Now may be a good time to ask for a raise

It’s typically annual review time
Published: Nov. 8, 2021 at 9:04 AM EST
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RICHMOND, Va. (WWBT) - Prices are climbing! According to the Federal Reserve we’ve seen more than 4% inflation in 2021.

And with annual review time here, experts say this might be a good time to ask for a raise that keeps up with inflation.

Workers have a little more power this year. You are valuable and employers know it.

Companies across the country are pulling out all the stops to hire. Offering signing bonuses and increased pay.

Michael Joyce with the Richmond financial firm Agili says now is actually a good time to ask for a raise that keeps up with inflation.

“It’s certainly reasonable to ask for a raise that will compensate you for the amount that inflation has gone up. And you might have a lot of leverage because there are a lot of other employers that are looking to hire,” Joyce said.

He encourages you to also look at your total compensation with an employer.

Look at the 401k match. What are the benefits? Is the employer paying any of your health insurance premiums?

While he doesn’t encourage folks to make threats of leaving without a job lined up, he does say, if you don’t ask the question the answers are always ‘no’.

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