|
|
|
|
|
|
BMW Garage | BMW Meets | Register | Search | Today's Posts | Mark Forums Read |
|
BMW 3-Series (E90 E92) Forum
>
merit increases....
|
|
04-14-2008, 01:55 PM | #1 |
Major
180
Rep 1,265
Posts |
merit increases....
Hey is merit increases the only chance you get a raise through out the year besides promotion...etc? Is this the only yearly salary increase? I'vebeen in this company for 7months... and it's my first review so far... and my raise is so little somewhere around$2000
|
04-14-2008, 02:17 PM | #2 | |
Colonel
371
Rep 2,984
Posts |
Quote:
__________________
"...I maybe drunk, but you're ugly, and I can sober up..." |
|
Appreciate
0
|
04-14-2008, 02:23 PM | #3 |
Private First Class
10
Rep 191
Posts |
At my company, yeah, it's the only increase. This year = 4%. Last year = 6%. Although, I do work for a very VERY large financial services company that has had craptastic earnings all year. They say we should be lucky to be employed... lol
__________________
Scarecrows25
Jet Black E90 328i / 6MT / Sport / Xenons / Split Fold Rear Seat / OEM Chrome Exhaust Tips |
Appreciate
0
|
04-14-2008, 02:31 PM | #4 |
Major
180
Rep 1,265
Posts |
well I am in retail... i guess people are starting to wear less and less.... but I thought for financial you guys get lots of bonus.... but oh well... 40% taxed
|
Appreciate
0
|
04-14-2008, 02:49 PM | #5 |
Careful, I Bite.....
153
Rep 504
Posts |
Big turnover of personnel in retail. Both my daughters used to work in retail, and it's a thankless job. Just be thankful you have a job.
|
Appreciate
0
|
04-14-2008, 02:51 PM | #6 |
Major
122
Rep 1,369
Posts |
7months and you already got 2k raise. i say that is good. we get like 4% on our salary yearly. few months until mine, but hopefully i get a new job soon
__________________
|
Appreciate
0
|
04-14-2008, 02:52 PM | #7 |
Private First Class
10
Rep 191
Posts |
Some of those financial guys do... but not me. My bonus was 5.5%
__________________
Scarecrows25
Jet Black E90 328i / 6MT / Sport / Xenons / Split Fold Rear Seat / OEM Chrome Exhaust Tips |
Appreciate
0
|
04-14-2008, 02:54 PM | #8 |
Ski bum
316
Rep 6,198
Posts |
Ours is only yearly. Average between 2%-4%. They suck. The money for us is in the bonus. Over 30% the past couple years, but that depends on the person.
__________________
1999 e46 328i Ti Silver / Black[retired] 2007 e90 335xi Jet Black / Black[retired] 2011 e70 X5 35d Vermillion Red / Cinnamon 2011 e92 M3 LeMans / Fox Red extended |
Appreciate
0
|
04-14-2008, 03:03 PM | #9 |
Major
180
Rep 1,265
Posts |
|
Appreciate
0
|
04-14-2008, 03:09 PM | #10 |
Major General
1639
Rep 6,556
Posts |
WOW, interesting, (most) the salary increases are lower than the inflation and the dollar is worth less than last year -- I guess we're all making less than last year, while everything is much more expensive than the year before...great...
Just got back from Europe where I could not afford to by anything as everything seemed to be extremely expensive... To answer the OP's question -- usually (in the large companies) there are three or four ways to get the salary increase -- raise, merit, bonus and the fourth would be if you try to leave and they really want you and need to keep you... A merit increase after 7 months is a good thing, definitely. |
Appreciate
0
|
04-14-2008, 03:14 PM | #11 |
Brigadier General
2070
Rep 4,365
Posts
Drives: '07 Z4 Coupe, '21 X3, '16 GMC
Join Date: Aug 2007
Location: Iowa
|
Actually the percentage raise should go up every year.
Most financial companies give raises up to 3% a year and bonuses anywhere from 6%-15% a year. I only got a 3% raise after working here 7 months (but I got a 7.5% bonus as well so it was alright). I think it is decent since I just got done with college last May.
__________________
2007 Z4 3.0si Coupe • 6 MT • Black Saphire Metallic • PP • SP
2016 GMC Sierra SLT Z71 Premium Plus 4x4 2017 Harley StreetGlide • Denim Black • V&H Tune 2021 BMW x30i • Phytonic Blue Metallic • Fully loaded |
Appreciate
0
|
04-14-2008, 03:25 PM | #12 | |
Major
180
Rep 1,265
Posts |
Quote:
|
|
Appreciate
0
|
04-14-2008, 03:26 PM | #13 |
General
530
Rep 18,123
Posts |
Average in a lot of companies I have seen are 2-5%. You will usually get less if you have not worked a full year.
__________________
Current: 2010 Alpine White 335D LCI l 19" BBS LMs l KW V2 Coilovers l BMW Performance Grilles l MSport Front/Rear l Karbonwerke Trunk l F1 Pinnacle Tint 35% Former: E92 Space Grey 335i Latest pics |
Appreciate
0
|
04-14-2008, 03:26 PM | #14 | |
Major
180
Rep 1,265
Posts |
Quote:
|
|
Appreciate
0
|
04-14-2008, 03:54 PM | #15 | |
General
530
Rep 18,123
Posts |
Quote:
Bonuses are typically given out at the end of a financial quarter/year/etc. depending on your company.
__________________
Current: 2010 Alpine White 335D LCI l 19" BBS LMs l KW V2 Coilovers l BMW Performance Grilles l MSport Front/Rear l Karbonwerke Trunk l F1 Pinnacle Tint 35% Former: E92 Space Grey 335i Latest pics |
|
Appreciate
0
|
04-14-2008, 04:12 PM | #16 |
Major
180
Rep 1,265
Posts |
|
Appreciate
0
|
04-14-2008, 04:22 PM | #17 |
Private First Class
10
Rep 191
Posts |
At my company, I knew what my raise (merit) and bonus would be in late January. The bonus was paid in mid-February, and the new pay rate took effect on March 1.
HR is supposed to be a PIA -- otherwise, they wouldn't be HR
__________________
Scarecrows25
Jet Black E90 328i / 6MT / Sport / Xenons / Split Fold Rear Seat / OEM Chrome Exhaust Tips |
Appreciate
0
|
04-14-2008, 04:25 PM | #18 |
Brigadier General
2070
Rep 4,365
Posts
Drives: '07 Z4 Coupe, '21 X3, '16 GMC
Join Date: Aug 2007
Location: Iowa
|
I got both of mine within 2 weeks of eachother... both in March. Bonus is related to company earnings / personal performance so it is right after yearly earnings are released. The raise is about the same for budgeting purposes I think.
__________________
2007 Z4 3.0si Coupe • 6 MT • Black Saphire Metallic • PP • SP
2016 GMC Sierra SLT Z71 Premium Plus 4x4 2017 Harley StreetGlide • Denim Black • V&H Tune 2021 BMW x30i • Phytonic Blue Metallic • Fully loaded |
Appreciate
0
|
04-14-2008, 06:51 PM | #20 | |
Brigadier General
2070
Rep 4,365
Posts
Drives: '07 Z4 Coupe, '21 X3, '16 GMC
Join Date: Aug 2007
Location: Iowa
|
Quote:
It is always nice just getting an extra $50 a month out of nowhere Happens to me about 3 times a year Gotta love insurance companies!
__________________
2007 Z4 3.0si Coupe • 6 MT • Black Saphire Metallic • PP • SP
2016 GMC Sierra SLT Z71 Premium Plus 4x4 2017 Harley StreetGlide • Denim Black • V&H Tune 2021 BMW x30i • Phytonic Blue Metallic • Fully loaded |
|
Appreciate
0
|
04-14-2008, 07:04 PM | #21 | |
General
382
Rep 21,747
Posts
Drives: E92 335i TiAg/E46 323i TiAg
Join Date: Mar 2007
Location: CA
|
Quote:
Now, $2000 may be a prorated amount since you've only been with the company for 7 months. I would talk to your manager and see if that is the case. Also, look to future merit increases to be based on company results, which tend to you have a direct effect from the current day economic situation. So this year, I'm not expecting much of a merit because the economy is hurting in certain sectors. Another factor to merit increases are salary grades. If you are in the lower part of the grade, your increases will tend to be larger. If you are near the top of the grade, your increases will be smaller, and in order to get away from that, you will need a promotion to get you into a higher grade. Be patient and evaluate your plans at the company. See if there is growth potential for you. You tend to get the largest increases when you hop from one company to another. If you start low, stay with the same company, you tend to stay low. Good luck to you.
__________________
07 E92 335i | TiAg | Step | Padl | Cmft | Alum Trm | PDC | Nav | Assist | Sat | Lthr | Prem | Sprt | Rear Splr | RDSport Quads | iPod | V1 | LT Refl | VS Clear Bra | OEM Lip | KWV2 | Mtec Sides | BBS LM-R
00 E46 323i | TiAg | 5sp | Sport | Roof | RDSport Cams | RDSport tune | RDSport Shift | Volk LE37 | M3 spoiler | PSS9 | SuperSprint | Brembo |
|
Appreciate
0
|
04-15-2008, 04:18 PM | #22 |
Long Time Admirer, First Time Owner
17873
Rep 9,376
Posts |
At 7 months, it sounds like you passed probation and get a small merit increase from the bottom of the salary range. That will normally now become your annual review time, where you again get an increase (assuming performance merits this) Typically separate from Cost of Living adjustments, normally at contract or fiscal year beginning time.
For me, after 6 months I got 5%. Next 3 months I got another 6+% due to competitive study where I was below my counterparts. then annually I have received 10% until this year, since I am getting close to the top of my grade. |
Appreciate
0
|
Bookmarks |
Thread Tools | Search this Thread |
|
|