10 step pay raises

[FedupinMo]

His explanation of the new step program was basically to address 30 yrs of inconsistent or no raises. He said if fed ex were to just give raises based on the step you go up to they will be in the same boat 10 yrs from now when 26 dollars/hr is the same as 20 dollars/hr today

 

[Oldfart]

I was recently in a pre-management course and this topic was brought up and my understanding, and the understandimg of the senior giving the course, was that you will step up plus whatever they decide cost of living increase to be. So if ur lvl 1 at 16.60 and s2 is 17.50, you will more than likely be in the 17.80 range this year.

Sounds good to me.

 

[Buhryein]

I was recently in a pre-management course and this topic was brought up and my understanding, and the understandimg of the senior giving the course, was that you will step up plus whatever they decide cost of living increase to be. So if ur lvl 1 at 16.60 and s2 is 17.50, you will more than likely be in the 17.80 range this year.

When talking to our dist. Mngr he made it sound the same if the steps are all adjusted 2-10. You should move to the next step after the adjustments are made. For example If you are step 10 and they decide 10 gets a 3% raise those in step 9 would get to step 10 including the 3% thus being topped out at the current adjusted step 10. There will be no in between steps going forward.

That's how it was explained to us anyways

 

[refineryworker05]

That's really hard to believe that 18,000 is the median. I grew that amount in less than 4 years with putting just enough for our match and was part time for 9 months.

The data about 401k's is the data. If you have other data about 401k's please present it.
401k's work best for workers with high wages, steady employment that lasts for multiple decades, luck with illness and injury or the kind of job benefits that can overcome serious illness and injury, avoiding divorce or making the kind of money where divorce doesn't matter, avoiding a seriously ill parent, child, spouse.

Workers that meet that criteria that I know are all in unions, but only 6% of Americans are in unions.

 

[refineryworker05]

Lower of course. The average 401(k) balance in Fidelity-administered plans rose to a record $92,500 at year-end, up $4,300 from the previous year. The average IRA balance at Fidelity was $93,700, up $3,600 from the previous year.

Using the average for 401k's or income can be very misleading. For example, if you have 10 people and their wages are $20k, $21K, $23K, $27K, $28K, $34K, $36K, $52K, $55K, $500k. The average of all their incomes is $79.6K.
The median of all of their incomes is 31K. The median income is much more representative of their incomes than the average because half are above median income and half are below. Whereas the average is more than all but one earn.

Plus $93,000 is nothing to retire on and that is an alltime high. Its bad.

 

[Maui]

As expected, it will be a move to the next step plus 3% at top of range (Step10)

 

[MAKAVELI]

As expected, it will be a move to the next step plus 3% at top of range (Step10)

Are the steps adjusted?

 

[Yomama11]

steps are same as last year.

 

[Oldfart]

As expected, it will be a move to the next step plus 3% at top of range (Step10)

Is that confirmed?

So you are at 9 now? You will move to step 10 as shown on last year's chart and 10 gets a 3% bump?

 

[Maui]

Yes. Steps remain unchanged except 10. Step 10 to increase 3%. Those at Step 9 move to the new Step 10.

This is what can be expected for a little while. At some point starting pay will have to move up and then there will be an adjustment to the steps.

 

[Yomama11]

Yes. Steps remain unchanged except 10. Step 10 to increase 3%. Those at Step 9 move to the new Step 10.

This is what can be expected for a little while. At some point starting pay will have to move up and then there will be an adjustment to the steps.

Damn shame!!! All the money fedex made and steps remain unchanged.

 

[McFeely]

Damn shame!!! All the money fedex made and steps remain unchanged.

Shocking, ain't it?

 

[Maui]

Color me surprised. I'm sure they feel the current steps represent nice raises---over 5% usually. What they fail to see, or maybe just do not care about is the significant number of years that midrange spent toiling away with small raises or no raise at all.

I do believe 5-6% raises are good raises. There is just so much ground to make up for even 10+ year employees.

 

[MAKAVELI]

Yes. Steps remain unchanged except 10. Step 10 to increase 3%. Those at Step 9 move to the new Step 10.

This is what can be expected for a little while. At some point starting pay will have to move up and then there will be an adjustment to the steps.

That means some on step 9 will get a $2+ raise while the rest just get the the step increase.

 

[Yomama11]

Fedex had every opportunity to correct the pay disparity it created and it has failed miserably. 2 year employees should not be on the same step as a 12 year employee.

 

[Maui]

That means some on step 9 will get a $2+ raise while the rest just get the the step increase.

Pretty much.
Courier
B0 - $1.77
B1 - $1.89
B2 - $1.96
B3 - $2.06
B4 - $2.14

Swing/RTD
B0 - $1.90
B1 - $2.00
B2 - $2.08
B3 - $2.18
B4 - $2.28

 

[fdxsux]

Fedex had every opportunity to correct the pay disparity it created and it has failed miserably. 2 year employees should not be on the same step as a 12 year employee.

I wouldn't say they failed. Failed implies they actually tried.

 

[vantexan]

That means some on step 9 will get a $2+ raise while the rest just get the the step increase.

So they did increase top out on step 10?

 

[Operational needs]

My manager told me they got an email yesterday saying that we will be getting raises first week in October.

 

[MAKAVELI]

So they did increase top out on step 10?

Looks like it.