The Co-operative Group
Do you have any comments on pay and bonuses at your firm?
Being a retail business, we get great discounts in our different outlets.Graduate, ManchesterHelpful?
Basic salary is standard for graduate salary, however the additional benefits such as discounts across the business, a good pension and the £1000 development budget to spend on personal development make the total compensation very attractive.HR, Graduate, ManchesterHelpful?
I feel the pay is good for a northern city; we start on £23k and can increase by £2k per year if we meet our objectives. Once we become CIMA qualified our pay jumps up to £34k which is guaranteed for 2 years.Graduate Finance Projects Officer, ManchesterHelpful?
I think the pay rise should either be staggered as an incentive after 6 months in the company. Or the £2,000 should be paid after the second project, since the pay rise is based on project work and when the yearly bonus is considered, it is halfway through the third project and therefore the third project has no bearing on the pay review.Graduate Projects OfficerHelpful?
Would be good if a bigger proportion was incentivised.Projects Officer, ManchesterHelpful?
For this graduate programme, based in Manchester, I am broadly satisfied with the compensation package; if it were based elsewhere I might feel it was a little low, but then my living cost would probably be higher. There's no formal bonus system, but a clear process for salary increase after 12 months, with the opportunity to be raised by up to £2,000.Graduate Projects Officer, ManchesterHelpful?
Unfortunately the business does not offer a joining bonus to graduates, whether you relocate or not. This makes it extremely difficult for people that have to move then wait 6 weeks for the first payment, with rent deposit, etc. I had previously been part of another company’s graduate programme where the basic was higher at £25,000 and you also received a £2,000 joining bonus (this was in 2008), and yet my business will still be offering less to graduates that join here September 2011 of a basic of £23,000 and no signing bonus. I raised this point at a graduate meeting run by the programme manager as she looked for feedback on ways to make improvements, but sadly the feedback I received was that research showed the package offered is on par with the market. Whilst this may be the case, I for one believe the business should be offering a joining bonus, or interest free loan at the least, at a minimum for people that have to relocate. The bonus is also calculated based upon various factors, half of which only accounts for performance, and is built up from reviews by three different managers. With everyone having different managers on different projects in different business areas, there is invariably a wide degree of discrepancy on what one manager classes as outstanding performance and what another classes it as.Projects Officer, ManchesterHelpful?
Compared to other schemes I applied for, the salary is not that competitive; however, there are other perks, e.g. Development budget, support, company discount. One of the major negatives for me was that there was no relocation budget; I found it difficult financially and stressful.Projects Officer, ManchesterHelpful?
£25,000Graduate Projects Officer, Manchester"£23,575"Helpful?
We have a salary review after 12 months of service, as well as the company-wide increase of ~2.5% every year. The company pension is excellent – my contribution is 6% and the business contributes 16%.Graduate Projects Officer, ManchesterHelpful?
I think it would be better if those on the finance graduate scheme were able to receive a company bonus. This doesn't currently happen because of our official role band saying that once the scheme ends and you are fully qualified, your pay in comparison to your non-finance colleagues is much higher.Assistant Commercial Accountant, ManchesterHelpful?