JACKSONVILLE, Fla. – If you’re working the same job and still waiting to get a decent pay raise, you’re not alone.
Data from the Federal Reserve Bank of America suggests people who stay in their current jobs are not getting big raises compared to those who switch jobs.
For workers across America, cashing in on a pay raise is proving to be more difficult.
Currently, unemployment is near a 50-year low. While some workers are seeing bigger pay raises, others aren't forcing many employees to make the choice to stay or take another job.
Pay raises for people who stay in the same job are remaining stagnant, reported the Associated Press.
Workers may benefit more by switching jobs. In fact, pay raises are reportedly one-third more for people who leave a job for a new one.
Rose Conry is the CEO of Staff Time. She helps people in Jacksonville find employment.
“I think because of the low unemployment- that job stability- you know, a lot of employers offer great benefits. They offer great compensation packages so therefore because of the robust compensation packages, the salary remains a little bit lower or stagnant,” Conrey said.
The report suggests pay raises for manufacturing workers only grew a small amount while retail and restaurant workers saw a bigger increase.
“To get a decent raise, be a superstar. You can go in and do your job every day. The ones that people are looking at, they’re recognizing and they’re actually targeting for the raise is the person that does their job plus a little bit more,” Conry said.
There’s no clear cut answer when it comes to if someone you’re better off taking another job to get a pay raise. Conry said it depends on the person and if they like the industry or job they are currently in.