Pay raises can be issued in four different scenarios:
Level Upgrades
The primary and most significant avenue for getting a pay bump is by earning a job level upgrade. These levels are micro-progressions within each job function and represent meaningful progress and growth for an individual.
Read more about level upgrade raises here.
Cost of Living Adjustments
Regardless of any progression or lack thereof, every employee will receive a COLA, every year. COLA’s are issued on each employee’s hire anniversary date.
Specific details about cost of living adjustments are documented here.
Salary Data Updates
On a routine basis, the data we use to set our pay rates will be updated. When this occurs, often the baselines for some of our job titles will increase. If those numbers, which we retrieve from a variety of third party sources, do increase enough for a given title that employees with that title fall below the new minimum pay ranges, those effected employees will have their salary increased up to that new minimum.
Read more about salary data updates here.
Promotions
As members of the team progress and the needs of the company evolve, there will occasionally be instances in which title change “promotions” are issued. These events signify a real and meaningful change in the duties and expectations for a given employee.
These title changes result in a new level setting and, normally, a new pay rate.
However, it is worth noting that we use a data driven system to determine pay and every title is benchmarked individually. It is possible with some title changes that a pay raise is not prescribed due to the market data, however that is unusual in most promotions.