There are people in my office who have been saying that we will receive close to a nine percent raise if we exceed. Is this insane talk or can someone please verify? This has to do with the current state of the economy, or inflation.
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Here’s what really happens with the buckets of money teams get. Most managers balance the merit and bonus pools so that everyone of same rating land in the same ballpark and the spread between the different ratings isn’t that much.
So Sally Meets might get a 3% merit and a 28% bonus while Johnny Meets gets a 4.5% merit and 22% bonus. Calculate the value of each equation and it’s going to be just about the same amount of dollars in value. Karen Exceeds might get 6% merit and 25% bonus but the value that calculates to, based on her salary, is going to be 3-7% more than the values of the meets ratings.
If you’re on the other end of the ratings stick, you’re pretty screwed. My group last year gave less than 1% merits for inconsistently meets and hacked those bonuses to the bone whereas does not meet got 0 merit and 0 bonus.
What is all this repetitive talk of “no one gets exceeds” about? This is not a humblebrag or trying to show off because I could care less if I got a Needs Improvement or Meets or whatever rank vs anyone else’s ranking but for two years I’ve gotten exceeds. Is it really some impossible task for other departments? I am in a support group under FHO (Foundational Hosting Org or Ops, I forget which because I don’t care) so “tech” if it matters.
Those "people in your office" don't know sh--e from shineOla. 9 percent raises are actually not within HR guidelines for maximum. Maybe you are just looking for a reaction with a post like that.. the managers are generally given a TOTAL of 2 % for their teams salary increases so that means that if a manager gave someone a 4% raise, 2% of that raise came from the rest of the teams raise pool. This means if you give someone 4% increase , you have to give only 1 % increase to 2 other people to balance it out.
I was told very low single digits is the expectation for my team.
I like 9 inches that would be amazing
You’re more likely to get 9 inches before you get 9 percent here LOL
Exceeds or consistently exceeds? I could see if it was the latter.
Might as well be 30%, nobody gets exceeds!
Merit raise for CIB is 3.8 percent. Heard it from a Biz Exec. Today.
Only people who are friends with the boss’ boss usually get raises like that, often at the expense of someone more deserving..
theoretically possible but unlikely unless your boss has you as a consistently exceeds and the rest of your team is below meets
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Ohhhhh F- off little man.
OP, I think this is a lay off board. Post somewhere else! Bonuses, salaries, yikes!
A nine inch big dog?? Yippee 😉!!
Would be potentially good news, but the punch line is that no one will be granted an exceeds 😉.
The 9 is Nine inches of a big do-g you will get in a 2% merit for busting your a-s all year. Dream on.