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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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  #51  
Old 01-25-2019, 05:46 PM
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Helena Lake Helena Lake is online now
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Originally Posted by Dr T Non-Fan View Post
There can be exceptions to rules, even blanket ones. It is likely that someone will be allowed to make an exception.

Because, better employees will leave, leaving the company worse off than before. Top management knows this, and will allow exceptions.
Not everyone is an exception.
This.

On the surface, it sounds like a horrible idea. But if the general message is "nobody gets raises", and behind the scenes it's highly discretionary, it could be a reasonably tactic for cleaning house. They'll pay to keep the best of the batch, and the people who are willing to stick around for cheap are well... cheap. So it could end up being a lot of the middle tier that leave. You know - the mediocre folks who think they're exceptional.
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  #52  
Old 01-25-2019, 06:09 PM
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Originally Posted by Helena Lake View Post
This.

On the surface, it sounds like a horrible idea. But if the general message is "nobody gets raises", and behind the scenes it's highly discretionary, it could be a reasonably tactic for cleaning house. They'll pay to keep the best of the batch, and the people who are willing to stick around for cheap are well... cheap. So it could end up being a lot of the middle tier that leave. You know - the mediocre folks who think they're exceptional.
Wouldn't it be more straightforward to just give raises to high performers, and mediocre/no raises for mediocre performers, and fire the low performers, rather than "nobody gets raises (wink wink)"?

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  #53  
Old 01-25-2019, 07:52 PM
Dr T Non-Fan Dr T Non-Fan is online now
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Originally Posted by Colonel Smoothie View Post
Wouldn't it be more straightforward to just give raises to high performers, and mediocre/no raises for mediocre performers, and fire the low performers, rather than "nobody gets raises (wink wink)"?

Yes, it would.

But, replacing employees is not as easy as it sounds. It takes up a shitload of time, time not being spent making money (if in consulting) or getting things done that have to get done which means the boss has to do it or find someone on the team to do it or hire some consultant to do it (if in insurance).
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  #54  
Old 01-26-2019, 02:46 AM
kimjongfun kimjongfun is offline
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Originally Posted by Helena Lake View Post
This.

On the surface, it sounds like a horrible idea. But if the general message is "nobody gets raises", and behind the scenes it's highly discretionary, it could be a reasonably tactic for cleaning house. They'll pay to keep the best of the batch, and the people who are willing to stick around for cheap are well... cheap. So it could end up being a lot of the middle tier that leave. You know - the mediocre folks who think they're exceptional.
I think this is the strategy they think they are executing. In reality I see very little difference amongst most of my peers. Perhaps 5-10% are better than the rest but they arent so good they can just do all the work of the rest. I dont know any current people I'd describe as poor performers so probably 90% are just average actuarial students. In the end if they do secret raises itll be the top 10% and all the people they like the most I guess
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  #55  
Old 01-26-2019, 09:06 AM
Father Flynn Father Flynn is offline
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Originally Posted by campbell View Post
I have been in a situation where I got no raise of any type for years.

Basically, everybody above a particular level got no COL raises (this is not to say our total comp was frozen -- my actual gross increased during this period -- but they wanted to have flexibility, so our increases came via bonuses), and people got promotion raises when they got promoted, and that was it.
that's how it often goes once you get above $175k base. A "cost of living increase" for highly compensated employees doesn't really make sense and instead it comes through variable bonus pay.
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  #56  
Old 01-26-2019, 09:09 AM
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Originally Posted by Colonel Smoothie View Post
I don't recommend slacking off as a passive-agressive way to deal with this, that will get you nowhere with your current company and won't help you with your external job search either.
I've seen people do this before, and it is a terrible strategy that usually backfires.
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  #57  
Old 01-26-2019, 03:46 PM
hjacjswo hjacjswo is offline
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time to gtfo and switch to data science imo
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  #58  
Old 01-28-2019, 10:35 AM
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Originally Posted by Dr T Non-Fan View Post
Yes, it would.

But, replacing employees is not as easy as it sounds. It takes up a shitload of time, time not being spent making money (if in consulting) or getting things done that have to get done which means the boss has to do it or find someone on the team to do it or hire some consultant to do it (if in insurance).
Attrition is usually easier to manage than termination. Employers always prefer people to leave "voluntarily" than to have to remove them. There's no unemployment and a lot lower likelihood of wrongful termination suits if people "elect" to leave their jobs.
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  #59  
Old 01-28-2019, 10:36 AM
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Originally Posted by kimjongfun View Post
I think this is the strategy they think they are executing. In reality I see very little difference amongst most of my peers. Perhaps 5-10% are better than the rest but they arent so good they can just do all the work of the rest. I dont know any current people I'd describe as poor performers so probably 90% are just average actuarial students. In the end if they do secret raises itll be the top 10% and all the people they like the most I guess
It's hard to find low performing actuaries & students though. While they do exist, the general level of work in actuarial and highly analytic departments tends to be a bit higher than in other areas of the company. It may not be your department they're looking to clean out.
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  #60  
Old 01-29-2019, 01:13 PM
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My company hasn't had annual raises for 10 years. You can imagine the turnover.
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