WESTON, Mass.--(BUSINESS WIRE)--
A global poll conducted by Monster reveals that only half of respondents (51%) are expecting a pay raise this year even though recent studies indicate actual salary increase budgets for companies are still below pre-recession levels1.
In honor of International Women’s Day on March 8 — a day set aside to inspire women and celebrate their achievements — Monster also looked at the results by gender, finding that female and male respondents are almost identically optimistic about getting a raise in 2014: 51% percent of women and 50% of men answered in the affirmative.
Monster, the worldwide leader in successfully connecting people to job opportunities and flagship brand of Monster Worldwide, Inc., asked visitors to their site the question, “Do you expect a pay rise in the next year?” and received over 3,585 responses. International findings included:
- 23% of respondents answered “Yes I expect a pay rise in the next year (I’m a woman)”
- 22% of respondents answered “No I do not expect a pay rise in the next year (I’m a woman)”
- 28% of respondents answered “Yes I expect a pay rise in the next year (I’m a man)”
- 27% of respondents answered “No I do not expect a pay rise in the next year (I’m a man)”
Breaking down the numbers by region, Canadian respondents are the most optimistic with 57% believing they will get a raise this year. Surveyed individuals in France are the least optimistic with 71% answering that they do not expect a pay bump in 2014, and only 24% of French women respondents expect one. Women respondents in Germany are far more hopeful, 69% believe they will get a raise in the next year (while only 35% of German men respondents hope for the same). The most optimistic male answers are from Monster UK, where 58% expect a pay raise. American respondents are slightly more positive than average, with 54% of all respondents believing they will get a raise this year.
“Pay raises are based on a wide variety of factors, but it’s refreshing to see that half of workers generally feel optimistic about their company’s performance and confident in their contributions to it,” said Mary Ellen Slayter, Career Advice Expert for Monster. “On the other hand, we are seeing that plenty of workers aren’t so hopeful about their prospects of getting a raise in 2014. If you think you deserve a pay bump but don’t expect to be given one it might be indicative that it’s time for a new job. Evaluate the factors that typically influence raise decisions and consider taking action.
- Assess your contributions- Determine precisely how your work strengthens your company and furthers its successes. Don’t be shy about demonstrating your value.
- Gauge your worth- Go online and research what other people in your industry with similar skills and responsibilities are being paid. Compare your compensation with the competitions.
- Understand the bottom line- Pay attention to how your company, as a whole, is performing. Recognize your boss’s financial responsibilities and anticipate his or her concerns.
If you have a productive conversation about these factors with your manager or boss but your company is unable to offer you a raise due to financial reasons such as a pay freeze, establish a timeframe to readdress your salary concerns in the future and consider discussing alternative rewards you’d enjoy, such as extra vacation time. If your raise request is declined because your supervisor disagrees with your self-appraisal and doesn’t believe your work merits higher pay, revisit your competitive salary research and start looking for job openings.”
The results of the current Monster Global Poll are based on votes cast by Monster visitors from: February 3-17, 2014. Only one vote per user is counted toward the final tabulation. The Monster Global poll, a product of Monster, the premier global online employment solution and flagship brand of Monster Worldwide, Inc., is a series of online polls that gauge users’ opinions on a variety of topics relating to careers, the economy and the workplace. These polls are not scientific and reflect the opinions of only those Internet users who have chosen to participate.
For tips on getting the compensation you think you deserve, please visit: MonsterWorking.com.
About Monster Worldwide
Monster Worldwide, Inc. (MWW), is the global leader in successfully connecting job opportunities and people. Monster uses the world's most advanced technology to help people Find Better, matching job seekers to opportunities via digital, social and mobile solutions including monster.com®, our flagship website, and employers to the best talent using a vast array of products and services. As an Internet pioneer, more than 200 million people have registered on the Monster Worldwide network. Today, with operations in more than 40 countries, Monster provides the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities globally. For more information visit about-monster.com.
1 In 2013, actual salary-increase budgets were 2.9 percent for all job classifications, still well below pre-recession levels, which were typically in the 3.5 to 4.5 percent range. http://www.shrm.org/hrdisciplines/compensation/articles/pages/2014-salary-increase-budgets.aspx
- Employment & Career
- Monster Worldwide
Deepika Murty, 978-461-8765