Don't Expect A 4% Pay Raise - May Get a 3.5% Raise

[Jon8503]

Pay expected to rise 3.5% this year, Conference Board says

NEW YORK (AP) — Pay for most salaried workers will increase 3.5% this year as employers keep budgets in check, the Conference Board reported Thursday.
The expected 3.5% rise would make this the fourth consecutive year that salaries have grown less than 4%, and the trend is expected to last through 2007.

"Moderate inflation has allowed employers to continue to control payroll costs," a compensation specialist at the Conference Board, Charles Peck, said in a statement. "This continued control is reflected in the pattern of salary increase budgets this year compared with last year's projections."

The board expects inflation to rise 3.1% this year and 3.3% in 2007.

Pay raises for employees working in the diversified financial services and insurance industries were higher than projected while pay for those working in diversified services was slightly lower.

The non-profit research group projected for next year an overall increase in salaries to be the same as this year's, 3.5%. Executives, however, are expected to see a slightly bigger rise of 3.8%. Six of seven industry groups said executive pay would rise more steeply than for others.

Median salary structure adjustments, or the raises in pay companies apply to different job categories
rose less than 3% in 2005.

http://www.usatoday.com/money/economy/employment/2006-06-22-salaries_x.htm

[Warpy]

1. Meanwhile, the REAL inflation rate is in the low double digits

caused by an increase in all the things we ordinary mortals need to stay alive: food, fuel, medical care, rent. Those things are being hidden because the market basket has gone from steak to hamburger to beans and from gas for our cars to plasma TVs most of us will never own.

Any Democrat who doesn't campaign on wages is a fool.

[RUMMYisFROSTED]

10. 4.2% last quarter.

Your "raise" is better known as a pay cut.

[Nickster]

2. I'd be friggin ecstatic to get a 3.5% raise. Mine are more in the 2-2.5%

range. My wife hasn't gotten anything in the past three years.

[Lerkfish]

4. ditto here. 3% would be an outrageous luxury.

[East Liberty Denizen]

3. not everyone is getting 3.5%

Looks like the repukes aren't willing to give minimum wage workers squat.

[SammyWinstonJack]

6. Yet they vote themselves pay increases yearly? And they vote

for tax cuts for the wealthy yearly. Why can't working class republicans see this? It's the republicans they admire that keep them down.

[NotGivingUp]

5. I am so sick of the frigging lies...moderate inflation, my ass!!!

[Jon8503]

7. My take on this frigging outrageous raise thing is this. This is why when

you watch CNBC or Kudlow and they say we just don't understand why "main street america" doesn't get it. This is the best economy we have seen in years.

1) They are correct in the best economy the wealthy have seen in years.
2) How could main street america see it the same when all the raises and money goes to the CEO's.
3) Who got all the tax breaks?
4) Who got all the tax increase. Main Street America and the poor, that is who got them in the form of higher state taxes, higher mass transit costs. They even raised the blind's deductible. Higher Medicaid and medicare costs. Higher gas costs, medical costs, insurance, utilities, basically all the necessary costs to live and survive have gone up for everyone and where it makes no difference to the wealthy because it is not that much of a percentage of their everyday budget as it is for the average joe.

And they wonder why "main street america" doesn't get it.

[newportdadde]

8. 3.5% isn't bad.

The past three years I got 2.5%, 1.9% and finally 4.8%. All I had to do for the 4.8% is basically walk on water.

[Jon8503]

9. Know what you are saying and I as you will take it. However, I see it

in the same way they are working us on gas prices. I remember a friend of mine when gas got down to 3.00 thinking he got a good deal when he paid that after it had been so much higher for a while.

The same on raises. If they can keep the raises way down, we will be more accepting of anything higher.

I just want a fair raise in comparison with everyone. It pisses me off when I see a CEO whose company has been losing money and laying off workers get a huge going away gift or pay package for that kind of work.

[RUMMYisFROSTED]

11. See post #10

[mtnester]

15. I have to part the Red Sea hourly for my 4% last year

I suspect it will be on the quarter hour next year

:)

[Jason9612]

12. Hey man, at least the pay rates are going up.

Now THAT'S a trend I like to see.

[spinbaby]

13. For whom?

My company hasn't given out raises in six years.

[LibertyLover]

14. Gee -

we just got notified where I work that we were getting a 3.5% raise this year. Amazing coincidence, nicht wehr?

[Bill McBlueState]

16. I like how

the wealthy think that we should all be ecstatic over raises that keep up with inflation. That ignores that wages are way too low to begin with.

[lonestarnot]

17. What's a fucking pay raise?