Salary increases will be way below inflation in the US, UK, Hong Kong and other high cost centers. Members of LSEG Exco believe that employee engagement could increase with recognition bonus points. The equivalent of gift cards.
So you might be able to receive 1% or 2% increase.
Just giving facts. Merit increase might be only 3%
On one of the townhalls Q&A the question was asked: "Most countries have high inflation (US is 7%) while annual salary increases are 1.75-2.25%. How is the company to retain talent with -5% annual decreases on real term".
Answer by leadership: "We have used data from our providers to determine guidance on country-specific merit increases, taking into account inflation in each country. We recognize that inflation has been high in many countries, but we also need to strike a balance with affordability and our synergy targets."
I am speechless.
In public sector unions organise strikes for poor pay rises. Unions at LSEG got ba--s to do it? Surely that’d get some attention? Or did the bargaining units agree,to these pay rises and complicit? I’d bet it’s the latter.
@8ann+1eXQfPhF so correct my friend so correct. Worst. The best of the best go , the ones loyal and committed.
Can confirm, US based the guidance via workday for "Market Competitive folks" was 2.5%.
So they are taking a 5% paycut.
It's not about retaining or acquiring talent.
It's about wanting to trim the fat and somehow losing the muscle instead, as it's all in good ol' TR HR capable hands.
12% inflation here in Sri Lanka
I recommend that everybody ask the question on every townhall that "How the company is planning to retain (or acquire) talent with -5% real annual salary increases in a tight labor market?"
In the US the annual inflation is 7%, so a 1.75-2.25% average salary increase represents -5% real salary increase (alias a 5% salary decrease).
The numbers are similar in most developed countries (UK, France, etc), so you can ask the same question in all of those countries' townhalls.
All for “real cost”, cheap as an organisation.
Offshore is around 8%.
Nothing good here. I hope all these posts are just bad rumors. Here in the the UK everything is more expensive.
Revenues grew over 4%, and EBTDA is close to 50%. These 2 key metrics are brilliant. Inflation is over 5% in the UK and France.
To the person asking how can 4-5% be possible when US inflation is at 7%. Ask yourself this question "did revenue and profits grow by 7% ?". You work for a company where revenue and profit is the key metric, of you don't hit those metrics why should you get any rise ?
What were you all expecting?
Just take a look at the bands, the manager / team leader band got downgraded to senior associate. Why? Because our pay is too low. You can be managing a team of 15 on a manager level but your career stage is senior associate, ridiculous .
Out of curiosity, what was everyone expecting? Standard HLSE pay rises have been rubbish over the last half dozen years. Got to be honest, anything above 2% is a result on prior years. Don’t get me started on bonuses and pension changes though!!!!
Senior managers have been instructed to sell the total compensation station to forget about salary adjustments.
The idea is to drive engagement with gift cards and the new platform to be launched in February.
No promotions but career progression. The idea of moving horizontally. Promotions to band 15 and above will be impossible.
You have been warned.
If you are one of the lucky ones to get 2.25%, the manager always says "don't tell anyone how much you got". This year, you won't tell anyone out of embarrassment.
Someone on my team once told the manager, you can keep the raise, the company needs it more than I do. I love that guy.
Yes I just saw it today. My US employees merit range was 1.75% - 2.25% way below inflation. You have to be employed until March 1st to receive your bonus and then I'm outta here
Less than 4-5% ??? How can that be possible? Inflation in the US is at 7% for 2022.
Are you a manager? Do you have access to the pool information?