As the title suggests, the company I work for (Extremely large insurance company) just made an adjustment to the salary range for the role I work in. This brought my pay up by $0.07/hr, but now means that a new hire for my role makes the same as I do with my 8.5 years of experience with the company.
I will now be making $19.75/hr (I'm on an hourly pay rate). I work from home, have a somewhat decent 401k, decent health insurance, and plenty of time off. So I can't say I'm grossly under-compensated, but if I were to make the percentage over the minimum I was making before the adjustment, I'd be getting about $5k more per year. Not much, but every bit helps.
The fact that none of the past experience I have with the company is being considered is just a slap in the face. I have a meeting scheduled with my manager to discuss this further. I'm also planning to dust off my resume if things can't be worked out with them.
It sucks that this is being spun as an improvement to my role because to me, it amounts to a pay cut.