Workers want a raise — a $6K raise, to be exact
- Only 19% of U.S. workers are satisfied with their current salaries, an Indeed survey reveals. And when asked to share how much more they would need to feel comfortable, more than half (60%) said it would take extra $6,000 per year.
- Three in five survey respondents said they want a raise simply because they feel their performance merits one; two in five cited an increased cost of living. However, of the 1,024 workers polled, more than two-thirds said they'd prefer additional benefits over a pay raise, citing healthcare (36%) first, followed by flexible work hours (35%) and yearly holiday leave (34%).
- Gender-based differences surfaced in the survey. More than 21% of men were dissatisfied with their earnings, compared with 16% of women. Although both women (53.1%) and men (52.9%) plan to ask for a raise, women said they'd be asking for smaller increases.
Wages have remained relatively flat for nonunionized workers during several consecutive quarters, and aren't expected to increase much in 2018. Both Willis Towers Watson and Aon predict average base-wage increases of about 3%.
The Indeed survey show that employers should expect raise requests from workers this year, many of whom probably feel they've earned an increase. Most women in the survey plan to ask for a raise, which is a marked change from the results of a Paysa.com study, which found that only 41% of women request a pay increase and that they're more likely to be denied a raise than men. Indeed's survey results may indicate a shift, although women still plan to request less than men plan to request.
As salary history bans for job applicants begin to take hold around the country, some prominent employers are scrapping the question altogether. And some have taken steps to proactively evaluate current employees for promotion readiness — a move aimed at improving diversity, especially among groups that may not consistently seek promotions and raises.