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”:
“I asked for a raise in the past year”:
“I received a raise in the past year”:
“My most recent raise was”:
|Greater than 15%||8%|
“I deserve a promotion next year”:
“For my most recent promotion, I was promoted after ＿＿ months on the job”:
|Less than 12 months||24%|
|4 years or longer||15%|
|I changed companies to get my promotion||23%|
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.