Anybody Getting A Raise?
The dire economic headlines are coming at just the wrong time as many companies are currently budgeting for FY2009 right now.
So what’s the story? Has anyone heard yet about what you might expect next year?
Everyone can be “anon” for this thread for all I care. I’m just curious.
Where I work they have already trimmed back the positions down to a skeleton crew. They have been cutting costs, management overhead, and excess labor for the last year now, hiring only if absolutely necessary. They have closed 3 locations in the last two years, and if things get worse it will come down to more location closings as leases run out.
The Seaford Invista plant, formerly owned by Dupont, announced they are laying off 400 people, keeping a skeleton crew of only 100.
Nothing good. My business is off over 60% in two years, 40% of it this year alone. First year ever in the red (reads cash out of my pocket to stay afloat as no bank seems to care). How do you budget for the unknown? Is it a recession, a depression the end of time? Will the bullshit bailout work? What does a recovery look like for small businesses?
One of McCain’s top advisors just said that small businesses are the last section of the economy that’s till thriving. I’m wondering what planet she’s living on?
I’m only getting about a dozen eggs per day now but the hens always slow down in the fall.
My other job may give me a 3% bump. In other words, net salary reduction. And the annual bonus looks in jeopardy as well. It usually comes in mid November just in time for xmas presents for the kiddies.
The funny thing, business is way up.
meatball,
What line of work are you in that business is up?
I’m thinking about some recession-proof careers outside of the usual nurses-doctors piffle you always hear. So far I’ve come up with garbage men, port-a-potty workers, prostitutes and Rehoboth Beach lifeguards. Any other ideas?
Well, my day job is with the Federal government, and with locality pay, I should be getting anywhere from 4.5% to 4.9%.
One of my colleague’s wife was just layed off. My work is severely cutting back. Travel has basically been suspended (I got in under the deadline, I guess). A lot of things are getting cut – like banquets and things like that, really silly stuff. I get the impression that our management is basically freaking out.
The statistics from the labor department there has been a decline in the percentages and number of raises going on for the last 10 years anyway due to the skyrocketing cost of providing health care to their employees. In 1998 the average plan cost an employer 3,817 per year it`s now over 9,000 a year. Your employer is going to use this downturn to lay you off and replace you with part people who won,t be eligible for benefits.
Happy thought of the evening.
Wasn`t trying to make you smile it`s just an accurate look into a very bleak picture. We should have been demanding a national health care plan like the rest of the world has, but it was somebody else`s problem. Not now .
New best job: car repo man, sheriff’s office putting your furniture in the street, Walmart!
If you are a full time employee, you get laid off and a part timer you train will be hired without health care. Ray K, you are so right about the effects of health care on our economy. Many have discussed and presented the facts for at least 6 years and many on this blog refused to listen.
I hope Obama is elected but he will not be a miracle worker. Economists are predicting a major recession, but many middle class will slide into the poor/working class depression. Even Obama will not be able to stablize the world wide economic crisis immediately.
Obama speaks of a federal health care program like the one he and Mccain have, that is a single payer system. Works very well for them and our State legislators, we never hear them complaining about their system. We want the same system and stop corporations from continuing to move overseas (where they have single payer or no health care at all). If we want to save our jobs we must discuss/debate and get a system that keeps our jobs in the USA.
Actually, the best job will probably be at Joe the Plumber’s business. Something tells me that place is going to do pretty well.
Perhaps not. Word is that Joe isn’t a licensed plumber. And based on his (and McCains) misinterpretation of Obama’s plan, he isn’t much of an accountant either.
Since I was in the financial industry, I got zilch last year, health insurance went up and the company recalculated the pay period which came out to losing an extra few bucks.
I spend the year looking for a new job and I’m happy to say I’ve found a new job in the healthcare industry, better health coverage and a 5% raise.
Things are looking better for me. Maybe I should become a Republican.
Wow. Even Joe the plumber is not safe from scrutiny. Does the fact that he’s not a licensed plumber make the point any less valid? Which part of Obama’s plan did he misinterpret? I was under the impression that those making over $250K could expect a tax increase.
Congrats on the new job, nemski. Healthcare is pretty much recession-proof.
Why do I sense a Dominique “Joe the Plumber” post coming on?
Joe the Plumber isn’t a plumber, he doesn’t pay his taxes, he doesn’t make $250,000 a year and he isn’t even named Joe.
“meatball,
What line of work are you in that business is up?”
Health care.
in re: raise;
Probably. I’m on a contract that is going to end shortly but they want to renegotiate the term of contract which means I get to squeeze them on the rate a little. This one is going to be an interesting game of chicken. I really need this job but they really need this project. They could do it if I left but there’s no way they’d make their deadline.
Duffy, Is one of the tradeoffs of entering into the hire wire act of a contractor that you have to cover your own health insurance?
One advantage to being a contractor, Duff. Good luck with that. Just do what all the big companies do, say that the cost of fuel, healthcare, insurance, etc. are going through the roof and you need to protect your investors. Namely you.
Duffy, Is one of the tradeoffs of entering into the hire wire act of a contractor that you have to cover your own health insurance?
The secret to being a contractor is you need a wife with a real job.
….actually I don’t know anything about Duffy, I was referring to myself 🙂
Jason,
Yes. It’s is hideously expensive esp. b/c I have a large family.
LG, the costs you mentioned are not imaginary, they are very real. It has become SOP for me to define the term shorter and the rate slightly lower to give me competitive advantage. Employers frequently underestimate the scope of work and time it will take to accomplish. Once I’ve embedded myself (like a tick) they realize how problematic it would be to replace me. Right around then my contract is about to expire and we renegotiate. This has served me well in the past.
Anon is also correct that many contractors I know have wives with benes which is a major cost offset.
I’m sure everyone saw that social security recipients, retired military and retired Fed civilians are getting a 5.8% raise come January. This of course will be off-set by the rise in health benefits coverage.