Reply With QuoteWe pensioners have been pooed over from a great height. The state pension is rubbish to begin with and all we will be getting in April is a 3 point something % increase.
This was my main takeaway from this year. Don’t earn more than your boss and still have the audacity to moan. Glitch or not, just smile and nod, agree with everything. Much easier.Originally Posted by FK77
We pensioners have been pooed over from a great height. The state pension is rubbish to begin with and all we will be getting in April is a 3 point something % increase.
Pretty sure they're unaware. I hope they aren't on this forum...
In 2021 I got a £500 ‘bonus’ on which I lost a a substantial part in tax. Then got a 3% pay rise. Had been 1% and only got raised after NHS England gave 3% across the board.
Not expecting much at all next year
I get reminded what my YTD commission is Vs what my OTE is meant to be each time I moan! He knows to the penny.
He’s definitely not the forum type so hopefully I’m ok!
Getting a rise due to a new pay structure being rolled out. Equates to 4% so I’m happy with that.
I remember whilst wearing the green suit getting a 3.5% pay rise and the Brigadier getting a 9% rise. It would have been bad enough if we got the same percentage as the difference between our wages was expanding. Also I was getting £3.13 a day overseas allowance, where he was getting £44 a day. Gradually the overseas allowance dwindled to almost nothing, and squaddies saw little point in serving in Germany, or in the Army altogether. I read recently that we have one of the worst state pensions in Europe.
I take it that you are not considering the asset appreciation in this calculation!?
At our place some are getting more and some less or none if they are recent starters. Average increase is 5% which feels about right.
However the more talk of inflation etc and any increase starts to feel mediocre!
3.5% from Jan, negotiated by the shop floor union which we're not allowed any part of. They got there's in Sept, us white collar get the same from next month. £500 Xmas bonus too. Can't complain, in work, never furloughed, could be worse
Inflation has risen so rapidly over the last quarter that 3.5% was probably appropriate at the time of your union negotiations, and to keep your living standards on par.
Of course it could be worse, and glad you are happy, but with RPI now at 7.1% you have now effectively taken a 3.6% pay cut.
If you want to become poorer.
BoE forecasting inflation will only get worse through Spring and CPI to hit 6%, meaning RPI and real inflation will be 8%++
I fully expect to be offered no more than a 3% pay rise early next year, so you are doing better than me.
This will become a broad devaluation of living standards in the U.K. without anyone noticing or complaining.
Can you imagine the fuss if income tax was raised by 1 percentage point!
All guess work for sure - as for people not noticing or complaining, I think that is wide of the mark.
When you look long into an abyss, the abyss looks long into you.........
Don't expect big, I expect there will alot of leveling up to be done after re-invent, with it being on discipline managers only this year I can't see there being a huge amount to reward folk for good performance over level up over discipline, squad leads have no say. Plus refining needs to catch up to historic upstream
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Can somebdy translate this please?
When you look long into an abyss, the abyss looks long into you.........
The people that know, know
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It is no guesswork that if you are getting a pay rise less than inflation, your living standards will generally decline.
Sounds like oil & gas industry talk but that’s about all I could decipher. Won’t be surprised if even that was wrong 😂
When you look long into an abyss, the abyss looks long into you.........
Additional benefits aside, in my experience people from your industry have never been underpaid. Well done for that BTW, but there are levels of living standards. It's not an 'accross the board' thing.
When you look long into an abyss, the abyss looks long into you.........
Probably not far wrong!!!!
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I know. At age 53, and with 16+ years of service all I want is for voluntary redundancy to come around again.
It was just a bit too early for me when it happened 18 months ago.
I don’t want to personalise stuff, but we all generally live to our means.
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Amen - always!
When you look long into an abyss, the abyss looks long into you.........
Next year will see me start a new job, the salary is higher, but the hourly rate lower.
I’m moving from part time to full time, but my benefits package is better, and hopefully my happiness which I can’t put a price on.
Completely see your point. But perhaps it is a vicious cycle. Employers give all employees a 10% pay rise. What happens next? The company put their selling prices up to remain viable / profitable. What happens next? More inflation….then more requests for pay rises etc etc. Repeat across multiple industries. All this whilst raw material prices have been going through the roof and multiple supply issues for many businesses.
Of course over simplified but don’t think anybody wants a hyper inflation scenario to play out.
Government have printed extraordinary amounts of money and hence debt. They will tell you that they target 2% inflation, but 7% inflation is extremely favourable for eroding humungous amounts of recently printed Government debt, and servicing debt when interest rates is 0.25% is easy peasy.
All Government care about is debt, otherwise we will enter a deflationary spiral where Government debt and private debt cannot be serviced.
Look after yourself. If you are a saver the Government is out to destroy you, because this is mutually incompatible with their requirements.
As you know my predictions were pretty good last year so I predict another round of expressions of interest in early ish 2023.
Chewitt, yes I know exactly what you are talking about I also understand there is an additional pot for retention bonuses to be awarded next year. Especially seeing that reinvent share allocation has missed the workhorse community of G's but let wait and see.
Surely inflationary rises take place after a period (usually a calculated year) of inflation?
It's just a matter of time...
I never bother worrying about my state pension as it’s never going to be life changing. My outlook was work hard, make your money, pay off your mortgage have no debt and make sure your state pension affords your needs for recreation spending money, do that and you have no worries
How much is your employment-based pension going up by? Is it defined benefit?
I’ll assume your SIPP did very well - if you have one - this year?
Isn't what you describe precisely the 'plan' according to official sources... use the hard won Brexit freedoms to transition the Country to a high wage, high skills economy, levelling up formerly disadvantaged regions along the way, baking in inflation maybe even hyper inflation... tangible details for accomplishing said plan have been a bit thin on the ground, more a wish even a fantasy but then that's Brexit innit.
Last edited by Passenger; 26th December 2021 at 10:45.
What happens to all the low/unskilled workers that don’t work for banks, shops and insurance companies in the meantime, fuel, rail tickets, mortgages and raw material cost are all going up, its heading for a train crash
That's a Middlesbrough thing, isn't it? I have a vague memory of Bernie Slaven doing that a few years back.
I wonder which industries/areas *are* seeing the big payrises? Mine will probably be below inflation next. I guess if it's the lower paid jobs that are seeing the increases and we see a closing of the income gap, it's not such a bad thing.
edit: ah, I see I'm replying to a post from like 1993.
Last edited by barneygumble; 26th December 2021 at 11:52.
That's a jolly good question and seems likely to end messily as you say. I believe quite a few of the low skilled have returned to Europe.
Certainly considerably below inflation rises here.
I’m curious what government are going to do with the energy price cap though for instance when that comes up for review.
Find out in a few weeks but already at the top of my pay band so anticipating I’ll be weighted more towards a higher bonus.
1% last year, find out on Jan what the latest effort is but I’d love to know where these pay increases are that outstrip inflation
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No pay rise going into my third year. Hit my (pre-C19!) sales target again, but the boss isn't happy. He's never satisfied. Nor am I, though. I've been literally working from my apartment for 2 years since "the virus" and am now actively looking for another job/try to to move sector. At 38 I'm not old but can literally hear my speedmaster ticking rn.
Being in drawdown I’m going to award myself 0% and see how I go. Council tax, fuel all going up but Ill miss out on The NI increase. Wife’s pension will go up 3% or RPI whichever the lower.
I feel your pain. I hit my annual target for the third year in a row (just over £2m) and I'm only getting rewarded because over half the sales team have quit. Even so, my new basic is less than what my former colleagues left to get and I've just seen my target for this year which is flat out unachievable. We're changing from 4x quarterly payouts to an annual payout which only really kicks in once you hit 70% upwards. Means I'll getting a savage pay cut for Q1 and Q2 to then earn the real money around Q4 (if I can hit target). Not ideal.
All being well I should be off at the end off at the start of March. Best of luck in your hunt.
So I suspect that means people will hang around to get their bonuses and then will be off. Company shoots itself in the foot.
My Q4 payout is due in Feb...
I haven't had a payrise since 2015. I don't think anyone (working for my employer) in the UK has either.
Have started to hound my manager, if nothing substantial is forthcoming, I think it's time to walk.
Couldn’t work in sales, sounds like my idea of hell!
Well I suspect your company will be hiring in bulk in March!
We have all our key employees (not just sales) a market calibration rise so basically make sure we pay them market rate at least. We made some promotions and also some key players got equity. The mist expensive employees you have are the ones you need that you don't have!
Personally I didn't ask for a salary i create but asked the company to increase pension contributions which they did - best around as it forces me to save!
I think a lot of sales people fall into it and then aren't willing/can't afford to take a step back to move into something else. Certainly the case for me.
A lot of sales already left so they restructured the org giving less accounts per person but we now all do both account management and new business. The annual payout means if I bomb in Q1 I need to claw it back over the rest of the year, I can't just let Q1 be a stinker and focus on Q2.
I'm now strategic due to the restructure but as I have the biggest accounts anyway it's the same list of account this year as the last three. In March my pension goes to 11% contribution from their side but as you know that's only on basic, not OTE, and I doubt I'll be here when it kicks in.
Last edited by wileeeeeey; 12th January 2022 at 21:02.
You are AliExpress and I claim my £5................
I work for myself and put myself under a cloud of pressure having to always find the next deal.
From what your describing you guys seem to also have a lot of pressure! I’m not sure I could survive in a world where if I don’t hit the targets set from someone above me I don’t get the bonus..must be nerve racking. But then I suppose you (presuming) city boys are on a decent basic?
Out of interest..and going off an a slightly different angle…what is a decent wage nowadays up town? £100k/£150k per year? Less/more?
With around 5% inflation in 2021 alone, you have effectively taken an 18% pay cut since 2015. Time to find a company that values you.
https://www.bankofengland.co.uk/mone...ion-calculator
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