You May Get a Pay Raise This Year

Inflation is 6.8%, according to the November Consumer Price Index, and is expected to crest at 7% in the first quarter of this year, falling to 3.8% by the end of the year. That works sharply against the average American worker as prices rise while income is stationary. Corporate America has factored that into their plans for salaries in 202.

A U.S. think tank of 4,000 global corporations finds they’re adding another 3.9% to the budget line for salaries in 2022.

But in many cases, the increase will not be automatic, and you’ll have to ask for it. That can be pretty intimidating for a lot of people.

Corporate advisor and analyst Daren Martin gives you the script of how to ask.

“Here’s the kind of value I think I’ve been providing to the company, and I’d like to elevate my game even more in 2022. I think what would be really appealing to me is if I was able to be rewarded commensurate with the kind of value I am bringing.”

Good luck.

photo: Getty Images

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