The current job market has many employers scrambling to fill positions. But they may need to raise wages to do it.
According to a Robert Half survey, 49% of workers feel that they’re underpaid. And 31% of employees say they’d consider leaving their jobs if they don’t get a pay raise heading into 2022.
The good news is that starting salaries for professional occupations are expected to rise 3.8% in the U.S. as employers, per the Robert Half report. So that could mean more money in your paychecks if you’re on a professional career track.
Hourly workers may also see a boost as more companies raise their minimum wage. Costco, CVS and Starbucks are just some of the companies that have increased minimum wage to $15 an hour or pledged to do so in the near future.
If you hope to get a pay raise in 2022, now’s the time to think about how to make the most of it. You could use it to pay off student loans or other debt, for example. Or you could use a pay raise to give your emergency savings account a boost.