I was having this discussion with a friend recently and thought I’d post it here because more people need to understand/consider this for their job.
Raises are merit-based wage increases to reflect the increased value you bring to the company…but they almost never are. If you get a 3% “raise” when inflation has gone up 4% in that time. You didn’t get a raise, you’re only make 1% less rather than 4%.
Nothing should be considered a raise until it exceeds what is a cost of living adjustment. There are way too many companies that cap raises at 5% a year, and you’ve got to be the very top performer to even get that.
If your wage increase is, at best, keeping up with inflation, your company is telling you to be excited and grateful for them not effectively paying less…all because you worked extra hard and exceeded your goals. It’s a thinly veiled stick, they’re telling you is a carrot.
TL;DR: Don’t let the people at the to continue to get richer from you busting your ass to get what’s nothing more than a cost of living adjustment.