Friday, April 24, 2009

What the Recession means to me...

My bosses all called a manditory staff meeting the other day...

Apparently i will be getting a merit increase next month for my work over the past year... but pay increases are frozen for the next two fiscal years... and the COLA is postponed until then as well.

But i'm promised that I won't be laid off... So essentially i'm taking a huge pay cut to keep my job and At this point, the job security is worth it since my pension will be unchanged and still funded.

Hourly, I make 16.79

If i assume a 6% raise for this May, I'll make $17.79 an hour. Over two years of raises would bump me up to 19.98 an hour

19.78 is the cap on my current position. So over the course of 2 years i'm giving up 1.99 an hour.

After I cap out of my salary range, it's at this point that i plan to try and get promoted to a high position... I'll begin taking classes again for a masters, or a fitness degree or something like that.

Hopefully with the hiring freeze in effect now and lots of people waiting to retire and retireing, i might be able to score something awesome in the next 5 years.

1 comment:

  1. Wow, they must not take very much taxes and whatnot out of your checks for you to make $16.79/hr and take home over $1200/check. I make $19.89/hr and take home $1076/check. I do have 10% going to retirement before take home, the rest is taxes.