FY24 Pay Increase - How did you go?

Powershopz on 09/09/2023 - 09:03

I just got my annual remuneration review letter yesterday and have been left feeling very short changed. My salary is annualised and I've been with my company for 4 years now and have had a: 0% (COVID Peak), 5%, 5% increases the past few years and then this year only got a 2.7% salary increase. I went above and beyond the past 12 months busting my arse, putting in a bunch of OT and delivering on all my targets (same as the prior few years). In my annual performance review my manager couldn't fault me on anything and was marked as 'exceeds satisfactory job performance'. I was expecting a full 5% increase like the prior few years. My company generates about 550M revenue per year and faired quite well the past year with profits up 5.3%.

I flagged this with my manager and got told they could only afford the lower increase this year because of the 5.75% increase for staff on award rates.

With inflation averaging 6.7% the last 12 months stacked with so many cost of living increases, receiving only 2.7% has left me feeling very ripped off.

Did you receive a pay increase this year? How much and how do you feel about it?

Poll Options

  • 197
    0%
  • 7
    0-0.99%
  • 23
    1-1.99%
  • 58
    2-2.99%
  • 92
    3-3.99%
  • 87
    4-4.99%
  • 225
    5%+
Financial

Comments

  • avoidfullprice on 09/09/2023 - 09:07

    I feel the % pay rise is meaningless and the actual salary is what matters.

    % inflation is an indicator, but not as relevant as actual increase in my bills and my other expenses.

    So combining the two, I felt okay with the result. Did I bust my ass? Yes. Do I want more? Of course. Do I feel sad about it? Nope

    • mskeggs on 09/09/2023 - 09:19
      +16

      So if inflation was 6% and you got a 3% pay rise, but you earn $200k, so it was a sizeable dollar amount, you would be ok with it?
      I don’t think I am following. Are you saying the inflation rate isn’t a good indicator of your personal expenses so you need a higher or lower pay rise to remain on the same footing?

      • avoidfullprice on 09/09/2023 - 22:55
        +1

        I didn’t say inflation is not a indicator of my expenses. I do think inflation is not a good indicator for pay rise.

        If someone is on 60k and gets 6% payrise, but their mortgage repayment has gone up by more than 5k a year, they still wont meet ends need. 6% means little to combat inflation.

        The pay rise personally links to rewards, and like ops getting 2.7% instead of 5% feels shit. So while i have bust my ass like OPs and feel I deserve more, I’m not sad. Because i didnt put myself into heavy debts and need that 6% increase to remain on same footing. I can still afford to living.

        My salary is nowhere near 200k.

    • MagnusPaciscorHons on 09/09/2023 - 17:38
      +2

      As long as a boss pretends your salary is high,
      then pretend that you have much work to do,
      until greener pasture.

    • Name on 09/09/2023 - 21:13
      +2

      I agree. Like I got. 2.6% pay rise. Which took my pay from ~196k to ~201k. My living expenses didn't rise by $5k. I wasn't expecting anything as I'm at the higher end for my level of experience and I really don't think I'm worth that much.

      • dylanando on 09/09/2023 - 22:01
        +4

        casual flex,
        what field you in?

        • Name on 10/09/2023 - 13:33
          +2

          Transport modeller (civil engineering)

          • Drakesy on 11/09/2023 - 13:49
            +1

            @Name: Geezus thats a well paid modeller, ours were on around $150k.

            Basically dark magic wizardry with assumptions you can make up.

            Admittedly it is niche and there's only so many of them.

            • Name on 11/09/2023 - 19:05

              @Drakesy:

              it is niche and there's only so many of them.

              Yup. Difficult to get people into it too. Most grads / junior staff give it a go, don't like it and go into other areas.

              I've moved around consulting companies a bit which helped bump the pay up.

      • cmyk on 10/09/2023 - 09:30
        +6

        You forgot tax. That 5k increase is only about $2.5k.

  • jjjaar on 09/09/2023 - 09:20
    +50

    Leave. The best way to get more pay is to move around every couple of years. Loyalty means nothing these days. I guarantee you, they’re paying new employees more than you to get them in.

    • Powershopz on 09/09/2023 - 09:40
      +3

      Yeah, it's been on the cards for a while. I'm well underpaid at the current company I'm at and there aren't any opportunities to move up. Everyone above me has been with the company for 8+ years. Don't really feel like treading water in the same position for another few years. I've interviewed for a few roles in the past year and narrowly missed out on one of them which would have been a 30% pay increase.

      • netjock on 09/09/2023 - 12:32
        +3

        Now you know. Would you leave for +10% or +20%. Sometimes better to land a job paying extra 10% then go for another 10% in 2 or 3 years than sitting around and sucking bananas with the rest of the primates.

        • Powershopz on 09/09/2023 - 21:53
          +1

          Definitely keeping my eye out for any decent roles coming up. Would take 10% with opportunities in a heart beat.

      • virhlpool on 09/09/2023 - 22:50

        Everyone above me has been with the company for 8+ years. Don't really feel like treading water in the same position for another few years.

        This is a typical issue of most companies in countries with a relatively smaller size of economy, limited to a few industries. A low number of growth companies (or new start ups) mean less opportunities, and less opportunities mean that less people move around. Not great for employees.

    • Almost Banned on 09/09/2023 - 12:31
      +1

      That's how I got mine.
      The place I was at gave me 0% - so I moved and got myself 12%.

      • jjjaar on 09/09/2023 - 12:37

        Mine was giving me about 2% each year, but the remuneration included super so when I moved and super was on top, it was about a 25% increase.

    • Belts on 10/09/2023 - 12:50

      This.

      Was facing the same situation and accepted another role with a 35% increase. Then my employer countered with a higher position plus 23% increase. All things considered - experience, extra responsibility, my team, exposure, opportunities - leaving was still the better option.

      Good luck with it all.

      • bio on 11/09/2023 - 10:49
        +3

        leaving was still the better option.

        Leaving is always the better (only?) option once you disclose it to your existing employer. The higher position plus 23% was only temporary anyway; they would have started looking for your replacement rightaway.

  • Jimothy Wongingtons on 09/09/2023 - 09:20
    +28

    Y’all are getting raises?

  • Sinnerator on 09/09/2023 - 09:25
    +18

    In order to get a fair pay raise you need to change jobs, your employer is not your friend, they do not care about you

  • Some Human on 09/09/2023 - 10:01
    +1

    I got about 5%, because I threatened to leave and TBH I don't know what the company would do if I left.

    • onetwothreefour on 09/09/2023 - 10:07
      +31

      They would replace you within a few weeks.

      • Some Human on 09/09/2023 - 10:41

        They've been trying for 5 years to find another me. Unsuccessfully I might add.

        • Craze on 09/09/2023 - 11:24
          +2

          Did they offer you more?

          • Some Human on 09/09/2023 - 14:40

            @Craze: I got 3% at the start of the year, then got the annual 3% mid year that everyone gets. Think I might have done my maths wrong.

            • redfox1200 on 10/09/2023 - 02:44
              +2

              @Some Human: just leave and reapply for your position when they are hiring again. instant 50k payrise

        • Punknerd on 09/09/2023 - 21:51
          +3

          Hard to find a sucker that willing to work an unreplaceable role for that pay bracket.

  • onetwothreefour on 09/09/2023 - 10:06
    +4

    I typically only get 2-3% every year but I also get a bonus which is usually more than one month's salary.

    • bio on 11/09/2023 - 10:50
      +1

      If you get that bonus every year then it's part of your salary, not a raise. You still got 2-3%.

      • onetwothreefour on 11/09/2023 - 11:15

        yeah I guess so but the bonus is never guaranteed so you never know.

        • bio on 11/09/2023 - 13:13

          Fair enough, but still it is dependent on your/company's performance, not inflation.

  • El cheepo on 09/09/2023 - 10:07
    +1

    We got 6% on the base rate across the board.
    I wasn’t complaining before the increase, so 6% was a nice surprise.

  • Nugs on 09/09/2023 - 10:50
    +2

    0% x $0 = yep still $0
    .

    • KaTst3R on 09/09/2023 - 11:48
      +1

      you should have said 5% x $0 = $0

      • Nugs on 09/09/2023 - 13:32

        Well, I probably deserved 3% (meets expectations)
        .

  • Dack Smith on 09/09/2023 - 12:00
    -2

    No pay rise

    I am really incensed at the well-off mongrel desk jockeys that get the big bucks and big raises doing nothing.

    Australia is really becoming a land of inequality

    • brendanm on 09/09/2023 - 12:16
      +8

      You are free to join them? Though it is easier to just complain.

      • cookie2 on 10/09/2023 - 07:32
        +3

        I don't think it's as easy as saying ppl are free to do the same thing.
        We are not all born equal and we do not all have the same opportunities or the same challenges. I think it's important to recognise this fact.
        I do believe we can change our situations and make improvements/work to better ourselves but this doesn't mean everyone has in their power to join in on big salaries and increases.

        • cmyk on 10/09/2023 - 09:36

          That's right, it's not easy but definitely achievable if people are willing to put in a lot of effort and have the right attitude.
          I came from a poor country and worked my way up. Currently in the top tax bracket. Australia is a great country if you have a go.

        • brendanm on 10/09/2023 - 09:52
          +1

          You don't have to be a genius to make good money. There are opportunities everywhere if people choose to take them. Most choose not to.

    • cmyk on 10/09/2023 - 09:37
      +2

      Disagree, Australia is a land of opportunity if you have the right attitude and be prepared to work for it. Speaking from my own experience.

      • brendanm on 10/09/2023 - 09:49
        +1

        be prepared to work for it

        This is the part people don't like. They want equality of outcome, regardless of effort put in, rather than equality of opportunity.

        • mskeggs on 10/09/2023 - 10:17
          +8

          That is sometimes part of it, but a nursing home cleaner or a milk bar fry cook works much harder than me and earns less. Most high earners have been as much a product of luck, and compounding luck as they have a good break that opens up more.
          Telling a labourer who just lifted bricks for 9 hours that it is their reluctance to work hard is obviously not the thing preventing them from high earnings.

          • cmyk on 10/09/2023 - 11:06
            +1

            @mskeggs: Yes, some people are lucky to win the life lottery and are born with more opportunities than workers like us. There's nothing I can do about that and I'm not going to whinge about inequality.
            The point is it's not just about working hard, it's the mindset. I came from a poor country with poor parents who were labourers and they work hard and instilled good growth mindset in me. I worked hard and struggled in my early career but now reaping what I sowed. This may not be for everyone as some people simply wants to be cooks/cleaners. There is a way out if they don't as we are in a land of opportunity if they choose to pursue other things.

          • brendanm on 10/09/2023 - 12:16
            -1

            @mskeggs: The point is that they should have chosen to do something other than being a nursing home cleaner. They didn't want to study, didn't go into a trade etc. They went the path of least resistance, and continue to do so, when there is so much opportunity to upskill.

            • Belts on 11/09/2023 - 12:17

              @brendanm: That's not really true though. Some people can't afford to take time off to study or re-train. While it's nice to think that everyone could apply the opportunity cost formula to deciding whether or not to pursue further education and come to the conclusion they will earn a higher income afterwards, if they can't meet their immediate needs due to lost earnings whilst they dedicate time to study/training (especially with housing and food so expensive now!), then the decision is pretty much made for them.

              • brendanm on 11/09/2023 - 13:20
                -1

                @Belts: You can study and work, that's a cop out.

                • Belts on 11/09/2023 - 13:33

                  @brendanm: If you say so.

                  • brendanm on 11/09/2023 - 14:14
                    +3

                    @Belts: People do it all the time. My wife is currently doing a uni degree while working full time. Making excuses doesn't get you very far sadly.

                    • Belts on 11/09/2023 - 15:12
                      -1

                      @brendanm: If you say so.

                      • brendanm on 11/09/2023 - 15:17
                        +1

                        @Belts: Ok, you don't want to try, that's fine, just don't complain.

                        • Vanceer on 11/09/2023 - 16:01

                          @brendanm: You don't need to respond to comments that you think are people complaining. The world doesn't revolve around you and your anecdotal stories.

                          • brendanm on 11/09/2023 - 16:29
                            +1

                            @Vanceer: There are lots of things I don't need to do. I chose to do so. You didn't need to respond to me responding to that guy, but you did, and that's ok.

    • Belts on 10/09/2023 - 12:59

      Yes. My do-nothing desk jockey job is so invaluable to the multi-billion dollar company I work for and add value to, that they feel it’s not worth the money they remunerate me each month.

      Riiight.

  • Wiadro on 09/09/2023 - 12:02
    +1

    50%

  • netjock on 09/09/2023 - 12:31
    +2

    It depends on how much you are on.

    2.7% on $250k is a lot better than 5.75% on like $50k.

    • cmyk on 10/09/2023 - 09:42

      Not really, it's about the same because of tax. At $50k, you may pay net zero tax (when you consider the benefits that you receive). At $250k, you lose half straight away.
      Having said that, of course overall $250k is better but from an absolute number perspective in this specific case, the pay increase is about the same.

      • mskeggs on 10/09/2023 - 10:19

        But a very meaningful raise on $50k, but a rounding error on $250k.

      • Juice-Wa on 11/09/2023 - 07:43

        Pros to that is the every dollar of tax deductions returns you 50c

      • Vanceer on 11/09/2023 - 16:43

        It's not the same. The numbers don't matter when cost of living is increasing, and the $50k earners (which are a majority of earners) can't afford to save anything.

        Someone earning $250k gets other benefits that reduce their tax while passively earning wealth, and living comfortably. They also don't lose half, but roughly 35% with Medicare levy.

  • Benoffie on 09/09/2023 - 12:58

    Well, considering we're striking and now the second lowest paid teachers in the country (QLD lowest then SA), I think any movement to competitive salaries would be great.

    However, people are too busy teacher bashing and telling me about all the holiday I get (which are unpaid), to actually listen…

    sigh might see some movement in 2025 knowing how it goes 🤷‍♀️

    • Worf on 09/09/2023 - 14:39
      +3

      Starting salary for a qld ed teacher, is $81,628… even if you are unpaid over holidays, that seems like a good rate for a 40 week year… and that’s the floor, there are some loadings on top of that, plus increments with experience. Also, I don’t think qld teachers are second lowest paid in the country… not at the starting rate anyway.
      https://teach.qld.gov.au/teach-in-queensland-state-schools/p…

      Starting salary for nsw ed teacher is $73,737.
      https://education.nsw.gov.au/content/dam/main-education/indu…

      Starting salary for vic ed teacher: $76,484
      https://news.aeuvic.asn.au/app/uploads/2022/02/T122_VGSA_Sal…

      Edit: sorry misread your first part… you’re in South Australia. Bit hard to interpret the pay scale for SA.
      https://www.education.sa.gov.au/docs/p-and-c/employee-relati…

      • Eeples on 09/09/2023 - 16:44
        +1

        Starting rate for NSW teachers is $85000 from October this year.

      • Benoffie on 09/09/2023 - 16:59

        If you're not permanent, your casual. Most TRTs/contract teachers are lucky to crack $60k. Large portions are on $30-40k.

        Pay is an issue. But lack of permanent positions is a bigger problem.

        Id take a permanent job over a pay rise. One of the many reasons people bail.

        • Worf on 09/09/2023 - 18:46
          +1

          Oh gees, that’s depressing, 4 years of study and struggling to hit $60k and/or job security (permanent). Also a lot of responsibility managing a class room. I know teachers don’t enter the profession for the money, but that’s rough… a starting rate of mid 70s to low 80s seems more appropriate. I guess the other part is the ceiling.

          Maybe we should have done engineering instead and/or FIFO mining.

          • virhlpool on 09/09/2023 - 22:58
            +1

            @Worf:

            Oh gees, that’s depressing, 4 years of study and struggling to hit $60k and/or job security (permanent).

            And then they say there's a severe shortage of teachers. I don't get how this works. Doesn't a shortage mean that most teaching course graduates (or at least the deserving ones) should land a decent paying job?

        • Eeples on 10/09/2023 - 01:27
          +1

          You say you would take a permanent job but you won’t move.

          Go out to outer suburban or country areas… plenty of jobs…. Transition?

          Casual teachers are not full time…

          Tier 1: $358.32 per day
          Tier 2: $376.79 per day
          Tier 3: $395.28 per day
          Tier 4: $413.74 per day
          Tier 5: $432.28 per day
          Tier 6: $450.75 per day
          Tier 7: $469.22 per day
          Tier 8: $494.22 per day
          Tier 9: $519.69 per day
          This information is accurate as of 13/05/2022,

          On these numbers a beginning teacher in SA could work 100 days (6 months of a calendar year) get $36k and chill. It’s a lifestyle thing.

          • Benoffie on 10/09/2023 - 01:47
            +7

            @Eeples: Oh I just love the piling on. Sure, ill get my partner to quit his career and pull my family out of school so i can teach in a country school.

            Last year, SA offered less than 500 permanent positions. This year, it's been less.

            Tell me again how we're all bludgers because we wont become nomads. Strangely, I note few others are willing to ever do similar to their families, hence they cant even fill FIFO teacher roles.

            And, not that I should have to justify myself but I have taught years in Cat 1/2 schools specialising in learning support, autism, EALD and more. I've done my time 'out in the burbs' and I should be able to put my family first instead of travelling hours daily, being hit by students, mugged in the staff carpark and abused by parents.

            • Eeples on 10/09/2023 - 11:10
              -4

              @Benoffie: It is hard to rationalise a teacher shortage with what you are asserting regarding the lack of permanent positions.

              And, actually, if it isn’t worth you moving you and your family to the country or where ever for a permanent job… then you don’t need a permanent job that much.

        • Eeples on 10/09/2023 - 01:29

          ….where is there a lack of perm positions?

          What positions? PE?

      • Thaal Sinestro on 10/09/2023 - 04:31
        -3

        The starting salary soon rises to $120,000 though. On a new site I read about a middle aged teacher who owned around 18 houses. So much for being underpaid. Ah, found the link: https://www.news.com.au/finance/real-estate/buying/former-mu…

        • Eeples on 10/09/2023 - 11:48
          +2

          Starting salary does not soon rise to $120k

  • th123 on 09/09/2023 - 13:13

    3

  • Trying2SaveABuck on 09/09/2023 - 13:21
    +8

    LMAO if we put in inflation im pretty sure im taking a 'pay cut'

    • Worf on 09/09/2023 - 14:48
      +4

      I think the vast majority of us have!

    • Worf on 09/09/2023 - 19:05
      +2

      Heard some professions have received a pay rise (3-4%) and an additional cost of living adjustment (capped at a maximum additional 3%, based on CPI print). Which kind of makes sense if inflation is transient and costs return to pre-pandemic levels; however, i doubt deflation will occur… in which case wages will be down in real terms (purchasing power) after cost of living adjustment payments end.

      Anyone here have a cost of living adjustment built into their enterprise bargaining agreement? If so, thoughts?

      • So Was Red on 11/09/2023 - 20:21

        Yes, stoked, and I think they regret it

  • 87percent on 09/09/2023 - 13:23

    4.7% for me. My bonus was more than I was expecting though

  • Help on 09/09/2023 - 14:05
    +1

    Where is the negative option? I went back -0.5%

  • JimmyF on 09/09/2023 - 15:24

    5+% is the highests? Hmmmm I got 62% this year!

  • Clear on 09/09/2023 - 15:36

    18% increase after asking for 20%.

    • Sal in SA on 09/09/2023 - 15:54
      -2

      Wife got 20%+ - looking forward to stage 3 cuts.

  • Nitrollparty on 09/09/2023 - 15:57

    yep, 60c payrise, frothing……………

  • Save Medicare on 09/09/2023 - 16:11
    +1

    4%… Thanks NSW Labor

    • Eeples on 09/09/2023 - 16:46
      +4

      8%…. Thanks to NSW Labor.

      …maybe you ought to throw some blame at your union?

  • B00stJuice on 09/09/2023 - 16:56

    I got like 4.7 percent which I was incredibly happy with.. A lot of my co workers said they felt "short changed"

  • MagnusPaciscorHons on 09/09/2023 - 17:32
    +3

    The pay packet is just the bribe your employer
    gives you to forget your dream. So don't give up on your dream.

    • AustriaBargain on 09/09/2023 - 18:33

      What if your dream
      is to get a bigger pay packet?

      • MagnusPaciscorHons on 09/09/2023 - 19:26

        If the ultimate dream doesn't inspire you,
        then it's too small.

    • Eeples on 09/09/2023 - 21:26
      -2

      Well everyone is underpaid.

      If not, then the business could do without you.

      • MagnusPaciscorHons on 10/09/2023 - 14:14

        To get low pay is a starter but not the end; yet finally being a free agent is wonderful now
        — and that dream didn't become reality through magic;
        it took sweat, determination and hard work —
        from the grubby ground up doing
        what almost no one else would care to do.

  • serpserpserp on 09/09/2023 - 17:40
    +1

    I know someone that just got a 11% pay rise out of the blue. Then we told the three should be able to get more EOY (December for them) not a bad deal is they get another 5% or so.

  • ldt on 09/09/2023 - 18:32

    I changed jobs in April that got me a 13% increase. 2 months later I got 4.5% yearly. Can’t complain!

  • cute as duck on 09/09/2023 - 18:44

    Between December 2022 and June 2026 we have/will receive the below increases:
    * 3 per cent already paid from December 2022;
    * 4 per cent already paid from June 2023;
    * a proposed 3 per cent increase from June 2024;
    * a proposed 3 per cent increase from June 2025; and
    * a proposed 3 per cent increase from June 2026.

    • Eeples on 09/09/2023 - 21:27

      You happy with that ?

      • cute as duck on 09/09/2023 - 22:42

        Not really. I think better than most. Fortunate to work in industry where super is 17%. That's pretty much what's keeping me where I am.

  • MelbEng on 09/09/2023 - 19:43
    +1

    You are only feeling short changed because you have been given generous 5% pay increases in the past. As the survey shows, the majority of people got 0%, so you need to be thankful.
    I have worked in various professional roles over the past 20 years and if I was lucky enough to get an increase, 1 to 3% was normal.

    • serpserpserp on 09/09/2023 - 21:41
      -3

      In fact, one could say those generous rises contributed to inflation

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