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Old 04-04-2019, 07:47 PM
 
33 posts, read 9,743 times
Reputation: 92

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Hi, cost of living increases - how typical is this for most corporations? Iím salaried (non commission and no bonus structure) - and just realized my company (large business) doesnít offer this, nor do they seem to have a standard for annual raises. Is this something I should be asking when interviewing? Standard practices?

Just curious on your experiences; to help me best position myself for any future roles.

Thanks!
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Old 04-04-2019, 08:13 PM
 
2,451 posts, read 699,218 times
Reputation: 3433
Standard is 0%. If you're lucky, you get less than inflation rate increase.

This is why so many people bail and go to other companies.
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Old 04-04-2019, 09:06 PM
 
1,704 posts, read 558,708 times
Reputation: 3605
Any time I've worked for major corporations the standard is at least matching inflation, for all but the lowest performers.
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Old 04-05-2019, 03:34 AM
bUU
 
Location: Georgia
11,884 posts, read 8,668,795 times
Reputation: 8406
My megacorp gives inflation level increases for top performers, less for satisfactory performers.

It is pitiful to see some people still refusing to acknowledge the now decades-long trend in wage stagnation.

https://www.pewresearch.org/fact-tan...d-for-decades/

https://www.bloomberg.com/opinion/ar...th-many-causes

https://slatestarcodex.com/2019/02/2...anted-to-know/

https://www.nytimes.com/2018/07/18/o...ic-growth.html

https://www.epi.org/publication/char...ge-stagnation/

https://www.npr.org/2018/09/03/64426...are-stagnating

https://hbr.org/2017/10/why-wages-ar...ing-in-america

https://www.jff.org/points-of-view/c...ge-stagnation/
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Old 04-05-2019, 08:28 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
29,828 posts, read 54,521,132 times
Reputation: 31144
None here, only annual performance based raises, from 0 up to 5%.
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Old 04-05-2019, 08:31 AM
 
780 posts, read 204,781 times
Reputation: 1134
0% to 2% has been the norm in my experience. I wish we got performance increases, but I've never worked for an organization that gave them out. Bonuses have somewhat been tied to performance, but the major factor was company performance, not individual performance.
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Old 04-05-2019, 08:59 AM
 
Location: Los Angeles
12,185 posts, read 10,378,713 times
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Performance based only at a fortune 500 company. Ranges from 0-5%.
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Old 04-05-2019, 10:04 AM
 
325 posts, read 395,786 times
Reputation: 671
COLA seems to mostly be used in the public sector, as far as I know. In the private sector, it's just annual salary adjustments (i.e. "raises") which should, at a minimum, include that year's inflation%.

I've always received "Compensation Adjustments" which is my company's way to say a raise. They have never split out COLA separately--I guess they just want to be able to show a big number, versus two small numbers?

Anyways, we're a publicly traded company and my annual raises has always been 4-6%. Basically, I'm just above keeping up with inflation each year. Sucks, but I currently tolerate it because I like my role.
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Old 04-05-2019, 10:39 AM
 
Location: North Beach, MD on the Chesapeake
33,908 posts, read 42,165,527 times
Reputation: 43311
My last ten years my raises totalled 2.5% cumulatively between year 20 and 31. Steps above year 20 had been eliminated several years earlier. Were I not retired this would be year 36 and the cumulative would be 3% since year 20 since a 0.5% increase was granted a couple years ago.

During that same time school based and central office administrators received all their contractual raises as well as bonuses.

Last year the School Board voted down a 4% over three years raise for teachers and nonexempt staff at the same meeting raises ranging from 20% to 36% were approved for administrators up through Assistant Superintendent.


People I know working in industry, and this may be an outlier since the vast majority are government contractors, have never missed a raise or bonus, although many lost pay during the recent shutdown.

For some historical perspective, raises have never been much more than inflation across most industries unless you were promoted.
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Old 04-05-2019, 10:39 AM
 
Location: Greensboro, NC
647 posts, read 243,373 times
Reputation: 1551
At previous companies, raises were right around inflation. At my current place, they seem to give a little bit more of a raise than that.

If you're unhappy with your salary, you typically need to company-hop every 2-3 years until you get to a level you want.

Performance-based raises/bonuses are great in theory, but in practice, I notice management skews employee reviews to where everyone gets the same anyways.
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