I've been lucky to have a HUGE project to keep me busy, but it is winding down and there may be a lag before the next projects in the pipeline hit us...no layoffs announced so far, but we have had the dreaded "work is slowing down" department meeting.
I'm curious to know if people got salary raises last year, and if they are expecting any raises this year?
My firm had to cut down 10 ~ 15% of the staff last year, and we had no raises (though we received the regular mid-year bonus, and holiday bonus). It seems we will be getting a raise this year, but I'm not expecting much that would recoup from last year.
I got a 15% salary cut all of last year... just restored recently. No bonuses, no raises, no back pay.
Mar 12, 21 10:59 am ·
·
molten
Only got a COL increase (3%) this year. Were told by partners that they were being conservative since they weren't sure how 2021 would fair. So far, so good. Thinking we'll be getting another small increase mid-year. I got my largest bonus this past year though, I'm busy, so I can't complain.
Only received COL (2% I think - to everyone) but still got my profit % and xmas bonus in full. No salary cuts or layoffs and everyone's pay was guaranteed between March and August regardless of how many hours they could do while WFH. Things are starting to pile up atm...
Mar 12, 21 11:31 am ·
·
tduds
We took a cut last summer (from 5% for junior staff up to 25 or 30% for principals), but were retro paid back at the end of the year (in lieu of a bonus). Just this week we restored salaries, also with retro pay. No raises, but no layoffs. Things seem to be looking bright going into the spring!
*fingers crossed*
Had a 20% pay cut early in the pandemic, which had retro pay as PPP helped (this only lasted a few weeks). During fall, paycut came back at 10% and lasted pretty much until I left that firm. No bonuses. My raise came when I recently switched firms.
Mar 12, 21 11:44 am ·
·
poop876
We gave everybody 10-12% salary increase. We didn't slow down at all and I truly hope it stays that way. I'm also looking for more people and that has been very difficult.
My firm does raises/bonuses around the start of march, and implements raises start of April. I got a 15% raise last year... but they held back implementation until October.. so I took almost a 10% pay cut for the year depending how you want to look at it. I had already received my bonus before the pandemic started though. This year I got about a 4% raises, and a bonus to match... they let go or furloughed about 15 people in the last year in our office...
No raises that I was aware of in our office last year. We did have to lay off a handful of people and reduce a handful more to 1/2 time and 1/2 salary. We also had partners and principles take a reduction in salary. I think most of the 1/2 time and salary folks are back to full at this point but there might be one left. I don't know if the partners and principles have their full salaries back yet.
We have made one or two strategic senior level hires and have openings for other PM and PA positions. I did get a bonus in December.
I'm curious to see if we get raises this year. I want to believe yes, but I also don't want to get my hopes up. We've got work and I think the lay offs were more strategic than anything else.
So Goldman Sachs projects a whopping 8% GDP growth in the US for 2021. With covid restrictions easing and establishments starting to breathe life, I'm starting to see a lot more optimism. Hopefully, this is the end to the layoff era.
Mar 17, 21 6:14 pm ·
·
thisisnotmyname
I wonder how much of that 8% is going to be in the construction sector versus stuff like people eating out again and going on trips.
COVID-19 Lay-off Thread
I've been lucky to have a HUGE project to keep me busy, but it is winding down and there may be a lag before the next projects in the pipeline hit us...no layoffs announced so far, but we have had the dreaded "work is slowing down" department meeting.
I'm curious to know if people got salary raises last year, and if they are expecting any raises this year?
My firm had to cut down 10 ~ 15% of the staff last year, and we had no raises (though we received the regular mid-year bonus, and holiday bonus). It seems we will be getting a raise this year, but I'm not expecting much that would recoup from last year.
I got a 8% raise last year.
I got a 15% salary cut all of last year... just restored recently. No bonuses, no raises, no back pay.
Only got a COL increase (3%) this year. Were told by partners that they were being conservative since they weren't sure how 2021 would fair. So far, so good. Thinking we'll be getting another small increase mid-year. I got my largest bonus this past year though, I'm busy, so I can't complain.
I'm really sorry to hear about the tough times people are going through. It dose look to be improving at least.
We've been really fortunate here in western Colorado. We never had a work slow down and as such never had a pay cut.
In fact we're so busy right now we just hired a new PM, and are still looking to hire another PA, and interior designer.
Only received COL (2% I think - to everyone) but still got my profit % and xmas bonus in full. No salary cuts or layoffs and everyone's pay was guaranteed between March and August regardless of how many hours they could do while WFH. Things are starting to pile up atm...
We took a cut last summer (from 5% for junior staff up to 25 or 30% for principals), but were retro paid back at the end of the year (in lieu of a bonus). Just this week we restored salaries, also with retro pay. No raises, but no layoffs. Things seem to be looking bright going into the spring! *fingers crossed*
no raises across the board, and small bonus. talk of raises being retroactive in the future, but who knows.
but no one was fired, and no one's pay or time was reduced. so over all, fortunate.
Had a 20% pay cut early in the pandemic, which had retro pay as PPP helped (this only lasted a few weeks). During fall, paycut came back at 10% and lasted pretty much until I left that firm. No bonuses. My raise came when I recently switched firms.
We gave everybody 10-12% salary increase. We didn't slow down at all and I truly hope it stays that way. I'm also looking for more people and that has been very difficult.
My firm does raises/bonuses around the start of march, and implements raises start of April. I got a 15% raise last year... but they held back implementation until October.. so I took almost a 10% pay cut for the year depending how you want to look at it. I had already received my bonus before the pandemic started though. This year I got about a 4% raises, and a bonus to match... they let go or furloughed about 15 people in the last year in our office...
No raises that I was aware of in our office last year. We did have to lay off a handful of people and reduce a handful more to 1/2 time and 1/2 salary. We also had partners and principles take a reduction in salary. I think most of the 1/2 time and salary folks are back to full at this point but there might be one left. I don't know if the partners and principles have their full salaries back yet.
We have made one or two strategic senior level hires and have openings for other PM and PA positions. I did get a bonus in December.
I'm curious to see if we get raises this year. I want to believe yes, but I also don't want to get my hopes up. We've got work and I think the lay offs were more strategic than anything else.
So Goldman Sachs projects a whopping 8% GDP growth in the US for 2021. With covid restrictions easing and establishments starting to breathe life, I'm starting to see a lot more optimism. Hopefully, this is the end to the layoff era.
I wonder how much of that 8% is going to be in the construction sector versus stuff like people eating out again and going on trips.
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