What American Workers Will Get The Largest Raises This Year?

Reuters reports that corporate profits are higher than ever before. And yet, salary increases for 2014 are expected to say below pre-recession levels, as the majority of American workers will get less than a 3 percent raise this year.

A projection by the Society for Human Resource Management focused on 2014’s salary trends reports that base pay increases will be around 3 percent this year, or 1 percent lower than pre-recession levels. However, there is a wide disparity in that number, with some workers getting larger raises and the majority getting less than 3 percent.

So who will be the big winners? Here are some, according to the report:

• High Performers: Salary increases for high performers continue to increase compared to their peers. The average increase for employees rated as top performers at companies was 4.3 percent in 2013, compared to 4.1 percent in 2012, and that number is only expected to increase.

• IT, Energy and Medical Professionals: Workers in the IT and medical fields are expected to see larger salary increases this year largely because there is a shortage of qualified people for those jobs. Meanwhile, workers in the energy field have seen 18 percent salary increases since 2006, the most wage growth of any field.

• People Who Change Jobs: The study found that the best way to get a salary increase was to change jobs. Most American workers will get between a 2 to 4 percent salary increase this year, where people who changed jobs could earn 20 to 40 percent salary increases.

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