8% payrise equals 28.5 days, ie 4 weeks.
4 weeks + 8% is still only 8 weeks of 'bonus' for this year.
Don't think inflation was more then 8% over a year, what doesn't mean big correction was due anyhow for the guys being here longer.
Personally, being here since last spring, this payrise id 'ok' for me, just 'ok'.
BTW, how does the 3% rule wotk, are you supposed to get that in your 'joining' month, or does the whole company gets this at the same time??