CPI higher than my salary increment?!?

nosebleed

hi everybody!

I've just had my annual salary review from the company i work for (an american multinational one) and i was wondering how can it be possible that it is LOWER (3.5%) than the annual CPI increment in Ireland (4.8%).

That means that in the end, I lost 1.3% of my buying power!!! :eek:

I'm not Irish, but I think this can't be legal in any EU state...any ideas?!?

cheers!

animaal

I'm sure an economist would laugh at my simplification, but... It seems to me that inflation is the economy's way of self-balancing when there's too much money floating around. Increasing everybody's pay even more in response will just lead to even more inflation.

There's no way the state could legislate for across-the-board rises in the face of increased inflation.

If you're underpaid for the work you're doing, you probably have better options than pointing at the inflation rate. You can move to another employer, or even use a job offer as leverage with your current employer. Those of us in the private sector need to be proactive about our pay rates!

mick.fr

nosebleed wrote: »

hi everybody!

I've just had my annual salary review from the company i work for (an american multinational one) and i was wondering how can it be possible that it is LOWER (3.5%) than the annual CPI increment in Ireland (4.8%).

That means that in the end, I lost 1.3% of my buying power!!! :eek:

I'm not Irish, but I think this can't be legal in any EU state...any ideas?!?

cheers!

ROFL welcome to the real world.
Since when annual wages has to be index on the CPI or anything else?

You should be happy to have had an increase and have a job.

Go to Lidl too to get some stuffs, you will save some cash.

chahop

How the hell is this Rip off Ireland related ?

Dannyboy83

Sorry but this is/was completely normal in Ireland for a long time, especially in American run companies.

We might not be seeing salary increases for a while now though.

Xcellor

nosebleed wrote: »

hi everybody!

I've just had my annual salary review from the company i work for (an american multinational one) and i was wondering how can it be possible that it is LOWER (3.5%) than the annual CPI increment in Ireland (4.8%).

That means that in the end, I lost 1.3% of my buying power!!! :eek:

I'm not Irish, but I think this can't be legal in any EU state...any ideas?!?

cheers!

heh

You really shouldn't complain with 3.5% that's quite decent compared to a big fat 0.00 which a lot of people will get or an envelope with p45

Shelflife

Your employer isn under no obligation to pay you any increase providing you are getting over the min wage.

simple as that 3.5% is all right when there are job losses and wages cuts in the air

grahamo

nosebleed wrote: »

hi everybody!

I've just had my annual salary review from the company i work for (an american multinational one) and i was wondering how can it be possible that it is LOWER (3.5%) than the annual CPI increment in Ireland (4.8%).

That means that in the end, I lost 1.3% of my buying power!!! :eek:

I'm not Irish, but I think this can't be legal in any EU state...any ideas?!?

cheers!

That seems to be the way with American multinationals. You have to play them at their own game and use leverage to get a payrise from them. They play staff off each other too and some get higher pay rises than others which is a bit sneaky. Some of the posts telling you how lucky you are are giving me a bit of a giggle. Employers all over the country must love having people working for them who regard themselves as lucky to have a job. Lets face it. If you weren't making the company a decent profit they wouldn't keep you on so I'd say they are the lucky ones to have you.

Khannie

Leave. It's what I did. Costs them a lot more in the long run to replace you.

My conversation went something like this one year for a multinational:

"Great year. Well done. Some very good achievements. We're giving you a 2% raise."

I laughed (inflation was at around 4.5% at the time). Got my CV together. Never looked back.