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Personal Finance

Start Campaign Now for Pay Raise Next Year

Wednesday, October 26, 2005 3:12:39 PM
By EILEEN ALT POWELL

NEW YORK (AP) - Most workers can expect pay raises of about 3.5 percent next year — the same as this year, according to recent employer surveys. If you think you deserve more than that, now may be a good time to approach your boss.

"A lot of companies are in the process of putting their budgets together," said John A. Challenger, chief executive of the Challenger, Gray & Christmas Inc. outplacement firm in Chicago. "It won't hurt to get your name in there now."

But Challenger and other experts warn that appeals that might have worked in the past won't do so anymore. You can't walk into your boss' office and argue that you need more pay because you've just gotten married or had a child, or because you've worked for the company for five years, or because the prices of everything are going up.


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