55% of workers say their pay isn't keeping up with inflation. What to do if you feel underpaid
But securing bigger paychecks did not necessarily help workers stave off inflation.
"The takeaway continues to be that pay raises predominantly come in the form of performance-based increases, promotions or taking on new job responsibilities," said Greg McBride, chief financial analyst at Bankrate.com. But pay increases due to promotions or new job responsibilities were more common among Gen Z and millennials, rather than Gen X and baby boomers, he said.The best way to boost your pay is to look for new job opportunities externally, according to Vicki Salemi, career expert at Monster.com.Prepare what you want to say ahead of that conversation.
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