Survey: Don't expect a big raise

Conference Board survey reveals that the average raise for salaried employees will be 3.5 percent.

CNN.Money Reports - Most salaried employees should only expect to get a 3.5 percent pay increase both this year and in 2007, as employers look to keep a lid on payroll expenses, according to a survey published Thursday.

The Conference Board survey, which analyzed the salary budgets for several hundred companies across multiple industries, revealed that this would mark the fourth year the average pay increase was below 4 percent.

"Moderate inflation has allowed employers to continue to control payroll costs," Charles Peck, compensation specialist at The Conference Board said in a prepared statement.
The Conference Board projects a 3.1 percent increase in inflation for 2006 and 3.3 percent in 2007.

On a sector basis, workers in the financial services and insurance fields fared better than their peers when it comes to pay increases so far this year, according to Conference Board, collecting an average of 3.7 and 3.8 percent increases respectively.

Knowing What to Negotiate

Are you looking to make more money? What if you could have more time off rather than money? Which would you prefer?

A recent study by Hudson Highland Group says more than 42% of American's surveyed want to make more money. So do you know how to increase income when it comes time to accept a new offer? What is negotiable? If you don't know what benefits can be negotiated how will you get a better salary and benefit package? You've got to cover all of your bases.

Most older workers surveyed said they want better benefits and a better work-life balance. So, how can you get these things at the point of negotiation?

Benefits and retirement plans are not always negotiable, however if you aren't asking for a higher matching point on your 401K you may be leaving lots of extra money unaccounted for.

What about the work like balance? Here are a few things you may not know are negotiable:

1. Flex Time
2. Work from Home
3. Day Care Contributions
4. Additional time off
5. Extended vacation time

Most people surveyed said they would accept benefits that helped them balance their personal life over more money.

Which is more important to you?

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