merit increase

Definition

A salary raise based on individual performance rather than cost-of-living adjustments or tenure. It's the carrot companies dangle to make you work harder, usually sized more like a baby carrot than a normal one.

Example Usage

My merit increase was 2.5%, which doesn't even cover inflation, but I should feel grateful for the 'recognition' of my exceptional performance.

Origin

Performance-based pay concepts from the mid-20th century

Fun Fact

Average merit increases hover around 3-4% annually, meaning it takes about 18 years to double your salary through merit alone, assuming you're consistently exceptional.

Source: Compensation management and pay practices

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