by Ashley
Happy Friday, friends!
Just peeking in quickly today with some fun news…I got a raise!!! Wahoo!!!
My university is implementing institution-wide raises for ALL benefits-eligible employees as a way to try to address the compression that our university experienced during all the rough recession years and increase salaries to be competitive with other large research-1 universities. The mandatory raise was announced a few months ago, but the minimum raise figure was only $500/year. My department head has been working with our business manager to try to figure out the raises internally for my department. $500 is the mandated minimum, but my boss wanted to provide raises for everyone of much more than that (anything over and above the $500 minimum was performance-based).
It took some time for them to work through the details, but I just received notification that I’ll actually be receiving a 3% raise – significantly higher than the minimum $500 that was required.
SO YAY!!!
The raise doesn’t go into effect until September and, spread across the entire year, a 3% raise doesn’t come out to too much more per paycheck (and, turns out, is a pretty average sized annual raise according to here and here). But even so, I’m excited. It’s great to have only been there for one year and already be recognized for my contributions, receiving a salary boost commensurate with my performance.
That’s it for now. Just had to give you guys the fun Friday morning news! I hope you have a great day!
Do you receive annual raises? What (%) does your typical raise look like?
Hi, I’m Ashley! Arizonan on paper, Texan at heart. Lover of running, blogging, and all things cheeeeese. Freshly 40, married mother of two, working in academia. Trying to finally (finally!) pay off that ridiculous 6-digit student loan debt!
Awesome news, Ashley! My university does across the board 2% cost of living increases on July 1st every year for staff. I am not sure how they handle faculty increases, but I assume it has more to do with performance and is an actual raise vs cost of living increase. For me, the 2% is an extra $20/paycheck. Not enough to make me a millionaire, but definitely appreciated!
The public library I worked also gives an across the board cost of living increase each year, usually 2%. However, since the university upped their minimum wage to $10.15/hour (from $7.25) the PL knew it had to increase the starting wages to be able to compete for good employees. So everyone got an additional increase of 75 cents/hour.
You’re lucky! We’re supposed to but didn’t last year (of course, right after I moved here) and so far this year aren’t getting one. I won’t name the university…but I will mention that our state hasn’t had a budget in 2 years! 🙂
I can relate because I am pretty sure I reside in the same state (sigh). I have lived her 2 years and I knew the state government and departments had problems, but ….I moved from a state that had a $1 Billion dollar surplus and was trying to figure out how to best spend the money. Yeah, not a problem to have. I can name that state. Minnesota is/was a fine place to live!
Well, let’s hope it gets better soon! I just bought a house or I’d look at jobs in Minnesota! *looks anyway*
*not a bad problem
Congrats!