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#1258770 - 09/29/09 08:01 PM Wage Increases for 2010?
Yavanchi Offline
New Poster
Joined: Oct 2005
Posts: 15
United States
Our bank has announced that the average wage increase for 2010 will be 2% (previously 3.5 to 4.0%). What are others doing?

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Human Resources
#1258811 - 09/29/09 08:32 PM Re: Wage Increases for 2010? Yavanchi
BurntSienna Offline
Diamond Poster
Joined: Aug 2006
Posts: 2,407
Midwest
Complete freeze here, no wage increases at all this year, no holiday bonuses, no employees who leave are being replaced, etc. We are cutting costs to the bone, trying to improve the balance sheet. I suspect we aren't the only ones.
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#1258932 - 09/29/09 10:42 PM Re: Wage Increases for 2010? BurntSienna
Yavanchi Offline
New Poster
Joined: Oct 2005
Posts: 15
United States
Thanks for sharing this information. It will make it easier when employees find out that ours is not the only bank cutting back. Sure will be glad when (or if) life gets back to normal!

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#1259036 - 09/30/09 12:55 PM Re: Wage Increases for 2010? Yavanchi
waldensouth Offline
Power Poster
waldensouth
Joined: Nov 2001
Posts: 7,979
FINALLY ABOVE the gnat line
They should be glad they're getting anything! We got nothing at all in 2009. Haven't heard a thing about 2010.
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#1259043 - 09/30/09 01:06 PM Re: Wage Increases for 2010? waldensouth
Skittles Offline
10K Club
Skittles
Joined: Sep 2002
Posts: 13,963
TN
And many banks - especially in the southeast - have made mandatory wage cuts. Your employees should be thankful they have jobs. Seriously!
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#1259064 - 09/30/09 01:18 PM Re: Wage Increases for 2010? Skittles
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,449
Pulling people out of the ditc...
Baton Rouge, we are 3.5%, and hiring to cover our growth.
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#1259067 - 09/30/09 01:19 PM Re: Wage Increases for 2010? Skittles
Georgia Plum
Unregistered

Officers took pay CUT this year, no raises planned for next year.

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#1261596 - 10/05/09 03:06 PM Re: Wage Increases for 2010? Yavanchi
Darylena Offline
New Poster
Joined: Nov 2007
Posts: 11
No raises for senior management; 0-2% for all others.

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#1262314 - 10/06/09 05:31 PM Re: Wage Increases for 2010? Darylena
fla banker Offline
New Poster
Joined: Jan 2004
Posts: 10
2009 wage freeze along with no longer providing the 401K employer match. we also shopped our PEO vendor/benefits and got both better pricing and health insurance plans. We have lost some staff to lay offs as well. Converting all the PEO items was a job, but you can save some serious money if like us we had been with the same company for a number of years and had some serious rate hikes over the past few years.

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#1316595 - 01/03/10 03:41 AM Re: Wage Increases for 2010? fla banker
doorsfan1974 Offline
Junior Member
doorsfan1974
Joined: Dec 2009
Posts: 29
Birmingham, AL
With the recent economic "recession" the companies want the employees to think, "well, I need to be thankful that I have a job, and not worry about a raise." Yeah, corporations take advantage of the recession and they want you to think that!
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#1331479 - 01/26/10 10:23 PM Re: Wage Increases for 2010? doorsfan1974
JBledsoe Offline
Member
JBledsoe
Joined: Sep 2009
Posts: 54
Kansas
We got about a 2% raise. and we did get a holiday bonus but that is never very large.
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#1331727 - 01/27/10 02:53 PM Re: Wage Increases for 2010? JBledsoe
madukes Offline
Diamond Poster
madukes
Joined: Jul 2009
Posts: 1,448
Flyers Country
No raise in '09. at first we were told no bonuses either but we ended up receiving a small bonus. Have not heard anything for 2010 yet.

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#1331765 - 01/27/10 03:10 PM Re: Wage Increases for 2010? madukes
Georgia Plum
Unregistered

Nothing official, but I expect no raises this year either. No raises last year, pay cut, no bonuses.

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#1332094 - 01/27/10 06:09 PM Re: Wage Increases for 2010?
DerrickAuditor Offline
Member
Joined: Mar 2008
Posts: 91
USA
No cost of living or raises or general bonuses in 2009 (some bonuses of course for lenders and brokers who exceeded their sales goals).

No cost of living adjustments in 2010, but 0-2% for promotions or exceptional work. Expect no bonuses for 2010, but not yet official.

No changes so far to benefits such as 401k.

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#1332253 - 01/27/10 08:11 PM Re: Wage Increases for 2010? DerrickAuditor
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
3% for 2010.

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