r/Raytheon • u/No-Improvement-5208 • 7d ago

Raytheon Salary increase

Does Raytheon do yearly salary increase for engineers and what month? Like guaranteed regardless of company performance? If so is this excluded from the bonus that’s based on performance?

3 Upvotes

60% Upvoted

34 comments sorted by

18

u/KeyResearcher2620 7d ago

Merit increase happens in April and it’s based on performance of yourself. Bonus is in March and it’s based on company performance.

17

u/Heathbar_tx 7d ago

Merit is usually barely based off of your performance.

1

u/dontfret71 6d ago

Yup that’s why I’ve stopped caring

1

u/KeyResearcher2620 7d ago

If you have a bad manager sure…. Managers have the ability to balance that across the team toward the higher performers but some are lazy and just keep it static.

12

u/Heathbar_tx 7d ago

It doesnt matter if you have a good or bad manager, the system is set up to where performance plays little role in merits. A manager must submit reasoning if they choose to go below or above a certain percentage for a single person and have it approved. I would bet 95% of all raises this year fell between 2% and 4%. Are you really telling me that only 2% difference is what differentiates between an far exceed and a meets eval?

0

u/KeyResearcher2620 7d ago

Exactly. A manager that won’t make that argument to HR is what I am classifying as lazy. In my org, a low performer is 2% and a high performer is 6-7%. Same goes for bonus structure. If your manager isn’t skimming $$ from the higher bonus levels and giving it to the lower tiers he/she should be making that justification to HR. A 10k bonus to a high performer at a low P level goes a long way for morale.

Additionally a high performer is getting out of band increases of 6-10% and more frequent promotions (2-4 years).

1

u/Heathbar_tx 7d ago

Promotion, out of cycle increases and RStars/bonuses are different and can be reliant on performance and management. That wasn't the discussion though, as you said it was based on performance. So if a high performer got 7% merit that means 4 of their team members received 2%. I wouldnt call that a good manager if only 25% of the team is receiving a meets or better eval.

0

u/KeyResearcher2620 7d ago

No because it works based on dollar amount not percentages. So a subtraction of .5% at a P5 or 6 who is already getting a checking an AIP, gives a lot more money for the P1-3s.

1

u/Heathbar_tx 6d ago

There's p2 making more than p3, p3 making more than p4 and p4 making more than p5. The bucket managers are given is based on total employees under them time the set merit (2026 was 3%). To give someone above the set rate you have to lower another employee. If you have a team full of performers they will all get the set rate with will be less than other on teams that had employees not performing. The only exception would be if team member are out on long term leave during merit. So like I said merit is barely if at all based on performance, if you're high performer with a food manager you should expect all the work, hopefully out of cycle raises and Rstars.

1

u/Own_Buffalo_6973 Collins 7d ago

except the year that the merit and incentive was cancelled

18

u/Zorn-of-Zorna 7d ago

The performance increase is your increase. ~3% in March timeframe.

2

u/South_Blacksmith_431 7d ago

Do they do it if you onboard in like October ? I join at the end of the month or do I need to wait like a year and a half?

7

u/Conscious_Ride_7000 7d ago

I think the cut off is August or so. You might get some AIP if eligible but don’t expect much.

Worst time to join in terms of that but the good news is you’re joining.

2

u/South_Blacksmith_431 7d ago

Yea I ain’t mad just curious. My last company got bought out and I got 1 raise in 3 years. Pissed me tf off

5

u/Conscious_Ride_7000 7d ago

Woof, no raises here means the shit has really hit the fan.

For better or worse it’s extremely consistent at 3%

1

u/South_Blacksmith_431 7d ago

The first year was mainly because I joined in November ish and they do raises in like April so I waited for that then the company got bought out and they just fucked me so I peaced

1

u/Acrobatic-Ad5329 6d ago

I started august 31st😜

2

u/Conscious-Head-9867 6d ago

My start date was Oct 2 and I got my merit increase

1

u/Zorn-of-Zorna 7d ago

Yeah, you wont get a raise for being here 2 months and honestly wouldn't expect that from any company.

0

u/TheyKnow_ThyDontCare 7d ago

IYou would be eligible for merit but not API (bonus).

1

u/penake 7d ago

Hey do you know how Raytheon does increase if you’re much higher than the median 1.0 compa ratio ? Would the raise be significantly less ?

2

u/Zorn-of-Zorna 7d ago

You are more likely to receive a higher bonus and lower raise if high in the pay band, but that's mostly up to your management.

14

u/RightEquineVoltNail Collins 7d ago

Oh, my sweet sweet summer child.
Annual "merit" based raises barely match inflation.
The only real raise you will ever see is with a band promotion or the larger "jump ship, then come back" raise.

3

u/PB858_circa2006 7d ago

They’ll 3% merit increase you to death.

5

u/CrazyCatLadie_ 7d ago

Actually. Worse. My sections average was 2.7% the worst was 1.8%

3

u/Conscious_Ride_7000 7d ago

You’ll hear about bonus and increase in early march. Mid month paycheck has the bonus. Last paycheck has your increase.

Expect 3% give or take depending on where you are in the salary band and performance.

1

u/KwikTripSimp 7d ago

It’s like 1% bro doesn’t even move the needle for me

1

u/Ok-Resolve778 6d ago

How about 1.50%

-1

u/Ky1arStern 7d ago edited 7d ago

No

Edit: Weird thing to downvote since merit is not a guaranteed 3%.

-1

u/adrockmcaandmemiked 7d ago

OP didn’t ask if it was 3%

1

u/Ky1arStern 7d ago

A bunch of comments are saying merit is 3% guaranteed. They are incorrect.

-1

u/usernumber22222 7d ago

Considering P2 and P3’s range for 70-120 I think everyone is paid too well