So no raises this year? Assumed we would have heard something by now?
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Budgets are tied to market forces, but compensation is highly dependent on individual performance.
Compensation is tied directly to MARKET FORCES, not performance. Remember what happened in the oil patch during the 2010-14 time frame? Attrition rates were very high and companies were desperately competing with each other for warm bodies to execute their delusional growth plans. Compensation exploded commensurately.
Unfortunately, many of those same people were later shown the door when product prices crashed. Again, due to MARKET FORCES, not performance. This a highly cyclical business and not for the faint of heart.
Exactly. Raises aren’t meant to keep pace with inflation. Raises to meant to keep salaries competitive with other employers and to recognize performance.
Our team got their raises and everyone is fine with it. The good bonuses help take off the fact that raises don't keep up with inflation. The company will never give raises across the board to match high inflation. Is that is the case what about when inflation is 2%. Will people be happy with a 3% raise. You can't use inflation as an indicator unless you can be happy with the reverse.
I have heard from others on my team that they received anywhere from 4% to 13%.
The range is greater than zero and less than real inflation.
What's the range this year?
Mine was the best in three years.
Received mine today as well. Best one I've had so far.
Got today. Was impressed and happy. Was a good one. Expected none.
Person posting below is a liar troll.
Only a few employees getting a raise this year. They have already been notified.
I haven’t gotten mine yet but I scored high and satisfactory in my rating. I can’t imagine not getting one with a good rating. I’ve gotten one every year even when oil prices are bad. The poster below is a troll ignore him.
If you haven’t heard yet, you will not get one.
I got mine. Biggest increase in my 11 years here.
Sooooo, the information apparently was shared from HR last night or this morning. I got my call an out ago.
I know of two have gotten their talk. Avg of 5%.