It's spread out over 4 years. Using the 3% a year average, then comparing it to 4 years of raises (36% total) is just being purposefully misleading.
Fine 9% a year average is still 3 times the average annual raise. I agree 3% is low, but it again depends on the industry and where in the pay range you are. I consider 3% to be the minimum personally but Im also realistic and realize that 5-6% is a pretty damn good raise for a non promotion year.
5% is insulting. It's literally taking money out of their pockets with the increase in cost of living over the last few years. It's especially insulting when the company boasts about how well they are doing, while giving executive raises closer to 40% and doing massive stock buybacks.
Long term inflation rate is about 3% with 2022 being an outlier at 8% but even 2021 and 2023 are coming in under 5%. Total inflation from 2020 to now is 18% so even with the outlier year a 5% raise is not insulting nor is it taking money out of their pockets since that's still above the inflation rate.
Yes, in my opinion, it’s asking too much. I built BMW’s for 22 years. The most we ever got was 8%, once. It usually averaged 6 or 7, if we got one at all. 10% for 2 years sounds more reasonable to me. Don’t get me wrong, I hope they can get as much as possible. I realize inflation has been stupid high the last year or so. I don’t wish to see anyone struggling money wise, but you need to budget wisely. I’ve seen too many people at our plant get hired in, buy new vehicles, a house, or both, then complain that they aren’t making enough.
If they get the raise they want they will make over $300,000 per year (they now make $65/hr; Toyota workers $55/hr) according to our local paper. It is possible that Jeep may disappear, or be so expensive that only the 1% will be able to afford one.
Just because you got stiffed for 22 years isn't a very good reason to think other auto workers don't deserve to get a raise.
And if they don't treat their employees right, they leave or strike, dropping value for the shareholders. This happens all the time, that's the way corporations work.
I didn’t get “stiffed”. The percentages of cost of living raises are fairly consistent across all manufacturing sectors in the US. I never said they don’t deserve a raise. Maybe you need to resolve your apparent anger issues, then go-back and re-read my posts. Have a nice day, now!
I like to find any company in the Auto Industry who is averaging 9%+ wage increases EVERY year? I
But it's okay that the execs do it.
I wonder how that happened? Probably because of what we're seeing now.
And the corporate execs are greedy pigs.
There's no heros at the top of this situation- only greedy villains amassing fortunes by overcharging the consumers. The unions rape the union workers then they hang the workers out there because it's "worker pay" being negotiated for but probably 40% ish goes right back into the union in the form of health, pensions, overhead, this, that, and the other.
