Cross Posted on: Workplace Prof Blog
Apparently, they should not expect one in 2009 (or maybe not in this lifetime).
U.S. workers can expect skimpy raises in their base salaries next year, but top performers may still fatten their paychecks with merit compensation.
A study released Tuesday by Hewitt Associates, a human resources consulting firm, found base pay will rise by 3.8 percent in 2009, marking the seventh consecutive year of flat growth.
One-time performance-based pay, however, is expected to grow by 10.6 percent. That’s down slightly from 10.8 percent this year and 11.8 percent in 2007.
Great. On our way to more pay inequality in this country and to a place where workers will have to wait longer before being able to afford retirement (Yahoo! News via AP):