Just got a Promotion and 8% raise!

[FIreDrill]

My yearly review is tomorrow and I just found out today I got a promotion and a pretty nice 8% raise, :).  This got me pretty excited so I started looking at my history with my employer.  Since getting hired a little over 2.7 years ago my base pay has increased 35% with an average yearly pay increase of 10%.  This is mostly due to internal job changes/promotions and things like that, but it's still making me feel pretty BA lol.  This raise was timed perfectly sense I just upped my 401k contributions to 30% which should max it out.  Onward and upward!

[HappierAtHome]

Congrats!

I find recognition (in any form, but especially in promotion form) is great for motivation :-)

[ichangedmyname]

That is awesome! I have been looking to be promoted internally as well. That's great with a 35% increase since you started. Well done! Keep it up!

[Exflyboy]

Thats great,

Most companies I have worked for promote you at the same pay and expect you to "prove yourself". namely they get 6 mos to a year of Free labour where you work your butt off... And if you don't make it.. well darn, we'll promote somebody else.

Then they wonder why people leave.

Frank

[lexie2000]

Congrats Student!!  That's AWESOME!!

[FIreDrill]

Thats great,

Most companies I have worked for promote you at the same pay and expect you to "prove yourself". namely they get 6 mos to a year of Free labour where you work your butt off... And if you don't make it.. well darn, we'll promote somebody else.

Then they wonder why people leave.

Frank

That would definitely frustrate me.  In last years review I asked my manager what they needed to see from me to be promoted so I had a pretty good idea of what I needed to do, still was surprised it happened a year later.  He told me last year that they like to see employees taking on the responsibility of the promoted position for six months and that's when they are most likely to promote you into it.  So I guess it's the opposite as your example, if the employee goes above their current duties they get promoted.  I'll be doing the same exact thing but more will be expected from me than when I first started 2 years ago. Feels pretty good :)

[shusherstache]

Thats great,

Most companies I have worked for promote you at the same pay and expect you to "prove yourself". namely they get 6 mos to a year of Free labour where you work your butt off... And if you don't make it.. well darn, we'll promote somebody else.

Then they wonder why people leave.

Frank

That's why I'm leaving my current job.  It's been two years.  They pay well but they work people out of their pay grade.

[Hedge_87]

good job its nice to get recognized for hard work! I always like taking on new roles too its nice to challenge yourself by taking on new responsibility.

[mm1970]

Thats great,

Most companies I have worked for promote you at the same pay and expect you to "prove yourself". namely they get 6 mos to a year of Free labour where you work your butt off... And if you don't make it.. well darn, we'll promote somebody else.

Then they wonder why people leave.

Frank

That would definitely frustrate me.  In last years review I asked my manager what they needed to see from me to be promoted so I had a pretty good idea of what I needed to do, still was surprised it happened a year later.  He told me last year that they like to see employees taking on the responsibility of the promoted position for six months and that's when they are most likely to promote you into it.  So I guess it's the opposite as your example, if the employee goes above their current duties they get promoted.  I'll be doing the same exact thing but more will be expected from me than when I first started 2 years ago. Feels pretty good :)

Ha!  My companies do the same "pay follows performance".  They don't actually promote you until YOU'VE ALREADY BEEN DOING THE JOB, and maybe not even then.  And even if you DO get promoted, chances are there's no money.  I think my coworker might be promoted to be my boss.  I told him "I hope you get money!" He said "I've been doing all this extra work, more responsibility for a few months...for nothing!"  I said "welcome to my entire world last year!"  (Which is why I asked for a transfer...I figured if I'm not getting paid for doing the management, I might as well go back to doing what I was doing!)

[FIreDrill]

Wow I would be pissed to get a "promotion" without a pay increase.  I actually asked my boss last year how their pay increases work and he gave me the full rundown so I knew what to expect.  Every yearly review I can expect to get a 2-3% COL raise and if you get promoted they add an extra 5-8% so a promotion can be anywhere between 7-11% pay increase.  I was pretty happy with my 8.3% increase considering I've only been there 2 years and he told me last year promotions usually only happen after 3-4 years of being with the department.  It was really awkward asking him last year how pay increases work but we had a great discussion and now I know what to expect which is very nice.

[mm1970]

Wow I would be pissed to get a "promotion" without a pay increase.  I actually asked my boss last year how their pay increases work and he gave me the full rundown so I knew what to expect.  Every yearly review I can expect to get a 2-3% COL raise and if you get promoted they add an extra 5-8% so a promotion can be anywhere between 7-11% pay increase.  I was pretty happy with my 8.3% increase considering I've only been there 2 years and he told me last year promotions usually only happen after 3-4 years of being with the department.  It was really awkward asking him last year how pay increases work but we had a great discussion and now I know what to expect which is very nice.

Yeah, I work at a start up company and money is scarce.  Meaning, the old timers don't get raises.  But when people quit and we replace them, we pay market rate. Fun times.

[spoonman]

8% is pretty darn good, especially these days.  In the last "promotion" I got a 2.99% raise.  I'm sure the 0.01% they omitted will really keep the company solvent =).

[MinimalistMoustache]

Well done, SS! Onward and upward - Indeed.
Congratulations :-)

[FIreDrill]

Well done, SS! Onward and upward - Indeed.
Congratulations :-)

Thanks :)

[MrCash]

That's awesome!  You are definitely on your way!

[James]

Congrats! Great to hear your performance is being rewarded, that's a lot of pay raises!


I just got a 5% pay cut, they cancelled the 2% raise scheduled for April1, and they dropped 401k match by 1%. So that is a 8% drop from expected… :O   But my compensation is still fine overall, and we live cheap so there is nothing it will affect, just less going to savings. Every job is different and every company is different, it would feel good to work for a company that seems to be doing the right thing, maybe I will get that opportunity some day. :)

[oldtoyota]

Wow I would be pissed to get a "promotion" without a pay increase.  I actually asked my boss last year how their pay increases work and he gave me the full rundown so I knew what to expect.  Every yearly review I can expect to get a 2-3% COL raise and if you get promoted they add an extra 5-8% so a promotion can be anywhere between 7-11% pay increase.  I was pretty happy with my 8.3% increase considering I've only been there 2 years and he told me last year promotions usually only happen after 3-4 years of being with the department.  It was really awkward asking him last year how pay increases work but we had a great discussion and now I know what to expect which is very nice.

Yeah, I work at a start up company and money is scarce.  Meaning, the old timers don't get raises.  But when people quit and we replace them, we pay market rate. Fun times.

Yep. That is a huge problem. I've seen that a lot...where those who've been working at the company longer end up earning less than the new people. It's frustrating as a manager not to be able to do something about it.

[zinnie]

congrats! how exciting.