I’m sick of being squeezed every year when it’s performance review time
I’ve been trying unsuccessfully to get a raise at work, not because I’m greedy, just because 14 years ago when I started this job the buying power of the salary I had is about 50% more than the salary I now have, despite the small incremental raises I’ve been given every 2 or 3 years “when we can afford it”
I’m the UK, inflation has been crazy these last few years, fortunately the minimum wage (per hour) has been increased in record levels the last few years, which is absolutely required, however my feeling is that if the government didn’t absolutely have to, they definitely wouldn’t, increases have worked like this over the last 5 years
2019 – £8.21
2020 – £8.72
2021 – £8.91
2022 – £9.50
2023 – £10.42
And is set to rise next year to at least £11 an hour in April. So since 2019 to 2024 the minimum hourly rate has increased by 34%, and obviously the majority of employers who pay salaried jobs hide from theses levels of increases and choose to squeeze their employees
So my point is, I think it would be more shaming for a big global company like mine (who make loads of money, but the budget for bumps is always dry) if everybody started indexing their salary as “minimum + X %”
It’s should be standard rhetoric when going for an end of year performance review to show where your salary sits in line with inflation
For example my salary currently is
minimum of what they can legally pay me + 18%
Whereas when I started this job 14 years ago, it was (minimum + 47%)