I just got my 2nd yearly raise after being in my current position for 1.5 years. The first one last year a very small prorated bump that was well under $1000, so I didn't really pay much attention to it. This year, however, I received different type of bump in pay. I was told it was performance based and higher than normal. Needless to say, I'm pretty happy with it. My intention isn't to brag or boast... Mainly I just want to ask: What is the average benchmark that some of you guys have seen in your careers, as far as annual raises are concerned? I know that it def varies by industry and trade, but my slightly educated guess would be 2-3%, no? Also, what would you consider a "big" raise, without changing companies and/or job titles. By the way, I work in HR in the Petrochemical Refining Industry.
Im actually interested in this since I started at my job in January and this is my first job after college.
I would have to say that it 100% depends on the job. I also work in the Petrochemical Industry and I've had from 5% all the way up to 25%, but for some places the raise depends solely on the amount of company profit, as others it depends on your individual performance. Or in some cases it may be contractual, "If you stay here X amount of years, we'll give you a raise of X% every year". I guess to sum it up it depends on where you work, industry and company wise....sorry couldn't really be of much help.
I used to work for a well known cancer center in Houston and its raises/"merits" were between 2%-5% depending on the director of the department. Of course, this was at a job that was no where near six figures so I'm guessing those higher execs/directors might receive more? The current hospital I work at it's 3% across the board.
Glad you brought it up. I had never thought about it in terms of raises because I've had big jumps in some years while changing jobs and just normal raises in years I've stayed. I've had years (earlier on) when I doubled my income and years where I lost my job and had to take a pay cut. I've worked in IT for about 16 years and after averaging out my raises on a spreadsheet, it's come out that I've had a 13% raise year after year for those 16 years. That's pretty damn good. Hehe.
Where I work you get a 6-8% raise when you meet expectations, and about 70% of employees fall under "meets expectations" so that's what I always get. Also get a 7% bonus for "meets expectations." I don't know if that's good or bad, but it's far better than a previous job where I was paid $11.50/hour and was given a 2 cent raise after being there for a year. I honestly thought it was a joke when my manager told me.
We used to get a 3% to 6% raise every year (depending on job performance) but this year we switched to bonuses instead of raises. It's a tricky way to pay less because raises compound annually and bonuses don't. I guess I can't complain because some companies don't do either. I was lucky enough to get a raise AND a bonus last year because of a big promotion. This year I won't get a raise and my bonus won't be much because, now that I'm in a new position, I'm at the bottom of the pecking order again. But it's the bottom of a higher-paying pecking order, so again....I guess I shouldn't complain. Lot's of people out there are out of work and struggling, so I feel like a boob for complaining.
If I get more than 3 percent these days, I'm pretty happy. I'm on the upper end of the pay scale for my job.
I too work in the petrochemical field (although many here already know that). Been here 20 years, and usually get about 5% a year, plus a bonus that ranges from 9-13% of base.
In my four years at the job I am bout to leave, I've averaged a little under 8% raises. But it ranged from 0% all the way to 17%. Just depends on how the company is performing and the "market" data they get from similar companies/their competition.
I've been at my current company since January 2012 (my first "real" job). I received a 6% raise after 6 months, then a promotion that got me 18% last month. It's nice to have as I wasn't started out too high on the pay scale, but it seems that the company appreciates hard work (although it sometimes doesn't feel like it). It seems like the "norm" is a 3-5% annual raise with an annual bonus (5-30%) as well. I work for an O&G company headquartered in Houston.
I am transfering into a new position and have a meeting with HR tomorrow. I am hoping to get a 5-10% increase in salary. Wish me luck!
I've gotten no raise up to about 3.5%. I've gotten no raise twice, actually. I thought it was nice(pay wise) to work in the medical field, before I actually went into the medical field.
I got a 3% raise after 6 months and another 10% after evaluations another 6 months later. I applied for an internal transfer this month and my boss freaked. I had the department VP court me and now I set myself up for at least a 15% pay raise with a new job title in a position I essentially created for myself. It'll be my 2 year anniversary next month. Feeling pretty good.
