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View Poll Results: annual raise status
No annual raises at my company (merit or COL) 8 7.92%
My company does some sort of annual raise 93 92.08%
Voters: 101. You may not vote on this poll

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  #41  
Old 01-24-2019, 03:35 PM
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Originally Posted by kimjongfun View Post
This is what I expect, should be easier to find out if they truly value you now or you should update the resume
Yep. Start negotiating soon. If you get a raise, then you have to decide whether you want to re-negotiate every year. If you don't get a raise, DFTUYR.
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  #42  
Old 01-24-2019, 03:46 PM
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Yep. Start negotiating soon. If you get a raise, then you have to decide whether you want to re-negotiate every year. If you don't get a raise, DFTUYR.
What is the upside of staying?
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  #43  
Old 01-24-2019, 03:52 PM
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What is the upside of staying?
Maybe he likes the job, or coworkers, or the location, or whatever. I see reasons to leave, but I can see why they might potentially want to stay.
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  #44  
Old 01-24-2019, 04:23 PM
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Maybe he likes the job, or coworkers, or the location, or whatever. I see reasons to leave, but I can see why they might potentially want to stay.
This form of cost cutting invariably ends with work being distributed to less people, which means working more hours (for more than likely little benefit).

It is situation where the dominant move is to leave as you will end up worse off no matter what you do if you stay.
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  #45  
Old 01-24-2019, 04:32 PM
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What is the upside of staying?
Well I'm still a student so the small annual raises that were there before have not been the biggest driver of pay growth. It's been and will be exams and exam-related promotions. Once I'm done with exams, I'll have to take a hard look
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  #46  
Old 01-24-2019, 04:39 PM
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This form of cost cutting invariably ends with work being distributed to less people, which means working more hours (for more than likely little benefit).

It is situation where the dominant move is to leave as you will end up worse off no matter what you do if you stay.
I left my first employer in large part because of pay. One actuary left before me, and then in the next six months about a fourth of the dept left. And in the wake of that, I was told that the company doled out significant raises to the actuarial depts.

So it does happen, but I agree with you in principle, this is generally bad news.
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  #47  
Old 01-24-2019, 04:47 PM
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Similar experience as GF, very large employer that would have 2-3% annual raises (plus promotions, exam, etc) and then every few years they would start to see higher turnover so they'd do a +10% "market adjustment" or something. Rinse and repeat. When I left, they were behind, and everybody was asking me on the way out if I would mention comp in my exit interview.
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  #48  
Old 01-24-2019, 05:31 PM
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On a side note, something that I hate about HR practices is that they increase their internal salary scale by 2% every year, and at the same time give 2-3% raises to the employees. Assuming company A and B both do this, someone switching jobs from company A can ask for a +15% raise to take an offer at company B, whereas someone who doesn't change jobs at company B will now be earning less than the new person from company A who won't necessarily add more value.
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  #49  
Old 01-24-2019, 06:19 PM
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everybody was asking me on the way out if I would mention comp in my exit interview.
did u
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  #50  
Old 01-24-2019, 07:17 PM
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did u
I did, but in hindsight I should have been more aggressive about it - basically I was like "lots of reasons, opportunity, location, interest in their business, and it was a nice bonus that they did pay a bit more". If I had to do it over again, I'd be more accurate, something like "I knew I could get a lot more money and had an interest in switching career path a bit as well."
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