaha.

[SmTx]

Things are getting more expensive I need to make more money.

"no"

Ok, here's my 2 weeks.

"No one wants to work anymore!!!!!"

[ThisLadyHunts]

Excellent point! Thank you for sharing. I have not thought of doing that outside of the yearly review.

The yearly review we do make our point as the merit increase is tied to our goals. I've always been told that "the team is doing so much good work, who do I take money away from to give to you?"

Having spent most all my life in management, that’s a b*** sh** excuse designed to keep you in your place. And while this might seem a little mercenary, your first obligation is to YOUR pocketbook and no one else’s. It is the job of upper management to figure out what they have to do to retain their employees, not yours.

If you work for a for profit company, you might want to take a look at their salaries & wages as a percent to revenue. If it’s gone down over the last few years, you might illustrate how your efforts have boosted productivity in your area and argue that investing in you is investing in growth. On the other hand, if salaries/wages have increased as a percent to revenue, you might look into who else is getting an increase and why it isn’t you.

[CTR0022]

I think if you want a raise, you are responsible to make a case for it, then present it to your boss. You shouldn't rely on your company to work against itself. Your role as an employee is to explain how giving you a raise that is more than everyone else is a direct benefit to the company.

Apart from very small companies, I've not worked anywhere that willingly gave people raises that were any higher than inflation/COLA.

Id add, having another job offer significantly increases your leverage.

[dclifton]

Coming from someone in MGMT most of the workforce has no idea what kind of leverage they hold right now against their employer. Granted this is directed at seasoned employees with value. Trying to find employees is a PIA. Im glad they dont or we would really start to see some crazy price increases.

[txbowman12]

Excellent point! Thank you for sharing. I have not thought of doing that outside of the yearly review.

The yearly review we do make our point as the merit increase is tied to our goals. I've always been told that "the team is doing so much good work, who do I take money away from to give to you?"

The appropriate response to this is, "Sorry, I thought that was my supervisor's job, I'm just a member of the team".

[hooligan]

I think if you want a raise, you are responsible to make a case for it, then present it to your boss. You shouldn't rely on your company to work against itself. Your role as an employee is to explain how giving you a raise that is more than everyone else is a direct benefit to the company.

Apart from very small companies, I've not worked anywhere that willingly gave people raises that were any higher than inflation/COLA.

This, I did it and our president said he felt like I was paid fairly and if I wanted to go make more good luck...

started my new job last monday at a 2.5x bump to my salary and less travel.

[ctom87]

This, I did it and our president said he felt like I was paid fairly and if I wanted to go make more good luck...

started my new job last monday at a 2.5x bump to my salary and less travel.

Attaboy Hooligan! Good for you!