Yep my boss just said that shit to me at a performance review.
I'm a salaried engineer so I'm better paid then some, but pretty lowly paid in my field.
I work approximately 2256 (read that as about 200 hours more than the usually 9-5) and make kinda shit pay at $64,000. The “raise” this year was 1.56%. so not only are they expecting me to take a pay cut, they want me to work more hours at a reduced hourly rate (I get paid a flat $250 for a 12 hour overtime day) “to compensate for it”.
Yeah like that's how this works… Anyways I'm job hunting now.