The labor market is historically very tight, yet many Americans go without raises. Less than 70% of companies offer a 3% pay raise annually, an amount that barely keeps pace with inflation.
About 19% of companies don’t offer raises. More than 2.4% of the American workforce quit their jobs in the middle of 2018. Some did so in the desperate hope of leveraging a pay increase.
Before stooping to such desperate ploys, know that salary renegotiation is a form of diplomacy. Here are five tips for getting a raise this year from several noted CEOs.