I’m curious when other people usually have their annual performance reviews and if they receive a pay raise? I’m also wondering if certain industries are more effected by the tanking economy.
Since I work in higher ed, our performance reviews occur in May/June to coincide with the end of the fiscal year. I haven’t received a pay raise for the past three years yet every year I get my hopes up like a dope. The second year with no raises, we recieved an extra week of vacation.
The higher education industry was pretty severely effected by the dot com bust. There were a couple notable exceptions like Harvard and MIT. Higher ed is typically a money losing business and survival is based upon endowment’s performance.
Performance review in March & September
Salary review in May
Pay raise effective in June
Pay raise can be between 2% to 14% depending on merit (I got a 14% last year!) with a fixed %age of employees to be eligible for raises of various levels. In other words, the system is independent of the economy.
We get performance and salary reviews at our hire anniversary. Actually, come to think of it, I never got my performance review this year. They gave me my pay raise a few months early, and that was the last I heard of it. Since they gave me a raise and would have offered me a supervisory position if we weren’t moving this summer, I assume my performance is satisfactory.
Performance Reviews are quarterly. First quarter is planning for the rest of the year, second and third reviews are to see how you’re doing on your goals, and the final is the final. I don’t know how else to put it.
My last raise was 4%, effective beginning of April. It’s been pretty much around 4% each year.
I work for my provinces Lottery Corporation. It is a Crown Corporation (Government run).
Our year end is April 1st. We just implemented a new Performance Review system. We are supposed to meet with our manager/supervisor 4 times a year, with the 4th time being around April 1st and you get your formal appraisal at that time.
From this formal apraisal you are eligible for a 0-8% merrit increase based on performance. When I first started they also included a cost of living increase (1-2.5%) but there has been a freeze on this the last 4 years.
We also set corporate goals (sales, operating expenses, etc) and personal goals (finish project x by this date, eliminate a manual process that is done today, etc). If the corporation meets it’s goals and I meet my goals I am eligible for a lump sum bonus of 5-12% which is pretty cool.
However, if you have been with the corporation for a long time and are at the top of your payscale, your are not eligible for the merrit increase. If the cost of living increase comes back they will increase your pay range by what ever the increase was (ie if the COL increase was 1.5% and your top of pay range was $62000, your new range would be $62000 + 1.5%).
Insurance guy. Auto Claims these days. If you have a pulse, ability to interact successfully with human beings & measurable I.Q. you’re in for a starting salary of about $25k. A degree will start you around $36k.
