Expect Higher Raises

Employees Can Expect Higher Raises, Says CareerJournal.com

PRINCETON, N.J — Workers in the U.S. can expect a 3.7 percent pay raise in 2005 — the second straight year of increased raises for employees after a three-year decline — according to a report on CareerJournal.com, The Wall Street Journal’s executive career site.The 2005 expected increase is slightly higher than the 3.6 percent average raise in 2004, according to data compiled by Salary.com. Average salary increases bottomed out at a five-year low of 3.4 percent in 2003, after hitting a five-year high of 4.4 percent in 2001. A 3.7 percent pay raise would mean that an average worker earning $34,000 a year can expect to see an additional $24.19 per week. Those with a salary of $100,000 can expect an increase of $71.15 per week.”We are in the early stages of an upswing,” says Tony Lee, publisher, CareerJournal.com. “The projected salary increases for this year are a ray of sunshine following several years of salary freezes and layoffs.”CareerJournal.com offers these tips on how you can earn more as the job market improves:

• Keep track of your successes to present to your boss.
• Document your fair-market value by researching free salary data on sites such as CareerJournal.com.
• Learn the art of salary negotiation-the better you are at negotiating, the better your chances of being successful.
• Ask what needs to happen for you to earn a raise in the future, and try to get a commitment in writing.
• “Having another job offer also is a great tool in negotiating a raise with your current employer, but be prepared to leave if your employer doesn’t meet your terms,” Mr. Lee adds.

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