Have you been feeling like you're in a seemingly endless salary funk? You're so not alone. A new Hewitt Associates study shows that base pay in 2009 will rise just enough to make it the seventh year in a row of flat salary growth. That's quite a long time for workers to be barely keeping up with inflation, and those of us who entered the workforce within the last seven years may have more than noticed that our salaries are taking small baby steps.
While we can't expect a boost in our base salary, the good news it's expected that one-time performance-based pay will grow by 10.6 percent. These are different times than just a decade ago, when the majority of compensation growth came from increases in base salary rather than merit-based bonuses.