We used to get 7% raises, now we’re down to 5%. I’m not complaining. We had a round of layoffs last Fall, and more spotty lay offs are occurring now. I’ve spoken to a few talent agents in the business, and there definitely seems to be a trend among them: salaries are being cut by 10% or more.
Oh, and we used to get bonuses that were roughly 30 – 40% of our salary. They were slashed in half this March (I’m not complaining! I wasn’t even expecting to get one this year), and we were informed in no uncertain terms that if the economy takes another dip (Gee, wonder if that will happen?) we should not expect to receive any bonuses for the foreseeable future…
I’ve got a contract through spring 2011, so I’m not especially worried – now. But the problem with layoffs is that the s*** just keeps piling up with fewer hands to deal with it. So the folks who “survive” a bloodletting just get reamed in a different way.
Never forget that hell can come in different forms. Unemployment is horrible, but 12-hour days that leave you primed for a heart attack and no time to spend with your family are no picnic, either.
