Time was when people discussed the size of their pay raise. Usually it was to say it was too small. "4%? You got to be kidding me."
These days people are discussing pay cuts." A 5% cut? That's not bad.It could have been so much worse!"
Depending on who you talk to, employees across the country are being asked to give up anywhere from 5-20% of the salary for " the gipper."
Just how many people are experiencing pay cuts?The Wall Street Journal reports that a survey conducted in January by the outplacement firm Challenger, Gray & Christmas,
found that of 100 human-resource professionals surveyed, 27.2% reported that their companies have imposed a salary freeze or cut. A February survey of 245 large U.S. companies conducted by human-resource consultants Watson Wyatt Worldwide found that 4% of companies plan to reduce salary over the next year, with 7% already implementing pay cuts.
What that doesn't tell me is the number of people who are seeing their salary slashed. Does a salary freeze qualify as a pay cut?
And yet, with all the emphasis on pay cuts, there are some people who will actually get a pay raise. Who are these rare species of working stiffs? That was the topic of my Sunday post on BlogHer.
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