With inflation soaring and the tech market roaring, I seem to have spontaneously been given a 10% hike (I only know so far because there is a precise 10% increase on my pay slip).
Want to know if that is in line with others.
What are your cost of living increases looking like this year?
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Re: What are your cost of living increases looking like this year?
#2I’m hearing about roughly 13%+ increases in labor costs here in the west region, for reference.
Recruiting costs have also gone up from 15% to as high as 25% of base per resource.
The going rate for hourly labor was 150/hr per head, but I haven’t talked to my contacts yet to see if that’s moved.
I would expect it to go to 175/hr, and premium rates to go to 200/hr. These rates would also reflect changes from agencies, and so should be in line.
Unrelated, but I was also hearing about a 25% increase in real estate in Albuquerque, New Mexico rent.
In Arizona commercial real estate, contractors had back-to-back single digit percent price hikes which I’m sure totaled double digit increases for the year.
I’m seeing substantial inflation, and anticipate this year’s real inflation to be in the double digits, and not the 5% the BLS is reporting.
Re: What are your cost of living increases looking like this year?
#3Philly region here. I asked a friend who is a manager about this. He laughed and said he doubts the company will do anything different than normal. Normally we get merit increases (no COL adjustments) from 2-4%. Could be as low as zero for a bad rating. It could be as high as 6% for a high rating with a low salary.
Re: What are your cost of living increases looking like this year?
#4Same COL as every year; 0% . Merit raises only , which are down 'because of covid' . Funny how it works to always lower your pay but a good year never actually increase your pay.
Re: What are your cost of living increases looking like this year?
#5I honestly don't remember what mine was, but I know it was less than 10%.
Re: What are your cost of living increases looking like this year?
#6lol, I got a 1% "raise" this year. That's about 10-20% of inflation, so I call it a pay cut.
Re: What are your cost of living increases looking like this year?
#7[deleted]
Re: What are your cost of living increases looking like this year?
#8Gut feeling: 10-15%.
That shopping trolley gets emptier and more expensive by the week.
Some items that I have actually noticed increase in price, have been around 20%. But that was likely just because the increase was a glaring example.
Re: What are your cost of living increases looking like this year?
#9We got a 3% COL increase.
I went permanent WFH and that has been a gigantic reduction in expenses so we're doing pretty good now.
I haven't noticed inflationary effects in the stuff we buy. Food seems a bit more expensive but everything else we buy hasn't really jumped in price, or at least enough that made us notice it.
Re: What are your cost of living increases looking like this year?
#10Way down (roughly 30-50%), moved to Romania (from Austria).
IT wages after taxes would likely be competitive too at my experience level and with possible tax exemption, but I'm retired.