How are the raises looking in 2025? Have they started showing up in Fidelity? Post % raise, JG, and PIR.
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Well it looks like Canada is amongst the lowest merit increase again, like years before with 2.5%
Remember when Gretchen said, “We don’t want to contribute to inflation. If it is a problem, we will look back at inflation and make adjustments.”
Then, the next year inflation hit 9.1%. US raises averaged 3%. The message from Gretchen was, “We benchmark against our hand-selected peers to ensure competitive pay.” There was no mention of the prior years note saying they would go back and look at inflation.
Yup, those of us getting laid off can calculate this based on our severance package.
I haven't seen anything in the US checking the life insurance trick on netbenefits this afternoon, but either I got nothing, or it shows up tomorrow since it was a weekend. In prior years it showed up after the first business day of Feb of I remember right.
for the US, gretchen sent a note saying it all comes out on the 17th
or rather. an email that linked to that note
Since Feb 1-2 was the weekend, maybe the raises need to process overnight after first business day and will show up in Fidelity NB tomorrow.
@ag, good point. It seems that life in general, when it comes to anything finance related to an average person (bottom 99% that includes the top 20% excluding top 1%), has gotten SO MUCH HARDER than before COVID. Having to work even harder and having less to show for it.
Add housing payments and home/auto insurance and the inflation is off the charts.
I still don't see the update in my insurance on Fidelity US. I do see compensation changes for my direct reports.
Quick pay analysis since Covid now that the merit budget is out:
From 2019 to 2024 fiscal years, inflation has been a 126% in increase (assuming 100% at the start of 2019). The total U.S. merit budget has been 118% increase in the same period, and pay ranges/midpoints (still don't know 2025's) have increased only twice for about ~2.5% total.
Example 1: Person A with x years' experience entering the work force in 2019 pre-covid makes $100k spends $100 on a basket of goods.
Example 2: Person A with x+5 years' experience entering the work force in 2019 pre-covid makes roughly $118k and has to spend $126 on the same basket of goods.
Example 3: Person B joins in 2025 with x years' experience (same as Person A in 2019) enters the work force in 2025 will only make $102.5k and has to spend $126 on the same basket of goods.
It's really not that bad for Person A. Yes, inflation su-ks, but compensation only lagged by 6%. Person B gets sc--wed. I wonder if this is an HR 101 compensation strategy for corporates.
Can already see the life insurance trick in canada
It's effective Feb 1. Previous years it's shown up in Fidelity by Feb 3 or 4, unless they changed it this year.
Two country pay reports released so far. Looks like India merit budget was % and US merit budget was 3%
You’ll be able to see your new pay, retroactive to Feb 1, in your Feb 15 paycheck (you can figure out what your new pay is around Feb 12 if you divide your employer sponsored life insurance in half - it’ll give you a glimpse a few days earlier than you’d otherwise know). Bonus is paid out with last paycheck of Feb and any vested stock grants are paid out just before the March 15 paycheck.