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Study: don't count on pay raise next year

If a new study proves to be correct don't count on getting a bump in pay next year. As you're planning that summer vacation, you may be counting on a future pay raise to cover some of the costs. But experts are warning: don't get your hopes up. Experts at employee benefits firms are predicting that the average American worker will see their pay increase by less than four per cent in the next year. That's a lot less than the 5.9 percent wage increase the average worker enjoyed last year. Surveys of human resources professionals show that companies are trying to keep a cap on pay increases as the economy slows. That smaller raise might feel like even less, thanks to rising health care costs. Two experts say, next year, firms will likely pass along to employees a big part of the double-digit increases in health insurance costs. There is something you can do to get more of a raise. HR experts say most managers start thinking about pay hikes right after summer vacation ends. They say making a splash at the office during the slow summer months can help when it comes to getting a bigger raise in the fall.

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