Is a 6% end of year salary increase reasonable for 2023, considering it’s supposed to be a “Merit” increase but also taking inflation into account?

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It’s better than most. Average merit increase is 3% across the board

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With 7.7% inflation it’s not all that much in terms of actual buying power. Still generous though, since most companies pay well under annual inflation rates anyway.

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I’ve worked for my company for 12 years and in over a decade + I have never seen more then a 3% annual raise. I think 6% would be wild.

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Oh that’s reassuring to hear! It’s my first year in the corporate world so I don’t know how things work. They are also restructuring the company and so they are moving me into a new role which is basically the same function just within a different team. My responsibilities won’t necessarily increase but I have to learn the dynamics of this team and market in January

likeuplifting

Literally in awe that everyone thinks this is “generous” - inflation was up 10% in some cities, you’re literally losing money by staying with them. If I were you, I would demand more & explain why the reasons I deserved it- projects I’ve taken on

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In years when inflation is stagnant or even drops (as is anticipated), are you in favor of companies decreasing or not offering annual raises?

If the measuring stick for a raise is inflation, it becomes a two way street.

I was given a 12.5% raise due to being under market for my salary during mid year performance reviews. So you can potentially see a bigger % sometimes.

likeuplifting

hmmmmm that is a good point! i might try to negotiate as i think i could be a little under market

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Actually, it’s fairly generous imo

likesmart

One of my biggest takeaways is to be loyal to your friends and family but never to your employer. If you’re being underpaid, start looking elsewhere.

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merit 6%? I think that’s pretty good lol

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I agree

I think it’s important to note that we are entering a major recession and several companies are already experiencing layoffs - sometimes it’s easier to be happy with no merit increase but have a job then worry about hoping you get a 6% raise but get laid off instead

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Congratulations, this is the closest to YoY CPI I’ve seen posted on here so far.

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This is excellent loll.
I've only gotten 3% which is considered the max😭😭

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I didn't get anything, so... maybe? 🥲

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3% is standard, and 6% makes me question the company's finances. Also, inflation is a temporary measure and not a reason to provide raises; the cost of living is.

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Inflation usually lags actual cost of living on the ground based on how they calculate those figures nationally. With a nearly 9% annual inflation you’ll likely see 10-18% CoL increases in practice. I know personally many of my daily-weekly expenses are up in price 50-100%

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My company announced that they are going to provide larger merit increases next year after our end of year review and bonuses are distributed. The reason being is because of inflation. TBH, I was surprised to hear that given that inflation is supposed to be temporary, but bringing down today's inflation rate down to the 2.5% target will take a while (multiple years).

I work for one of the largest companies. If they're doing it, I'm not surprised if others will.

Good luck!

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The company I work for is usually about 3% for “merit” raises. But everyone in the department gets the same raise.

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I was going to start at 20% and see where it goes after negotiating. I took on a new role, more responsibility, team lead, and inflation... thebyearly 4% isn't going to cover this.

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Joined my firm in July after graduating, got a 13% bump for market adjustment + performance. I told myself if I didn’t get a minimum of +10% I’d negotiate for more given inflation and ridiculous HCOL

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What sort of company? I’ve seen 7% on average at startups and with how high inflation is, think the standard col is 4.8%

it’s a cpg. that’s cool to hear though! i wouldn’t know as it is my first year in the corporate world. thanks :)

My company gave out a 5% COL raise this year. This is my first year at this company so I don’t know what there base line is when inflation isn’t running roughshod over the economy. At my last job you would be excited to get 3% typical was 2% or less.

This year is going to be pretty tight. I’m at a company that’s historically been pretty generous on the raises and company average will probably be like 3-4% for non-promotion folks

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