I am in the higher ed dep, so we usually get "significant impact" merit increase equating to 3.25% of salary regardless of performance. Has this percentage changed for this year? I guess we will find out from our next paycheck.
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Budget was tight this time around due to IPO and severance pay-out for laid-off employees. They couldn't say that part out loud. What a shame. Hence, the lower % merit increase.
Another great AQ from last Friday
I'm curious why we call it "merit increase" if the compensation is capped at a certain percent at the organizational level? It is highly demoralizing to have invested highly in the company and contribute to increases in growth markets but still receive an "adequate" level of merit. I can handle the conversation that the company can't afford to increase everyone's salary, but it is a lot harder for me to stomach "you did above and beyond your job description, but you didn't do enough to warrant recognition of that in a way that sticks with your workday"
@w5 okay, so they reduced the significant impact % this year. Not shocked.
@OP in the US & UK, the 'significant impact' % this year was between 2.25% and 3% depending on which quartile of your salary band you're in. Lowest quartile gets 3%, highest 2.25%. I'm pretty sure last year it was 3-4%
@c8 - since I started working here, I have received a "significant impact" % multiplied by the quartile in which my salary falls within my salary range. So they did something similar then.
@bw literally couldn’t have said it better myself. Nailed it all.
@ad “In FF, they mentioned 2.5% percent which is what lot of people got I think. Cost of living is 2.8% by the way.”
It confused me that they said this. I got 3.5% and know a few others who got 3-4%. Again, just zero transparency here because they definitely said 2.5% was the “top end”.
@ad It's telling how much MH was unprepared for this pushback. Or any pushback, really. Shouldn't someone on his team have told him it was a possibility? I mean, B isn't there to skillfully guide MH and kiss his b-tt anymore, and the new girl is new and probably doesn't want to tread on his toes.
But the surprise! His complete floundering when trying to explain the it was a merit increase but really a cost of living increase and really it's our fault for not meeting impossible standards with less staff and higher goals!
I don't think he was just "uncomfortable for 30 minutes"; I think he was MAD MAD MAD and heads will roll or at least get shouted at.
Plus, the lack of music at the beginning of the call meant that no -sskissers flooded the chat or Slack with woos and I love this song as much as I love Cengage. Love to see it.
I cant believe he had the nerve to say he wants to pay more than the competition but then ranted about all the reasons he won’t - mainly blaming us and saying we need to bring in better results. He’s lucky he gets the results he does after years of inconsistency and revolving door of changes and zero innovation. Really speaks to the stellar team doing a lot with nothing.
wow 2.5% is a terrible number. i guess people might consider you lucky if you're still getting a paycheck. but it has been between 3-4% at cengage for the last few years.
In FF, they mentioned 2.5% percent which is what lot of people got I think. Cost of living is 2.8% by the way.
Lots of hemming and hawing about having competitive salaries and blaming the low raises on performance and results. Lies. They are just being cheap.
I’m glad their feet were held to the fire. But it won’t change anything. They were uncomfortable for 30 minutes and then went off to count their money.