Whatthewhat
Well-Known Member
That's a good point and a consideration. But bosses give merit raises all the time for reasons other than performance. I've heard bosses say that they gave a larger merit raise to an employee because they knew they needed the money (sole breadwinner, just had a child, etc.). It's not right, but we all know it happens frequently.
I think that's all the more reason that, if anyone can control giving themselves a raise via stock holdings on Dec 1, and take it out of the hands of their boss, they should. Plus, even if they get smaller merit raises in the future, that merit raise is based on a larger number. It may take a number of years for the Manager with the smaller new base salary to catch up to the Manager with the larger one. That's money in the bank.
Also, the 2023 and beyond retirement benefits (8% and 5%, rising to 7%) are based off of that base salary number.
Also, they claim that they are going to re-examine the salary bands in light of this change. Well see. No matter what, I'd still rather be at the maximum salary band sooner rather than later.the
The pay bands have to be adjusted. The new structure make almost everyone maxed out of the current bands. Pay bands are set up to benefit the company and the lower paid employees. Once you get to 100+ % you are getting minimal raises and then nothing as your % in the bands pass the 120ish range.
Pay bands across corporations are set up to eventually get all employees to the same pay and the longer you stay the more income you lose over your career, compared to moving to another company and a new pay structure and maximize your raises