What raise should i get

Don't be afraid to self-advocate. Share examples of your successes and any positive feedback you've received.

Meanwhile, if you were also looking for work outside your company and received a competing offer, don't mention it, Heitmann warns.

A "no" doesn't have to be the end of your negotiation. Instead, treat it like a performance review, Heitmann said. Remember, compensation is more than just money. If your company can't come up with more cash, consider asking for more paid time off or a flexible work schedule. Skip Navigation. In this article. You may be in line for a larger pay increase next year. VIDEO Here's the 4 things you need to do before asking for a raise or promotion.

Invest in You: Ready. You may even want to get some intel from your boss. Consider the following when figuring out whether your pay raise is fair:. The economy. Nobody really knows what sort of voodoo witchcraft economists get up to, but macro-level events, like a recession or a global pandemic, obviously harm the economy writ large.

How much money employers have in the piggy bank and what level of growth they anticipate are factors employers consider when budgeting for pay raises. In other words, if you know that your company is struggling, you can damp down your pay raise expectations accordingly. The industry. If the industry you work in is up-and-coming with loads of growth potential, you can generally expect bigger pay raises. These new industries need to attract and retain talented employees quickly to fuel their growth.

The position. Certain occupations have a shortage of qualified workers. The region. Just as some industries are experiencing growth while some are stagnating or shrinking, geographical regions states, metro areas, etc.

Our AI resume builder helps you write a compelling and relevant resume for the jobs you want. In , the budgeted mean pay raise across all employee types was 3. So far in , the budgeted mean pay raise is 2. Those numbers are the same for the projected budgets for However, the mean budgeted pay raise falling from 3. When looking at a median value, outliers are scrubbed, because a median is just the middle value of a set of data. The mean is lower than the median, indicating that there are more outliers on the lower side In other words, more organizations are offering below-average pay increases than above-average pay raises this year, and they project that trend to continue next year.

To give you a better idea, 10 times more organizations are indicating a zero salary increase budget for than in , which clearly skews the mean pay raise to the lower end.

Take that with a grain of salt, as the effects of the pandemic may lag in some areas. Merit-based pay raises are expected to be at 2. Tough luck for high-performers, who can expect the steepest drop in merit-based pay raises this year. Across employee categories executives, management , exempt, nonexempt salaried, nonexempt hourly , the budgeted salary increases are between 0.

When you exclude such companies, the drop is only between 0. As previously discussed, what industry you work in has a big impact on wage growth. The following data are from PayScale. Those in the arts, entertainment, and recreation industry saw the biggest raises in , at 3. Similarly, different job categories have experienced different rates of wage growth. Jobs in transportation have seen the biggest spike by a huge margin, at 4.

Lastly, what metro area you live in can have a big impact on your wage growth. For instance, the Seattle Metro Area has seen year-over-year wage growth of 3. Additionally, you can take a look at more focused regional employer surveys or find out if your employer publishes pay ranges for company jobs. Build a professional resume in minutes. Browse through our resume examples to identify the best way to word your resume.

When we think of pay raises, we usually think of it as a reward for superior work or lasting loyalty. If I expect 10 percent, am I kidding myself? A: Companies determine their merit budgets for the coming year typically by late summer of the previous year. A raise as high as 10 percent is generally reserved for employees whose salary is not competitive with the market. A company may also give an employee a merit increase as part of a promotional increase.

Or, you might expect a 10 percent increase if you have done an exceptional job during the past year and the company would like to reward you for your work. Toggle navigation Demo.

Experience CompAnalyst: Demo. All Sections For You. Know Your Worth. Job Search. All Sections For Employers. Most innovative compensation technology backed by the most experienced team in the industry Get a Live Demo Price a Job.