Every employee in an organization, from entry-level workers to executive management, deserves fair compensation for their hard work and dedication. Unfortunately, employees don’t always feel comfortable asking for the salary they want. From fear over job security to concerns over company finances, employees can be apprehensive about when and how to ask for pay raises. To learn more, we surveyed 1,000 American employees about their experience with compensation negotiations. Read on to learn more.
- Over 80% of Americans feel entitled to a raise, but only 60% intend to ask for one.
- Americans are seeking a 10% pay raise, on average, by the end of the year.
- Nearly 25% of Americans leverage knowledge of coworker salaries to negotiate higher raises.
- Over 80% of Americans feel entitled to a raise this year.
- Only 60% of Americans intend to ask for a raise this year.
- On average, Americans are seeking a 10% pay raise in 2023.
- 58% of Americans are apprehensive about asking for a raise.
- Top 3 reasons Americans are hesitant to ask for a raise:
- Unsure how to approach (32%)
- Fear of rejection (28%)
- Concerns over job security (22%)
- Nearly 60% of Americans report receiving a higher raise without asking for one.
- 1 in 3 Americans discuss their salaries with peers and colleagues.
- 23% of Americans use knowledge of coworker salaries to negotiate higher raises.
- Nearly 3 in 4 Americans would request a pay bump upon discovering their coworkers earn more than they do.
- Nearly 70% of Americans would not trust AI to fairly decide upon a raise based on objective criteria and data.
Raising the Bar
While the vast majority of employees believe they’ve earned a pay bump, most are hesitant to ask for a raise. Some American workers are unsure how to approach the subject, while others are concerned about job security or other issues. However, as salary transparency increases, employees are leveraging coworker salaries to negotiate bigger pay bumps. As the economy continues to rise and fall, the conversation about compensation is far from over, and employees and employers alike would do well to encourage more open communication.
B2B Reviews surveyed 1,000 American employees to gauge their perception of raises in the workplace. The average age of respondents was 40. The breakdown of respondents was 52% male, 47% female, and 1% non-binary. The generational representation was 7% baby boomers, 29% Gen X, 57% millennials, and 7% Gen Z.
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