Raises and Bonuses

[AndyLate]

I vaguely curious about year to year pay increases and annual bonuses across the spectrum of folks here. Now I know some of the members are highly compensated professionals, some are business owners, etc, but lots are working stiffs like me.

I work for a Space/Defense company and over the last 10 years or so our yearly salary increases averaged about 2.5% and our annual bonus around $1k per year. Of course, higher for strong performers and critical skills/roles and that does not include promotions, etc.

What do average pay increases look like with your employer? Do you get annual (or other) bonuses? What ever happened to Christmas bonuses, are they still a thing?

Andy

[One More Time]

We get bumped up every once in a while, no set time.
People seem to get a raise when they put in a two week notice though.

As a diesel tech I'm hourly but get an efficiency bonus every month if I'm over 100%
Which is 75% of our hourly wage per hour.
Works out well when you are busy but not so much these days.
Been a few times lately that I've had to run the clock out on a job as there is nothing else to clock onto and standing around on available time kills your numbers.

[chuckman]

I work for a university medical center; we usually get a merit raise of 2.5%-3%/year; right now we're getting 2% every six months for 18 months for 6%. I think it was related to some COVID staffing retention or something.

No staff-wide bonuses, profit sharing, etc. There are some recruitment-related bonuses, though....if you recruit a RN I think it's a one-time $500 or $1K, but I am not sure.

[GTF425]

Fixed 3% annual raise. Additionally, all of my continuing education and license renewals are paid for.

*I'm a flight medic

[Striker6]

Last year was a 3.5% increase with a $34,000 bonus.

[Korgs130]

Working for an airline. Last raise was 3% 3 years ago in 2020. No bonuses.

[AndyLate]

Last year was a 3.5% increase with a $34,000 bonus.

Nice. Managers and employees really don't get big bonuses in my company. I got a $7500 bonus one year, felt like a Rockefeller

Andy

[FromMyColdDeadHand]

White collar, lots of time with the manufacturing company. Got a CRAPPY raise this year. Told them that. Told them it was a pay cut after inflation. They want to see “more” out of me, I told them to get used to it. I’m out of the ‘promotion’ track officially now, and they’ll get out of me what I think they deserve. Old EU buddy has a phrase- pay peanuts, get monkeys. May sound a little bitter (a bit) but I get along with my new boss and my old boss is now Godfather, and I have a great relationship with him. I get lippy because my wife is a doc and the bread-winner. I also do a technically boring marketing job like no one else in the industry- I was called ‘insane’ and ‘brilliant’ for one last year. and I’m the only one in this kind of position in my mid sized company- even thought my troll of an ‘assistant’ keeps on trying to get other people involved. Do you remember a product presentation from your company meeting four years ago? I ‘introduced’ myself to one of our engineers recently and he said “Oh, I remember you. You gave that presentation with the My Little Pony, a horse and a stapler..”. The message, which he remembered, was that we make magical unicorns and our competitors try to staple horns onto their horses and call them unicorns.

That and our bonuses are going to suck this year because while we couldn’t fill orders in Q1-3, Q4 was slow…

Wow, thanks for letting me vent… didn’t see that coming.

[RugerMKII]

I work for a liquid chemical trucking company. If all goes right, I will retire this fall. Most years it was a standard 3 - 5% raise with occasional bonuses (paid quarterly). Last four years bonuses have totaled 8 - 12 K a year. It all depends on our ROI percentage. One year we exceeded our budget by 20 M. A lot of back slapping going on then.
January this year has slowed down a little. New people (5 years or less are worried) because all they have seen is good times. We still made more money than January 2022. Just didn't make budget.

[Coal Dragger]

Railroad engineer.

New contract as of December 2022, retroactive raises and back pay.

2020: 3.0% raise.
2021: 3.5% raise.
2022: 7.0% raise.
2023: 4.0% raise.
2024: 4.5% raise.

Raises applied each year on July 1.

My road has profit sharing. Most years it comes out to roughly the same net pay as a normal pay period.