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Annual Raise

January 14th, 2023 at 03:28 pm

I noticed that my new salary posted yesterday. It's an approximate 4% increase, though I expect to lose the 10% retention pay next month. So overall about a 6% loss, but I know that I can make my budget regardless. 

Posted in Personal Finance, Career, Professional Life | 3 Comments »

3 Responses to “Annual Raise”

  1. LuckyRobin Says:
    January 15th, 2023 at 02:03 am 1673748189
    1673748189

    Geez, you'd think they'd at least give you enough for you to break even, since that's what they've been paying you anyway. I wonder how many people they've retained will end up walking now that the retention pay is going away. Or are they contracted in for a while?

  2. terri77 Says:
    January 15th, 2023 at 01:34 pm 1673789693
    1673789693

    Back in August we were given a 16% raise based on a salary survey. They had given us a retention raise of 10% prior to that, back in February because we had lost so many people. Since we got the 16% raise we’ve been able to attract more staff. Hence the reason we’ll most likely lose the retention pay. It’s based on a formula based on our ability to hire & retain staff.

  3. rob62521 Says:
    January 15th, 2023 at 09:26 pm 1673817996
    1673817996

    That stinks that you will have a loss!

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