Whats a good raise?

[chaoskitty 0]

Ok so ANY raise is a good raise.. of course.. and I got one today, about a month after my annual reveiw. First year working for this employer. I didnt really know what to expect, other than something.
At my six month review, I received a nice raise. This one was a little less. The two raises combined total roughly 4-5% of my salary.
I just dont know if I should be going "WOOOHOOO! I rock!" and feel I'm being justly compensated for a job well done, or if should be disappointed and wonder if I'm really doing that great of a job. I received an oustanding annual review, so perhaps I was expecting more?
I cant talk about it with my co-workers. Thats against company policy. I dont really want to talk about it with my manager because he has nothing to do with money other than signing the paperwork.
Is 4-5% a good raise? Its actually more like 3% if you include the extra pay I receive for working slightly skewed hours.
I'd like to pick the brains of the money-types out there..

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[turtlespeed 220]

It could be better but generally that is a good raise.

I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

[chaoskitty 0]

So.. average. I hate being average. (see my sig line.. )

[VectorBoy 0]

It depends, does your company offer performance bonuses or "other compensation? Many companies think a kick ass medical program, longer vacation allowance, paying for work related higher education, stock options, straight stock or nice pensions equal out for weaker pay.
As far as overtime goes your state should have laws about how you need to be compensated for it and you NEED to be aware of these.
What industry are you in? Can you compare with other outfits in your area?
What is your raise compared to inflation? If its much less you just got a pay cut.

[Gawain 0]

If it's greater than the rate of inflation then "industry" standards will indicate that as a good raise. The past three years, there has been minimal inflation, so yeah, any raise is a good raise.

However, the days of outstanding performers getting a 8%+ are few and far between, if existent at all.

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[MajorDad 0]

Is there a way to get access to a salary survey for your occupation in your area?

I am a Professional Engineer in Alberta and when I do the annual song and dance with my company, I review the survey that my provincial association publishes. It indicates the salary band that someone with my experience and responsibility gets.

The government also has a survey but I find it is normally behind a few years.

I also talk to peers in other companies to see what the going rate is.

Regardless, remember that your company wants to keep the payroll as low as possible. Why give a 6% raise when people will accept 3%?

Remember, the more you get paid, the more you can skydive!

Major Dad
CSPA D-579

[crzjp20 0]

i got a 7% once... but only once, since then it has been 3-4%

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Fear is not a confession of weakness, it is an oportunity for courage.

[RoysPlayThing 0]

A good raise is what you got, but have them throw in a company car, more paid time off, and a personal secretary.

_______________________________________________
My mind is like a parachute...it functions only when open.

[freeflir29 0]

Doesn't sound too bad. I just got my raise. About 8% of my salary but it comes out to much more since I get 25% for overtime and 12% cost of living. I get another raise about that size next year but them I'm back to being stuck with the standard "Federal Employee" raise that congress approves.

[indyz 1]

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Is 4-5% a good raise?

That's not bad at all. I would have been plenty happy to get that at my recent 6 month review.

[Beerlight 0]

When I was in the military (just retired), we received on average a 3% annual raise. Of course, the last four years of my active duty were under President Bush were awesome with annual raises around 5% - 7%.

Now that I'm a civilian, my company gives a whopping 2.1% I hear.......consider yourself lucky....

[WrongWay 0]

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However, the days of outstanding performers getting a 8%+ are few and far between, if existent at all.

Damnit, I'm gonna be poor forever.

Wrong Way
D #27371 Mal Manera Rodriguez Cajun Chicken Ø Hellfish #451
The wiser wolf prevails.

[chaoskitty 0]

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It depends, does your company offer performance bonuses or "other compensation? Many companies think a kick ass medical program, longer vacation allowance, paying for work related higher education, stock options, straight stock or nice pensions equal out for weaker pay.

We have good health benefits, an ESOP, 25 days per year of PTO (total.. including company holidays, sick leave, personal leave), and other stuff. Overall its a nice benefits package.

[jessd 0]

I'd say that any raise is a good raise. My company did not give any annual raises for 2 years. This year they gave them. I was lucky to have been promoted just before the end of last year - so my annual raise plus the promotion increase was 14.5%. I was so happy with that. But, it will be a long time before I get another raise.

"Life is not measured by the number of breaths we take, but by the moments that take our breath away..."

[Dougjumper 0]

Kitty. Look at it like this anything is Good...
Many people are still without Jobs..still looking..
Tough Times..for many..
I would be happy I received anything..

[chaoskitty 0]

Thats the first thing I said, Doug, ANY raise is a good raise. I'm thankful that I have a job, but I do not believe that the market for my skills is so bad that I shouldn't be doing research on the market VALUE of my skills.

[gary350 0]

Oh, about six to eight inches?

[Dougjumper 0]

Past Belly button right...

[renee48323 0]

Good for you ! !
So people have been with a company for a year or two and no one has gotten raise .

At least you got a raise .

[slug 1]

Hi Chaos

I was going to say 3-4% is less than adequate. But at this time with the high rate of unemployement in general and the software industry in particuler anything is better than getting laid off.

As far a not discussing salary issues with your coworker's. That's the empoyers rules, it for their benifit not yours.IMO talk with folks you think you can trust, but be subtle.

R.I.P.

[Snowwhite 0]

Cost of living in this area was about 2.5% last year, so anything over that actually IS a raise. Our HA gave 4% to the average employee, that and a nice bonus to the ED.

skydiveTaylorville.org
freefallbeth@yahoo.com

[kansasskydiver 0]

I got $.13 cents an hour raise at my last review. In percentage that's about 3%. In the end though it ads up to about an extra jump a month.

<--- See look, pink dolphins DO exist!

[Jimbo 0]

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However, the days of outstanding performers getting a 8%+ are few and far between, if existent at all.

They still exist.

-
Jim

"Like" - The modern day comma
Good bye, my friends. You are missed.

[Blahr 0]

whether its good or not all depends on what its 4 or 5% OF

5% of 20K is only a thousand dollars. Whats that? $20.00 a week before taxes? Not that great.
5% of 80K is four thousand dollars. Not bad.

[chaoskitty 0]

The dollar amount is somewhere in between those two..