For those of you who got an inflation increase, how much did you get? I got a 4%, which was way less than I thought I was going to get. It’s definitely not enough to cover inflation as it is right now!!
We got a more than usual, generous bonus this year, but after a glowing end of year review I didn’t receive a merit increase…is this normal? I was told it wasn’t by my manager, but that doesn’t sound right.
I’ve learned not to expect much from working in the fashion industry. I know a lot of people who work in tech and get amazing bonuses, generous benefits, and so many opportunities to move up. It’s the opposite for the fashion industry! I used to think my love for fashion would overshadow the money aspect, but honestly I am thinking of making a career switch. Hate to be a cynic, but I don’t see this getting any better for our industry.
tell me about it. Salaries, if anything, have gone down in the last 5 years. I think it’s time to change industries!
Our company did really well last year. Record profits and our bonus paid out at 250%. But even with last years success everyone only got a 3% merit increase at our recent yearly reviews and only a few were promoted. After all we went through with covid and working OT because of the layoffs, this is how they reward their employees hard work.
Similar to above… the company did really well last year and we got a 200% bonus pay out. In connection with the success our merit increases were 5%, the highest my manager had ever seen 15 years at the company. No mention of inflation, raises, etc.
This was my first year at the company, so I wasn’t really sure what to expect. But since my boss had been casually mentioning inflation for weeks, I was hoping that was going to be taken into consideration with the increases, particularly for those of us lower on the pay scale. Our reviews are really strict and basically no one is allowed to get a glowing review. I had 2.5x the workload of any of my previous positions, did extremely well and was rated as “met expectations” on all points of the review metric My boss seemed almost apologetic when she gave me my review, verbally telling me how well I did and how glad she was to have me on the team, and not to think the “met expectations” rating meant I wasn’t doing a good job. But it was still really frustrating in combination with the increase that just about covers how much my rent and commuting costs are going up.
You’re lucky to have gotten anything. My company’s volume doubled and we got nothing. Owner brags to buyers how well we’re doing. If the only knew…
Same. Heard the company did really well sales doubled. Havent heard any “raise” maybe Im little less than an year, but hired at lower salary for the higher title- sigh, worked my A$$ off to build the business. Going to ask the raise on my 1 yr anniversary, lets see how it goes
Oh, definitely lucky to have gotten anything I agree! But honestly, that’s so sad. We should all be getting something MORE, especially if the company is doing really well.
Ugh, I’m sorry that your actual job performance wasn’t recognized. I feel like companies do anything and everything to make sure they keep you working for the least amount of money. That’s why people get burnt out and leave!
I never rec’d a ‘merit’ increase, unless i got a promotion. Only every get the annual COL increase which was 2-3%. i dont know what my % raise was this year. I was only full time for about 5mo, so i know my raise was pro-rated. My bonus was also pro-rated, which sucks because i had worked the whole year, but the first half was freelance
In many of the larger corporations, any salary increases (COL or merit) are calculated & budgeted 6 months before it would take effect, so for the employee it may feel like excellent performance is not rewarded. Also- a department head may be budgeted for increases say, 3% of the total payroll under their supervision to be distributed across the department so if they give one employee a better-than-basic increase, someone else will get less, and many managers are reluctant to do so. I know this from having had to make decisions in August for the next April salary increases. So if you can find out when your employer’s capital budget meetings are, make your big performance impressions or case for a raise shortly before the salary meetings to be top-of-mind when your manager is locking in their payroll decisions.
Received 14 % payout last year great year great company
Last year 20% bonus. Very good year for the company. Normally 10%.
This year nothing. Business is just not that great now.