I found out about 3 months ago that we were going to be getting raises. This came as a total surprise because I'm only in year 1 of a 3-year contract. Apparently, management realized that there was no continuity to what everyone was making. It varied quite a bit based on when they were hired. They decided to switch to a 3-tier scale based on years of experience and adjust everybody's pay to get them onto that scale, giving everyone some degree of a raise in the process.
The new contract actually went into effect July 1 but we weren't able to set up a meeting to review the new contract until today. Once I sign it, they will pay me the higher rate retroactively to July 1.
Anyway, the main changes are that:
1) my base salary went up 3.55%
2) my bonus went up 14.5%
3) my bonus is now spelled out in the contract; it was not previously, so they are now contractually obligated to pay it.
When you add it all up, assuming I earn the full bonus (which I always have), I will be grossing about $670/month more which is a nice chunk of change. Most likely my pay over the next 3 years will remain the same, but I see absolutely no problem with that. I'm very happy with the new number (I was happy with the old number too).
Got my raise today!
July 31st, 2018 at 11:17 pm
August 1st, 2018 at 02:15 am 1533089702
August 1st, 2018 at 02:20 am 1533090034
August 1st, 2018 at 02:54 pm 1533135293
August 2nd, 2018 at 12:46 am 1533170764
If I would have had to make a decision to just cut ties with the old job and jump into the new one all at once, I'm really not sure if I would have done it.