“The Network!” Newsletter Issue # 129

Average Salary Increases To Remain in the 4% Range

Good Morning.

A press release from the American Compensation Association (ACA), says average salary increases to remain in 4% range for 2000/2001. Thank God we’re not average, huh?

Patricia Llantino, CCP, CBP, Director of the Compensation line of business for the ACA, says, “Base salary increases have been in the 4 to 4.5 percent range for a few years now, but many compensation packages have been significantly bolstered by variable pay items like stock options.” Yeah Pat, you better not expect to keep me with just 4-4.5%, gimmie my stock options baby $$$!

“The increased use of equity compensation further down the organization is providing more employees with wealth and buying power they may not be used to,” Llantino said. “If the market turns, and these employees have to return to making it on salary alone, they may be surprised at the reduced buying power they may have.”

Well..ok I guess, as long as stocks keep going up. Besides Gray Davis and the State of California are thinking of giving all single taxpayers a one-time check for $150 and joint filers a $300 check. But according to the Chronicle, Senate Democrats are still weighing two ways of doling out the sales tax rebate. One would give each sales-tax payer $50, and dependents would get $25 — to a maximum of $150 per household, according to Senator Steve Peace, D-El Cajon, Chair of the Senate Budget Committee.

The other approach would offer a minimum rebate of $30 — increasing to $80, depending on income — with a $25 rebate per dependent. Anyone who pays income taxes would automatically get a rebate check, Peace said. But about 5.8 million Californians who do not pay taxes would have to apply for the money, Peace said. The rebates would remain in effect unless suspended by a two-thirds vote of the Legislature. “It’s good to know both the Assembly and the Senate agree with the governor that some portion of the surplus should be returned to taxpayers,” said Michael Bustamante, Davis’ press secretary.

Yeah, Michael and it is good to know I’m paying you guys to sort this one out. Pretty big decision, huh. $25 dollars, hummm, $50 dollars, Hummmmmm, $150 dollars Hummmmmmmmmmm $300. Yeah, well flip a coin bozo, and send me a check. I need gas money. I may be biased because my mom is a teacher but why don’t they just give it to the teachers? To the credit of the bureaucrats, Mom did get a nice raise recently along with all the other teachers in the state but they are still so underpaid.

A sad but true story:
I was talking to a Sr. Financial Analyst, who said this, “To be honest with you Joe, I only want to do one more job as a Financial Analyst. I want to pick a good pre-IPO company, get a lot of stock options and make enough money so I can afford to do what I really want to do. “What’s that?” I asked? “TEACH.”

Warm Regards,
Joe Pelayo

Joe Pelayo, C.P.C.
Joseph Michaels International
Global Recruiting Solutions
Email: jpelayo@josephmichaels.com
Website: http://josephmichaels.wpengine.com
One of the top 75 Recruiters in the United States ~ Recruiter Life Magazine