Will there be salary raises a/o promotions this spring? If so, when?
18 replies (most recent on top)
No cycle until Q1, first there is the Q4 layoffs, then the “performance” rollout, and then cycle in FY24 with perhaps another layoff round in Q2.
Will there be salary raises a/o promotions this spring? If so, when?
Now is May and there was, AFAIK, no minor salary or promotion cycle. That was it. Let's wait for late October/November.
Cisco's pay was competitive in 2001. The pay now is intended to attract & retain D-level employees. We are competing against IBM, Intuit, and Texas Instruments for candidates.
With all the high inflation, how are the other tech companies doing with raises? Telling workers to just deal with it and no raise, and face some attrition? Or giving some retention raises? In the past Cisco's pay was competitive, but I think things may be falling behind the average due to lack of raises. Probably some new-hires getting similar money to 10 year vets.
This fall Salary increases will be cut back to like 2% effect on payroll, and maybe less, but the RSU grants will be very gracious in this next round to "position" this. They will also promote the bonus this year which by the were really cut back last year. The real reason they don't want to tell you is that Cisco gets the money back on much on the RSUs issued by planning layoffs, so the bigger your RSU grants year over year, the higher the chance you'll be in the next layoff. Too bad this is actually legal.
Too bad this is actually legal.
Too bad this is actually random b/s.
This fall Salary increases will be cut back to like 2% effect on payroll, and maybe less, but the RSU grants will be very gracious in this next round to "position" this. They will also promote the bonus this year which by the were really cut back last year. The real reason they don't want to tell you is that Cisco gets the money back on much on the RSUs issued by planning layoffs, so the bigger your RSU grants year over year, the higher the chance you'll be in the next layoff. Too bad this is actually legal.
You would need to have a 40 pc hike from five years ago to just maintain your lifestyle
Putting Cisco’s chart on a 10 year view the price went from $20.46 to $50.54 for a 147% gain. Be sure not to spill the Starbucks and avocado toast in the new Mercedes because that will cause you to lose even more value.
As Tom Vu said in his infomercials in the late 1980s, “I quickly realized I wasn’t going to become rich working for a living.”
Don’t forget we have to fund Oprah and others , so they can tell us things that make us better people.
To people who say we were the reason, nope. That’s bs. All we asked for was more pay. The ELT decided to reduce the bonus % and add it to base. We wanted more overall. If Cisco could stop spending money on stupid sh-t like buying the “Greatest place to work”, etc, we could actually be paid more!
You will receive a 19 cent raise.
"Sadly whats left are the submissive yes sir yes madam boot licking folks who dont have the spine, courage to question leadership and direction."
That's Corporate America. All corporations are filled with submissive yes men.
Sadly whats left are the submissive yes sir yes madam boot licking folks who dont have the spine, courage to question leadership and direction. They cannot find job outside or go anywhere. And mngmnt knows that. No raises or promos.
Promo, comp review cycle for G12 and below is after FYE
There are sometimes minor cycles in spring.
They just finished laying off a few thousand people. Something tells me that raises and promotions for the normal people aren't high on the to-do list.
Well, Cisco should show the surviving employees that they are appreciated so they don't jump ship.
Good luck! Csco where there are more VPs and Directors than engineers and foot soldiers doing real work. Too many pen pushers!!
Promo, comp review cycle for G12 and below is after FYE
If you are a director or abov, then it's $$$. Else you get to hear the story of layoffs and how lucky you are to have a job in this bad market.
Inflation is making us poor slowly every week
If you did 500$ of groceries in 2017 now that's easily 800.
Rents are 20 pc more
Car prices are thro the roof
You would need to have a 40 pc hike from five years ago to just maintain your lifestyle
They just finished laying off a few thousand people. Something tells me that raises and promotions for the normal people aren't high on the to-do list.
VP's etc. will still do their merry dance, but don't expect anything for anyone director and below
lol