Be prepared for salary increases to be less than inflation. Talking points shared with supervisors already.
The annual inflation rate for the United States was 3.2% for the 12 months ended October, compared to 3.7% previously, according to U.S. Labor Department data published on Nov. 14, 2023. The next update on inflation is scheduled for release on Dec. 12 at 8:30 a.m. ET. It will provide information on the rate of inflation for the 12 months ended November 2023.
Year Annual United States Inflation Rate
2013 1.5%
2014 0.8%
2015 0.7%
2016 2.1%
2017 2.1%
2018 1.9%
2019 2.3%
2020 1.4%
2021 7.0%
2022 6.5%
2023 3.2%
https://www.usinflationcalculator.com/inflation/current-inflation-rates/
The market place is the real test of your worth. If you are unpaid at XOM then you should be able to get a new job at higher pay easily...go get it. If you are complaining about low pay, you are just stupid or the market agrees that you are not worth it.
Prophetic
They always tell us that our increases tend to lag one year behind, so we should get massive raises this year right? Right guys?
The only things inflated are your egos.
I think someone clearing $250k per year to do as little as most of you do has nothing to complain about.
If you think you’re worth more go try your luck in the job market. I guarantee you’ll get less and be asked to do more.
What a scam...When inflation is high... They say oh we benchmark against others... You know eventually things will catch up just be patient.
When inflation is lower ... Oh great news inflation is lowering... So your money doesn't get eroded as fast... So we will pay you even less.
Yeah good luck with that, I'm out early next year.
“Be prepared for salary increases to be less than inflation.”
So just like all prior years, at least in my experience. Su-ks but I expected this to be the case.