A new survey finds just over half of the respondents have not gotten a bump in salary over the past 12 months, despite a tight labor market that’s making it harder for employers to find workers. On the other hand, employees with more education and higher incomes are more likely to have received a raise, the Bankrate.com survey shows. According to the phone survey of 1,009 employees conducted Nov. 1-5, 52 percent of those polled didn’t see their paychecks increase the past year. Thirty percent got a raise at their current job; 10% landed a better paying job; and 8% scored both within the 12-month period. Thus, a total 48% of those surveyed saw their wages rise either at their current workplace or by switching jobs.
Even though the sample is small:
- I’m amazed at how long people are staying with a job even though the cost of living is going up and their wages aren’t.
- In many cases, it seems you need to move to get a raise.
- At the lower end, raises are scarce even though it is a sellers’ market.