Given the current state of the economy, many people are wondering if their employer will be able to give them a raise next year.
To answer their question, yes. The only problem is, given a current five percent rate of inflation, it might not be enough.
According to a study conducted by Watson Wyatt Worldwide, 33% of the companies they surveyed still plan on allocating merit increases in 2009.
The report shows that rank-and-file workers can look forward to base pay increases of 3.5% next year (the same amount given this year).
The company also concluded that high performers will be rewarded for their hard work at a rate of 4.4%.
So while many companies are being forced to thin their workforce, restructure, and shrink expenses, those still working can breathe a sigh of relief. Next year, they should get a raise.
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