About half of Canadian employees are definitely (21 per cent) or possibly (32 per cent) going to ask for a pay raise in 2019, according to a new survey by Indeed.
The survey, which polled 1,000 employees, found this is expected to be more prevalent among millennials (58 per cent) than those aged 55 and older (51 per cent). Also, 24 per cent of male respondents said they’ll definitely be asking for a pay raise in 2019, compared to 20 per cent of female respondents. Men are also more likely to ask for more, with 44 per cent of male respondents saying they plan to ask for a six to 10 per cent increase compared to about 36 per cent of female respondents. Instead, women are more likely (59 per cent) to request a raise of up to five per cent.
While the reasons for asking for a raise vary, 56 per cent of respondents cited cost of living as a major motivator. Merit was also noted as a reason, with 53 per cent of respondents stating they feel they’ve earned a raise due to good performance. Also, 34 per cent of respondents said they’ve taken on more responsibility without any financial reward.
More than half (51 per cent) of survey respondents said they’re in some way influenced by knowing their colleagues’ salaries. About a third (31 per cent) said they’re influenced to ask for a pay increase when knowing their co-workers’ salaries as they believe they should be paid more than them.
Fifty-nine per cent of respondents said they’ve been refused a pay raise in the past because there was no room in the budget. However, 20 per cent of respondents said no reason was given. And 10 per cent noted their employer said they hadn’t worked there long enough to merit a pay raise.
About 60 per cent of respondents said they’d definitely or possibly consider changing companies in order to secure a pay raise, with 21 per cent saying they definitely would consider a move.
Only 13 per cent said they’re satisfied with their current salary, down four per cent from last year. Nearly nine in 10 (88 per cent) said they’d like to earn more in order to live comfortably.
On average, survey respondents received a pay increase about a year and a half ago, with 45 per cent saying they received a salary increase between one and two years ago. However, 14 per cent of respondents said they’ve never received a change in their pay.
Canadian workers will see a pay raise of 2.8 per cent, on average, in 2019, according to the survey, though it found respondents would like a six per cent increase.