We had word lately at my company that the management has implemented a whole laundry list of cost cutting measures. I don't really care for most of them such as cutting back on companies events and business travels, suspending contribution to retirement plans (I don't qualify for KiwiSaver, the NZ equivalent of CPF, here anyway). What is a real bummer is that they'll be eliminating salary increases in 2009 and they'll also be suspending incentive bonuses related to passing the CFA programs.
I have never not have a salary increase in all my years of working so this came as a really rude shock but then again, many would argue that we have not seen an economic depression this bad in the last 70 years. Point taken. Alright. I should be happy that I still have a job. But to be very honest, if I get laid off, it'll just be another reason for me to go into social work, to work for a more worthwhile cause. Plus with inflation, what I'll be earning this year will be worth less than last year. Ouch.
Sure, I can understand why the company has suspended incentive bonuses awarded when employees pass each level of the CFA program but hey, I need as many incentives as I can get in order to motivate myself to sacrifice work nights and weekends to study for CFA. The second application deadline is the 2nd week of February. I'm still undecided whether I should sign up. I know I should. I know I know. I'll get back to you on that.
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