Is there an industry trend that I missed that companies are giving either very small salary increases or none at all?!

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Our standard is 4% but I got myself 7% by bringing market data. My first time asking for more and I was terrified…but they gave me the 7% and agreed to check the market again in 6 months. Companies don’t want to lose good talent, so the biggest thing I’ve learned is to ask for what I need.

likehelpful

Sweet! Good advice

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I went in with data to show what’s out there for folks like me and got a bump up from what their initial offer for salary increase was. You might ask to revisit in a few months if they still say no. There’s a lot of tech gigs open. If they don’t want to lose you, I’m sure they’ll try a bit.

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My last company only gave me raises as high as 3% unless I was getting promoted

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The market for PMs is really hot right now, so you have a lot of power to negotiate if you are not happy with your teary raise. I was in fact just poached from my company thanks to their banding not being in line with the Market, and I was not even looking for another job. I just had a bad day and answered one of the random recruiters who reach out on LinkedIn.

likefunny

This is the dream 😂

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Nothing new. I worked for many years at companies that required you to either get the highest scores on your review or a promotion to see a significant raise. Unless you fell into one of those two groups your annual raise was 0-3%, likewise with bonuses. Also, a lot of companies have salary bands and if you are on the higher end of the band you may not get any raise, even if your performance review was excellent.

It is really only recently that companies realize they need to give better raises or else their people are going to start looking elsewhere.

likesmart

I've been hearing the same on here.

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my b4 company gave me a 6.3% raise (trying to match inflation?) before I even started

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I don't think it's a trend, more so a result of a competitive market.

I think it's due to the economic downturn and massive inflation numbers. *sigh*

Seeing the same thing - glad it's not just me!

We've gotten a constant 3-5%

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