Anyone getting raises / bonuses in this economy?


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eHA_Admin_Lori is offline eHA_Admin_Lori — Advice Official Moderator Post #1  July 6,2009, 3:13pm
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I'm wondering to what extent the bad economy is effecting your raises and bonuses. Are you still seeing financial (or other) perks from your company, or are you just grateful to have a job?
 
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VB_Girl is offline VB_Girl Post #2  July 8,2009, 6:41pm
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No raise this year and bonus potential is still an open issue ... here's hoping
 
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brneyedangel is offline brneyedangel — Advice Member-Moderator Post #3  July 8,2009, 7:20pm
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A raise, yes (teachers don't get bonuses where I work), but next year is the last year of a 3 year contract, so who knows what the future holds? Our administration has indicated that we shouldn't hold our breath for more than cost of living increase +2% in each year of our next 3 year contract, but I don't think we'll even get that when it comes down to negotiating in the fall. I've negotiated enough times to know when they mean it, when they really aren't sure, and when they're yanking our collective chain, so to speak, and I just don't think they're very sure of anything right now.

At this point, I'm just very happy to still have a job after seeing so many of my friends lose theirs this year.
 
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Wootz is offline Wootz Post #4  July 8,2009, 7:50pm
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I work in an oddball factory that actualy does better when the economy falls. We've picked up a new company, and moved it into our existing location. Due to the elasticity of sales->stock->manufacturing, we are just now picking up speed. Last year I got no bonus, but a merit raise (it was my first full year on the job). Also, no Christmas bonus last year. Got a bonus this year about end of first quarter- it was about 1/4 my normal bimonthly check.

Given the economy, though, our factory is a lot pickier about employees. It can afford to drop people for as little as two missed working days- for whatever reason. There are a lot of people looking for work- see that as a line of people behind you every day you go in, waiting on you to screw up so they can take your job. It is stressful.

But overall, our quarterly profits are up. Sales are increasing and projected sales rise steadily 'til the end of the year. My job is stable right now, but many of my friends and family are unemployed- I'm helping support my parents who are both out of work (mom teaches, dad's factory folded after about forty years in the area). In turn, we both help out my grandparents whose medical bills are insane. And then there's my godson to consider...

So much need, so little to fill that need. All we can do is do our best. But that's worked well for my family so far. *grin*
 
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meri75 is offline meri75 Post #5  August 20,2009, 4:43pm
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Yes to both.

Raise - some of our staff have a contracted raise of 2% P.A.

Bonus - our company sets deliverable targets each FY. If those targets are met, or exceeded, they have a sliding scale as to percentage of your salary you are paid as a bonus.

Shares - we are each given around 300-400 shares annually and if still employed in three years, you can opt to hold the shares or sell them.

No idea if any of these will continue in the new company .. as far I can determine, the above don't appear to be the norm in the rest of my industry.
 
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notyet is offline notyet Post #6  August 20,2009, 5:51pm
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anticipates

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JerryC is offline JerryC Post #7  August 20,2009, 8:27pm
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I know I'll get a raise the first of the year. It was 3.4% last year. Hopefully, it will be the same for next year. I already received a "sustained performance award" this year. Which after taxes, added an extra grand to my paycheck. My supervisor told me to check my pay stub this week to see if I got anything extra. He put me in for some sort of "on the spot" award that may be worth a couple of hundred dollars extra, whenever it shows up.
My job is secure. I've been there almost 30 years, 12 in my current position. I may work another 4 or 5 years. The economy doesn't really impact it that much.
 
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CreolePrincess is offline CreolePrincess Post #8  August 23,2009, 9:39am
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Years before the recession began, the place where I work stopped giving routine promotions. For example, it used to be that if people worked for two years and performed well, they would get a title and salary promotion. Although during interviews employees are regularly told that they will have the opprotunity to advance, it isn't true. In fact, many vew employees are made many verbal promises they later learn isn't true after they've quit their other job.

Bonuses have never been given. We don't even get a Christmas turkey or a greeting card.

However, there are a select few of people who are related to administrators who are having jobs created for them with big fancy paychecks to go along with them. These jobs are desk jobs, that if at any given time of the day, you'll find these workers lounging around telling jokes. The bad part is that the company keeps saying that other departments must work short or do double the work with no extra pay, because there is no money. Yet, there are dozens of people who do nothing. It is exactly this kind of mismanagement of money with the creation of these bogus jobs that has helped get the country where it is today. Some of those high paid created jobs could be cut and the money divided to pay boost other salaries. It's a shame that more than 25% of the company employees are getting some type of govermental assistance, when a simple moving people around and incorporating time management, recycling, and conservation of materials could really save a lot of money and help so many people. But that's another thread all together.
 
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legend29 is offline legend29 Post #9  August 23,2009, 10:06am
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brneyedangel wrote :
A raise, yes (teachers don't get bonuses where I work), but next year is the last year of a 3 year contract, so who knows what the future holds? Our administration has indicated that we shouldn't hold our breath for more than cost of living increase +2% in each year of our next 3 year contract, but I don't think we'll even get that when it comes down to negotiating in the fall. I've negotiated enough times to know when they mean it, when they really aren't sure, and when they're yanking our collective chain, so to speak, and I just don't think they're very sure of anything right now.

At this point, I'm just very happy to still have a job after seeing so many of my friends lose theirs this year.
From one teacher to another...^5

I could care less about the 5% raise we get this year...just happy to be employed and still have all my vacations in place.

Mayor Bloomberg threatened to have us work longer hours without pay....and mostly all stakeholders in the education syatem here in NYC are up in arms about teacher tenure...but all I care about is that I have a job to come back to in September (I hope!).

Salaries are really high here for teachers, and most school prinicpals are trying to shave the cream from the top. Though I have only worked 5 years in the NYC system, I have an acquired total amount of teaching at ten years, but with the two Masters degrees and doctorate, I have the salary of a 15yr teacher, which would make me a target for down-sizing.

I am holding my breath until Sept. 8th....just don't want to walk into the school and find that I have been excessed due to the budget...argh!!!!!!!

That is why I went for my Ed.D....so that I won't have to worry about having a boss, or having someone look at my salary and say "hmmmmm"...then boot me!
 
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landstar59 is offline landstar59 Post #10  August 24,2009, 8:43am
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I recently got a raise but it came with added responsibilites. I still appreciate it though.
 
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