Yearly Increase

[Parrot_Head_Fly]

My employer has said there will be a cost of living adjustment on my salary, 3% I think, do most operators do this yearly, or bi-annual? This adjustment is just word of mouth, small operator and no contract stating such thing.

 

[TimsKeeper]

It depends on the operator, of course, but most companies give you an annual increase which is a combination of raise (if you are lucky..this is aviation) and cost of living built in.

In reality if you make 50000 and you get a 5% raise to 52500 the actual raise isn't very much when you factor in how much more life is going to cost you (usually 2-4%).

My wife is a CPA at a small firm and the company, which is usually generous, is not giving raises this year due to the current economic environment. There were times when her yearly increase + bonus was more than my annual salary. Point is, take as much as you can get because corporations aren't letting the higher costs eat only into their pockets.

 

[Gulfstream 200]

3% COL my a$$.

anyone who heats a home, pays insurance, and buys gas for thier car knows 3% is no where near the actual COL.

I hate when employers pull that crap.

Think of it this way -- at 3% you took a paycut this year.

 

[rice]

3% COL my a$$.

anyone who heats a home, pays insurance, and buys gas for thier car knows 3% is no where near the actual COL.

I hate when employers pull that crap.

Think of it this way -- at 3% you took a paycut this year.

Oh how I can vouch for that!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Really makes you want to put your best foot forward for "The Man". Guess I should just be happy to have a job (waiting for that response as I continue to show my indifference).

 

[CloudyIFR]

Look at CPI-U

 

[aussiefly]

yeah when you consider the real inflation rate versus what you just got given it doesnt even equate. Say real inflation is 4% (just a guess) and you got a 3% increase then your salary just went backwards.

One of the above posters is right this COL stuff is BS. They should award REAL pay increases not just COL advances that don't cover it.

Cheers