UK Cost of living Salary Increase?

kidloco

kidloco

kidloco

Soldato
Joined
3 Nov 2003
Posts
5,070
Location
Lancashire
Hi,

I started my current job abount 14-15 months ago now, I work as a I.T Consultant, and I realised that I hadnt been given a cost of living increase.

My boss said its not a problem, he will find out what it is and backdate it, the thing is I would like to make sure im getting te fair amount. Iv just spent the past 30mins looking for info and it seems to be pretty thin on the ground, can anyone help me out and if possible provide links to back up their facts.

All I can find is this really, it seems the average is 5%

http://uk.answers.yahoo.com/question/index?qid=20060902082657AA7YWYQ
 
kidloco said:
Hi,

I started my current job abount 14-15 months ago now, I work as a I.T Consultant, and I realised that I hadnt been given a cost of living increase.

My boss said its not a problem, he will find out what it is and backdate it, the thing is I would like to make sure im getting te fair amount. Iv just spent the past 30mins looking for info and it seems to be pretty thin on the ground, can anyone help me out and if possible provide links to back up their facts.

All I can find is this really, it seems the average is 5%

http://uk.answers.yahoo.com/question/index?qid=20060902082657AA7YWYQ
Click to expand...

That link is to an american conversation, and thus isn't really valid for Warrington...lol

Where did you get 5% from? Cost of living increase is linked to inflation (in theory). Is it the average pay rise others have been getting? If so, then that may be linked to performance, not just cost of living...
 
Samtheman1k said:
That link is to an american conversation, and thus isn't really valid for Warrington...lol

Where did you get 5% from? Cost of living increase is linked to inflation (in theory). Is it the average pay rise others have been getting? If so, then that may be linked to performance, not just cost of living...
Click to expand...

LOL serves me right for not waking up properly 1st eh :D, oh and I meant 3% not 5%, god knows where I got that from!

right, well I found this, and its UK this time :p

http://www.statistics.gov.uk/cci/nugget.asp?ID=22


And based on that my Cost of living from Sept 06 to Sept 07 has gone up 3.95%.

Iv emailed my boss with those details and hes suggested a 4% increase, backdated. plus I have my yearly appraisal next week in which my normal increase will be decided.

that seems pretty fair to me.
 
There is no standard or fixed ammount its up to the employer, some people dont get anything year on year. Mostly the general amount seems to be around 2.5-3.5%
 
id be lucky to get a payrise at this company. currently on 9k a year. started on 7k a year jan last year. now i wont get any pay increase at all. that much is pretty concrete.

awful company to work for!
 
You've actually got a pretty good deal there, especially if you also get a payrise at your appraisal.

No company is required to give you a payraise or cost of living increase, uk inflation is about 2% so on £25k a £500 rise would be along the lines of inflation\cost of living.
 
LOL, Phne call..

TAX MAN: hello this is your local tax man,

YOU: OH Hello..??..

TAX MAN: i would just like to thank you for claim your living costs back because the huge chunk i have just taken out of it has paid for me to go to mars :)

YOU: AaaaHHhhh Give me it back you ****.

TAX MAN: Ha Ha Haaaaaa
 
IT Consultancy?
Warrington?
Yearly Appraisals next week?

What company do you work for.. wouldn't begin with an O would it?
 
Bes said:
IT Consultancy?
Warrington?
Yearly Appraisals next week?

What company do you work for.. wouldn't begin with an O would it?
Click to expand...

No mate it doesnt begin with an O, I live in warrington and work from home, the company is based in London, I have to do a fair bit of travelling but im at home 80-90% of the time.

I work for a pretty small company, only around 6 employee's, its growing quite quickly though, I left my old job with a very big company to work for my current employers, it was a bit of a risk but its nice, we actually have a hand in how things work, in fact all this has led to the company releasing this today on our internal website.

Cost of Living Adjustments

The company will make an annual adjustment to all Employees remuneration for changes in the Cost of Living. The adjustment will be made effective from the anniversary of your employement commencement date and will be paid commencing in the month you finalise your Performance Appraisal with your manager.


The adjustment will be applied to your Basic Salary only and will not apply to any Allowances, Commissions or Incentive payments.


The Cost of Living adjustment will be based on the latest RPIX (Retail Price Index excluding Mortgage Interest Payments) figures found on the National Statistics website www.statistics.gov.uk.
 
Last edited:
kidloco said:
...and I realised that I hadnt been given a cost of living increase.
Click to expand...

There is no right or automatic amount. It will depend on what your employer decides based on the health of the company finances and local labour market. Just because RPI is 2.1% and CPI is 4% doesn't not mean you're automatically entitled to anything.
 
I'm thinking of negotiating a pay rise. I get paid quite well on paper but it simply doesn't cover living round here, so it's either got to be a pay rise or I'll have to leave so I can work somewhere cheaper to live. Fine if you've got a £500/month mortgage but if you've got to try and find triple that then no way :(
 
Stinky said:
id be lucky to get a payrise at this company. currently on 9k a year. started on 7k a year jan last year. now i wont get any pay increase at all. that much is pretty concrete.

awful company to work for!
Click to expand...

Well, if your below 22 they aren't breaking the law, and depends how many hours you work.

If your 22 and over you should be on at least 11k ish (37.5-40hr week) for it even be legal (£5.52 per hour)
 
clv101 said:
There is no right or automatic amount. It will depend on what your employer decides based on the health of the company finances and local labour market. Just because RPI is 2.1% and CPI is 4% doesn't not mean you're automatically entitled to anything.
Click to expand...

I may not be inteitiled to it but hey, as my old nan used to say.

If you dont ask, you dont get!
 
You must log in or register to reply here.
Back
Top Bottom