Saturday, December 28, 2019

Most American workers didnt get a raise this year

Most American workers didnt get a raise this yearMost American workers didnt get a raise this yearThe economy is seeing healthy job growth, but the odds of scoring a raise or bonus continue to lag for most Americans.According to Bankrate.coms newlyreleased research, 52% of American workers didnt get a raise is the last 12 months.There was one bright spot, however, at least for high-income workers Employees making mora than $75,000 were the most likely to be taking home a bigger paycheck, with 43% scoring raises and a further 11% moving up to higher-paying jobs. A lucky 3% scored both a new job and a raise.Heres what to do if raises have been passing you byIf you havent been one of the lucky one, there are a few things you can do to put yourself in a better position the next time around.Boost your performance at workWhile theres no guarantee that this will get you that raise, it could help you stand out for the right reasons.Melody J. Wilding, a Master Coach, licensed social worker, a nd teacher at the City University of New York, writes in The Muse about how you should be unforgettable after you dont get a raise.After recommending steps like doing your homework on why you didnt receive it and coming up with different creative alternatives, she writes Moving forward, armed with knowledge about why your request was denied and having shown that you understand and empathize with your managers reasoning, channel your actions toward being an indispensable, unforgettable team member. Try your best to anticipate your boss needs before he or she asks you to address them, or go the extra mile to deliver top results that will make the entire team look good. If youre doing valuable work that wouldnt be possible without you, your management team will be much more likely to grant your future requests.Think about whats aheadKim Keating, CEO Founder of Keating Advisors, writes in HuffPost that you should look to the future after a raise doesnt pan out for you.Suggest revisitin g the conversation in another six months. This shows that you are thinking long term, and that your commitment to the company will continue. You will also want to do some reflection of your own. If you didnt get the raise because the company truly does not value your input, perhaps its time to look for a new job. Make sure you are being realistic in your evaluation, and separating your emotions from your decision, Keating writes.Add to your professional arsenalBankrate.com chief financial analyst Greg McBride told Ladders you should be keeping a lid on expenses because you dont know when that next raise is coming, but also pointed out what you cando from an employment perspective.He said that increasing your education level, acquiring additional certifications, upgrading your tech skills - those are all steps to distinguish yourself in the market place. The odds of getting a raise at a current workplace steadily increases with income and education level.

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