Also had larger-than-expected bonuses when the company did particularly well. Or in one case less poorly than expected.
In the latter case they’d announced that if a particular metric was lower than X our bonuses would be $0.
The metric was lower than X but some of the other metrics were so much better than expected that they decided to give us all small bonuses anyway. Not really off-cycle raises, but deviating from the stated compensation plan.
And I assume you’re not counting exam raises as “off-cycle”.
They must have balls of tungsten. 0% when inflation is at 10% in the UK would likely see a third of the finance department bolt (actuarial folks still seem to be in really high demand right now as well in the UK).
Last year I got 20% total comp raise (9% salary and 11% bonus increase vs 2021) with inflation at about 13%, so this year being at 6% (6% salary and no change bonus vs 2022) with inflation at 10% kind of evens out. I’ll still push for an off-cycle adjustment of some kind because company is still pretty profitable (with a lot of work coming my way).
0% though in 2023. Yikes.
Did you get a huge raise last year and an emormous bonus in 2022? (That was a vintage year for bonuses in the UK).
I got a roughly 5% raise last year, and the American senior management made a huge song and dance about how this was the largest ever merit increment pot made available.
What they conveniently failed to mention was that the previous year, again it was 0 increments, blamed on COVID.
I suspect the “potential increase later in the year” is a carrot dangled (in front of the proverbial donkey) to attempt to head off an exodus as they have learnt their lesson from the previous 0 increment year. Rumour had it that lots of people left that year. One of the things with full-time remote working I suppose, people leave without anyone else really knowing.