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

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

Post by Cpadave »

Was is better then expected? Did employers use the economy or lower general inflation as reason to lower the your expected raise?
yoga
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Re: So what kind of raise did you guys get for 2021?

Post by yoga »

We don't get our 2020 performance results until March, so no idea yet.
BuckyBadger
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Re: So what kind of raise did you guys get for 2021?

Post by BuckyBadger »

Due to Covid, we did not get any raises or COL adjustments in July 2020 like we usually do. 403b match was also suspended for 12 months. Things have improved to the point that we will get 2.5% COL increase in January 2021, but match will still not resume until July 2021. I'm hopeful that merit and COL increases will be reviewed again in July 2021 as usual.
dalbright
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Re: So what kind of raise did you guys get for 2021?

Post by dalbright »

Nada...company nixed raises which were minimal (1-2%) in prior years and still have yet to reinstate 401k match. No guidance given for addressing this going forward.
Jags4186
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Re: So what kind of raise did you guys get for 2021?

Post by Jags4186 »

We have performance reviews in July with raises in effect August. I received 4.5% in August, then a promotion and an additional 7.5% in December.

Curious what the rubric will be for next July, typically its based on your performance evaluation out of 5 and for the past 4 years it hasn’t changed.

1: 0%
2: 1-2%
3: 2-3%
4: 3-4%
5: 4%+
mak1277
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Re: So what kind of raise did you guys get for 2021?

Post by mak1277 »

yoga wrote: Wed Dec 30, 2020 9:42 am We don't get our 2020 performance results until March, so no idea yet.
Same here.

I'm expecting between 2.5 - 3%, no different than normal.
coupleofcents
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Re: So what kind of raise did you guys get for 2021?

Post by coupleofcents »

Got mine yesterday. 4.00%
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Tim_in_GA
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Re: So what kind of raise did you guys get for 2021?

Post by Tim_in_GA »

No raise in 2020 and won’t know the 2021 merit increase until around March.
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Makaveli
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Re: So what kind of raise did you guys get for 2021?

Post by Makaveli »

Nothing for 2019 and 2020, welcome to the private equity world.
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fizxman
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Re: So what kind of raise did you guys get for 2021?

Post by fizxman »

For 2020, I had a 65% decrease to a 326% increase. Employed to unemployment insurance to the highest paying job in my life. I started this new job in early December so I won't be getting a raise in 2021 but I'll just think of it as getting a raise a month early.
Ramjet
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Re: So what kind of raise did you guys get for 2021?

Post by Ramjet »

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?
City Govt. and a surprising 4% but with future prospect of raises pretty muted
VT & HFEA
MDfan
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Re: So what kind of raise did you guys get for 2021?

Post by MDfan »

Fed hoping for 1%.
new2bogle
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Re: So what kind of raise did you guys get for 2021?

Post by new2bogle »

5.1% at Megacorp.
simas
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Re: So what kind of raise did you guys get for 2021?

Post by simas »

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?
unknown. Would see it in paycheck second half of Jan. likely in 1-2% range
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bengal22
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Re: So what kind of raise did you guys get for 2021?

Post by bengal22 »

My raise goes to medicare increase. Zero sum game.
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bob60014
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Re: So what kind of raise did you guys get for 2021?

Post by bob60014 »

Less than I asked for, more than I deserve! :)
kinless
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Re: So what kind of raise did you guys get for 2021?

Post by kinless »

Received a 3% bump this week, effective 1/1/2021. Coupled with my (2nd) refinance that starts the same day, it’s about a $250/month net gain overall. Definitely loosens the noose a bit.
Tingting1013
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Re: So what kind of raise did you guys get for 2021?

Post by Tingting1013 »

My compensation is primarily driven by our stock performance.

12 months ago my compensation outlook for 2020 was $300k if the stock price stayed flat. Due to COVID, I ended up making $400k. Right now my outlook for 2021 is $520k, again assuming a flat stock price. We’ll see what happens.
Last edited by Tingting1013 on Wed Dec 30, 2020 10:36 am, edited 1 time in total.
Exchme
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Re: So what kind of raise did you guys get for 2021?

Post by Exchme »

Let's see. No raises, they took away 3 vacation days, they stopped the company match on 401Ks partway through the year, the bonus received this year but supposed to be based on 2019 was cut 15%, so overall I'd say -8%. But I'm still working while 70% of the folks that were with the company a year ago have been let go due to the COVID Depression, so there's that.
stoptothink
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Re: So what kind of raise did you guys get for 2021?

Post by stoptothink »

I'll find out tomorrow. Annual raises over the last 5yrs (since I left public sector for a private industry company) have averaged ~12%/yr, but I am expecting much less this year. It's been a weird year; the C-level exec I formerly answered to got the axe in October, there was a huge reorganization and I transitioned from senior director back to an individual contributor (same company, totally new department). Nothing to do with my performance (I got the highest possible score), but with all the change I didn't know if I'd get a bonus (I did, but about half what it was last year) and my new payband is a mystery. I'll be pleasantly surprised with 5%, but not shocked if it is 0%.
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SmileyFace
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Re: So what kind of raise did you guys get for 2021?

Post by SmileyFace »

I work for a mid-size company and it appears I will be getting a measly 1.5% budget. I will give top talent/most-underpaid/most-at-risk folks around 3% to 5% and others will have to do without.
We just recently brought employees back to 100% pay (we were on a 20% salary reduction due to COVID since April) so many are simply counting their blessings by being back to the salaries they started 2020 with.
Last edited by SmileyFace on Wed Dec 30, 2020 10:41 am, edited 1 time in total.
HDub
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Re: So what kind of raise did you guys get for 2021?

Post by HDub »

3.4% on base salary.
AB609
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Re: So what kind of raise did you guys get for 2021?

Post by AB609 »

No raise in 2020 and doubtful for 2021. Typically get 15% bonus in the spring but I think that is highly doubtful. I went backwards on total compensation last year due to 1 week furlough. Company cut about 30% of the workforce, so I feel fortunate to have a job. On the positive side, the company is pivoting more towards the products area I work in so I'm hopeful the situation will improve.
B3GINN3R
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Re: So what kind of raise did you guys get for 2021?

Post by B3GINN3R »

All in, 15% raise.
flyingcows
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Re: So what kind of raise did you guys get for 2021?

Post by flyingcows »

Just got an 8% raise for 2021, however I also resigned shortly after so I will only see it on my final paycheck

Starting a new job in Jan with a 30% increase in TC over the last job, however I switched jobs primarily for better work life balance and switching back to being an IC from a management role which I was not a fan of, extra money is just icing on the cake
Silverado
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Re: So what kind of raise did you guys get for 2021?

Post by Silverado »

Yikes, there’s some large raises being reported here. I would faint with anything >3%.

Megacorp, would expect about 1.25%, same as most years. We also know our bonuses will decrease due to a large increase in targets.

No big deal really, it’s getting close to being icing for us.
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rob
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Re: So what kind of raise did you guys get for 2021?

Post by rob »

Took a reasonable cut to swap roles but with better outlook.... sometimes to go forward you go back a bit...
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fortunefavored
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Re: So what kind of raise did you guys get for 2021?

Post by fortunefavored »

In the midst of all time profits, the megacorp I work for has decided to do-away with raises. The only way to get increases is promotions or if you are unbalanced for other reasons (gender, geography, etc)

They have decided to use stock and bonuses as the primary compensation adjustment. But I expect this to be quite traumatic to individuals expecting a "standard" 1 to 3% yearly increase.

I am not sure if this will be an industry trend or just a unique decision. I hope it doesn't catch on. I hate variable compensation tied to things far out of the control of individuals.
Broken Man 1999
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Re: So what kind of raise did you guys get for 2021?

Post by Broken Man 1999 »

According to our Social Security COLA info we received a 1.3% increase.

After adjustment for Medicare, I received an increase of $28/month, DW received increase of $12/month, compared to 2020.

Broken Man 1999
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ClevrChico
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Re: So what kind of raise did you guys get for 2021?

Post by ClevrChico »

Estimating around 8% with a promotion and equity increase at Megacorp in tech. Normal is 2%-3%, so it will be a rare year.
60B4E24B
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Re: So what kind of raise did you guys get for 2021?

Post by 60B4E24B »

Software Engineer at a quantitative hedge fund. Looks like I'll be up around 40%, which is obviously much better than expected. Will get my final numbers in Jan.
LPSpecial
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Re: So what kind of raise did you guys get for 2021?

Post by LPSpecial »

0% raise this year. I'm thankful that our pay wasn't cut. The future looks bright but this year company revenue is way down.
livesoft
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Re: So what kind of raise did you guys get for 2021?

Post by livesoft »

No raise. I had no earned income in 2020 due to Covid-19 and cannot even contribute to my 401(k) plan. 2021 might be the same.
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Quirkz
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Re: So what kind of raise did you guys get for 2021?

Post by Quirkz »

The job I had at the beginning of the year put in a salary freeze one week before my annual review, so I got nothing.

Then I took a new job. On paper it was a 5% pay cut from base salary with a 20%+ cost of living decrease, so supposedly a pretty large gain ... not counting the extremely generous bonus the old job frequently paid. I was expecting a terrible bonus anyway, but I've been told it was surprisingly strong, and meanwhile the cost of living in my new location is slightly lower, but not as dramatically low as expected. So I may have taken a 30% pay cut?

But! Seven days into my new job I got a pre-arranged cost of living adjustment of 1.7%, so there's that.

There's also a pension now, which I don't know how to count at all, but could easily make up for half of that pay cut. It's just in a form I won't see for a few decades.
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CyclingDuo
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Re: So what kind of raise did you guys get for 2021?

Post by CyclingDuo »

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)
Last edited by CyclingDuo on Wed Dec 30, 2020 11:54 am, edited 1 time in total.
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Afty
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Re: So what kind of raise did you guys get for 2021?

Post by Afty »

I'm a software engineer at a FAANG company. I got 11% this year, but this is after 3 consecutive years of flat compensation despite a promotion and increasing performance ratings. Early last year I made the case to my manager that I should get a significant raise this year, and he came through for me.
Sic Vis Pacem
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Re: So what kind of raise did you guys get for 2021?

Post by Sic Vis Pacem »

Enough to keep me from looking elsewhere.
bugleheadd
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Re: So what kind of raise did you guys get for 2021?

Post by bugleheadd »

3% raises each year for 2019 and 2020.
Tingting1013
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Re: So what kind of raise did you guys get for 2021?

Post by Tingting1013 »

Afty wrote: Wed Dec 30, 2020 11:54 am I'm a software engineer at a FAANG company. I got 11% this year, but this is after 3 consecutive years of flat compensation despite a promotion and increasing performance ratings. Early last year I made the case to my manager that I should get a significant raise this year, and he came through for me.
Three years of flat compensation at FAANG? The stock alone should have at least doubled
Afty
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Re: So what kind of raise did you guys get for 2021?

Post by Afty »

Tingting1013 wrote: Wed Dec 30, 2020 11:55 am
Afty wrote: Wed Dec 30, 2020 11:54 am I'm a software engineer at a FAANG company. I got 11% this year, but this is after 3 consecutive years of flat compensation despite a promotion and increasing performance ratings. Early last year I made the case to my manager that I should get a significant raise this year, and he came through for me.
Three years of flat compensation at FAANG? The stock alone should have at least doubled
I'm not sure how people are reporting their compensation. I'm talking about salary + bonus + granted equity (not value at vest). Actual cashflow has significantly increased over the past 3 years thanks to vesting and the vagaries of the stock market.
Tingting1013
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Re: So what kind of raise did you guys get for 2021?

Post by Tingting1013 »

Afty wrote: Wed Dec 30, 2020 11:57 am
Tingting1013 wrote: Wed Dec 30, 2020 11:55 am
Afty wrote: Wed Dec 30, 2020 11:54 am I'm a software engineer at a FAANG company. I got 11% this year, but this is after 3 consecutive years of flat compensation despite a promotion and increasing performance ratings. Early last year I made the case to my manager that I should get a significant raise this year, and he came through for me.
Three years of flat compensation at FAANG? The stock alone should have at least doubled
I'm not sure how people are reporting their compensation. I'm talking about salary + bonus + granted equity (not value at vest). Actual cashflow has significantly increased over the past 3 years thanks to vesting and the vagaries of the stock market.
RSU value at vest is kind of the whole point. You pay taxes on it so it’s the value that matters.

If the stock were to plummet would you still value it using grant price?
Last edited by Tingting1013 on Wed Dec 30, 2020 12:04 pm, edited 4 times in total.
Thegame14
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Re: So what kind of raise did you guys get for 2021?

Post by Thegame14 »

none, just hoping to get a job next week.....
JD2775
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Re: So what kind of raise did you guys get for 2021?

Post by JD2775 »

wow the raise %'s are all over the map in these replies...

I won't know until March but I am not expecting more than 3%. I am just glad they are still matching with the 401k at the megacorp I am at currently
Beehave
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Re: So what kind of raise did you guys get for 2021?

Post by Beehave »

Retired, working part-time as adjunct professor. The one and a half percent raise offer we rejected last May was rescinded and now there's zero percent on the table with some job cuts. The job cuts will be amplified relative to Covid pandemic-related decreases in enrollment because full-timers are protected. So there will be a zero percent raise in 2021.
Afty
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Re: So what kind of raise did you guys get for 2021?

Post by Afty »

Tingting1013 wrote: Wed Dec 30, 2020 11:58 am
Afty wrote: Wed Dec 30, 2020 11:57 am
Tingting1013 wrote: Wed Dec 30, 2020 11:55 am
Afty wrote: Wed Dec 30, 2020 11:54 am I'm a software engineer at a FAANG company. I got 11% this year, but this is after 3 consecutive years of flat compensation despite a promotion and increasing performance ratings. Early last year I made the case to my manager that I should get a significant raise this year, and he came through for me.
Three years of flat compensation at FAANG? The stock alone should have at least doubled
I'm not sure how people are reporting their compensation. I'm talking about salary + bonus + granted equity (not value at vest). Actual cashflow has significantly increased over the past 3 years thanks to vesting and the vagaries of the stock market.
RSU value at vest is kind of the whole point. You pay taxes on it so it’s the value that matters.

If the stock were to plummet would you still value it using grant price?
Then how do you evaluate your raise for 2021 since none of the new equity has vested yet? Maybe I was unclear. The number I reported above was 2021 salary + bonus + new equity grant. My cashflow for 2021 will be dependent on both the stock price and my equity grants from the past 4 years. Where I work (and I think this is typical), we get a new equity grant each year that vests over 4 years. So my actual cashflow in 2021 will somewhat depend on my performance in 2017.
Tingting1013
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Re: So what kind of raise did you guys get for 2021?

Post by Tingting1013 »

Afty wrote: Wed Dec 30, 2020 12:03 pm
Tingting1013 wrote: Wed Dec 30, 2020 11:58 am
Afty wrote: Wed Dec 30, 2020 11:57 am
Tingting1013 wrote: Wed Dec 30, 2020 11:55 am
Afty wrote: Wed Dec 30, 2020 11:54 am I'm a software engineer at a FAANG company. I got 11% this year, but this is after 3 consecutive years of flat compensation despite a promotion and increasing performance ratings. Early last year I made the case to my manager that I should get a significant raise this year, and he came through for me.
Three years of flat compensation at FAANG? The stock alone should have at least doubled
I'm not sure how people are reporting their compensation. I'm talking about salary + bonus + granted equity (not value at vest). Actual cashflow has significantly increased over the past 3 years thanks to vesting and the vagaries of the stock market.
RSU value at vest is kind of the whole point. You pay taxes on it so it’s the value that matters.

If the stock were to plummet would you still value it using grant price?
Then how do you evaluate your raise for 2021 since none of the new equity has vested yet? Maybe I was unclear. The number I reported above was 2021 salary + bonus + new equity grant. My cashflow for 2021 will be dependent on both the stock price and my equity grants from the past 4 years. Where I work (and I think this is typical), we get a new equity grant each year that vests over 4 years. So my actual cashflow in 2021 will somewhat depend on my performance in 2017.
We work in an industry where you don’t know your “raise” until after the year is over. Similar to sales or investment banking or any other variable-compensation-heavy role. Sure you can report that you’re getting a 3% COLA like everyone else here, but that is a rather pointless statistic when base salary represents less than half of your total compensation.

I would be curious to know what your “cash flow” trajectory was during a period of no granted increases.
Last edited by Tingting1013 on Wed Dec 30, 2020 12:08 pm, edited 1 time in total.
mw1739
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Re: So what kind of raise did you guys get for 2021?

Post by mw1739 »

Promotion in May was a 10% bump. Performance review this month added another 4.7%. Expecting a lower 3-4% for 2021.
MathWizard
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Re: So what kind of raise did you guys get for 2021?

Post by MathWizard »

No raises all around for the last 2 years.

Told to expect budget cuts for the next 2 years.

My group is generating increased revenue every year (above inflation),
but I am not allowed to reward my employees. I'm trying my best to
keep morale high, by being flexible with working hours since some have kids
who are bouncing between virtual and in-person.

Fortunately, I was able to get my group a bit ahead based on our efforts,
but a change 3 years ago at the top 3 and the VP whom I report to, and who reports directly to the
president has changed things from one of growth in revenue to a sinking revenue
(outside of my unit and the units that work with me.)

I'm near the end of my career, or I would be looking elsewhere.
matti
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Re: So what kind of raise did you guys get for 2021?

Post by matti »

I got ~1.7% cut from July 2020 through June 2021 as a cost-saving measure by my employer (a large, public research university). (I suspect the cut will continue beyond that, but who knows?) I did get an extra 2.5 days of vacation, however.
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Garco
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Re: So what kind of raise did you guys get for 2021?

Post by Garco »

I'm raiseproof -- retired. But my tax-deferred investments grew a lot in the past year. Though aided somewhat by the small increment in the RMD percentage, the market has contributed more to my mandated monthly income than the RMD percentage increment.
Last edited by Garco on Wed Dec 30, 2020 12:29 pm, edited 1 time in total.
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