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Raises are set across the division then managers get discretion to adjust per person based on the bucket of funds they have for the group they manage. Not a lot of wiggle room though. Timing of notice goes out late Feb to early Mar with raise going into affect around the first April pay period, but could be second one in April depending on the calendar.
The amount of base raise varies a bit each year but really that much, often in the range of 2.5-3.5% per year. Bonus (AIP) is much more variable based on performance.