Canadians most optimistic for job raises in 2014

While employees in other countries aren’t sure they’ll get raises this year, Canadians are confident they will.

This month, the employment website Monster polled more than 3,500 workers around the world – and found 51 percent are expecting a pay rise sometime this year.

But 57 percent of Canadians were sure they’ll get a raise, topping the list of all the countries polled. Right behind Canada was Germany, while the least optimistic country was France, with 71 percent expecting no raise this year.

“Pay raises are based on a wide variety of factors, but it’s refreshing to see that half of workers generally feel optimistic about their company’s performance and confident in their contributions to it,” says Mary Ellen Slayter, Career Advice Expert for Monster. “On the other hand, we are seeing that plenty of workers aren’t so hopeful about their prospects of getting a raise in 2014.”

Jeffrey Schwartz, executive director of Consolidated Credit Counseling Services of Canada, offers this crucial piece of advice for those seeking a raise: “Don’t ask, show.” For example, Schwartz says…

  1. “Simply asking for a raise can work, but your odds will improve if you provide some research.” Search online for what others in your position, and with your experience, are getting paid.
  2. “Can you list your contributions to the company’s bottom line?” It’s easier to ask for more money if you’re bringing more to your boss.
  3. “Do you know your company’s health and goals?” If your company is ramping up for a new project or has grand plans for a push into a new territory, the time might be right to ask for a raise. But if things look grim and the company is retrenching, you might want to wait.

If you need a raise just to keep your head above the rising tide of debt, Consolidated Credit can help with a variety of money management tools. But you can also call us for a free debt analysis – and receive help today.

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Shivani Karwal
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