Shit ... I got a raise yesterday!

[albireo13]

Damn, I got a raise.

My job has been driving me nuts at MegaCorp and I have been relishing the opportunity to retire within a year.
Now they go ahead and give me a raise, along with the annual bonus.
It's making it harder to walk away from the cash flow.  At this point I'm overpaid for my position (and my manager has told me so) but, they can't afford for me to walk.
Too much inner knowledge of the ancient tribal technology which lies at the heart of a huge "Borg mother ship" of documentation.

I think that they are actually consciously being free with raises lately because they see a bunch of experienced engineers retire, or quit, last year.
I think upper management is starting to break out in a cold sweat. 

I envision 5 managers for every worker-bee within a year.  Every individual contributor will be "matrix-managed" until their efficiency drops to < 5%.
That's ok, management will still be cranking out awesome looking Powerpoint documents and spreadsheet schedules!

[okits]

Umm...  Congratulations?

Too much inner knowledge of the ancient tribal technology which lies at the heart of a huge "Borg mother ship" of documentation.

Tell them you're quitting to become a writer. 

[big_slacker]

If you have the means to retire I don't see how getting a raise means anything? Unless you just mean it's allowing you to pile up a nicer cushion. Since your job hasn't changed and it's presumably steady just ride it out for now and pile up $$. You might start cultivating a side biz you can do part time and use that when you're ready to transition to give you more comfort with still have cash flow coming in.

[2Cent]

How about quitting and letting them know you're available as a consultant. That way you might be able to only do the tribal stuff part time and still get the same money.

[albireo13]

Actually, it will help us pay off some small debts faster before I retire  (car loans).

[BTDretire]

You might write a book of the  "inner knowledge and the ancient tribal technology which lies at the heart of a huge "Borg mother ship" of documentation.
 When/if you decide to retire you can teach two of the other emloyees from your book, or just sell the book to the company. Or teach others, keeping the book under cover, then at leaving time, sell the book to the company.
  You might even negotiate another raise to disseminate your knowledge.
Write the book on your own time!

[jim555]

Golden handcuffs strike again.

[big_slacker]

Actually, it will help us pay off some small debts faster before I retire  (car loans).

Seems like a no brainer then. Stay until you pay your car loans off and then leave.

[trollwithamustache]

can you become a consultant? It can be tough to sell this the right way if a part timer goes against the company culture.

But, it can make you "cheaper" even as your rate gets higher because your hours become a cost to a project and not part of headcount costs. And it can get you to part time in a company that won't otherwise do it.  Then you could have both freetime and cashflow.

[MrThatsDifferent]

Congrats. Now you can update your ticker and fire sooner than later. A raise and bonus doesn’t obligate you to stay longer. I’d take it, then quit ahead of schedule and if you want more money tell them you’ll consult for 2 days a week working remotely and only reporting to the most senior person you like the best. Then leave it to them.

[mm1970]

Damn, I got a raise.

My job has been driving me nuts at MegaCorp and I have been relishing the opportunity to retire within a year.
Now they go ahead and give me a raise, along with the annual bonus.
It's making it harder to walk away from the cash flow.  At this point I'm overpaid for my position (and my manager has told me so) but, they can't afford for me to walk.
Too much inner knowledge of the ancient tribal technology which lies at the heart of a huge "Borg mother ship" of documentation.

I think that they are actually consciously being free with raises lately because they see a bunch of experienced engineers retire, or quit, last year.
I think upper management is starting to break out in a cold sweat. 

I envision 5 managers for every worker-bee within a year.  Every individual contributor will be "matrix-managed" until their efficiency drops to < 5%.
That's ok, management will still be cranking out awesome looking Powerpoint documents and spreadsheet schedules!

This is really sad, but I think you just described my job.  I recently got a promotion and raise to "Program Manager", except...I don't really manage any programs, I seem to just herd cats.

all the cats outrank me (Directors and VPs), and I essentially work for 5 people.

hmm

[Arbitrage]

No raise here, but my wife got a raise last week!  Amounts to about $300/month after taxes.  Time for some savings creep!

Currently booking it as:
$100/month toward mortgage principal
$100/month into taxable investment account
$100/month for the time being is being kept for inflation adjustments, since I haven't received a merit increase (read: cost-of-living adjustment) this year due to protracted negotiations, and it's looking increasingly likely that COLA won't be coming at all.

If our personal inflation ends up being lower, then hopefully more of it will go into investments. 

Looking forward to more savings creep later this year:
Child care costs will drop modestly in July, then significantly more in September. 
Commuting/auto costs should drop in July as I switch to my e-bike. 
Hopefully can come up with more!

[SachaFiscal]

I got a big raise, stock that would vest in subsequent years, 401k match, then lastly a bonus the last year I worked at my company.  I gave notice a couple weeks after I got the bonus. I don't regret leaving one bit.  I'm the happiest I've ever been in my adult life. Unless you love your job or don't have anything better to do in retirement, just leave already. You aren't gonna get more points in heaven for staying longer and working harder.

[dandarc]

At this point I'm overpaid for my position (and my manager has told me so) but, they can't afford for me to walk.

This doesn't jive.  If they can't afford for you to walk, then if anything, you're underpaid, not overpaid.

[albireo13]

At this point I'm overpaid for my position (and my manager has told me so) but, they can't afford for me to walk.

This doesn't jive.  If they can't afford for you to walk, then if anything, you're underpaid, not overpaid.

  I am at the flat part of my pay scale and shouldn't expect raises at this point.   The project I am on is high profile and somewhat "hot" so, I am safe until this finishes in a year or two .... about time for me to pull the plug.

[albireo13]

Golden handcuffs strike again.

More like addictive laxatives!

[Gone_Hiking]

Are the reasons you want to FIRE still there?  More money won't fix them.  Enjoy the extra compensation and rest assured that the effect of the raise will wear off with time and you will be as ready to FIRE as you were yesterday.

[SustainableStache]

Damn, I got a raise.

My job has been driving me nuts at MegaCorp and I have been relishing the opportunity to retire within a year.
Now they go ahead and give me a raise, along with the annual bonus.
It's making it harder to walk away from the cash flow.  At this point I'm overpaid for my position (and my manager has told me so) but, they can't afford for me to walk.
Too much inner knowledge of the ancient tribal technology which lies at the heart of a huge "Borg mother ship" of documentation.

I think that they are actually consciously being free with raises lately because they see a bunch of experienced engineers retire, or quit, last year.
I think upper management is starting to break out in a cold sweat. 

I envision 5 managers for every worker-bee within a year.  Every individual contributor will be "matrix-managed" until their efficiency drops to < 5%.
That's ok, management will still be cranking out awesome looking Powerpoint documents and spreadsheet schedules!

This is really sad, but I think you just described my job.  I recently got a promotion and raise to "Program Manager", except...I don't really manage any programs, I seem to just herd cats.

all the cats outrank me (Directors and VPs), and I essentially work for 5 people.

hmm

Same here. It's oddly reassuring to know I'm not alone.

[Dicey]

Lol, DH came home with similar "bad news" today. Later this month, he will get a 4% raise, retroactive to April 1, 2017. Then on April 1, 2018 (no foolin') he will get another 4.3% raise. Sucks to be him, poor guy.

Oh, and next week, they're switching from a 9/80 schedule to 4/10's. He's going to work it so he gets two two-day weekends and two four-day weekends per month. He's been pushing for this for a couple of years. They got a new big boss who is shaking things up, trying to do things differently than the old big boss, so DH saw his chance. New boss asked for a one-minute presentation on why he should agree. DH did the research, I polished it up, DH presented, and the big boss agreed to a trial run for his division. Teamwork for the win!

We have no earthly idea what we will do with the extra money. Dump it in investments, I guess. We literally want for nothing. MPP.

[brookebcollin]

- Boss: Why do you want to quit?
- Me: Because I'm bored
- Boss: I will give you a raise
- Me: I don't need that shit, I just need to get out of here.
xD xD

[BussoV6]

OP describes my situation as well. Our company got bought out a few years back and many of our tech people left due to matrix-overmanagement.

I just got a 15% raise and they are considering a non-compete agreement where they pay me a year's salary if I leave if I stay out the industry for a year.

They don't realise they just brought my RE date forward by 12 months....

[PhilB]

Something that may help with walking away.  Think about what you would actually do with the cash if you stayed on for an extra 6 months.  Not all the different things that you might do, but the most likely thing that you would do.  What value do you personally put on that?  Now imagine having 6 months holiday on your current FIRE budget.  What value do you put on that? 
Choose the one that has the higher personal value to you and do it without regrets.

[dandarc]

I just got a 15% raise and they are considering a non-compete agreement where they pay me a year's salary if I leave if I stay out the industry for a year.

Wow - generally "don't sign the non-compete", but usually there isn't a year's salary built in for not competing.