UK Cost of living Salary Increase?

[kidloco]

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]

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...

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

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

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.

 

[kidloco]

IT Consultancy?
Warrington?
Yearly Appraisals next week?

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

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.

 

[kidloco]

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

If you dont ask, you dont get!