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<blockquote data-quote="Ricochet1a" data-source="post: 927939" data-attributes="member: 22880"><p>Let's assume that FedEx will raise the topout rate by 3% a year to keep pace with inflation. Ahem...</p><p></p><p>Then assume (wait for it), that a FedEx employee will receive a 5% pay raise each and every year till they hit top out.</p><p></p><p>How long will it take them to reach top out? </p><p></p><p>If you have Excel, you can do this on your own in a minute.</p><p></p><p>Assume current Market Level A starting wage of $15.53 and top out of $23.59 as of March.</p><p></p><p>It will take them just over 21 years to hit top out. </p><p></p><p>If that employee hired in today, they'd top out in 2033 at a wage of about $45</p><p></p><p>Yes, $45...</p><p></p><p>The effects of inflation over the next 21-22 years will make a current wage of $23.59 equivalent to $45 in 2033. </p><p></p><p>This is all assuming that there will be full-time Couriers in the not so distant future...</p><p></p><p>So there you have it, a 22 year top out time. Oh wait, that assumes that you'll be receiving a 5% wage increase each and every year. </p><p></p><p>Look at the past 7 years and the average wage increase over that time has been about 4%.</p><p></p><p>How long to top out with 4% wage increases and the top being raised 3% to account for inflation?</p><p></p><p>I get just over 47 years. That is when the curves for $15.53 * (1.04 ^ # Years) intersects with the curve of $23.59 * (1.03 ^ # Years).</p><p></p><p>So...</p><p></p><p>Depending on the whims of Fred, you will top out (as a new hire today) somewhere between 22 and 47 years from now. NOT the 8 or 10 that many wishful thinkers are pondering. </p><p></p><p>If you make the assumption that the top "only" get an average 2.5% over time bump - which has been the average over the past few years....</p><p></p><p>You hit top out in year 29...</p><p></p><p>If you work for Express and have less than 10 years with the company</p><p></p><p>YOU WILL NEVER SEE TOP OUT - NOT EVER!</p></blockquote><p></p>
[QUOTE="Ricochet1a, post: 927939, member: 22880"] Let's assume that FedEx will raise the topout rate by 3% a year to keep pace with inflation. Ahem... Then assume (wait for it), that a FedEx employee will receive a 5% pay raise each and every year till they hit top out. How long will it take them to reach top out? If you have Excel, you can do this on your own in a minute. Assume current Market Level A starting wage of $15.53 and top out of $23.59 as of March. It will take them just over 21 years to hit top out. If that employee hired in today, they'd top out in 2033 at a wage of about $45 Yes, $45... The effects of inflation over the next 21-22 years will make a current wage of $23.59 equivalent to $45 in 2033. This is all assuming that there will be full-time Couriers in the not so distant future... So there you have it, a 22 year top out time. Oh wait, that assumes that you'll be receiving a 5% wage increase each and every year. Look at the past 7 years and the average wage increase over that time has been about 4%. How long to top out with 4% wage increases and the top being raised 3% to account for inflation? I get just over 47 years. That is when the curves for $15.53 * (1.04 ^ # Years) intersects with the curve of $23.59 * (1.03 ^ # Years). So... Depending on the whims of Fred, you will top out (as a new hire today) somewhere between 22 and 47 years from now. NOT the 8 or 10 that many wishful thinkers are pondering. If you make the assumption that the top "only" get an average 2.5% over time bump - which has been the average over the past few years.... You hit top out in year 29... If you work for Express and have less than 10 years with the company YOU WILL NEVER SEE TOP OUT - NOT EVER! [/QUOTE]
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