Raises only provided during new Fiscal? The only good reason to stay?

I am a current employee (sales) at one of the GBUs and my base salary is low. I'm not making much on incentive pay because our solutions are old and we do not have much in the way of new ones to sell nor any marketing support.

We've had a high number of people leave so my manager said he has requested a raise for me as he wants me to stay (I guess he is afraid I'll go) but he said they can't apply it until the new FY.

He told me this a few months ago. While we are only 3 months away from the new FY I am getting frustrated that I have to wait - plus who knows how much the raise will be? To bring me in line with the market I'd need at least a 50% increase. I know - never going to happen.

I am only considering staying because I want to work on a side gig and this role give me the flexibility to do it with relatively low stress although sometimes I find myself working long hours and I don't have time to work on it, mostly because of all the red tape. My manager is also a good guy and that's another plus, and so is his manager, but the guy who runs the department is a mo--n.

I also have a baby so starting a new job seems dauting but staying at Oracle is beginning to cost me. I have been here almost 8 years.

Half of our department has left. One friend advised they expect a recession soon with all that is going on in the world so that's also a consideration. But I have come to realize Oracle is a giant sh*thole - no investment in anything. You are just slowly dying.

So I am wondering if it is true that raises are only given at the start of a FY, and if my reasons for even considering to stay are worth it? there has to be other companies with decent work life balance? I'm looking to sneak in an hour or two a day working on my side gig during the day at most. google maybe?

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Slight correction to the premise of this thread. Should be:

"Raises never provided. No reason at all to stay."

Our job is done here!

Thanks everyone for the feedback - while I think my manager is acting in good faith, I know him for quite some time (just under 8 years). He is a new manager and may not yet know the ropes. I wouldn't be surprised Oracle didn't go thru with a measurable raise as that's what I have seen.

I am interviewing with other companies.

I will miss the work life balance though of Oracle!

You are being Played, Bunky. Your manager has no more control over his budget than the man on the moon or a flying cow. I am sure he doesn't want you to leave but make no mistake. He'll get crumbs, if anything, to distribute to all his reports. You'd be lucky to be 2%, but I'd lay odds you won't even get that because I'll wager his budget will be flat or even educed.

You’re not going to get a raise. The company is borrowing heavily to buy Cerner and does not have a competitive product with OCI. Safra is having to give massive support credits to keep large customers. Margins are under tremendous pressure.

You need to get out of Oracle. Your manager is manipulating you. When it comes time to give you the raise, he will just make something else up.

Stop. Go back to the list of postings here and read the comp deck posted from the Oracle lawsuit. This is what you are up against. Arm your self with info.

Fools stay for fiscal. If you have good opportunity get a good raise and joining bonus to match your fiscal. Just run. Why you waste time ?

focal is not going to be more than 10% max. even a 20% raise will not bring you to market range.
Think about what you are learning in your current job ? is it monotonous ?

you will be replaced soon with cheap H-1B or offshore team

Are you in OCI ? pressure will be more and your salary is no worth. If people are leaving then there is a reason and pressure will be more on you. Better find your new job soon.
Market is really looking for talents and you are at the right time to find your job.

If recession occurs, even oracle can layoff lots of people and close unwanted projects. Your project could be one of them.

if you have baby then you are young and can take risk. Don't stay here like oldies for few years and you will be obsolete. make hay when sunshines. make money when you are young.

Raises and Promotions are always promised, but rarely appear. I suggest that you await that raise, but start looking around for the next job. Keep you options open.

You are being played, so you need to play too!

Sounds like BS to string you along. Just like when they tell you there’s no budget for it, but others seem to get their $.

Use your new family as incentive to find a better job. This is your line in the sand.

You wrote bc you had a clue that your mgr is p|ss|ng on your head and telling you it is raining.

Listen to that hunch bc it’s true.

Good luck!

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Raises only provided during new Fiscal? The only good reason to stay?

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