Received my salary "increase" letter

[ToxicBunny]

Just got the promotion I applied for. No salary increase as I was already fairly high but I got a very nice chunk of shares as an extra bonus. Apparently thats how management level works around here. Salary stays the same but performance bonuses are much higher and you get shares too that are exercizable after 3 years. I have gotten very nice bonuses over the years and this years combination of shares and bonus was 240% higher than my previous best.

Nice dude... congrats.

 

[akescpt]

Just got the promotion I applied for. No salary increase as I was already fairly high but I got a very nice chunk of shares as an extra bonus. Apparently thats how management level works around here. Salary stays the same but performance bonuses are much higher and you get shares too that are exercizable after 3 years. I have gotten very nice bonuses over the years and this years combination of shares and bonus was 240% higher than my previous best.

Fsuck that's good. Congrats.

 

[supersunbird]

Forgot about this thread. I got 5% (its what I wished for)... yay!

 

[CamiKaze]

6.7%

 

[Garson007]

Of those complaining, how many of you earn more than R300k a year?

If you live paycheque to paycheque on that kind of salary then you're doing something very wrong.

 

[ponder]

Of those complaining, how many of you earn more than R300k a year?

If you live paycheque to paycheque on that kind of salary then you're doing something very wrong.

R25k a month does not stretch that far when you have a bond & kids in school.

 

[Mortymoose]

We gave our workers 10.5% fixed for two years..... way above inflation, but then we do tend to look at our entire workforce as one giant family..... save for the three *&^^% 's that are stealing from us....

 

[Diplos]

 

[supersunbird]

Of those complaining, how many of you earn more than R300k a year?

If you live paycheque to paycheque on that kind of salary then you're doing something very wrong.

R312 000 pa will give you R26 000pm before tax. A 5% increase on that will R1 400pm extra before tax and probably then R1000 after pension and PAYE deductions.

R26 000 is just not what it was even 5 years ago.

 

[AnibugZA]

After my first year I got a 2% increase because my performance was apparently "Just okay", but good enough to qualify for my full bonus.
After my second year I got a 1% increase even though my actual performance had been 3x better than the previous year and I had added a LOT more value, having finally reached a point where I knew what I was doing. But in my performance review I was rated lower than the previous year, and only got half of my bonus. I was very angry. With inflation and petrol price increases and etolls and food increases, I was effectively earning less than when I had started working there.

But, in retrospect I can't complain. At least I had a salary. Now I'm an honours student working three times as hard as I did when I had a job, living in a single room in a commune in Cape Town away from my hubby, on a bursary with a living allowance just big enough to eat. Woo.

I miss having an income.

 

[Garson007]

R25k a month does not stretch that far when you have a bond & kids in school.

Then why have a bond and kids?

If your bond is more than 20%, then the house just wasn't worth it.

 

[ponder]

Then why have a bond and kids?

Why you asking me?

 

[supersunbird]

Then why have a bond and kids?

If your bond is more than 20%, then the house just wasn't worth it.

Rent will be just as much or more and even more of a waste of money.

 

[Vis1/0N]

I wouldn't say its the unions that are fair and square to blame.

Not completely... But then the automotive industry got 10% for the next 3 years. The manufacturers staff striked for 3 weeks then their suppliers followed for 3 weeks in the time leaving no supply for the manufacturers. So the staff ended on short time after their strike.

6 weeks of no production from them have crippled us and we have not recovered. What is hilarious is that they striked for 2% more (offer was 8%) which over the 3 years will just make up the 6 weeks of lost wages. They had to dig into their savings and take our loans to make ends meet.

Truly dumb.

 

[Space_Chief]

This company thinks it's a f**king comedian.

Could have been worse. It could have been -25% or something.

 

[Space_Chief]

Truly dumb.

Short term yes. But these guys got satisfaction having Learjet flying bosses having to bow down to their demands.

And also longer term wise they showed that they can do it. It's a demonstration of their resolve.

Although there is often not much bosses can do, if the car business becomes too expensive in SA, auto makers will move offshore.

 

[akescpt]

Not completely... But then the automotive industry got 10% for the next 3 years. The manufacturers staff striked for 3 weeks then their suppliers followed for 3 weeks in the time leaving no supply for the manufacturers. So the staff ended on short time after their strike.

6 weeks of no production from them have crippled us and we have not recovered. What is hilarious is that they striked for 2% more (offer was 8%) which over the 3 years will just make up the 6 weeks of lost wages. They had to dig into their savings and take our loans to make ends meet.

Truly dumb.

Whose 'us'?

 

[Vis1/0N]

Whose 'us'?

Not speaking for the rest of the country... The company I work for provides services to a manufacturer and a couple of their component suppliers.

 

[Garson007]

Why you asking me?

Because you brought it up.

Rent will be just as much or more and even more of a waste of money.

Yes. I'm not suggesting not buying. I'm suggesting that you can buy a more affordable place.

I also have to clarify that I mean 20% of your monthly CTC salary.

 

[ToxicBunny]

Because you brought it up.


Yes. I'm not suggesting not buying. I'm suggesting that you can buy a more affordable place.

I also have to clarify that I mean 20% of your monthly CTC salary.

At R25k per month (CTC), you would only have R5000 to spend on the bond, that equates to roughly a R500k property. You can't get much, if anything, for R500k these days.