So what kind of raise did you guys get for 2021?

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stocknoob4111
Posts: 2013
Joined: Sun Jan 07, 2018 12:52 pm

Re: So what kind of raise did you guys get for 2021?

Post by stocknoob4111 »

1.5% for working part of 2020 which I am happy with. Also got a 14% bonus (annualized rate, I joined mid last year so only got half the bonus which is expected).

A nice change after a very rough 2020 for me which included a 30% pay cut and suspension of all benefits at my previous company.
Exchme
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Re: So what kind of raise did you guys get for 2021?

Post by Exchme »

No raise last year as COVID tanked the business. So far this year, COVID struggles are even worse as legacy work is ending and little new work is starting, so benefits have been cut and management is discussing large salary cuts. I gave myself a 100% salary cut and retired.
wbarabas
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Re: So what kind of raise did you guys get for 2021?

Post by wbarabas »

I'm in healthcare. We took a 2% cut.
tim1999
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Re: So what kind of raise did you guys get for 2021?

Post by tim1999 »

Aaand...it'sgone wrote: Sun Feb 21, 2021 9:31 pm
tim1999 wrote: Mon Jan 04, 2021 10:08 am I won't know for a couple months, but probably in the range of 0-2%.

I'm guessing this year's excuse will be that since we are all now working from home due to the pandemic, we are spending less money on commuting and therefore don't need raises. Last year's excuse was increasing health insurance costs paid by the company.
That would be a lame excuse. Our staff got a small bonus to help us offset the costs of working from home (higher energy bill, upgrades internet, home office furniture, etc).
I ended up getting 2%, the excuse given to me is that I am nearing the top of the salary grade for my position.

The company did have a great year due to lower expenses and record demand for our services, so our annual bonus was paid at 150% of target.
GeorgeousGordo
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Re: So what kind of raise did you guys get for 2021?

Post by GeorgeousGordo »

No raises yet, but my company did increase their contribution to benefits to 75% of premiums. That brought my 600$ monthly premium down to 260$! So I am more than happy with that.
austriak
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Re: So what kind of raise did you guys get for 2021?

Post by austriak »

3% raise, 5% bonus

I work for megacorp that wasn't too impacted by covid.
grtwallchina75
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Re: So what kind of raise did you guys get for 2021?

Post by grtwallchina75 »

9.7% salary raise (b/c of a unexpected promotion) + company wide bonus = 90% of 15% salary.
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anon_investor
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Re: So what kind of raise did you guys get for 2021?

Post by anon_investor »

3% raise (pretty standard) and 20% bonus (full target). I was pleasantly surprised. I am at a megacorp that was impacted by Covid: in 2020 raises were eliminated and certain divisions had salary reductions.
Double Chin Finn
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Joined: Sat Jun 23, 2018 2:52 am

Re: So what kind of raise did you guys get for 2021?

Post by Double Chin Finn »

I got a 2.6% raise back in September of 2020. I was pleasantly surprised, since my whole industry has been negatively affected by Covid. I hope another raise is in store for 2021.
MichiganNurse
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Re: So what kind of raise did you guys get for 2021?

Post by MichiganNurse »

0%. 2% in 2019. Hospital nurse.
bigfry
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Re: So what kind of raise did you guys get for 2021?

Post by bigfry »

5.25% during 2020. I am a unionized healthcare worker so I receive 2.25% each January for COL and 3% as a summertime merit increase.
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investingdad
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Re: So what kind of raise did you guys get for 2021?

Post by investingdad »

I’m an engineer at a mega Corp. We have not have Covid layoffs, actually been hiring. I got 2.5% and a 10% bonus to start 2021.

My wife is higher up the food chain at a medium Corp but in the financial side. She got 4.5%, 15% bonus, 20% stock.
skinsfan
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Re: So what kind of raise did you guys get for 2021?

Post by skinsfan »

4.5% raise. I just received a 10% raise in October due to a job change/promotion. I tried to get more than 10% at the time but they said no. But I think that helped me get 4.5% this year when the standard was around 2%.

Company/industry was less impacted by covid than others in 2020. We are actually seeing a lagging impact so 2021 might not be as favorable.
GG1273
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Re: So what kind of raise did you guys get for 2021?

Post by GG1273 »

8% this year and my team's bonus was 132% of target
I was a bit surprised. I decided to postpone retirement at 62 this year due to WFH (which I love) and plan to go another year.
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ClevrChico
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Re: So what kind of raise did you guys get for 2021?

Post by ClevrChico »

I was expecting a great year, but they turned out to be frozen, so 0%. Ooof
Howie
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Re: So what kind of raise did you guys get for 2021?

Post by Howie »

3% base- lump sum due to being at top of Megacorp salary band. 16% bonus.
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anon_investor
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Re: So what kind of raise did you guys get for 2021?

Post by anon_investor »

ClevrChico wrote: Sun Mar 07, 2021 8:16 am I was expecting a great year, but they turned out to be frozen, so 0%. Ooof
I feel your pain. That was me last year...
MJD
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Re: So what kind of raise did you guys get for 2021?

Post by MJD »

My company has given out raises between 1.2% and 1.6% annually as far back as I can remember, rain or shine. This year was on the upper end of that spectrum.
This type of thing doesn't come up in conversation with friends and family, so a little surprised to see a lot of responses in the 3-5% range. Good on you people!

Bonuses are always at target or above, with the GFC being the exception.
investingdad
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Re: So what kind of raise did you guys get for 2021?

Post by investingdad »

I’ll say this... the biggest factor in looking at a lack of meaningful raises or promotions is being very near to FI.

While colleagues are climbing over each other to secure the bigger bucks that come from promotions entering late middle career or early late career, our life long saving and investing right from the start has made it a non factor for me.

No raise? Meh, don’t care. No promotion because I’m not hungry enough? No worries mate, all good here already.

Save early and save often. :sharebeer
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geerhardusvos
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Re: So what kind of raise did you guys get for 2021?

Post by geerhardusvos »

2020 was a 12% raise to base salary with a promotion, and this year I got a 6% raise to base. The promotion raise was a little less than I wanted, but 6% is a little higher than the normal cost of living adjustment. I’m in a higher bonus and stock bracket now too which paid off for the first time in February. Overall, my comp meets my expectations and it’s more money than I need. Very thankful.
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bob991
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Re: So what kind of raise did you guys get for 2021?

Post by bob991 »

7.6% raise and a 14% bonus. I am fortunate to be in a business has been positively affected by covid.
txgolfer_19
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Re: So what kind of raise did you guys get for 2021?

Post by txgolfer_19 »

2.7% raise and 12% bonus for a large regional bank that had a pretty awful 2020. Raise was similar to prior year, bonus was down from 18%.
jdgamble
Posts: 21
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Re: So what kind of raise did you guys get for 2021?

Post by jdgamble »

Massive biotech:

3.5% raise (after 3.5% increase due to midyear lateral move)
Huge drop in bonus (~44% less with higher salary)
Stock allocation right around target

Not the best year, but we’ll make the mortgage payment.
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Darth Xanadu
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Re: So what kind of raise did you guys get for 2021?

Post by Darth Xanadu »

I got a 12% increase this week. It was a promotional bump, and the first increase I've seen in 3 years.

My total CAGR on total cash comp since I started at this company is just under 5%.
sambb
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Re: So what kind of raise did you guys get for 2021?

Post by sambb »

8% but irrelevant as comp is mostly bonus driven
Avolition
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Joined: Sun Mar 12, 2017 5:27 pm

Re: So what kind of raise did you guys get for 2021?

Post by Avolition »

0% for 2020. Won't know until 3rd quarter if we get anything for 2021. (Hospital)

Might get a market adjustment. Our base pay has fallen so far behind other nearby hospitals that we're nearly unable to hire for my department.
MadDwag
Posts: 33
Joined: Wed Apr 05, 2017 9:07 pm

Re: So what kind of raise did you guys get for 2021?

Post by MadDwag »

Same as 2017, 2018, 2019, & 2020—0% :annoyed

Maybe I should start seriously looking elsewhere
jharkin
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Re: So what kind of raise did you guys get for 2021?

Post by jharkin »

So let me see - this thread is really an analog for "How well did your industry weather lockdown?" right?

OK then some background... I work in high tech in a pure software development firm. Non-FAANG however, niche technical B2B domain. We had one down quarter last year (Q2) and back to continuing modest growth since.

I got 4.5% in May 2020
I just got 4% in May 2021

My increase was based on evaluations on the high side last year and even better this year... Raises starting to slow down as they tell me I am nearing the top of the range for my level. (I'm also close to the top of the IC levels)... Profit sharing bonuses where flat relative to 2019 mainly reflecting lower margins this year as we have been hiring though the downturn. Benefits, 401k match, etc all stayed as before the pandemic.

If I had to guess I'd say company floor on raises is probably about 2-3%. Anyone with an evaluation low enough not to merit that is probably being managed out.



But keep in mind this is tech, wildly different than other industries of course. Over 20% years except for a couple bad recessions years that we got nothing the lowest raise Ive ever had was about 3.5% and including promotions and bonus growth my long term income growth is close to 7% annualized.
Jack FFR1846
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Re: So what kind of raise did you guys get for 2021?

Post by Jack FFR1846 »

With Covid last year in ANTICIPATION of huge drops in business, we were all given a "voluntary" 10% pay cut. There was no way not to volunteer. We've had that recently brought back up and we were given a small number of hundreds of dollars in RSUs vesting long after I plan to retire. With the explosive take off in orders (we make chips), our sales are record every month, by a lot. Zero raise for that. I expect zero until I retire. Perhaps our 401k match will reach the absolute max for the quarter (which is 2% annual). The board has to vote on the match every quarter and it has been zero pretty often.
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Laid-Back Captain
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Re: So what kind of raise did you guys get for 2021?

Post by Laid-Back Captain »

12.9% increase due to an (unwanted) promotion into a director position. My work/life balance has taken a dive compared to previous role, so I consider the change a net negative.
“That’s just the way it is. Change is inevitable. Instead of resisting it, you’re better served simply going with the flow.”
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CyclingDuo
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Re: So what kind of raise did you guys get for 2021?

Post by CyclingDuo »

CyclingDuo wrote: Wed Dec 30, 2020 11:50 am
Cpadave wrote: Wed Dec 30, 2020 9:39 amWas is better then expected? Did employers use the economy or lower general inflation as reason to lower the your expected raise?
-me: 7.7% based on my performance review (a bit better than I expected)
-spouse: 2.5% (about normal for her annual increase)
Update: In addition to the aforementioned raises for academic calendar year 2020/2021, I received a 2021 mid-year performance boost of nearly an additional one percent (so that nets out to a 8.5% raise for 2021 during the first 9 months) and my spouse received a 4.5% raise for academic calendar year 2021/2022 (more than we were expecting). Won't know my 2021/22 calendar year boost until this Fall, but am doing my part to earn the raise.

I feel fortunate considering my former place of employment froze wages over the past few years as well as took away the 403b match.
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atdharris
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Re: So what kind of raise did you guys get for 2021?

Post by atdharris »

6.25% raise. I never know my bonus until end of the year
bwalling
Posts: 270
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Re: So what kind of raise did you guys get for 2021?

Post by bwalling »

Raise? None. I got a new sale transaction bonus agreement combined with a deferral of my annual bonus. Mixed feelings, there. A year from now should be worth it, but still don't like seeing cash comp deferred like that.
Nebraska_Drought
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Re: So what kind of raise did you guys get for 2021?

Post by Nebraska_Drought »

Work as a faculty member at our states main institution. No raises at all last year (July 2020) and this year they are minimal. I am going up for promotion for 2022 which will be a nice 15% bump, but that will be it for me in my career outside of annual merit raises. We never get a COL raise and even though my evaluations are always at the top of the scale or just below the top, I rarely get anything bigger than 2-3%. Amount of vacation and sick time received is incredible, tuition perks that anyone in my family can use, and other perks keeps me satisfied with the position. As others have said, saving early and often, and I am not fighting for every dollar in salary as I approach my 50's. Luckily, our state budget weathered the COVID storm pretty well and we have unemployment rates below 3%, so that is helping our budget situation and by law, we have to have a balanced budget for the state of NE, we can't borrow ourselves into bankruptcy like some states. Refreshing to be honest.
jharkin
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Re: So what kind of raise did you guys get for 2021?

Post by jharkin »

Nebraska_Drought wrote: Wed May 05, 2021 8:32 amby law, we have to have a balanced budget for the state of NE, we can't borrow ourselves into bankruptcy like some states. Refreshing to be honest.
Not aware of any US state that is currently in bankruptcy. Balanced budget amendments actually exist in almost every state, interestingly many stricter than NE which allows carry over deficits.....

Image
https://www.urban.org/research/publicat ... quirements
Nebraska_Drought
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Re: So what kind of raise did you guys get for 2021?

Post by Nebraska_Drought »

jharkin wrote: Wed May 05, 2021 11:20 am
Nebraska_Drought wrote: Wed May 05, 2021 8:32 amby law, we have to have a balanced budget for the state of NE, we can't borrow ourselves into bankruptcy like some states. Refreshing to be honest.
Not aware of any US state that is currently in bankruptcy. Balanced budget amendments actually exist in almost every state, interestingly many stricter than NE which allows carry over deficits.....

https://www.urban.org/research/publicat ... quirements
Yeah, none in bankruptcy right now. Unlimited deficit spending is not ideal and the piper will come calling eventually.
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8foot7
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Re: So what kind of raise did you guys get for 2021?

Post by 8foot7 »

2.5% raise, bonus of 20.9% of base salary (which was a 113% payout due to increased profitability)

Last adjustment: as a promotion, 17.3% increase, 2019
2020 - no increase and lost out on half of a virtually locked in bonus (roughly 7% of total comp expected but not received) due to shuttering a large division as a result of a significant loss.

On the bright side, we never lost our 401k match, although it is not very impressive at 2.4% -- still better than a hole in the head and I wouldn't want it to go away. And our health insurance is excellent and family premiums were not increased for two years in a row so I am still paying 2019 rates.
Last edited by 8foot7 on Wed May 05, 2021 2:30 pm, edited 1 time in total.
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Quirkz
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Re: So what kind of raise did you guys get for 2021?

Post by Quirkz »

Not exactly a raise, more of a benefit due to passing the trial service period, but I just got an additional 6.9% added to my salary. It's funneled directly into a mandatory retirement plan, so effectively a mandatory 401(k) match, but I'll take it. The funny thing is because it's tacked on directly to my paycheck and then deducted, my take-home actually went down $25 due to increased taxes somewhere else. Still a good benefit, all told.
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marti038
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Re: So what kind of raise did you guys get for 2021?

Post by marti038 »

3.6% raise plus 19% bonus.

We were negatively impacted by COVID, but management gets bigger bonuses (as a percentage of income) than rank and file guys like me so they aggressively protect the parts of our business that impact their bottom line. As a result, we drastically reduced spending in 2020 and were able to not only preserve, but increase profitability. It was one of the better bonuses I've ever gotten at my company.

I am curious to see if any consideration is given for inflation in next year's merit increase. I feel very fortunate to work where I do.
sherwink
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So what kind of raise did you guys get for 2021?

Post by sherwink »

My boss told me in the first half of 2020 I could now work from home, and he'd stop paying me.
Kaizen Soze
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Re: So what kind of raise did you guys get for 2021?

Post by Kaizen Soze »

Record profits. 0.9% raise. The rest of the industry was negatively impacted so they wanted to follow the industry trend with compensation.
H-Town
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Re: So what kind of raise did you guys get for 2021?

Post by H-Town »

In the words of Dave Ramsey: "better than I deserve". All will go to savings anyways.
khram
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Re: So what kind of raise did you guys get for 2021?

Post by khram »

1.5% base raise and the stock went up a little bit so far. I'll probably end up making 5-15% more all in all this year. But last year I made 60% more than in 2019... figure you can't expect a 60% increase every year.
Avolition
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Re: So what kind of raise did you guys get for 2021?

Post by Avolition »

jharkin wrote: Wed May 05, 2021 6:50 am So let me see - this thread is really an analog for "How well did your industry weather lockdown?" right?
Interestingly, my hospitals operating margin (or whatever its called, I'm not in financials) has exceeded target the entire time. Management proudly pats us on the back for this achievement each time they talk about how we might not get more money again this year.
jayk238
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Re: So what kind of raise did you guys get for 2021?

Post by jayk238 »

Cpadave wrote: Wed Dec 30, 2020 9:39 am Was is better then expected? Did employers use the economy or lower general inflation as reason to lower the your expected raise?
14k raise
slickracer
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Re: So what kind of raise did you guys get for 2021?

Post by slickracer »

2.5%, along with more RSUs than I was expecting.
KFBR392
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Re: So what kind of raise did you guys get for 2021?

Post by KFBR392 »

My 20% paycut that's been in place since last summer was reduced to a 10% paycut... does that count as a raise? Haha. Was due for a 7% raise but my employer voided all our contracts when we took the cut.
stimulacra
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Re: So what kind of raise did you guys get for 2021?

Post by stimulacra »

I took a 20% pay cut from May to July. No raise in 2021.

The industry I'm in was one of the harder hit.
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