How has your household income been affected?

[shortstax]

I took a 20% paycut and pressure has increased to generate revenue, when I'm typically not in a client-facing role. TBH, I think I'd rather be furloughed right now, because were were told to expect our pay cut to last throughout the entire year and bonuses are eliminated. I'm happy to have a job, but it's not very motivating...

[k3am]

So far, no impact. I don't forsee anything in the short-term, but a large chunk of my comp is bonus based, and I'm planning on it being $0 for 2020. (I'm hopeful it's *not* $0, but I'd rather be pleasantly surprised than be counting on it and have it not show up.)

DH's company pays out bonuses on a six month basis - they've already told everyone that their personal portion of the bonus will pay out at 125% of target, but they've remained silent on what the company portion will pay. (ETA: his pay is not nearly as bonus heavy as mine, so either way, it's not much of an issue.)

[mccallister84]

I SAH and we don’t expect any impact on H’s job. He says that this kind of stuff usually hits them a year out but in the past they’ve done voluntarily early retirements and hiring freezes and survived without any lay offs.

[sandandsea]

I have a temporary 3 month 10% reduction in pay with increased expectations. It’s beyond annoying. Dh hasn’t been affected.

[purplepenguin7]

I have a 4% paycut through the end of the year. Also my verbally promised promotion was put on hold as well. I work for a small division of a larger global company and we were told this was incurred across the entire org.

No change to my work load or hours, which is annoying.  

[seeyalater52]

Overall our income will go up this year. My wife has to take 5 days of unpaid furlough due to city-wide budget cuts, but I’m getting a substantial raise that went into effect May 1. We are on a hiring freeze but I raised my own salary via a grant we were just awarded and that’s an exception to the freeze.

[madDawg228]

I was going to get an annual raise and a promotion in April, but pay raises were frozen in late-March, so that's not happening.

H and I are currently receiving our regular pay, but I am due with our first child in July and will be on leave for 16 weeks and will receive 70-90% of my regular pay during that time. H will take his time after my leave for 12 weeks and will receive 70-90% of his regular pay. After that, assuming we are both still employed (which we think we will be), we'll go back to 100% regular pay.

[janegold]

No decrease for either of us, and H is due a 4-ish% raise by contract in June or July.

[brooke77]

We are taking a big hit.

My firm announced no salary increases or bonuses this year. 401k matches have stopped. Layoffs and furloughs expected in the fall.
DH’s company announced no salary increases or bonuses. Also no 401k match.

Thankful to be employed but our bonuses are a significant part of our compensation so it definitely stings - especially with a potentially layoff looming.

[bcv513]

No changes yet but I’m expecting furloughs for me in the new fiscal year.

[ESF]

Special snowflake.

H's job ended in mid-February for reasons that had nothing to do with COVID. So COVID didn't cause his job loss, but it's making it harder for him to find something and is likely causing some decline in salaries in his field.

[AdaraMarie]

I don't expect any decrease "soon" so I checked no change expected, but I worry about my job stability for later in the summer/fall. Nothing announced, just a feeling. Depends on if we have new projects come in when I finish what I am doing in the near term.

[lolalolalola]

My current salary was cut <10% so I answered for that. But DH and I have annual bonuses which equate to 30-35% of our salary which will likely be $0. (they wouldn’t be paid until 2021) plus my promotion was cancelled...

[winnied]

Thankfully, no change. I assume my annual bonus (paid Jan 2021) will be less, but only maybe? I work for a large non-profit so our 2020 budget isn't impacted but 2021 and 2022 likely will be.

H is in a very stable field.

[Velar Fricative]

No change to base salaries. DH is losing out on extra money he made helping at his school’s after-school center and extra coverages during the school day, plus we are expecting he will lost out on his summer gig, which will suck. My salary is definitely safe for the next few months but I’m preparing myself for a paycut. I’m much less concerned about a layoff.

[mommin]

We are in the exact same boat as ESF  with unemployment/job searching. DH was laid off at the end of last year and interviews have pretty much completely stopped since March. He has received about 10 emails from jobs that he applied for telling him that he is still a candidate but they are putting the job on hold and will contact him when they reopen the position. Most of the postings don't have a reopening date but one of the emails said they will contact him for an interview when the open the position again in 2021.  

Eta- We are seeing the silver lining in all of this since all of DH's counterparts were required to take a 25% pay cut about three weeks ago and they are planning even more layoffs. This time the layoffs will not include the super sweet severance package that DH received. Plus, he isn't dealing with all of the craziness in his industry surrounding Covid so we're pretty good, all things considered. 

[chpmnk1015]

Well husband not working and hasnt been able to get unemplotment yet.. so thats a lot.

[suzubell]

We increased after a decrease. H lost his job in late March but was hired and started a new, higher paying job last week so our income will go up. I’m stable for at least a while.

[formerlyak]

Right now the only things we’ve lost is the pay I would have gotten in top of my regular pay to teach a class. Class was cancelled due to low enrollment. But that money is usually just put in my kids’ college funds so it doesn’t impact our current budget. My full time job will likely not get raises and I suppose there is a possibility of furlough once some budget stuff is figured out. Last time that happened it was 10% for a year until the new budget cycle kicked in. My freelance clients ta are both still going and I dint anticipate that changing. DH’s job is very stable.

[Cappy]

No change but with a pay freeze that's a future loss (expected 2% in July). Potential for future cuts to benefits (retirement), pay, and or jobs. It's too soon to tell but they warned us its all on the table and dependent on August. Husband's nonprofit got a PPP loan and had a good rainy day fund so they should be solid. Given what we do I'm shocked we both have jobs when all of our "customers" are grounded from international travel.

[atlas]

We are not in any way shape or form high earners before all this happened and have been at least been able to get by.

My H will be furloughed (works at our community college). I'm hoping that we can afford our bare-bones budget on my earnings alone, but we'll see. Thankfully, my parents are doing okay despite the huge fucking losses in the market early on (and not the best time buying a new house), so we can count on them for a few hundred if we need it.

[twilightmv]

Slightly up.  My raise went through- though that doesn't have anything to do with Covid.  Neither of our jobs are impacted, and my commuting costs (I have a horrible commute) and childcare costs are down.  I am making up for it a little with food purchases and stuff for the house, but overall I'm still coming out ahead financially.

[Pilsy]

H and I have both been furloughed 20%, and both employers have told not to expect an annual bonus. It's disappointing, but we are incredibly grateful to still have jobs.


I'm surprised so many people are unaffected and not expecting that to change! Right now, the poll shows >45% in that camp.

[kate1482]

We are a one income family and expect Dh’s job to be severely affected after September 30th. It is so frustrating.

[mirabelle]

I have voluntarily cut back to working part time so I can watch our kids so my H can put in a full day as he makes 2.5x what I do. Our income has gone down by 26%+ bc my health insurance costs increased by more than 50% in making this change. It is temporary, but it has been awful and I don’t know what the future of my career and income will be.

[Wallflower]

Mine has been stable and I'm single, so just one income. (The cats don't do a damned thing around here to contribute!)

I said that it stayed the same and that I expect it to continue. However, we've seen a huge drop in client services - right now, we expect that to be temporary as our clients are moving into a panicked conservative stance for spending. The reality is that I'm extremely worried about the long-term health of the company and my position is an easy one to cut when the going gets tough (documentation in a software company).

[secretagent]

I answered for our base pay, which hasn't changed and I hope won't. One of our employers has suspended retirement contributions, and my potential promotion this year is off the table as all promotions are indefinitely prohibited.

[Covergirl82]

My income is stable. Haven't heard of any impact to my retirement. I'm not expecting a bonus above target next year, though. (I'm expecting some bonus payment, though, as long as we continue to at least have the same sales as last year.)

DH's base pay income is stable right now. His employer recently said that they won't be doing retirement contributions or matches from July through the end of 2020. We're not expecting him to get a bonus next year at this point.

[Pom]

I retired a few years ago. H is still employed with a benefit reduction, but we expect that could change at any time. If this job ends for him, we are FIRE-ing at 49/50. We have passive income/farm land rental that we can live VERY modestly on and will sell our primary home. If his industry comes back or he can find a job outside his industry or I can (mine is also doubtful since my background is hospitality), we are mostly concerned about new jobs for health insurance and a bit of a financial buffer. So, we feel very fortunate but I feel very sad for everyone that is scared right now.

[wesleycrusher]

We are still working our stable jobs for the same pay. DH gets an extra $10 per day for lunch when he is not in the office (in office they order lunch).