Pay rises

[flounfer]

Hopefully this won't come across as insensitive but I am wondering what pay rises if any people are expecting this year? On the one hand we are told it will make inflation worse but then bankers have had record bonuses & Ive seen some posts on here taking about double digit % pay rises. Mine is 2%, better than nothing obviously but not much help.

@Bananarama21

2.4 percent its insulting tbh like some people said it will get to the point people can't afford the petrol to work. My husband got a reasonable pay increase by 2 pound an hour plus bonus.

Ha! Insulting, more like be grateful. I'm getting zero and and next yr and a bonus stopped too. If my union fights for fair pay, you along with rest of Joe public have no problem telling us we don't deserve one and we are paid too much. That's insulting! You never see public supporting people fighting for fair pay.

So quite frankly jog on and stop moaning that the layrise your getting or your oh us getting is insulting. Cos noone would be sticking boot in to tell you or your OH thst you don't deserve it or your lazy and incompetent

@TheDoveFromAboveCooCoo THANKS!

Yes I did a little happy dane yesterday when I saw the email yesterday at work, it will make around £100 pm difference to my salary. Paying around £450 pension has creased me on my part time wage being pensioned as if I earn nearly 50k when I earned around 15k less was crazy.

Public sector. 0% this year, 1% last year, 0% each year for 5 years before that. The union are calling for a strike, which I'm sure will be unpopular politically with private sector workers. I'm retraining for a job in a different sector.

[quote Fifthtimelucky]I'm a bit surprised to see the teachers here say they aren't expecting a pay increase this year.

I haven't read the whole thing, but this suggests that Government is proposing big increases for new teachers, but that pay for UPS teachers will go up by 5% over two years - 3% this year and 2% the following year. Nor as good as for NQTs, but better than 0%.

www.tes.com/magazine/news/general/dfe-sets-out-plan-ps30k-teacher-starting-salary-2023[/quote]
Guardian has a slightly different take on it www.theguardian.com/education/2022/mar/11/senior-teachers-will-endure-long-pay-freeze-under-dfe-plans-study-finds

@FiremanSid

Public sector. 0% this year, 1% last year, 0% each year for 5 years before that. The union are calling for a strike, which I'm sure will be unpopular politically with private sector workers. I'm retraining for a job in a different sector.

Yup of course it will be unpopular. How dare we receive fair pay. Only private sector employees are allowed that privilege and the privilege to moan how it isn't high enough without an entire population hating on them

@flounfer

Hopefully this won't come across as insensitive but I am wondering what pay rises if any people are expecting this year? On the one hand we are told it will make inflation worse but then bankers have had record bonuses & Ive seen some posts on here taking about double digit % pay rises. Mine is 2%, better than nothing obviously but not much help.

Don't believe everything you read. I work in the City and know several big name banks where bonuses were down and they never every give pay rises (unless you're promoted and that is incredibly difficult to achieve).

We also don't get pay rises where I work. Which given the increasing inflation rate is pretty dire. On the positive side, my employer has just matched $2 million of staff donations to Ukraine with another $2 million. I'd rather they did that than give us pay rises.

I got 6 percent on my base salary, plus guaranteed commission for three months. Which doubles my pay for three months. It's insane, I don't know why. Very fortunate.

Don't believe everything you read. I work in the City and know several big name banks where bonuses were down and they never every give pay rises (unless you're promoted and that is incredibly difficult to achieve).

It was based on what I'd been told by those in the industry.

About 10p per hour. I'm just above minimum, working in a school.

I found out today that I am getting 3.5%. I had hoped for slightly more, but am certainly not going to complain. A raise is a raise.

@Festivalpartygirl

8.75% but I moved paybands 18 months ago, I’m at the lower end, should get fairly decent pay rises until I catch up provided my appraisals are good, people at the top of their paybands only got 2%,

Your company shared this?that is really open and transparent

Don't believe everything you read. I work in the City and know several big name banks where bonuses were down and they never every give pay rises (unless you're promoted and that is incredibly difficult to achieve).

Would you say the bank base is reasonable ? Appreciate it is long hours though after 5 years it is six figures and I guess VP levels are £200k base?

DH 13% this year following 11 years of 1%. 9% for me but it's not been confirmed yet. Mine will likely come at the end of our financial year in August.

DH has been told he won't get a pay rise.

I have two small part-time jobs. I was to surprised one is giving us a 5.5% pay rise, but I think it's because they like to give us something above minimum pay - we had three lots of redundancies last year and still not taking anything near pre-lockdown monies. I suspect my other job will be more like 1.5-2%.

Private sector, 0% and our outgoings have almost doubled from this time last year.

Sailing far too close to the wind now and there's nothing left to cut back on.

I am not expecting one as had two in the last year which were fairly significant due to promotion. However the whole company are getting a bonus in May.

1.75% increase

Still waiting on any info on a rise from our bosses. Same with a usual company performance based bonus.

DH had a 5% cut in 2020 and a further 2% in 2021. They've all just been given a 10% increase to pay it back to staff.

Hoping to be made redundant this year so 100% pay cut

Haven't discussed with the PM but off the top of my head, I think nurses working under AfC so 'central NHS' in England are negotiating but government might have offered 3% so in real terms a pay cut on top of previous years' real terms pay cuts. Primary care less than that probably as think NHS haven't increased the contract. Salaried GPs will probably get 2-3% less though think this might still be subject to negotiation. Presumably partners income will be cut rather than increase given the increases in salaries, NI and other costs without an increase in practice income and the 'hidden' changes that will reduce income from vaccinations and QoF. Deliberately haven't looked as busy with trying to recruit GPs, ANPs, PNs and others. Odd we can't recruit and have more staff leaving as apparently it's money for old rope, working PT if they will work at all. Next practice along handing back their contract and another locally have said they'll bite the bullet soon, start a 'private' practice and locum.

Many non HCPs will be worse off in % and absolute terms. It seems the 'Pay peanuts and get monkeys' applies in some jobs ...

Are UK MPs getting at least £2,200 (2.7%) plus all the revenue MPs can accrue to them and their family where that happens. All in line with the appropriate guidance. Think I saw they parked the outside earnings restrictions so free to earn more outside too. Did one earn c£1m providing legal services? To be fair, there are some medics and nurses doing shifts.

Do think the statements about pay restraint from people on £600k plus with all the wealth accumulated from a working life of relatively superior pay might have been a little ill-judged, even if the economics might stand up. Might have thought about the messaging,

DH is getting 5.5%, he earns well under the national average but we’re incredibly grateful for the raise!

@Zilla1

Do think the statements about pay restraint from people on £600k plus with all the wealth accumulated from a working life of relatively superior pay might have been a little ill-judged, even if the economics might stand up. Might have thought about the messaging,

Yes. He is a terrible communicator (Bailey)

Always has been really. Was even worse at the FCA.

Problem in his case, is that he waited far too long to raise interest rates to control inflation.

Now, he sees the writing on the wall: he will get the blame for the economic damage that is coming our way due to high levels of inflation.

This is a person who cares a lot about his reputation and how he is perceived (the mini bond misseling scandal that he presided over while at the FCA highlighted this readily).

So now he's all over the place, desperate for nominal wage growth to be kept down for his own personal reputational benefit.

@BambinaJAS Indeed though I suppose he'll blame energy and other external, non-anticipatable factors. I'd not given much thought to how well interest rate rises control inflation back in the day though now, I'd be interested in the proportion of the drivers of inflation this time that are external and in effect less influenceable by domestic interest rates like energy prices and which would 'wash through' after a year.

I expect he wouldn't start from here though the energy price rises might always have been a slumbering beast waiting to wake.

Hard times.

I know the MPC (and HMT officials and politicians looking at tax and benefits) will look at the economics though most will be relatively wealthy or insulated from feeling the effect of rate rises in the way a non-working benefits recipient or someone on NMW and benefits will feel every day.