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this post was submitted on 15 Feb 2024
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I've gotten three raises from my company that haven't kept pace with inflation lol. It's ridiculous. Oh, and insurance benefits cut substantially.
My employer hands out raises April 1. They are largely the same for everyone.
April 2021: 2% Inflation the prior 12 months: 3%
April 2022: 2% Inflation the prior 12 months: 8%
April 2023: 2% Inflation the prior 12 months: 4%
Upcoming April 2024: 2% Inflation up to January: 2% (sure to get at least to 3% by March, considering the latest annualized numbers are around there)
So my last 3 and at least my next raise will be below inflation. CPI up ~21% by April 2024. Wages only up 8.2%. I’m now going to be down some $11,000 a year. And that ignores that some necessities (notably food) are outpacing the CPI.