Just calculated my 3M salary increase over last 10 years. Even with one promotion and twice getting a 4+% raise, the net increase in my yearly salary after adjusting inflation is only a little over 10K. Now after deducting the increased medical insurance premium this is not even 8K per year. In fact, for last couple of years, we don’t even get our targeted AIP so the net salary increase is even less. I wish I had done these calculations earlier and had left the company. Waisted 10 years of my career.
3 replies (most recent on top)
Don't forget about the 401k company match cuts a few years back (60% of 6% of pay reduced to 45% of 5% of pay for those in Portfolio 1). That's a 3.60% - 2.25% = 1.35% pay cut every year you keep working. What could that have been worth if invested until retirement?
need to check your spelling, waisted or wasted,, have you put on weight during your 10 years , or have you used your promotion to be wasted, anyhow stick with 3M, I am sure your 401+ pension will be very good if you retire at 55
3M Annual Revenue
(Millions of US $)
2020 $32,184
2019 $32,136
2018 $32,765
2017 $31,657
2016 $30,109
2015 $30,274
2014 $31,821
2013 $30,871
2012 $29,904
2011 $29,611