About that raise …
This will come as no surprise to “recession-starved” employees, but wages have barely budged this year, said Michael Sanserino in The Wall Street Journal. A recent survey by Watson Wyatt Worldwide and Hay Group estimates that median pay increased between 2 percent and 3 percent in 2009, the smallest uptick in decades. The outlook for next year is slightly better, with wages expected to increase by about 3 percent. Many employers, says Watson Wyatt’s Laura Sejen, are poised to start granting wage increases—or, at the very least, roll the clock back on pay cuts.
If you were forced to take a pay cut in order to keep your job, you may be wondering when you can ask your boss to reinstate your original salary, said Tara Weiss in Forbes.com. Hold off until you’ve considered “several factors,” including the overall health of your company and its industry. If layoffs are still happening, sit tight. “Asking for more money during what are still very tough economic times could be a bad move.” Your own performance is another factor. If you’re now doing the work of two employees, you may have a strong case. But, “if you let the pay cut negatively affect your productivity, don’t ask for the money back.”