Dec

19

Angling for a big raise this year? Don’t get your hopes too high

Posted by Dan

December 19, 2008 |

Tough times call for tough measures. At least it does for employees. The Wall Street Journal is reporting that workers’ annual pay raises will hit a new low this December, one not seen for three decades.

According to a new survey from Hewitt Associates,  employees should see an average annual merit increase of 3 percent next year. This is the smallest pay raises have been since 1976.

If you’re getting one of these tiny pay raises, don’t feel too bad. At least you still have a job. There a lot of folks out there who’d kill for that 3 percent pay raise. Heck, they’d kill for no raise at all, so long as they still had a job.

And I hate to sound like a broken record, but, again, don’t be surprised at anything your employer does during the recession. Businesses are about making money. As much as your boss may talk about the office as being a team or a family, it’s not. Your employer probably cares very little about you. In fact, I’d wager that many employers right about now are viewing their workers as little more than drags on their profits.


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