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| *Ostroff, Fair and Company>>>Financial Services |
What's the average annual raise? thanks? |
What's the average annual raise? thanks? depends on how the company is performing. if it is doing terrible they will find tons of reasons why there are no raises or low raises. managers have a pool of money they have to divide and it's usually skip merit for your poor performers 10 percent of your workforce, 2 percent for solidly effective 80 percent of your employees and your 3 to 5 percent for your top tier last ten percent of your workforce. you load it into an excel spreadsheet and it has to equal the total department budget. hmm kinda open ended question there... as in for your job? well with my job after the probationary period it was a 5 dollar raise, then after 1 year i got another 5 dollars, 2nd year was 2 dollar raise and 1 dollar a year after that. But at past jobs i had 3% of my earnings was typical. but it varies with job and performance It always varies, but companies that give generic raises usually fall 3-5% per year. If your company does merit raises, it could be much higher (or lower if you aren't good at your job) The national average usually hovers around 3-5%. I've received merit increases ranging from 2%-29% over the course of the past 15 years. The main determining factor is usually the amount/percent that a company decides to set the merit increase pool at for the year. The second factor is the employee's performance. It really depends upon the company (ie. how profitable and how generous), but generally 3-4% on average. |
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