Latest news with #payraise
National Post
3 days ago
- Business
- National Post
Ontario MPPs to get raises after 16-year freeze and access to new pension plan
Ontario members of provincial parliament are getting big raises and access to a pension plan, under legislation introduced by Finance Minister Peter Bethlenfalvy and passed with the support of all parties at breakneck speed. Article content Article content Shortly after members sent the pay raise bill barrelling through the legislative process — it spent about 13 minutes from tabling to passage — representatives from all parties stood shoulder-to-shoulder outside the chamber in rare agreement. Article content 'When we're looking for other candidates, qualified people, to actually direct the future of this province, for most of them, they have to take a huge pay cut to come here and give up, in many cases, pensions,' said NDP Opposition house leader John Vanthof. Article content Article content 'We're not going to build the future of this province by excluding the people who have the qualifications and have the knowledge to move us forward. So we're fully in support and I'd like to thank Premier (Doug) Ford and his government for, quite frankly, having the guts to do this.' Article content The base pay for Ontario's elected officials has been frozen since 2009 at $116,550, and the changes would boost the salary to $157,350, which is 75 per cent of what federal MPs make. That will still be less than what city councillors in Toronto earn. Premier Doug Ford's salary would rise from about $209,000 to about $282,000 and cabinet ministers would see their pay increase from about $166,000 to about $224,000. Article content The bill would also resurrect a pension plan for the members of provincial parliament, 30 years after the previous one was abolished by former premier Mike Harris' government. Article content Article content The new plan would see members enrolled in the existing Public Service Pension Plan, and they would then be entitled to supplemental benefits for MPPs who serve at least six years. Article content Article content Representatives of the Liberals, Greens and the lone Independent member also said it was time for the pay freeze to end. 'I want to thank the premier,' said Bobbi Ann Brady, who represents Haldimand-Norfolk as an Independent. Article content 'I want to thank the minister and the government house leader for righting what I feel is almost a 16-year wrong,' she said. 'I continually talk about the spirit of co-operation amongst us all and I think today there is a nice spirit of co-operation here.' Bethlenfalvy said it is the right thing to do. Article content 'I know that many people across the province work tirelessly each day to put food on the table and pay the rent,' he said. 'It's fair and reasonable. It'll be at 75 per cent of the federal compensation. It's still less than a Toronto city councillor will be paid or a Mississauga city councillor and we're going to work tirelessly each and every day, sometimes in different ways, to help all Ontarians.' Article content
Independent Singapore
6 days ago
- Business
- Independent Singapore
‘Should I ask for an increment after probation?' — Fresh hire wonders if he should ask for a salary raise after his boss increased his workload
SINGAPORE: A fresh hire who's been putting in more than his fair share of effort at work took to Reddit to ask if it's appropriate to request a pay raise after completing his probation. In a post shared on the r/askSingapore subreddit, the man explained that although his probation period is officially three months, it is common in his department for it to be extended to six. He also heard from colleagues that many don't pass probation due to the high expectations and stressful environment. Despite that, he feels optimistic about his chances. With just two weeks left in probation, he shared that his hiring director has praised him for learning quickly and performing well above expectations. 'She also started giving me more responsibilities and workload that is beyond what a trainee should be handling,' he added, noting that a fellow trainee who joined later is doing the bare minimum in comparison. The man also shared that he had asked for a salary slightly above the listed range during his interview. While he was ultimately offered S$200 less than his expected figure, it was still a raise compared to his previous job. However, his offer letter didn't mention a pay adjustment after confirmation, nor was it brought up in any discussion. Now, as his confirmation approaches, he wonders if it's appropriate to ask for a salary bump or if doing so would come across as pushy. 'Should I ask for an increment after my confirmation, even if they already pay me higher than the listed salary range?' he asked his fellow users. 'Will I leave a bad impression if my request fails (kinda risky)? When is the best time to ask? Before or after confirmation? Face-to-face or via text?' 'If you really want to, go for it.' Many users in the comments advised him to wait before requesting a pay raise. They pointed out that since he is already earning more than the advertised salary range for the role, asking for an increment so soon after probation might come across as hasty or overly eager. One user said, 'It really sounds very entitled. It's three months….I am sure some people have worked there three, five, seven, or 10 years. I think it's more appropriate for someone with that length of service to start asking.' Another commented, 'I wouldn't. Typically, there won't be any increment after probation since it's only a short period of time; companies usually do increments once or twice a year after your performance review cycle ends.' Still, there were others who felt that the man should at least broach the topic with his supervisor, so he wouldn't have any regrets down the line. One wrote, 'If you really want to, go for it; it's better than regretting that you didn't or thinking of 'what if I did.'' Another shared, 'I've had salary increments after probation in two of the previous companies that I've worked in; it wasn't stated inside the contracts, but I just asked because the ones managing me seemed quite satisfied with my work. It doesn't hurt to ask even if it wasn't negotiated. It's up to them whether they want to grant it or not.' When to ask for a pay raise According to recruitment agency Michael Page, it's usually best for employees to wait at least six months before asking for a pay raise. The agency also explains that a salary increase should generally only be discussed if someone feels they're being 'underpaid' for the role or if they've been consistently putting in strong work that goes above and beyond what's expected. Read also: Woman 'feels stuck after graduation' as she's been jobless for 6 months, says, 'I have applied to countless roles, even approached job agencies' Featured image by freepik (for illustration purposes only)
Yahoo
6 days ago
- Business
- Yahoo
How Much of a Raise Should You Ask for To Balance Out Inflation?
If you're seeking a pay raise this year to help balance out prolonged inflationary pressure, rising cost of living or even tariff-induced sky-high grocery bills, there is some good news. Everything seems up in the air under the new White House administration and its Department of Government Efficiency (DOGE), meaning employers are desperate to find and keep good workers, which gives you more bargaining power. Find Out: Read Next: The tricky part is figuring out how much to ask for. The U.S. inflation rate is estimated to be about 2.4% (Core inflation, which excludes volatile food and energy prices, is closer to 2.8%) per the latest CPI data. The obvious solution is to ask for a pay raise of say 3% or so to at least cover inflation. So, if your current salary is $60,000, a 3% raise would be $1,800. Though this seems pretty straightforward, that's not always the best strategy, according to many experts. Your first order of business should be to research pay rates not only for your specific industry and job, but also average pay raises across all industries. Traditionally, employers base raises on job performance rather than cost-of-living considerations. Cost of Living Adjustment (COLA) raises are often considered an expected annual boost to your paycheck, but that is not always the norm anymore. Companies today may even disguise what should be considered a COLA bump as a 'merit raise' or annual performance-based increase, offering anywhere from 0% for an average or underperforming employee to 3% for the top earners. However, annual raises in the United States typically range between 3% to 5% in general anyway. So, if you are lucky enough to get an automatic pay pump each year, it won't necessarily add any money to your bank account, as it will just help you keep pace with inflation. To ensure that your raise results in real wage growth, you might consider asking for a bump in pay that outpaces inflation, such as a minimum of 10% for standard work performance. Normally, asking for that high a raise is risky. But these aren't normal times, as several economic factors are relevant for thinking about salary negotiations right now, such as a pending recession, skyrocketing cost of living and a dramatic increase in food costs. Learn More: When it comes to the statistics of getting paid more for loyalty or finding a new position, many experts are on the fence. Though many would advise that it is easier to find a new job when you still have one, it still could be better for you to quit. There is no definitive stay or go solution, as it is case by case, but figuring out what that looks like for you will take time and thoughtful consideration. Ultimately, if you don't think your current position will ever increase your pay to what you feel you are worth, you should prepare to leave. The bottom line is that if you don't ask, you won't receive, but you might consider asking for a raise that aligns with what job switchers have received rather than what job holders have received. In this case, you can use the current inflation rate as a base for your request, then ask for a little additional money tied to your job performance. Even if you don't get the raise you want, experts suggest asking for other perks such as bonuses or flexible work arrangements that can help you save money. For example, working from home part of the time can cut down on commuting costs — a huge consideration during an era of record-high gas prices — as well as on things like dining out for lunch or grabbing a quick bagel and coffee on the way to work. Vance Cariaga contributed to the reporting for this article. More From GOBankingRates Are You Rich or Middle Class? 8 Ways To Tell That Go Beyond Your Paycheck 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on How Much of a Raise Should You Ask for To Balance Out Inflation? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
23-05-2025
- Business
- Bloomberg
NJ Transit Engineers Contract Will Hike Pay to Over $50 Per Hour
New Jersey Transit 's newly inked deal with its locomotive engineers would boost pay to more than $50 an hour, according to a person familiar with the negotiations. The starting hourly wage for NJ Transit engineers has been about $39.78 an hour, their union, the Brotherhood of Locomotive Engineers and Trainmen, said previously. The hike would bring the wages more in line with those at Long Island Rail Road and Metro-North Railroad. The union had been seeking parity with those neighboring agencies.
The Independent
23-05-2025
- Health
- The Independent
Strike action threatened after NHS pay increase revealed
Doctors are threatening strike action after receiving above-inflation pay raises of 4 per cent. The union argues the increases are insufficient to address historical pay freezes and rising living costs. Ministers announced the increases after the latest review of the public sector pay. Other NHS workers, such as nurses, midwives, and physiotherapists, will receive a 3.6 per cent pay rise, but some unions are considering rejecting the offer, arguing that it is 'entirely swallowed up by inflation'. Other public sector workers, including armed forces personnel, prison officers, and judges, will also receive pay increases.
