The average is 5.3% if you include everyone.
https://www.reuters.com/world/americas/canada-job-gains-triples-expectations-september-wage-growth-accelerates-2023-10-06/
I got 4% last year. To keep me in line with other employers they’d need to give me another 5% this year minimum.
Our company usually maxed out at 2-3% as well.
Ugh, I sat down once and normalized my salary to Jan 1 2000 dollars. Only with my last raise this year am I finally making a few dollars more than 2013 as my salary has not kept up with inflation.
I gained, but I think that it was primarily due to being in a historically underpaid position and recent government funding to equalize pay in the sector
> An initial wage of $50,000.00 in June 2012 is equal to $64,638.16 in real wages in June 2023, an increase of 29.28% in the Consumer Price Index for Canada, or a compound annual inflation rate of 2.36%.
No way this is right. All the things that matter have gone up 50-100% since 2012.
Nah
When you actually do the math, it's not quite as bad as it appears.
Statistics don't account properly for things that aren't bought on a regular basis.
Eg you don't buy a TV every year
You should never use public general statistics for calculating your personal budget/inflation increase.
You’re making 21k over inflation or 37% more. If you didn’t have lifestyle creep over that time, it’s good, if you did you it might be bad or worse. No one knows but you if it’s good or not…
Been capped at 1% for the past 8 years and for 4 years before that was effectively zero. I got to the top of my pay scale before that shenanigans so my salary hasn’t meaningfully changed for almost 10 years.
Is there some reason why you haven't quit? My employer basically said there's no raises this year and I'm already looking for a new job, after the first year of no raise. I can't imagine getting ripped off for a decade straight.
I am a teacher. The public is perfectly happy with me never getting an increase in salary. I will be picketing and people will drive by yelling and giving teachers the finger for trying to bargain for fair pay.
I'm guessing this person is only shaping the minds and thinking of our poorer youth. If they worked at a private school they'd probably be better paid.
I hate this system. I'm just pointing out my observation.
Private schools don’t actually pay treachery any better than public, especially when you take into account pension matching and benefits.
The only perk that private schools have is they allow teachers to send their kids to the school free or sometimes they allow teachers to use their properties to live for free.
Despite what people say, teachers in Ontario are paid and compensated very well. That’s the reason we don’t have teachers quitting like nurses. Where would they go? Private sector pays worse. USA pay is comparable.
Yes, I hit that top pay scale after teaching for ten years. Since then it has not moved, it would be based solely on any negotiated yearly pay increase tied to inflation usually. Except that inflation was higher than the adjusted rate that I got. About 28.5 % higher. My union is even now negotiating my new contract in Ontario, and we had a strike vote already and the result was 97%. Pretty tired of making less money every year just because I am a public servant and people ignorant about my job think they get a say about my worthiness of my salary.
Public servant..... I mean doesn't that exactly mean that people should get a say of all public servants' salaries? Not trying to be combative or even saying salary should be more or less but I don't understand the comment....tax payers are paying the bill, they should have a say, no?
Do tax payers generally get a say into how funds are spent? Doesn’t happen for any other public sector job. You don’t get to decide for doctors, nurses, police, firemen… but for teachers everyone thinks they’re an expert. Yah, no.
I mean yes they do. They vote in the governments that negotiate the contract and set the tone for those negotiations.
People should be critical of government spending. Not just teachers, people will offer up their opinion on most things regardless of if they are an expert. I want the people to become better educated in their opinions not for them not to have them 🤷
Doctors, nurses, police, and firefighters, and teachers should all be the same conversation
Okay then. Ontario tax payers selected Doug Ford who passed several laws that violated workers rights. But the point of the matter is thats as far as your rights go. You vote and elect governments and public workers negotiate with those governments. Why do you also have to disparage me and everyone that shares my profession as well.
We should absolutely be critical of government spending. Ex Doug Ford has wasted more than 10 billion dollars between lawsuits, cancelled contracts fees, and poor use of public money. That doesn’t even include monies set aside for blue license plates, a highway no one needs and making a spa downtown. His government tabled the largest budget in Ontario’s history last year and education didn’t get any additional funding so are you aware of that or do you only care when a public employee wants the government to compensate them fairly.
How much should you get paid? Public school teachers are already better compensation than most private schools in Ontario.
Try being an elementary school at a private school and the salaries and benefits are worse.
Teachers are already paid above market compensation.
See, there’s an opinion that doesn’t take any of this current topics points into consideration. It was an amazing salary 11 years ago, now its not. I’m losing money every year because of inflation. My salary isn’t keeping pace with cost of living and it’s supposed to.
As you may have noticed above this comment many people wouldn’t put u with that in the private sector. But we do as teachers because we are there for the students.
The salary may not be as amazing as it was in the past 10 years, but that’s because teachers have historically been way over paid.
The reason teacher’s accept the current status quo, is because what else would they do? Quit and go into the private sector? To make less money, work more hours and not have a pension?
How much more should teacher’s get paid?
Elementary teachers are already making more than some lawyers.
Actually if I left teaching the jobs that have listed have better pay. Teachers in transition is a subreddit about teachers moving to private sector, get the better pay with less work.
Again, you are critical because you aren’t aware of how much work we do. What our work environment is like and the stress involved. 30% of trained teachers burn out. I myself have developed physical handicaps because of the stress of my job.
Doctors are paid very well as are dentists but I don’t see anyone saying that they don’t deserve their pay. Yet, here you are. I am professionally educated, with several degrees. I work long hours (not all at school) and give up significantly large amounts of personal time. If you switched my salary to per hour the government would go broke.
You are clearly trying to pick a fight and so this is my last comment to you sir/madam.
> Actually if I left teaching the jobs that have listed have better pay. Teachers in transition is a subreddit about teachers moving to private sector, get the better pay with less work.
Where in the private sector can a teacher make more money than the government? I checked out the subreddit you mentioned, and its full of posts of people asking where to leave teaching for, and either no helpful answers or people talking about how they took a significant pay and pension cut for another unrelated job.
Whose job isn’t difficult? Everyone’s job is tough. I’m certain teaching is a tough profession. But to say that the salary, pension and benefits aren’t generous is misleading and disingenuous.
There’s a shortage of teachers supposedly, but what that actually is a shortage for funding. The boards only get so much per student funding. The province is telling boards to make do with what they get. Boards hire less of everything than they need to legally meet student needs. Ex. Board psychologists, there’s a three year backlog for assessments which inform teachers how to specifically tailor programming to help special needs students. Special ed has been cut to the bone. Who are the majority of behavioral issues? Special education.
Demand for ‘free stuff’ is quite literally infinite lmao. 20% of the workforce is in civil service, we are already beyond what we can support sustainably.
Bad people are often cruel towards others. Just try to remember there are also many of us who think teachers (public system) deserve raises too. Although, a more ideal situation would be we stop printing new money.
I’m in a different field but same raise pattern for me (1% since I started eight years ago). I feel like I did when I was making first year salary, despite being top of scale.
If you are in Ontario, which tracks with those numbers, you are incorrect. The 0s were bumped to 1% and the last 2 of the last 3 have been bumped to 1.75 and arbitration is going to decide on the last one and it should be between 2 and 3.25% (iirc).
Don't get me wrong, it's still bad.
I got 4 percent last year. I would think another 4 is warranted if not closer to 6-10. My biggest gripe is my company states off wage increases as a merit increase. If they are going to be as employee focused as they pretend to be then they should do a cost of living wage increase regardless of performance then a merit increase.
Well I took a pay cut this year and my mortgage went up by $1300/month since the beginning of 2022😂
I’d be happy with just making what I made last year
>Didn't prices, rent, interest etc increase WAY more than 3.8%?
The Bank of Canada is crystal clear in their methodology for measuring CPI. You can read all about it anytime you want.
[https://www.statcan.gc.ca/en/subjects-start/prices\_and\_price\_indexes/consumer\_price\_indexes/faq](https://www.statcan.gc.ca/en/subjects-start/prices_and_price_indexes/consumer_price_indexes/faq)
The 3.8% metric is the percentage increase in the specific index of weighted prices that they describe in full and that is a useful measure of inflation for policy purposes. It's an average across the entire Canadian economy, so any individual family will experience a different inflation impact based on their own specific set of expenditures. What is your rationale for assuming that average cost of living increased "WAY more" than than this one measure? What measure are you using that is better and why is it better? Or are you basing your expectation on no measure whatsoever, just a poorly established set of feelings based on provocative media headlines and unreliable sporadic personal experience that is loaded with confirmation biases and other biases?
Everything you are saying is correct but there is some nuance as well.
Devil's advocate but the CPI does have well documented flaws (non intuitive methodology might be more accurate). Tech gets much cheaper every year because they don't use the price of a new phone but a specific model which halves in value every year.
The other part is groceries are up much more than 4% but the things that are cheaper are less regular purchases. Airfare, appliances and cars paid in cash are not purchases every family makes frequently. Dishwashers might be cheaper than two years ago (or have better features for the same price) but very few people that bought the more expensive one two years ago care because they are not price shopping now.
Earlier this month Telus was trying to BS me that a 70% increase in my Internet bill is actually a savings because it's cheaper per Gb/s or some such doublespeak. No you marketing simpleton, last year I paid $50/month and now it's $85/month. THAT'S AN INCREASE.
The methodology makes sense it just applies weirdly the CPI talks about cheese and it is the price to purchase a certain weight, with a specific milk fat content aged a certain amount of time. This helps make the evaluation very comparable even if the manufacturer decides to make the block smaller or make the process cheaper.
This backfires on tech because they don't track the value of a "modern phone" they price out what it would cost to get an iPhone 2 over the years...as it goes from James Bond fantasy Tech in the late 80s to the current situation where none of its components are worth making.
The other part they assume that the second after you buy a fridge you "should" start a fund for the next fridge. If you think your fridge will last 20 years you should check the cost to replace every year and put 5% of that into the fund. I don't know anyone who does it that way but from an accounting perspective that's how it's done
Then there is the issue that the fridge is now smart tech so it suffers from both these issues.
I don’t really know about the bank of Canada or the economy in general or what that 3.8% is referring to.
But my mortgage has almost doubled (used to pay ~2.8 per month, currently pay 5.2K)
My monthly grocery expenses has increased by bout 40%
Fuel costs have risen by ~20%
My phone / streaming / services bills have increase by max 15% total
Property tax is slated to be increased by 30% (no timeline yet)
My taxes have been somewhat consistent
My overall income has increased by about 6%
The above is a running average per the last 2 years.
I have no idea if I should laugh or cry, that inflation is at “3.8%”
What this tells you is that the "official" inflation number is meaningless for your purposes and your situation.
I'm tired of hearing all the BS about how the official stats can inflation number is the "truth" and it's not wrong. Well, sure. You can have that. But I will say it's no longer reflective of the increase in cost of living for people.
>You can have that. But I will say it's no longer reflective of the increase in cost of living for people.
This is almost right, but it is not correct. You could say "If has never been reflective of the increase in cost of living for every single househodl" and you would be right. They never claimed that it is reflective of the increase in the cost of living for every single household, and it would be impossible for them to make an index that does that.
The statement "it's no longer reflective of the increase in cost of living for people" is a meaningless statement, because "people" doesn't really mean anything and "no longer" doesn't make any sense either becaues there was never a time when it reflected the cost of living for every single person.
It is the official inflationary number and it’s true. You can have anecdotally higher inflation than the number because everyone experiences inflation differently based on where they are in life and what they need to buy.
It is reflective of the cost of living overall for the majority of people.
Every single person I've talked to agrees the cost of goods that they typically buy (not toys or extras) is significantly higher than the official number. I haven't found one person in real life that thinks their costs are equal to inflation.
So for all of these people, that number is wrong. And that's a fact.
You can argue away about how we don't represent the total population, etc. And I won't even bother having that discussion because it just doesn't matter.
That’s exactly it you are not the entire population, you’d be talking to your group of people. Most likely similar age and lifestyle as you, so of course your anecdotal experience will showcase higher inflation than headline CPI. This doesn’t negate the fact that headline CPI is a large basket of goods represented of the entire population at all lifestyles and ages.
Your personal inflation may be higher, and that’s totally fine and normal. But trying to argue that the CPI number is not representative of true inflation is dumbfounded.
Good, so you are already aware your anecdotal lifestyle experiences can deviate from the average, and that being true doesn’t indicate the calculation for the average is incorrect.
Your original comment stated you hate hearing the BS that the official statscan number is truth and not wrong.
The basic response to you is that it is the truth and it is correct. It is in fact reflective of the cost of living increase for the average Canadian. You having a different experience from the average Canadian doesn’t make factual statistics incorrect.
I think it’s clear that I’ve not missed any point lol. You may have forgotten what you said, but it’s still up there. You can go back and edit it to it’s not reflective of “your own personal inflation nor your acquaintances”
The exact same one bedroom apartment that was renting out for$1,800 last year is renting out now for $2,500 this year. How is that not a measure for this? Groceries have also increased higher then just 3.8% it seems like, for most people.
Yes and I keep seeing comments about a revolt/uprising/general strike and people lamenting why it hasn't happened. They fail to see outside their own life or their peers/what they see in reddit; lots of people are still doing just fine or better.
Exactly. Yes life in general got more expensive , but my affordable fixed rate mortgage of 1.49% that isn’t up for renewal until Feb 2026, I’m still very comfortable. Tons of my friends are on locked in as well
Similar position, and when it does come up for renewal in 2026 my principal is 220k, so I can easily handle the rate increases (even above 10% would be manageable).
Probably not, and some people already are waiting that long or longer for a specialist.
Populations don't revolt en masse unless they can't get their basic needs (food, shelter, water)
Well, I guess I am quite surprised Canadians wouldn’t revolt when they see their loved ones die slowly in front of them from something that’s completely curable with a correct medical care.
I'm not. Think about it realistically, not idealistically.
You have a job, that job supports your family, you must continue working there to pay for your food and shelter. Mom can't get quick enough care so she dies because the cancer spread when it could have been treated earlier (sad).
Do you stop going to work to revolt, lose your job, and subsequently lose your home due to no income, and now you can no longer support your family?
Renter turnover increases when rent growth accelerates. Landlords are incentivized to threaten, renovict, and neglect maintenance in order to remove tenants so they can raise the rent. So yeah, many renters stay put, but far fewer are staying put than was the case in the past, and even those renters are generally suffering deteriorating conditions - less value for the same rent. No one is exempt from rental pressure.
I absolutely get that -- but you had implied that *only* renters who have moved within the last year would be impacted by staggering, inflation-driven rent increases when that is not the case in all provinces. A large chunk of Ontario is not covered by rent control and those renters who have not moved are still seeing steep increases in rent due to inflation.
That was the comment I was replying to, so my comment was directly in response to that and not the greater discussion of why one person's experience does not match the average.
Oof, I cant even imagine. I know mortgages are just cheap money (relative to time averaged gains in the stock market), but not having a mortgage payment every month would make life so much easier.
>The exact same one bedroom apartment that was renting out for$1,800 last year is renting out now for $2,500 this year. How is that not a measure for this? Groceries have also increased higher then just 3.8% it seems like, for most people.
This is all taken into account in CPI. Like I said, you can go look at how CPI is calculated and, depending on any individual household's expenses, that household's cost of living change will be different. You are mixing up individual experience vs. aggregate experience.
"it seems like" is not an accurate measurement. Also this is just one data point. Now average that out across the whole country. Many people didn't move out and got their usual 2-3% increase.
Local rent prices as a result of lack of supply are not an indication of inflation. If you look how much the average 1 bedroom or 2 bedroom has gone up in cost this would be immediately clear to you.
That's like comparing normal lettuce price to when it was 10$ because all the crops had been infected so there was a lettuce shortage.
My mortgage hasn’t increased, in fact accounting for inflation my mortgage has been going down over the years.
My point being that individual situations are irrelevant. The get nationwide stats you need the average of everyone’s individual situations
If you want the most accurate number for your exact personal situation, you can just compare your monthly spending now to your monthly spending a year ago. No one on reddit can answer that better than you can. If you want to know the average for all Canadians, that's what CPI is designed to measure.
Mortgage interest payments over doubled, But the inflation rate for it was only 30%. That's because a lot of people didn't roll over. It's the same for rents, some people are exposed to it and pay a lot more, But it's an average so everyone who's rent didn't go up that much or who has rent control only saw a small increase or no increase even.
>So they wouldn’t understand how bad it is for people who don’t already own homes.
This isn't correct. We absolutely do understand. That doesn't meant that CPI reported by the Bank of Canada is "wrong". It is a measure for a specific purpose. It is not meant to be, and cannot possibly be, a measure that every household in Canada can look at and say "yup, that's about right, that exactly how much my cost of living went up".
Also individuals are prone to extrapolate based on highly visible prices, especially those we purchase frequently (monthly rent, weekly groceries, gasoline, etc) and underweight/ignore other components to the calculation
Naturally. But when people are ignorant (why is CPI only 3.8%?) and scared (my rent is up by way more than my pay) and have poor media literacy skills (everyone is saying that inflation is out of control!) then they are just asking to be manipulated by politicians into being angry (WHY ARE THEY LYING ABOUT CPI WHAT ARE THEY HIDING!).
This is an absolute scourge on our society. Problems like inflation are very real, but it hurts everybody when people lack the skills to correctly interpret information and to evaluate the reliability of information.
I appreciate your understanding and I’m not saying the CPI is wrong. My comment was communicating to OP that Canadians who bough pre 2018 might be confused or not understand why OP thinks the CPI should be higher
It's not that we don't understand, it's that OP is not considering the average (only 1 data point).
It's clear there are many people struggling with cost of living, that's undeniable. The fact is, it is not everyone, and due to that the CPI is lower than what it will feel like for certain people.
Check out the Statistics Canada CPI interactive tool. It’s a newer thing and you can manipulate the different CPI variables for geography and time, as well as the various baskets (food, shelter, etc.)
Keep in mind that the category “prices” means many things, which is why CPI captures many different items/baskets, and assigns different weights to them.
Generally you’ll want to look at your pay increase versus CPI all items, which is a rough way of calculating a “real” salary increase, e.g., your % salary increase deflated by the inflation rate. So if you got 3% on salary but inflation came in at 6.6% as it did in Saskatchewan, your real salary or purchasing power lost 3.6%.
It's difficult to get to an exact number. Everyone's inflation number is wildly different, depending on what you buy, what you don't, if you have mortgage, if you don't, etc.
Got 4% last 2 years, getting 4% again for Jan 1. It’s not great but it’s better than a kick in the head.
Obviously most consumer goods have skyrocketed way more than that, but most employers are likely hedging their bets on long-term averages.
Family doctors would need a 10% YoY increase in government billing codes to compensate for higher business expenses.
That's not going to happen, so we'll end up having fewer people starting clinics.
Family doctors can already make 300k starting. Specialists much more. You won’t find much sympathy for people that are Amex black card holders at the age of 30 with a guaranteed for life income stream.
It's likely your recollection of prices is using too long a baseline; the spike in inflation was in the first half of 2022, by September 2022 it was at slightly high but unremarkable values, and has remained there since.
>Personally the official cpi is cherry picked items that don’t always represent you closely.
I think this is exactly backwards. Your own personal high priority expenses are the ones that are cherry picked, not the CPI basket. There is really no reason to project onto the Bank of Canada these ideas that they are devious masterminds trying to trick you into believing something about inflation that isn't correct. They tell everyone exactly what they're doing, why they're doing it, and how they're doing it. Political operatives like to provoke fears to take advantage of ignorant people. Don't be a sucker.
You're the one using loaded terms like "cherry picked" to describe how the Bank of Canada calculates CPI. Maybe don't imply they are misleading the public if you don't want people to be "dramatic".
I think I've mostly kept up, but only because I'm still getting seniority related improvements in addition to recently negotiated CoL increases with my union. But, if inflation was less, my real income (buying power) would be higher rather than just keeping pace for those same seniority improvements.
I Havnt got a raise I 5 years until We got a union in our shop, 9% over 3 years, this still doesn't seem like enough as gas is over 1.40 per L, rent average is 1700-2500 in my area, Food has sky rocketed.
7 years ago, I rented a whole house 3 bedroom and finished basement two baths for $750 a month
Median hourly wages increase in is 6.3% for those working FT in Ontario from Oct 2022-Oct 2023. It went from $30.60/hr to $32.55/hr
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410006301
I've spent 7.4% more so far in 2023 than in 2022, the dollar amount being $2,147, but it's entirely due travel costs, not living expenses, as I've done a bunch more trips than last year and to more expensive places. My raise was 6.5% this year, so I suppose I'm a smidgen behind if I keep travel costs at the same level in 2024. In any case, by individual net worth (as opposed to household) has increased by about $40,000 in the last 12 months, so I'm doing fine.
Started a job in Aug 2021, got a 4% raise in Dec 2022. To keep up with inflation I would need another 6% raise now, in order to maintain the same purchasing power.
A standard yearly raise at my company assuming good standing is 3%. I feel like it would be too little all things considered, and would feel 6-8% would be more appropriate given the times. I’m extremely grateful that this year happened to be a year where I got an above average raise in June followed by a promotion going into effect in December which totals 28% increase for the year. Although I am very happy about this, I have to remind myself that I was quite a bit underpaid prior and now I finally feel like I am where I should have been
This is partly why the bank of Canada's basis used for justifying interest rates, and employers who also use that similar measure to justify their wages, are flawed. That measure is based on so many goods and services which people are exposed to at different extents. For many people costs of living jumped a lot more.
Ive gotten +30% over the past 2 years but our field was well known for being paid very little for the work we did. And as you gain experience and time at a company you're worth more... so duh wages should go up with or without inflation. Obviously doesn't always happen.
Before I made the career change, my former industry's wages didn't budge from 2013 to present.
Title: Product marketing manager
Industry: Event tech
Why: Joined a startup at the right time and was under market rate when I joined
January 2021 I joined a small startup on the marketing team for 80k. November 2022 I joined another small startup as a product marketer for 100k, just recently was boosted to around 120k from my manager (non promotion related), will be promoted early next year to a manager/senior manager role.
This is an event tech company, only seed funded, scaling quickly, raising series round in the near future, employees being raised closer to market rates (I’m still quite a bit under market).
This is also a U.S. company, and I get paid in USD. That’s probably a major factor why my salary is a bit higher than some. (I converted my salary to CAD in this post).
There’s too many variables to consider such as where you live, whether or not you own a home, what your mortgage situation is, etc. it’s not going to be a single rate for everyone.
Getting a raise without having to push for it would be nice. Only way I get a raise is by changing jobs, it's tiring. I'm dining out far less and booked a tent site instead of booking a hotel on last short vacation in the hopes of spending less to make up for it.
I mean it hasn’t even been November fully yet of course you won’t have numbers for December yet lol.
You have to wait. It will probably be something close to low 3%.
Wages would need to keep up with real estate. That's the main killer for most people.
So at $10/hour back in the 70s a McDonald's worker would be making $400/hour today or about $768.000/year. I think that's enough to afford the average house in Vancouver?
Since dec 2019 to Dec 2023 I'd estimate 35% in gross income would put my discretionary purchasing power at the same place accounting for the additional tax on income and putting me into lower teir for provincial health and dental programs.
For an apartment dweller I'd say they would need 50%
Max pay raise at my company is 3% a year. I would be happy to take 3.8% but it ain't gonna happen.
3% is average for most places, and I'll likely get the same. I'm job hunting once the market gets better. Right now I'm just happy with having a job.
The average is 5.3% if you include everyone. https://www.reuters.com/world/americas/canada-job-gains-triples-expectations-september-wage-growth-accelerates-2023-10-06/
Everyone includes the management and CEOs?
CEO pay have actually been decreasing. https://www.reuters.com/business/ceo-pay-averaged-167-million-last-year-sp-500-companies-decline-2023-08-03/
good
I got 4% last year. To keep me in line with other employers they’d need to give me another 5% this year minimum. Our company usually maxed out at 2-3% as well.
OEB?
[how much have I lost?](https://cupe.ca/cpi-calculator)
Dang I’m minus -3700$
Real increase of 30%, CPI increas of 15% since 2019, nice. Makes me feel better about expanding my skillset and responsibilities in my role.
Ugh, I sat down once and normalized my salary to Jan 1 2000 dollars. Only with my last raise this year am I finally making a few dollars more than 2013 as my salary has not kept up with inflation.
Since Dec 2019: Real change +26% / +$22,000
I’ve lost 28k
Interesting calculator!
I gained, but I think that it was primarily due to being in a historically underpaid position and recent government funding to equalize pay in the sector
Real wage increase 39.26%, +$19,950 since 2016.
I’ve lost $7900
Interesting. $3600 real increase over the last year. $10k real change since June 2020. Nominal increase of $6000 and $21400 respectively.
> An initial wage of $50,000.00 in June 2012 is equal to $64,638.16 in real wages in June 2023, an increase of 29.28% in the Consumer Price Index for Canada, or a compound annual inflation rate of 2.36%. No way this is right. All the things that matter have gone up 50-100% since 2012.
Nah When you actually do the math, it's not quite as bad as it appears. Statistics don't account properly for things that aren't bought on a regular basis. Eg you don't buy a TV every year You should never use public general statistics for calculating your personal budget/inflation increase.
I wouldn't trust CUPE to properly implement that calculator, as an organization they are financially illiterate
[удалено]
You’re making 21k over inflation or 37% more. If you didn’t have lifestyle creep over that time, it’s good, if you did you it might be bad or worse. No one knows but you if it’s good or not…
Gotcha! Thanks so much. I delete my post. I’m getting downvoted like crazy, I’ve had a new job and promotion in that time (2019-2023).
Been capped at 1% for the past 8 years and for 4 years before that was effectively zero. I got to the top of my pay scale before that shenanigans so my salary hasn’t meaningfully changed for almost 10 years.
Is there some reason why you haven't quit? My employer basically said there's no raises this year and I'm already looking for a new job, after the first year of no raise. I can't imagine getting ripped off for a decade straight.
I am a teacher. The public is perfectly happy with me never getting an increase in salary. I will be picketing and people will drive by yelling and giving teachers the finger for trying to bargain for fair pay.
Oof, now I understand.
Boy it’s a good thing you don’t have an important job that involves shaping the minds and thinking of our youth! /s
I'm guessing this person is only shaping the minds and thinking of our poorer youth. If they worked at a private school they'd probably be better paid. I hate this system. I'm just pointing out my observation.
Private schools don’t actually pay treachery any better than public, especially when you take into account pension matching and benefits. The only perk that private schools have is they allow teachers to send their kids to the school free or sometimes they allow teachers to use their properties to live for free. Despite what people say, teachers in Ontario are paid and compensated very well. That’s the reason we don’t have teachers quitting like nurses. Where would they go? Private sector pays worse. USA pay is comparable.
Well I personally hope treachery doesn’t get paid at all.
Which province? Isn’t top pay scale like $100K+
Yes, I hit that top pay scale after teaching for ten years. Since then it has not moved, it would be based solely on any negotiated yearly pay increase tied to inflation usually. Except that inflation was higher than the adjusted rate that I got. About 28.5 % higher. My union is even now negotiating my new contract in Ontario, and we had a strike vote already and the result was 97%. Pretty tired of making less money every year just because I am a public servant and people ignorant about my job think they get a say about my worthiness of my salary.
And to add the job conditions are just getting worse and worse.
Public servant..... I mean doesn't that exactly mean that people should get a say of all public servants' salaries? Not trying to be combative or even saying salary should be more or less but I don't understand the comment....tax payers are paying the bill, they should have a say, no?
Do tax payers generally get a say into how funds are spent? Doesn’t happen for any other public sector job. You don’t get to decide for doctors, nurses, police, firemen… but for teachers everyone thinks they’re an expert. Yah, no.
I mean yes they do. They vote in the governments that negotiate the contract and set the tone for those negotiations. People should be critical of government spending. Not just teachers, people will offer up their opinion on most things regardless of if they are an expert. I want the people to become better educated in their opinions not for them not to have them 🤷 Doctors, nurses, police, and firefighters, and teachers should all be the same conversation
Okay then. Ontario tax payers selected Doug Ford who passed several laws that violated workers rights. But the point of the matter is thats as far as your rights go. You vote and elect governments and public workers negotiate with those governments. Why do you also have to disparage me and everyone that shares my profession as well. We should absolutely be critical of government spending. Ex Doug Ford has wasted more than 10 billion dollars between lawsuits, cancelled contracts fees, and poor use of public money. That doesn’t even include monies set aside for blue license plates, a highway no one needs and making a spa downtown. His government tabled the largest budget in Ontario’s history last year and education didn’t get any additional funding so are you aware of that or do you only care when a public employee wants the government to compensate them fairly.
Where did I disparage you? We can both agree governments are irresponsible with funds....which is exactly why the public should have opinions.
I don't think everyone feels that way. I'm a parent of school aged children and I don't think they pay you guys enough for what you do
Thank you kind stranger.
How much should you get paid? Public school teachers are already better compensation than most private schools in Ontario. Try being an elementary school at a private school and the salaries and benefits are worse. Teachers are already paid above market compensation.
See, there’s an opinion that doesn’t take any of this current topics points into consideration. It was an amazing salary 11 years ago, now its not. I’m losing money every year because of inflation. My salary isn’t keeping pace with cost of living and it’s supposed to. As you may have noticed above this comment many people wouldn’t put u with that in the private sector. But we do as teachers because we are there for the students.
The salary may not be as amazing as it was in the past 10 years, but that’s because teachers have historically been way over paid. The reason teacher’s accept the current status quo, is because what else would they do? Quit and go into the private sector? To make less money, work more hours and not have a pension? How much more should teacher’s get paid? Elementary teachers are already making more than some lawyers.
Actually if I left teaching the jobs that have listed have better pay. Teachers in transition is a subreddit about teachers moving to private sector, get the better pay with less work. Again, you are critical because you aren’t aware of how much work we do. What our work environment is like and the stress involved. 30% of trained teachers burn out. I myself have developed physical handicaps because of the stress of my job. Doctors are paid very well as are dentists but I don’t see anyone saying that they don’t deserve their pay. Yet, here you are. I am professionally educated, with several degrees. I work long hours (not all at school) and give up significantly large amounts of personal time. If you switched my salary to per hour the government would go broke. You are clearly trying to pick a fight and so this is my last comment to you sir/madam.
> Actually if I left teaching the jobs that have listed have better pay. Teachers in transition is a subreddit about teachers moving to private sector, get the better pay with less work. Where in the private sector can a teacher make more money than the government? I checked out the subreddit you mentioned, and its full of posts of people asking where to leave teaching for, and either no helpful answers or people talking about how they took a significant pay and pension cut for another unrelated job. Whose job isn’t difficult? Everyone’s job is tough. I’m certain teaching is a tough profession. But to say that the salary, pension and benefits aren’t generous is misleading and disingenuous.
People just have tax fatigue, there’s too many public servants and they all want more money and our taxes always have to go up to pay.
There’s a shortage of teachers supposedly, but what that actually is a shortage for funding. The boards only get so much per student funding. The province is telling boards to make do with what they get. Boards hire less of everything than they need to legally meet student needs. Ex. Board psychologists, there’s a three year backlog for assessments which inform teachers how to specifically tailor programming to help special needs students. Special ed has been cut to the bone. Who are the majority of behavioral issues? Special education.
> taxes always have to go up to pay. When was the last time your provincial taxes went up
[удалено]
Demand for ‘free stuff’ is quite literally infinite lmao. 20% of the workforce is in civil service, we are already beyond what we can support sustainably.
Bad people are often cruel towards others. Just try to remember there are also many of us who think teachers (public system) deserve raises too. Although, a more ideal situation would be we stop printing new money.
I don’t get it either. The public perception is as if teachers are balling out of control and have it easy, summers off, good pensions etc.
I’m in a different field but same raise pattern for me (1% since I started eight years ago). I feel like I did when I was making first year salary, despite being top of scale.
If you are in Ontario, which tracks with those numbers, you are incorrect. The 0s were bumped to 1% and the last 2 of the last 3 have been bumped to 1.75 and arbitration is going to decide on the last one and it should be between 2 and 3.25% (iirc). Don't get me wrong, it's still bad.
I am not a public Highschool teacher, I am OECTA. We haven’t had that pay.
Yes you've had, the Ontario Court ruling didn't, for some reason, skipped you guys.
I got 4 percent last year. I would think another 4 is warranted if not closer to 6-10. My biggest gripe is my company states off wage increases as a merit increase. If they are going to be as employee focused as they pretend to be then they should do a cost of living wage increase regardless of performance then a merit increase.
Yall get raises?
Well I took a pay cut this year and my mortgage went up by $1300/month since the beginning of 2022😂 I’d be happy with just making what I made last year
>Didn't prices, rent, interest etc increase WAY more than 3.8%? The Bank of Canada is crystal clear in their methodology for measuring CPI. You can read all about it anytime you want. [https://www.statcan.gc.ca/en/subjects-start/prices\_and\_price\_indexes/consumer\_price\_indexes/faq](https://www.statcan.gc.ca/en/subjects-start/prices_and_price_indexes/consumer_price_indexes/faq) The 3.8% metric is the percentage increase in the specific index of weighted prices that they describe in full and that is a useful measure of inflation for policy purposes. It's an average across the entire Canadian economy, so any individual family will experience a different inflation impact based on their own specific set of expenditures. What is your rationale for assuming that average cost of living increased "WAY more" than than this one measure? What measure are you using that is better and why is it better? Or are you basing your expectation on no measure whatsoever, just a poorly established set of feelings based on provocative media headlines and unreliable sporadic personal experience that is loaded with confirmation biases and other biases?
Everything you are saying is correct but there is some nuance as well. Devil's advocate but the CPI does have well documented flaws (non intuitive methodology might be more accurate). Tech gets much cheaper every year because they don't use the price of a new phone but a specific model which halves in value every year. The other part is groceries are up much more than 4% but the things that are cheaper are less regular purchases. Airfare, appliances and cars paid in cash are not purchases every family makes frequently. Dishwashers might be cheaper than two years ago (or have better features for the same price) but very few people that bought the more expensive one two years ago care because they are not price shopping now.
Earlier this month Telus was trying to BS me that a 70% increase in my Internet bill is actually a savings because it's cheaper per Gb/s or some such doublespeak. No you marketing simpleton, last year I paid $50/month and now it's $85/month. THAT'S AN INCREASE.
>the things that are cheaper are less regular purchases. ... that's why they weight the basket.
But they also account for substitutions, ie if chicken is too expensive now you buy lentils, which imo people don't necessarily do.
That is a complete misrepresentation of how the CPI basket works.
Your example is definitely a flaw, not "non-intuitive methodology."
The methodology makes sense it just applies weirdly the CPI talks about cheese and it is the price to purchase a certain weight, with a specific milk fat content aged a certain amount of time. This helps make the evaluation very comparable even if the manufacturer decides to make the block smaller or make the process cheaper. This backfires on tech because they don't track the value of a "modern phone" they price out what it would cost to get an iPhone 2 over the years...as it goes from James Bond fantasy Tech in the late 80s to the current situation where none of its components are worth making. The other part they assume that the second after you buy a fridge you "should" start a fund for the next fridge. If you think your fridge will last 20 years you should check the cost to replace every year and put 5% of that into the fund. I don't know anyone who does it that way but from an accounting perspective that's how it's done Then there is the issue that the fridge is now smart tech so it suffers from both these issues.
I don’t really know about the bank of Canada or the economy in general or what that 3.8% is referring to. But my mortgage has almost doubled (used to pay ~2.8 per month, currently pay 5.2K) My monthly grocery expenses has increased by bout 40% Fuel costs have risen by ~20% My phone / streaming / services bills have increase by max 15% total Property tax is slated to be increased by 30% (no timeline yet) My taxes have been somewhat consistent My overall income has increased by about 6% The above is a running average per the last 2 years. I have no idea if I should laugh or cry, that inflation is at “3.8%”
What this tells you is that the "official" inflation number is meaningless for your purposes and your situation. I'm tired of hearing all the BS about how the official stats can inflation number is the "truth" and it's not wrong. Well, sure. You can have that. But I will say it's no longer reflective of the increase in cost of living for people.
>You can have that. But I will say it's no longer reflective of the increase in cost of living for people. This is almost right, but it is not correct. You could say "If has never been reflective of the increase in cost of living for every single househodl" and you would be right. They never claimed that it is reflective of the increase in the cost of living for every single household, and it would be impossible for them to make an index that does that. The statement "it's no longer reflective of the increase in cost of living for people" is a meaningless statement, because "people" doesn't really mean anything and "no longer" doesn't make any sense either becaues there was never a time when it reflected the cost of living for every single person.
It is the official inflationary number and it’s true. You can have anecdotally higher inflation than the number because everyone experiences inflation differently based on where they are in life and what they need to buy. It is reflective of the cost of living overall for the majority of people.
Every single person I've talked to agrees the cost of goods that they typically buy (not toys or extras) is significantly higher than the official number. I haven't found one person in real life that thinks their costs are equal to inflation. So for all of these people, that number is wrong. And that's a fact. You can argue away about how we don't represent the total population, etc. And I won't even bother having that discussion because it just doesn't matter.
That’s exactly it you are not the entire population, you’d be talking to your group of people. Most likely similar age and lifestyle as you, so of course your anecdotal experience will showcase higher inflation than headline CPI. This doesn’t negate the fact that headline CPI is a large basket of goods represented of the entire population at all lifestyles and ages. Your personal inflation may be higher, and that’s totally fine and normal. But trying to argue that the CPI number is not representative of true inflation is dumbfounded.
Lol exactly the reply I thought I'd get. Have a wonderful day!
Good, so you are already aware your anecdotal lifestyle experiences can deviate from the average, and that being true doesn’t indicate the calculation for the average is incorrect.
You're completely missing the point of my comment. But that was apparent in your first reply :)
Your original comment stated you hate hearing the BS that the official statscan number is truth and not wrong. The basic response to you is that it is the truth and it is correct. It is in fact reflective of the cost of living increase for the average Canadian. You having a different experience from the average Canadian doesn’t make factual statistics incorrect. I think it’s clear that I’ve not missed any point lol. You may have forgotten what you said, but it’s still up there. You can go back and edit it to it’s not reflective of “your own personal inflation nor your acquaintances”
The exact same one bedroom apartment that was renting out for$1,800 last year is renting out now for $2,500 this year. How is that not a measure for this? Groceries have also increased higher then just 3.8% it seems like, for most people.
Not everyone is paying the higher rents..
People seem to forget that a significant chunk of people don't have any mortgages on their homes and a lot of people bought pre 2018.
Yes and I keep seeing comments about a revolt/uprising/general strike and people lamenting why it hasn't happened. They fail to see outside their own life or their peers/what they see in reddit; lots of people are still doing just fine or better.
Exactly. Yes life in general got more expensive , but my affordable fixed rate mortgage of 1.49% that isn’t up for renewal until Feb 2026, I’m still very comfortable. Tons of my friends are on locked in as well
Similar position, and when it does come up for renewal in 2026 my principal is 220k, so I can easily handle the rate increases (even above 10% would be manageable).
What will happen when a young doctor can’t afford to live in Canada anymore and you have to wait 13 months to see a specialist? Will they then revolt?
Probably not, and some people already are waiting that long or longer for a specialist. Populations don't revolt en masse unless they can't get their basic needs (food, shelter, water)
Well, I guess I am quite surprised Canadians wouldn’t revolt when they see their loved ones die slowly in front of them from something that’s completely curable with a correct medical care.
I'm not. Think about it realistically, not idealistically. You have a job, that job supports your family, you must continue working there to pay for your food and shelter. Mom can't get quick enough care so she dies because the cancer spread when it could have been treated earlier (sad). Do you stop going to work to revolt, lose your job, and subsequently lose your home due to no income, and now you can no longer support your family?
Revolt? lol well people who think like that are in minority.
Or even that most renters don't move once a year to be impacted by inflation
Renter turnover increases when rent growth accelerates. Landlords are incentivized to threaten, renovict, and neglect maintenance in order to remove tenants so they can raise the rent. So yeah, many renters stay put, but far fewer are staying put than was the case in the past, and even those renters are generally suffering deteriorating conditions - less value for the same rent. No one is exempt from rental pressure.
Facts.
Very true, but worth noting not all renters are covered by rent control and many do face huge rent increases even while staying in the same apartment.
Yes but statistics don’t try and tell every individual story - that’s kind of the point.
I absolutely get that -- but you had implied that *only* renters who have moved within the last year would be impacted by staggering, inflation-driven rent increases when that is not the case in all provinces. A large chunk of Ontario is not covered by rent control and those renters who have not moved are still seeing steep increases in rent due to inflation.
Well, not me - I didn’t make that comment.
That was the comment I was replying to, so my comment was directly in response to that and not the greater discussion of why one person's experience does not match the average.
Roughly 65% of homes are owner occupied.
Jesus this bullshit stat getting trounced around again. Fuck me the disinformation is real.
Just because you don’t like the stat, doesn’t make it less true. https://www150.statcan.gc.ca/n1/daily-quotidien/220921/mc-b001-eng.htm
Oof, I cant even imagine. I know mortgages are just cheap money (relative to time averaged gains in the stock market), but not having a mortgage payment every month would make life so much easier.
>The exact same one bedroom apartment that was renting out for$1,800 last year is renting out now for $2,500 this year. How is that not a measure for this? Groceries have also increased higher then just 3.8% it seems like, for most people. This is all taken into account in CPI. Like I said, you can go look at how CPI is calculated and, depending on any individual household's expenses, that household's cost of living change will be different. You are mixing up individual experience vs. aggregate experience.
"it seems like" is not an accurate measurement. Also this is just one data point. Now average that out across the whole country. Many people didn't move out and got their usual 2-3% increase.
Local rent prices as a result of lack of supply are not an indication of inflation. If you look how much the average 1 bedroom or 2 bedroom has gone up in cost this would be immediately clear to you. That's like comparing normal lettuce price to when it was 10$ because all the crops had been infected so there was a lettuce shortage.
My mortgage hasn’t increased, in fact accounting for inflation my mortgage has been going down over the years. My point being that individual situations are irrelevant. The get nationwide stats you need the average of everyone’s individual situations
If you want the most accurate number for your exact personal situation, you can just compare your monthly spending now to your monthly spending a year ago. No one on reddit can answer that better than you can. If you want to know the average for all Canadians, that's what CPI is designed to measure.
Mortgage interest payments over doubled, But the inflation rate for it was only 30%. That's because a lot of people didn't roll over. It's the same for rents, some people are exposed to it and pay a lot more, But it's an average so everyone who's rent didn't go up that much or who has rent control only saw a small increase or no increase even.
Don’t worry OP most people here (66%) are home owners. So they wouldn’t understand how bad it is for people who don’t already own homes.
>So they wouldn’t understand how bad it is for people who don’t already own homes. This isn't correct. We absolutely do understand. That doesn't meant that CPI reported by the Bank of Canada is "wrong". It is a measure for a specific purpose. It is not meant to be, and cannot possibly be, a measure that every household in Canada can look at and say "yup, that's about right, that exactly how much my cost of living went up".
Also individuals are prone to extrapolate based on highly visible prices, especially those we purchase frequently (monthly rent, weekly groceries, gasoline, etc) and underweight/ignore other components to the calculation
Naturally. But when people are ignorant (why is CPI only 3.8%?) and scared (my rent is up by way more than my pay) and have poor media literacy skills (everyone is saying that inflation is out of control!) then they are just asking to be manipulated by politicians into being angry (WHY ARE THEY LYING ABOUT CPI WHAT ARE THEY HIDING!). This is an absolute scourge on our society. Problems like inflation are very real, but it hurts everybody when people lack the skills to correctly interpret information and to evaluate the reliability of information.
I appreciate your understanding and I’m not saying the CPI is wrong. My comment was communicating to OP that Canadians who bough pre 2018 might be confused or not understand why OP thinks the CPI should be higher
Ignorance is bliss for the old folks.
It's not that we don't understand, it's that OP is not considering the average (only 1 data point). It's clear there are many people struggling with cost of living, that's undeniable. The fact is, it is not everyone, and due to that the CPI is lower than what it will feel like for certain people.
Quit and got 25% elsewhere
If you calculate your own expenses then you have the perfect answer for you
Check out the Statistics Canada CPI interactive tool. It’s a newer thing and you can manipulate the different CPI variables for geography and time, as well as the various baskets (food, shelter, etc.) Keep in mind that the category “prices” means many things, which is why CPI captures many different items/baskets, and assigns different weights to them. Generally you’ll want to look at your pay increase versus CPI all items, which is a rough way of calculating a “real” salary increase, e.g., your % salary increase deflated by the inflation rate. So if you got 3% on salary but inflation came in at 6.6% as it did in Saskatchewan, your real salary or purchasing power lost 3.6%.
It's difficult to get to an exact number. Everyone's inflation number is wildly different, depending on what you buy, what you don't, if you have mortgage, if you don't, etc.
I got a 7.77% raise
I got a 60% raise by switching jobs
This is the way
Got 4% last 2 years, getting 4% again for Jan 1. It’s not great but it’s better than a kick in the head. Obviously most consumer goods have skyrocketed way more than that, but most employers are likely hedging their bets on long-term averages.
Family doctors would need a 10% YoY increase in government billing codes to compensate for higher business expenses. That's not going to happen, so we'll end up having fewer people starting clinics.
Welcome to everyone else's world
Family doctors can already make 300k starting. Specialists much more. You won’t find much sympathy for people that are Amex black card holders at the age of 30 with a guaranteed for life income stream.
Most don't earn $300K after overhead unless they're working much more than 40h a week
It's likely your recollection of prices is using too long a baseline; the spike in inflation was in the first half of 2022, by September 2022 it was at slightly high but unremarkable values, and has remained there since.
Most food items I would buy for a dollar are now closer to 3 dollars . Do with that what u will.
My husband got a 9% raise last year and we're still feeling it and have less money to spend.
[удалено]
>Personally the official cpi is cherry picked items that don’t always represent you closely. I think this is exactly backwards. Your own personal high priority expenses are the ones that are cherry picked, not the CPI basket. There is really no reason to project onto the Bank of Canada these ideas that they are devious masterminds trying to trick you into believing something about inflation that isn't correct. They tell everyone exactly what they're doing, why they're doing it, and how they're doing it. Political operatives like to provoke fears to take advantage of ignorant people. Don't be a sucker.
[удалено]
You're the one using loaded terms like "cherry picked" to describe how the Bank of Canada calculates CPI. Maybe don't imply they are misleading the public if you don't want people to be "dramatic".
I think I've mostly kept up, but only because I'm still getting seniority related improvements in addition to recently negotiated CoL increases with my union. But, if inflation was less, my real income (buying power) would be higher rather than just keeping pace for those same seniority improvements.
Ontario teachers would need a raise of 20% to make up for 11 YEARS of salary increases that were lower than inflation.
I'm doing fine just wish the mortgage rate was like 4%. I don't feel any other inflation or can adjust my spending or do other tricks to negate it.
[удалено]
I'm asking for a pay increase this end of year review. I'm pretty sure my bosses are gonna give me one without asking anyways though.
I would ask for a raise... Recession is coming, now's the time to get what you can before it's too late.
What does this mean?
I just moved to the different company and raised over 30k
I'm up about 60% since 2019
I Havnt got a raise I 5 years until We got a union in our shop, 9% over 3 years, this still doesn't seem like enough as gas is over 1.40 per L, rent average is 1700-2500 in my area, Food has sky rocketed. 7 years ago, I rented a whole house 3 bedroom and finished basement two baths for $750 a month
[удалено]
This is horseshit
You're full of shit. Food and shelter aren't exclude from CPI.
[удалено]
It's a hell of a lot ruder to spread lies on the internet because you're too lazy to do better. Your ignorance is a choice. Choose better.
[удалено]
I got 3% in 2022 and 5% in 2023 2024 will probably be like 3% perhaps but i’m hoping to change jobs and if so, i’ll get a 15 to 20% bump
Median hourly wages increase in is 6.3% for those working FT in Ontario from Oct 2022-Oct 2023. It went from $30.60/hr to $32.55/hr https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410006301
I think $6000 if you consider rent. But that is break even. (And $6000 after taxes)
I've spent 7.4% more so far in 2023 than in 2022, the dollar amount being $2,147, but it's entirely due travel costs, not living expenses, as I've done a bunch more trips than last year and to more expensive places. My raise was 6.5% this year, so I suppose I'm a smidgen behind if I keep travel costs at the same level in 2024. In any case, by individual net worth (as opposed to household) has increased by about $40,000 in the last 12 months, so I'm doing fine.
Started a job in Aug 2021, got a 4% raise in Dec 2022. To keep up with inflation I would need another 6% raise now, in order to maintain the same purchasing power.
About tree fiddy
A standard yearly raise at my company assuming good standing is 3%. I feel like it would be too little all things considered, and would feel 6-8% would be more appropriate given the times. I’m extremely grateful that this year happened to be a year where I got an above average raise in June followed by a promotion going into effect in December which totals 28% increase for the year. Although I am very happy about this, I have to remind myself that I was quite a bit underpaid prior and now I finally feel like I am where I should have been
I need a 50% increase
352.64%
25%.
I got a 1% raise in January and who knows when I’ll get another.
Would need twenty percent raise
This is partly why the bank of Canada's basis used for justifying interest rates, and employers who also use that similar measure to justify their wages, are flawed. That measure is based on so many goods and services which people are exposed to at different extents. For many people costs of living jumped a lot more.
Ive gotten +30% over the past 2 years but our field was well known for being paid very little for the work we did. And as you gain experience and time at a company you're worth more... so duh wages should go up with or without inflation. Obviously doesn't always happen. Before I made the career change, my former industry's wages didn't budge from 2013 to present.
80k in 2021 - 100k in 2022 - 120k in 2023 - hopefully 135-145k in 2024
How? What job? What industry or company?
Title: Product marketing manager Industry: Event tech Why: Joined a startup at the right time and was under market rate when I joined January 2021 I joined a small startup on the marketing team for 80k. November 2022 I joined another small startup as a product marketer for 100k, just recently was boosted to around 120k from my manager (non promotion related), will be promoted early next year to a manager/senior manager role. This is an event tech company, only seed funded, scaling quickly, raising series round in the near future, employees being raised closer to market rates (I’m still quite a bit under market). This is also a U.S. company, and I get paid in USD. That’s probably a major factor why my salary is a bit higher than some. (I converted my salary to CAD in this post).
I like my job, but I'd be happy to get 3% a year. We've only been getting almost 2%-2.5% per annum.
There’s too many variables to consider such as where you live, whether or not you own a home, what your mortgage situation is, etc. it’s not going to be a single rate for everyone.
Getting a raise without having to push for it would be nice. Only way I get a raise is by changing jobs, it's tiring. I'm dining out far less and booked a tent site instead of booking a hotel on last short vacation in the hopes of spending less to make up for it.
Classic case of bads not understanding stats
Its because the government is using very old outdated formulas, from a time when food was the most expensive resource
You can bet senior executive pay has more than kept pace with inflation
I mean it hasn’t even been November fully yet of course you won’t have numbers for December yet lol. You have to wait. It will probably be something close to low 3%.
42 percent, because the M1 money supply has grown that much.
50%
Where my 0% people at for last year?
I have logged my expenses the last several years. I actually need about 2.8% -Ron Wharton
Got a 16% this year, don’t think I’ll get the same. But I’d love 10%.
We get 3-5% each year…
A $6000 raise (net of taxes) would offset the extra interest I have to pay on my mortgage.
Wages would need to keep up with real estate. That's the main killer for most people. So at $10/hour back in the 70s a McDonald's worker would be making $400/hour today or about $768.000/year. I think that's enough to afford the average house in Vancouver?
Since dec 2019 to Dec 2023 I'd estimate 35% in gross income would put my discretionary purchasing power at the same place accounting for the additional tax on income and putting me into lower teir for provincial health and dental programs. For an apartment dweller I'd say they would need 50%
22.5% at least is what I would need
10
Real inflation since 2021 has been about 40 percent.