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Salary to increase by rate of inflation in a contract? [closed]
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Is it reasonable to request that a salary increases annually at least by the rate of inflation in a employment contract, to allow staff to keep salary in line with living costs if there were no official promotions for a few consecutive years?
The contract could be for any job but I am thinking of one in the technology/development sector. It would be a full time permanent position.
contracts
edited Dec 20 '14 at 5:07
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asked Apr 9 '14 at 9:39
slaterio
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closed as primarily opinion-based by Jim G., Jan Doggen, Chris E, yochannah, IDrinkandIKnowThings Dec 22 '14 at 18:34
Many good questions generate some degree of opinion based on expert experience, but answers to this question will tend to be almost entirely based on opinions, rather than facts, references, or specific expertise. If this question can be reworded to fit the rules in the help center, please edit the question.
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up vote
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down vote
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Is it reasonable to request that a salary increases annually at least by the rate of inflation in a employment contract, to allow staff to keep salary in line with living costs if there were no official promotions for a few consecutive years?
The contract could be for any job but I am thinking of one in the technology/development sector. It would be a full time permanent position.
contracts
edited Dec 20 '14 at 5:07
starsplusplus
1,2741220
asked Apr 9 '14 at 9:39
slaterio
3481310
closed as primarily opinion-based by Jim G., Jan Doggen, Chris E, yochannah, IDrinkandIKnowThings Dec 22 '14 at 18:34
Many good questions generate some degree of opinion based on expert experience, but answers to this question will tend to be almost entirely based on opinions, rather than facts, references, or specific expertise. If this question can be reworded to fit the rules in the help center, please edit the question.
If you can get that into a contract then it is absolutely reasonable. If you can get new contracts with at least that rate of increase then absolutely. If you cant then no its not reasonable to expect them to do it anyway.
– IDrinkandIKnowThings
Dec 22 '14 at 18:35
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up vote
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up vote
0
down vote
favorite
Is it reasonable to request that a salary increases annually at least by the rate of inflation in a employment contract, to allow staff to keep salary in line with living costs if there were no official promotions for a few consecutive years?
The contract could be for any job but I am thinking of one in the technology/development sector. It would be a full time permanent position.
contracts
edited Dec 20 '14 at 5:07
starsplusplus
1,2741220
asked Apr 9 '14 at 9:39
slaterio
3481310
Is it reasonable to request that a salary increases annually at least by the rate of inflation in a employment contract, to allow staff to keep salary in line with living costs if there were no official promotions for a few consecutive years?
The contract could be for any job but I am thinking of one in the technology/development sector. It would be a full time permanent position.
contracts
edited Dec 20 '14 at 5:07
starsplusplus
1,2741220
asked Apr 9 '14 at 9:39
slaterio
3481310
edited Dec 20 '14 at 5:07
starsplusplus
1,2741220
edited Dec 20 '14 at 5:07
starsplusplus
1,2741220
edited Dec 20 '14 at 5:07
starsplusplus
1,2741220
1,2741220
asked Apr 9 '14 at 9:39
slaterio
3481310
asked Apr 9 '14 at 9:39
slaterio
3481310
asked Apr 9 '14 at 9:39
slaterio
3481310
3481310
closed as primarily opinion-based by Jim G., Jan Doggen, Chris E, yochannah, IDrinkandIKnowThings Dec 22 '14 at 18:34
Many good questions generate some degree of opinion based on expert experience, but answers to this question will tend to be almost entirely based on opinions, rather than facts, references, or specific expertise. If this question can be reworded to fit the rules in the help center, please edit the question.
closed as primarily opinion-based by Jim G., Jan Doggen, Chris E, yochannah, IDrinkandIKnowThings Dec 22 '14 at 18:34
Many good questions generate some degree of opinion based on expert experience, but answers to this question will tend to be almost entirely based on opinions, rather than facts, references, or specific expertise. If this question can be reworded to fit the rules in the help center, please edit the question.
If you can get that into a contract then it is absolutely reasonable. If you can get new contracts with at least that rate of increase then absolutely. If you cant then no its not reasonable to expect them to do it anyway.
– IDrinkandIKnowThings
Dec 22 '14 at 18:35
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If you can get that into a contract then it is absolutely reasonable. If you can get new contracts with at least that rate of increase then absolutely. If you cant then no its not reasonable to expect them to do it anyway.
– IDrinkandIKnowThings
Dec 22 '14 at 18:35
If you can get that into a contract then it is absolutely reasonable. If you can get new contracts with at least that rate of increase then absolutely. If you cant then no its not reasonable to expect them to do it anyway.
– IDrinkandIKnowThings
Dec 22 '14 at 18:35
If you can get that into a contract then it is absolutely reasonable. If you can get new contracts with at least that rate of increase then absolutely. If you cant then no its not reasonable to expect them to do it anyway.
– IDrinkandIKnowThings
Dec 22 '14 at 18:35
add a comment |Â
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You can certainly ask. Good luck. I have yet to have heard of a case where this has actually been accomplished, and there would be work to determine what standard for "inflation" is agreeable to both you and the company. There are always numerous metrics to describe a financial condition, and you don't want to leave this vague if you want it to be effective.
If I were your company, I probably wouldn't agree. The overall rate of inflation of the country/state/industry may not closely match the company's growth in revenue. The money they have earned is the money they can use to pay you, and it really doesn't matter to the bottom line if other companies or people are making more money. If they are willing to commit to growing salaries in some fixed relationship to inflation, then they will be faced with being forced to layoff people when inflation has increased but revenue has decreased.
It's not a deal I would make, but each company makes it's own decisions in this area. Many companies will claim to give "competitive" salaries, by which they generally mean that they try to keep your salary comparative to their competition and to what it takes to retain someone in your field. The question is - how well do they do and what can they share about the pay of actual employees in actual job roles in comparison to current industry standards?
answered Apr 9 '14 at 16:12
bethlakshmi
70.3k4136277
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I think it's entirely reasonable. I also think, though, that it's unlikely.
I've never seen such a clause in a contract and, while it's intrinsically unfair that many of us see our real-terms salaries decrease some (many) years, I think it's unusual for that not to be the case, unfortunately.
answered Apr 9 '14 at 10:31
Owen Blacker
20829
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2 Answers
2
active
oldest
votes
2 Answers
2
active
oldest
votes
active
oldest
votes
active
oldest
votes
up vote
3
down vote
accepted
You can certainly ask. Good luck. I have yet to have heard of a case where this has actually been accomplished, and there would be work to determine what standard for "inflation" is agreeable to both you and the company. There are always numerous metrics to describe a financial condition, and you don't want to leave this vague if you want it to be effective.
If I were your company, I probably wouldn't agree. The overall rate of inflation of the country/state/industry may not closely match the company's growth in revenue. The money they have earned is the money they can use to pay you, and it really doesn't matter to the bottom line if other companies or people are making more money. If they are willing to commit to growing salaries in some fixed relationship to inflation, then they will be faced with being forced to layoff people when inflation has increased but revenue has decreased.
It's not a deal I would make, but each company makes it's own decisions in this area. Many companies will claim to give "competitive" salaries, by which they generally mean that they try to keep your salary comparative to their competition and to what it takes to retain someone in your field. The question is - how well do they do and what can they share about the pay of actual employees in actual job roles in comparison to current industry standards?
answered Apr 9 '14 at 16:12
bethlakshmi
70.3k4136277
add a comment |Â
up vote
3
down vote
accepted
You can certainly ask. Good luck. I have yet to have heard of a case where this has actually been accomplished, and there would be work to determine what standard for "inflation" is agreeable to both you and the company. There are always numerous metrics to describe a financial condition, and you don't want to leave this vague if you want it to be effective.
If I were your company, I probably wouldn't agree. The overall rate of inflation of the country/state/industry may not closely match the company's growth in revenue. The money they have earned is the money they can use to pay you, and it really doesn't matter to the bottom line if other companies or people are making more money. If they are willing to commit to growing salaries in some fixed relationship to inflation, then they will be faced with being forced to layoff people when inflation has increased but revenue has decreased.
It's not a deal I would make, but each company makes it's own decisions in this area. Many companies will claim to give "competitive" salaries, by which they generally mean that they try to keep your salary comparative to their competition and to what it takes to retain someone in your field. The question is - how well do they do and what can they share about the pay of actual employees in actual job roles in comparison to current industry standards?
answered Apr 9 '14 at 16:12
bethlakshmi
70.3k4136277
add a comment |Â
up vote
3
down vote
accepted
up vote
3
down vote
accepted
You can certainly ask. Good luck. I have yet to have heard of a case where this has actually been accomplished, and there would be work to determine what standard for "inflation" is agreeable to both you and the company. There are always numerous metrics to describe a financial condition, and you don't want to leave this vague if you want it to be effective.
If I were your company, I probably wouldn't agree. The overall rate of inflation of the country/state/industry may not closely match the company's growth in revenue. The money they have earned is the money they can use to pay you, and it really doesn't matter to the bottom line if other companies or people are making more money. If they are willing to commit to growing salaries in some fixed relationship to inflation, then they will be faced with being forced to layoff people when inflation has increased but revenue has decreased.
It's not a deal I would make, but each company makes it's own decisions in this area. Many companies will claim to give "competitive" salaries, by which they generally mean that they try to keep your salary comparative to their competition and to what it takes to retain someone in your field. The question is - how well do they do and what can they share about the pay of actual employees in actual job roles in comparison to current industry standards?
answered Apr 9 '14 at 16:12
bethlakshmi
70.3k4136277
You can certainly ask. Good luck. I have yet to have heard of a case where this has actually been accomplished, and there would be work to determine what standard for "inflation" is agreeable to both you and the company. There are always numerous metrics to describe a financial condition, and you don't want to leave this vague if you want it to be effective.
If I were your company, I probably wouldn't agree. The overall rate of inflation of the country/state/industry may not closely match the company's growth in revenue. The money they have earned is the money they can use to pay you, and it really doesn't matter to the bottom line if other companies or people are making more money. If they are willing to commit to growing salaries in some fixed relationship to inflation, then they will be faced with being forced to layoff people when inflation has increased but revenue has decreased.
It's not a deal I would make, but each company makes it's own decisions in this area. Many companies will claim to give "competitive" salaries, by which they generally mean that they try to keep your salary comparative to their competition and to what it takes to retain someone in your field. The question is - how well do they do and what can they share about the pay of actual employees in actual job roles in comparison to current industry standards?
answered Apr 9 '14 at 16:12
bethlakshmi
70.3k4136277
answered Apr 9 '14 at 16:12
bethlakshmi
70.3k4136277
answered Apr 9 '14 at 16:12
bethlakshmi
70.3k4136277
answered Apr 9 '14 at 16:12
bethlakshmi
70.3k4136277
70.3k4136277
add a comment |Â
add a comment |Â
up vote
3
down vote
I think it's entirely reasonable. I also think, though, that it's unlikely.
I've never seen such a clause in a contract and, while it's intrinsically unfair that many of us see our real-terms salaries decrease some (many) years, I think it's unusual for that not to be the case, unfortunately.
answered Apr 9 '14 at 10:31
Owen Blacker
20829
add a comment |Â
up vote
3
down vote
I think it's entirely reasonable. I also think, though, that it's unlikely.
I've never seen such a clause in a contract and, while it's intrinsically unfair that many of us see our real-terms salaries decrease some (many) years, I think it's unusual for that not to be the case, unfortunately.
answered Apr 9 '14 at 10:31
Owen Blacker
20829
add a comment |Â
up vote
3
down vote
up vote
3
down vote
I think it's entirely reasonable. I also think, though, that it's unlikely.
I've never seen such a clause in a contract and, while it's intrinsically unfair that many of us see our real-terms salaries decrease some (many) years, I think it's unusual for that not to be the case, unfortunately.
answered Apr 9 '14 at 10:31
Owen Blacker
20829
I think it's entirely reasonable. I also think, though, that it's unlikely.
I've never seen such a clause in a contract and, while it's intrinsically unfair that many of us see our real-terms salaries decrease some (many) years, I think it's unusual for that not to be the case, unfortunately.
answered Apr 9 '14 at 10:31
Owen Blacker
20829
answered Apr 9 '14 at 10:31
Owen Blacker
20829
answered Apr 9 '14 at 10:31
Owen Blacker
20829
answered Apr 9 '14 at 10:31
Owen Blacker
20829
20829
add a comment |Â
add a comment |Â
If you can get that into a contract then it is absolutely reasonable. If you can get new contracts with at least that rate of increase then absolutely. If you cant then no its not reasonable to expect them to do it anyway.
– IDrinkandIKnowThings
Dec 22 '14 at 18:35