Pay Rise Implications

[Bumpkin]

Hi,

I wonder if any of the knowledgeable group here could help me with the following query:-

If I negotiate an increase in my basic salary, and I find that my overall costs haven't increased to a great enough extent to account for the increase, will I have to pay 100% of any salary increase into my IVA?

I'm not sure if I'm entitled to keep any of - in which case there's no benefit to me in pursuing a new role (internally) that would see my base salary increased.

Thanks in anticipation of your helpful responses! [:D]

[rayb]

Hi,

You would certainly need to hand some of it over but it all depends what it says in your chairmans report. Best bet is to speak to your IVA provider after all you are paying them for a service.

[Michael Peoples]

It does depend on your actual proposal but you should not have to hand over all of the raise. It would be picked up at the annual review and 50% would be payable after allowing for increased costs of living.

You should always keep your IP aware of changes in circumstances and a quiet chat would do no harm. 50% of the rise for you seems fair and gives you an incentive to take on more work or a more challenging role.

[plasticdaft]

Remember that with any increase in pay,can come an increase in living costs!!!

Paul

[Bumpkin]

Thanks for all your feedback. I've spoken to my IVA company and it seems that I can keep any increase up until my review unless it's a substantial increase (what is substantial - £1, £1k, £10k?!) and after my review I should be able to retain 50% of any increase. 'Should'. Such ambiguity worries me slightly....!

[MelanieGiles]

Get them to confirm this in writing so that there cannot be any misinterpretation at a later date.

[orchid5]

I did exactly this in May Melanie as i was caught out if you recall last year when i was told one month, no increase and then recieved a letter a month later stating i had an increase of over £100!
I have been fortunate to have had two pay increases this year an incremental one and an annual one (although next year not so sure what will happen). I duly informed DFD as i did last year and this time got a reply unlike last year! completed a new I+E and sent it in, new payment with a £35 increase started this month, my concern was that i am nearing my annual review so low and behold after asking for a letter to confirm the above increase i got another asking to complete I+E for annual review. I emailed DFD informing them of the letter they had sent to me 3 weeks previously etc and whoop whoop no need to complete and duplicate what had already been done so it does pay to get it in writing. Good luck Bumpkin and hopefully you will be able to keep at least 50% of whatever your increase is and it pays to ask for anything in writing too.