Cost of living pay rise

nickob

hi,

please can someone help me with this...

i currently work as a project engineer/manager, i have a lot of responsibilty and run a manufacturing company. I was earning £25000 PA with the benifit of also earning overtime, i work 50+ hours per week as this is required to ensure that i can complete all my task. On average over the last 2 years i have earned over £35000 PA, i have now been told that i should not be pad for overtime, so i have been put on a fixed salary of £28512. I was not happy about this, but i feel that i had no choice as i would be earning less without the overtime, all employees are due for a 3.5% annual increase (cost of living) in about 4-6 weeks times. can anyone tell me if i am entitled to this increase evem though i have justed updated my contract?

zarazara

dunno but my husband doesnt get a cost of living increase normally, in 8 years with his firm there has been 1 c of l increase in pay and that was 5 years ago.

-BA-

Interesting to read about the COS payrises. Guess some companies have decided to ignore the recommendations of the Bank of England that they risk pushing inflation higher with COS payrises. Having missed out on a payrise last year for financial climate reasons, I wasn't expecting one again this year after hearing what Mervyn King said a few weeks ago.

Even if we are lucky enough to keep our jobs in the firm I work for, I can't see them making COS payrises again this year.

Googlewhacker

-BA- wrote: »

Interesting to read about the COS payrises. Guess some companies have decided to ignore the recommendations of the Bank of England that they risk pushing inflation higher with COS payrises. Having missed out on a payrise last year for financial climate reasons, I wasn't expecting one again this year after hearing what Mervyn King said a few weeks ago.

Even if we are lucky enough to keep our jobs in the firm I work for, I can't see them making COS payrises again this year.

Sorry being blank, what does the S stand for?

-BA-

Googlewhacker wrote: »

Sorry being blank, what does the S stand for?

It's a silent S in living

Did I get away with that? Hehe...mental block I'm afraid. Meant COL but typed COS and guess I stuck with it

Googlewhacker

-BA- wrote: »

It's a silent S in living

Did I get away with that? Hehe...mental block I'm afraid. Meant COL but typed COS and guess I stuck with it

LOL I did wonder what acronym had missed out of

StLedge

Hi There

My wife has just been informed by her company that they will be paying a Cost of living increase. My wife was told that it would be 2% (not great, but what can you do), after chatting to colleagues about this the employees have discovered that some people got 2% while others got 2.3 and at least one person received up to 6%.

While there are no laws enforcing CoL, surely if CoL is given to one it must be given to all, and I would have thought it would have to be equal across the board.

Also, I have now been informed that the increase is decided by the 'Managers' who sit in a meeting room and if they do not know you or like you, then you are voted down by them, and it is up to your own manager to argue the point for you, surely that is illegal in some way.

SarEl

Nope it isn't. Employers can award whatever pay rates or rises this wish unless it contravenes to law on discrimination.

StLedge

So CoL increase can be decided by Team Managers in a room based on whether they know someone or not?

dave4545454

StLedge wrote: »

So CoL increase can be decided by Team Managers in a room based on whether they know someone or not?

of course, it's all about who you know not what you know.