Salary increases

Hamster said:
Well if you get segregated with the right people...
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Dude, there is a certain individual in that team who barely has any experience yet hes a team leader/"senior". His experience ranks him around junior level.
 
semaphore said:
Yes tax is painful, very much so. But i got 10% last year.
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So, let's say 55k + 10%. So, now 60.5k, an increase of 5500. Tax off that increase is -35% (I guess, I haven't checked), so you get out R3,575 extra per month. CPI (on 55k) is 3,173 odd. So your 10% increase ends up actually rendering you a lifestyle improvement of R400 per month.

That's not nothing sure, but 10% sounds a lot better than R400 a month extra. Then factor e-Tolls and whatever other new NHI crap into that? Am I nuts?
 
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Hamster said:
Bare in mind that SARS raises the income tax brackets every year so you pay less tax on the same amount as the years go on. But you're right - CPI increases are BS (and this goes for miner and metal worker salaries too - those guys actually earn **** all)
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I didn't know that, good point. And yeah, all those miners just about killing themselves over 12%. I'm getting a seriously bad attitude about corporations these days.
 
semaphore said:
Dude, there is a certain individual in that team who barely has any experience yet hes a team leader/"senior". His experience ranks him around junior level.
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This sounds like an IT company. Do share.
 
Modeus said:
So, let's say 55k + 10%. So, now 60.5k, an increase of 5500. Tax off that increase is -35%, so you get out R3,575 extra per month. CPI (on 55k) is 3,173 odd. So your 10% increase ends up actually rendering you a lifestyle improvement of R400 per month.

That's not nothing sure, but 10% sounds a lot better than R400 a month extra. Then factor e-Tolls and whatever other new NHI crap into that? Am I nuts?
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Well NHI has not been setup yet and hopefully i will be out the country by then. I also dont pay etolls as i dont travel high ways, and i am also almost finished paying my car off which will be an extra 6500(shush) in pocket.
 
Modeus said:
Let's use this one as an example. Someone tell me if my reasoning is wrong please.

A 7% increase for 2013, where CPI was at 5.77%. So, a "gain" of 1.23%. However, the increase is gross, before tax.
Tax is like 35% or something. So, even with a 7% increase, you're not maintaining.

No?
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Its wrong. The value of the payment to SARS drops too.
 
HavocXphere said:
No thats something else messing with your tax there. Your (nominal) tax will never go down on an increase.
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Ah nevermind it didn't. But my company pays more tax monthly, so our 13th cheques are not taxed.
 
Co avg was 6% ... increases are done annually in March ... it's been around inflation for the last few years.
PS: only have a performance bonus (once a year and it averages around 75% of a regular month - it depends on the co's and dept's performance as well).
 
Modeus said:
So, let's say 55k + 10%. So, now 60.5k, an increase of 5500. Tax off that increase is -35% (I guess, I haven't checked), so you get out R3,575 extra per month. CPI (on 55k) is 3,173 odd. So your 10% increase ends up actually rendering you a lifestyle improvement of R400 per month.

That's not nothing sure, but 10% sounds a lot better than R400 a month extra. Then factor e-Tolls and whatever other new NHI crap into that? Am I nuts?
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Remember that the normal basket of goods in CPI is mainly around things like groceries and utility bills. If those factors go up by 6%, it still probably isn't r3500 worth unless you really can't manage your finances. I doubt you could do a straight comparison on your finances and show that, like for like, you actually ended up with only r400 more net on a R3750 increase.
 
What is this "salary increase" everyone's talking about?

Our boss usually just raises salary when they feel it's deserved(or somebody wants to leave), but it's also more than 10%.

I wouldn't say it's a bad thing, but definitely a bit unusual though.

Since I began, my salary has close to tripled in 2 and a half years. Granted, I started as a junior.
 
Here 0% - non performer

2% - Met all expectations
3% - Above expectations.
 
What is this salary increase you speak of?
 
semaphore said:
7% on a (ball park)55K+ salary., and 100% bonus last year.
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I thought you were making at least R80k.

I know a few guys that are making more than that, but are not as knowledgeable and experienced as you are.:p
 
In the company I work in, a raise is a swear word

You get it based on a whole load of criteria that are seriously stacked against you. If you get one, then you are the boss. Hope she doesn't read MBB else I'll never get a raise. Oh wait :P
 
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