A new research study from Ladders reveals that 82% of high-earning professionals surveyed believe they deserve a raise next year, but only 25% asked for one in the past year — which raises interesting questions about raises, promotions, and how professionals go about getting them.
With the Great Recession a decade in the rearview mirror, America’s top professionals are feeling more confident in their abilities, and their worthiness for additional compensation. But they still aren’t asking for it.
82% of respondents agreed that they deserved a raise next year, while only 25% had asked for a raise in the past 12 months. Nonetheless, approximately two-thirds of survey participants indicated that they had received a raise in the past year.
Almost half of respondents settled for a meager raise of 3% or less in the past year, while only 8% reported a 15% or greater increase from their employer.
Promotions are coming much faster in the modern era, with almost a quarter of respondents indicating they had been promoted with less than 12 months on the job. An additional 23% indicated it took them leaving their employer to get promoted.
Ladders professionals responded to the following:
“I deserve a raise next year”:
| Strongly agree | 45% |
| Agree | 37% |
| Neutral | 18% |
| Disagree | 0% |
| Strongly disagree | 0% |
“I asked for a raise in the past year”:
| Yes | 25% |
| No | 75% |
“I received a raise in the past year”:
| Yes | 65% |
| No | 35% |
“My most recent raise was”:
| 0%-3% | 49% |
| 4%-6% | 20% |
| 7%-9% | 7% |
| 10%-15% | 12% |
| Greater than 15% | 8% |
| Other | 4% |
“I deserve a promotion next year”:
| Strongly agree | 25% |
| Agree | 25% |
| Neutral | 43% |
| Disagree | 4% |
| Strongly disagree | 3% |
“For my most recent promotion, I was promoted after ＿＿ months on the job”:
| Less than 12 months | 24% |
| 13-24 months | 22% |
| 25-36 months | 11% |
| 37-48 months | 5% |
| 4 years or longer | 15% |
| I changed companies to get my promotion | 23% |
Methodology
Ladders, Inc. research study conducted October 20th to October 27th, 2019 among the members of the Ladders professional community. 1,233 responses were recorded. Gender distribution was 75% male, 25% female. Average annual compensation of respondents was $148,000.