What’s In Your Wallet?

Are you getting paid what you’re worth? I’ll guess, probably not. I don’t know of anyone who thinks they make enough money.

Well, I have some good news for you, courtesy of an online survey conducted by USA Today and CareerBuilder.com.

More than half of the hiring managers they surveyed said they raised their employees’ pay in the second quarter, and nearly half said they expect to increase pay from July to September. According to the Department of Labor, over the last 12 months, wages have grown by 3.9 percent.

So the trend is: wages are on the rise!

Increasing wages are directly tied to unemployment being at a six-year low. The labor market is beyond tight right now. Employers are having difficulty filling open positions, so they’re focusing more efforts on employee retention. One retention method is increasing wages.

A 5% raise based on $30,000 a year is an extra $1,500. That’ll certainly help when you’re filling up your vehicle.

You’re probably thinking, “So, where’s my raise?” If the survey is true and the experts are accurate, it should be coming down the pike. Have you noticed your employer clamoring to stay fully-staffed? If so, has the recruiting affected your compensation?

I’d like to hear your experiences. How did you prove your worth? What were the results?

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