Sadly, I am old enough to remember the ads where the Maytag repair man sat staring at the phone repeatedly saying 'any day now' yet nothing ever happened. This could be one of those years for pay raises though it could be worse.
Hardly a week goes by without a candidate telling me they are expecting a big raise this spring because nothing was awarded to them last year. In the past week, an old friend of mine told me about a 5% paycut forced upon everyone in his company, a client told me they are being asked to take a week off without pay, and the CEO of Starbucks reduced his multi-million dollar salary to $10,000 just to keep his health insurance plan active for himself and his family.
Even though I have been advocating staying put if you have a fairly secure job, do not sit around expecting generous financial rewards any time in the near future. Most companies are feverishly trying to stay above water and those that are strong wish to stay that way. Perhaps 'any day now' should be replaced by 'maybe next year.' Hang in there!
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