First year at 3M, what a time to join!
That being said, when is usual raise timing?
And what are odds that raises are half of inflation this year?
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The only way you're going to get a raise that large is if you work OT on all the US holidays and actually claim the hours on your payroll. Some people don't do that. Some claim lieu hours for future time off. However, most people I know just work countless hours and don't claim anything! Enjoy that couple percent YOY
Raise? You must be dreaming. You need to leave to get anything significant.
The actual raises for different ratings are not widely known yet, and may not yet be fully decided even.
It is a fairly safe bet it will be well below the US inflation. Given the massively negative reaction to this year's raise, it might even be higher than 2%. They might even grow the soft spine to pay 3%. I do believe that the raise has been 2% in the US every year since 2012 or so, they may not want to break the trend.
For those who have access to budgets to see the direct line, you can actually calculate it out. The direct budget per employee will be X.XX% bigger than last year. Is a pretty good bet that the 'meets' raise will be not too far from that number, rounded down. (As a made up example, if the direct budget per employee goes up 2.89% next year, you can bet the 'Meets' number will be 2%). First person to leak the number gets a cookie, it might even be me if my finance contacts hurry up with the final OP numbers.
Which means "Exceed" will be only 4%?
Who would want to do more for an entire year, only to get an increment still less than inflation? Might as well just do your job quietly. Let the leaders worry.
“Effective” performance = 2%
Annual Merit Increases are typically effective on April 1st, so will be reflected in your April 2023 paycheck. Sometime in March, after you have completed your 2022 EPR (performance review) your manager should tell you what your merit increase will be. For at least the last 5 years the merit increase for an average rated employee has been 2%, so don't get your hopes up.
Don't expect anything near the rate of inflation. HR will tell you that 3M can not control the price of gas or groceries and they need to keep compensation costs "competitive" with similar companies. Lots of other spin and excuses why they won't pay you enough to maintain your standard of living. 3M used to be in the top 20-25% for pay 20+ years ago, but now they're average at best.
I encourage you to search 3M Go for "Merit Increase" and/or ask your manager during your next 1:1 meeting.
3M claims to want to "attract and retain the best and the brightest" employees, but by only offering average pay that stated goal is pure fantasy. Less money for the average employee = bigger bonuses for executives and more profits to impress Wall Street.
Raise? LOL
Roman needs a new yacht 🛥 and he needs every bit of his $20 million salary package to buy it.
Consigliere Patolawala will spend his $10 million salary package on a private jet.
Very few scraps left for “the help.”
The dingleberries will give you 30 to 40 reasons why he won’t get a raise. Don’t count on 3M for anything except the purple shaft.
Raise timing? I could be mistaken but I don't think raises happen in 3M unless you get promoted into a higher job grade.
Perhaps you're inquiring about the Annual Merit Increase? This is FAR from a raise, and count on it being less than half of inflation! Really should be renamed Annual Merit Insult. Expect nothing more than a 1-2% increase IF you're a high performer. Not sure what fraction of a percent, if any, is given to low performers.
Good luck to you. Good luck to us all!
You should be glad if you can keep your job