A good chunk of U.S. companies will not be raising your pay in 2021. A business survey that shows what the pandemic is doing to the people who managed to hang on to their jobs.
Of 1,200 businesses questioned in the Gallagher Annual Salary Planning Survey, 45 percent said there would be no increases in salaries or wages in the coming year. UNO business economics professor Mark Rosa says that is not a surprise.
"Everybody likes a raise, but next year might not be the time to do it," said Rosa. "But the revenues are down so far. We're in a recession, it was declared in the spring, obviously, COVID brought it on, and I think a lot of companies are still fighting their way through it."
Rosa says workers thinking of asking the boss for a raise might want to pivot to something else.
"Time off," Rosa suggests. "Through this pandemic, while we've been cooped up, and you can't do much, and give me a little bit of flexibility, I might be working a four-day work week."
