assignment of future salary

Future Salary Calculator

What is future salary, how to calculate my future salary.

With this future salary calculator, we aim to help you estimate the amount of salary you might get in the future . Please also check out our salary calculator to understand more.

We have written this article to help you understand what future salary is and how to calculate the expected future salary . We will also demonstrate some examples to help you understand the calculations.

In today's rapidly changing job market, it is becoming increasingly important for individuals to plan their financial futures. One way to do this is to calculate future salary. Future salary is the estimated amount of money an individual can expect to earn in the future, based on their current salary and projected salary increases .

While calculating future salary can be helpful for financial planning, it is important to remember that these estimates are just that — estimates. Many factors can impact an individual's earning potential, and it is impossible to predict the future with complete accuracy. However, by considering the factors discussed above and regularly reassessing your financial situation, you can make informed decisions about your career and financial future.

To understand the future salary calculation, or calculate your salary increase, let's look at Carrie as an example:

• Current salary: $50,000;
• Average salary change per year: 5%; and
• Number of years being estimated: 10 years.

You can calculate your salary increase or your future salary in four steps:

Determine your current salary:

The first step is to calculate your current salary. This is the annual salary that you are currently getting paid.

Carrie's current salary is $50,000 .

Compute the average salary change per year:

Next, you need to compute your average salary change per year. This is totally based on your assumptions.

Factors affecting this includes previous salary increases, job performance, promotion, inflation, etc. Check out our salary inflation calculator for more information.

Carrie calculated her average yearly salary increase to be 5% . You can use the percentage increase calculator to help you with this calculation.

Determine the number of years you want to estimate:

Now you can choose the `number of years you want to estimate.

In our example, Carrie would like to know her future salary in 10 years .

Calculate the future salary:

The last step is to calculate the future salary using the formula below:

future salary = current salary × (1 + average salary change) ^ number of years .

Carrie's future salary will be:

$50,000 × (1 + 5%)^10 = $81,444.73

Our future salary calculator also helps you calculate your real future salary, which considers the future inflation rate.

You can calculate the real future salary using this formula:

real future salary = future salary x (1 - average inflation rate) ^ number of years .

Assuming an average inflation rate of 3% , Carrie's real future salary is:

$81,444.73 x (1 - 3%)^10 = $60,059.31

Why is it important to calculate future salary?

Calculating future salary is vital for financial planning , as it can help individuals make informed decisions about their career and financial future . By estimating their potential earnings, individuals can create a plan for saving, investing, and achieving their financial goals.

What is my future salary if my current salary is $70,000?

Assuming your current salary will increase by 5% per year for 10 years, your future salary will be $114,022.62 . You can calculate by using the future salary formula:

How can I calculate my future salary?

You can calculate your future salary in four steps:

Determine your current salary .

Compute the average salary change per year .

Determine the number of years you want to estimate .

Apply the future salary formula:

What factors are important to consider when calculating future salary?

Important factors to consider when calculating future salary include job performance , industry trends , cost of living adjustments , inflation rates , and projected salary increases .

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Assignment of Future Rights: Everything You Need to Know

An assignment of future rights is when a person transfers his/her contractual rights and obligations to someone else. 3 min read

An assignment of future rights is when a person transfers his/her contractual rights and obligations to someone else. This transfer completely confers all of the rights to receive benefits under the contract.

However, if at the time of the assignment there is only a mere possibility or expectation that a future right will arise, the assignment of the future interest will be invalid. The interest in the property assigned must exist and be vested at the time of the assignment. In order to make an assignment valid, the thing assigned must be the product, growth, or increase of property on which the assignor holds a present vested interest.

Money that has been substantially earned on a contract can be assigned. If the benefits, future earnings, or other future interest assigned has not yet accrued, or the assignor has not yet performed his/her part of the contract, the assignment may still be valid. Future earnings or crops may not be a mere possibility.

• An owner of farmland may sell the crops that will grow on his own land but may not sell the crops that will grow on someone else’s land. Unless he has a present vested interest in that land of another. A right which is expected to arise in the future upon a contract which existed at the time of assignment can be assigned.
• An anticipated future right under an executory contract can be assigned.
• An assignment of wages made in reference to a contract of employment not in existence at the time of assignment is not valid.
• An assignment of future wages where there is no contract for services is invalid.
• A person can assign his/her earnings under an existing contract for service.
• A contract to perform a personal skill cannot be assigned.
• The money due on a contract involving personal skill or service or a confidential relationship can be assigned.
• An assignment of future earnings from a certain employment or trade has been treated as an assignment of wages under an existing contract of employment. This is because the possibility of future earnings is coupled with an interest. There is the existence of a vested right.
• Chose in action, except in torts, is assignable. a. A chose in action is the right to bring an action to recover a debt, money, or thing.

An assignment of wages to be earned in the future under an existing employment agreement, even though the employment is for an indefinite time, is not against public policy and is valid if made for valuable consideration, in good faith, and without fraud.

According to Restatement of the Law, Second, Contracts, “[a]n assignment of a right to payment expected to arise out of an existing employment or other continuing business relationship is effective in the same way as an assignment of an existing right.”

However, “a purported assignment of a right expected to arise under a contract not in existence, operates only as a promise to assign the right when it arises and as a power to enforce it.”

Although an executory contract is not assignable, once the contract has been executed to the extent that nothing remains to be done except the payment of money by one of the parties to the other, the claim becomes a chose in action which is assignable.

Supreme Court

What happens when you have a present assignment (or at least a contractual obligation to assign) of invention rights that don’t exist at the time of the assignment (aka “future invention rights”)?

The Supreme Court suggests it is the factual record that will answer this question. They look to:

• The chronological order in which the assignment and the activities occurred
• When a party received funding for the research completed
• When the research activities were carried out after signing anything
• Relative to the invention rights at issue, how much were those rights based on the federally funded research
• How much were they based on the research activities carried out by the other party

If the factual record is complex or unclear, it will be difficult for a court to make a decision.

If you need help with assignment of future rights, you can post your legal need on UpCounsel’s marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

Hire the top business lawyers and save up to 60% on legal fees

Content Approved by UpCounsel

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• Legal Assignment
• Assignment of Rights and Obligations Under a Contract
• Assignment of Rights Example
• Assignment Contract Law
• Assignment Of Contracts
• Consent to Assignment
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• Assignment and Novation Agreement: What You Need to Know

Future Salary Calculator – Estimate Your Earnings

This tool calculates your future salary based on your current salary, expected raise percentage, and time span.

Future Salary Calculator

This calculator helps you estimate your future salary based on your current salary, expected annual raise percentage, and the number of years you want to calculate for.

How to Use:

• Enter your current salary in the “Current Salary” field.
• Enter the annual raise percentage you expect in the “Annual Raise Percentage” field.
• Enter the number of years for which you want the calculation in the “Number of Years” field.
• Press the “Calculate” button.
• The result will be displayed in the “Result” field.

Explanation:

The calculator works by taking your current salary and increasing it each year by the percentage you specify. It repeats this process for the number of years you enter. The formula used is:

Future Salary = Current Salary * (1 + Annual Raise Percentage / 100) ^ Number of Years

Limitations:

• The calculation assumes the raise percentage is constant every year.
• It does not account for taxes, bonuses, or other financial variables.
• Always consult a financial advisor for comprehensive financial planning.

Use Cases for This Calculator

Calculate your future salary use cases:.

1. Basic Salary Projection: You can input your current salary, expected annual increase rate, and years in the future to estimate your future salary. This use case helps in planning your financial growth over time.

2. Comparison with Inflation: By entering your projected salary and the inflation rate, you can see your future salary adjusted for inflation. This comparison gives you a realistic view of your purchasing power in the future.

3. Multiple Income Sources: If you have multiple income sources, you can calculate the total future income by inputting each income amount, increase rate, and time frame. This feature assists in comprehensive financial planning.

4. Retirement Savings Target: Determine the future salary needed for retirement by specifying your desired retirement age, years in retirement, and income replacement ratio. This use case aids in setting realistic retirement savings goals.

5. Customized Income Growth: Tailor your income growth projection by inputting different increase rates for specific periods. This feature allows you to account for promotions, bonuses, or career changes over time.

6. Visualize Salary Growth: View a graph illustrating your projected salary growth over the years based on your inputs. This visual representation helps you understand the trajectory of your income and plan accordingly.

7. Education and Career Advancement: Estimate the impact of further education or career advancement on your future salary by adjusting the growth rate accordingly. This use case enables you to make informed decisions about investing in your professional development.

8. Family Income Planning: Plan your family’s future income by including multiple earners’ details to calculate the total household income projection. This functionality assists in creating a holistic financial strategy for your family.

9. Tax Implications: Factor in estimated tax rates for different future income levels to understand the impact of taxes on your take-home pay. This use case helps you consider tax planning in your financial projections.

10. Scenario Analysis: Create different salary growth scenarios by adjusting various parameters to compare outcomes and make well-informed decisions. This feature empowers you to analyze different financial paths and choose the most suitable one.

Other Resources and Tools

• Future Value Of Annuity Calculator – Estimate Your Earnings
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• Hourly To Salary Calculator – Convert Your Earnings
• Salary to Hourly Calculator: Convert Your Earnings with Ease
• Robert Half Salary Calculator: Accurate Salary Estimates

§ 28–2305. Contract to assign future salary or wages.

(a) A contract attempting or purporting to transfer or assign salary or wages to be earned by the debtor, if made in the District of Columbia, is invalid and contrary to public policy and unenforceable, and if made outside the District of Columbia, is unenforceable in any court within the District of Columbia.

(b) Whoever, in the District of Columbia demands or receives from a debtor an assignment of salary or wages to be thereafter earned by the debtor, or notifies an employer that he holds an assignment of such salary or wages, upon conviction shall be fined not more than the amount set forth in [ § 22-3571.01 ] or imprisoned not more than sixty days. Prosecutions under this subsection shall be upon information filed in the Criminal Division of the Superior Court of the District of Columbia by the Corporation Counsel of the District of Columbia or one of his assistants.

Salary Calculator

The Salary Calculator converts salary amounts to their corresponding values based on payment frequency. Examples of payment frequencies include biweekly, semi-monthly, or monthly payments. Results include unadjusted figures and adjusted figures that account for vacation days and holidays per year.

This salary calculator assumes the hourly and daily salary inputs to be unadjusted values. All other pay frequency inputs are assumed to be holidays and vacation days adjusted values. This calculator also assumes 52 working weeks or 260 weekdays per year in its calculations. The unadjusted results ignore the holidays and paid vacation days.

Related Take Home Pay Calculator | Income Tax Calculator

A salary or wage is the payment from an employer to a worker for the time and works contributed. To protect workers, many countries enforce minimum wages set by either central or local governments. Also, unions may be formed in order to set standards in certain companies or industries.

A salary is normally paid on a regular basis, and the amount normally does not fluctuate based on the quality or quantity of work performed. An employee's salary is commonly defined as an annual figure in an employment contract that is signed upon hiring. Salary can sometimes be accompanied by additional compensation such as goods or services.

There are several technical differences between the terms "wage" and "salary." For starters, while the word "salary" is best associated with employee compensation on an annual basis, the word "wage" is best associated with employee compensation based on the number of hours worked multiplied by an hourly rate of pay. Also, wage-earners tend to be non-exempt, which means they are subject to overtime wage regulations set by the government to protect workers. In the U.S., these regulations are part of the Fair Labor Standards Act (FLSA). Non-exempt employees often receive 1.5 times their pay for any hours they work after surpassing 40 hours a week, also known as overtime pay, and sometimes double (and less commonly triple) their pay if they work on holidays. Salaried employees generally do not receive such benefits; if they work over 40 hours a week or on holiday, they will not be directly financially compensated for doing so. Generally speaking, wage-earners tend to earn less than salaried employees. For instance, a barista that works in a cafe may earn a "wage," while a professional that works in an office setting may earn a "salary." As a result, salaried positions often have a higher perceived status in society.

Most salaries and wages are paid periodically, typically monthly, semi-monthly, bi-weekly, weekly, etc. Although it is called a Salary Calculator, wage-earners may still use the calculator to convert amounts.

Miscellaneous Employee Benefits

While salary and wages are important, not all financial benefits from employment come in the form of a paycheck. Salaried employees, and to a lesser extent, wage-earners, typically have other benefits, such as employer-contributed healthcare insurance, payroll taxes (half of the Social Security and Medicare tax in the U.S.) that go towards old age and disability, unemployment tax, employer-contributed retirement plans, paid holiday/vacation days, bonuses, company discounts, and more. Part-time employees are less likely to have these benefits.

Miscellaneous employee benefits can be worth a significant amount in terms of monetary value. As such, it is important to consider these benefits as well as the base wage or salary offered when choosing between jobs.

Self-employed Contractors

Self-employed contractors (freelancers who sell their goods and services as sole proprietorships) typically provide their own rates, which can be hourly, daily, or weekly, etc. Also, contractors generally do not have benefits such as paid time off, cheaper health insurance, or any other monetary perks typically associated with full-time employment. As a result, their pay rates should generally be higher (sometimes significantly so) than the salaries of equivalent full-time positions. Nevertheless, rates in the real world are driven by many factors, and it is not rare to see contractors take lower compensation.

How Unadjusted and Adjusted Salaries are calculated?

Using a $30 hourly rate, an average of eight hours worked each day, and 260 working days a year (52 weeks multiplied by 5 working days a week), the annual unadjusted salary can be calculated as:

$30 × 8 × (260) = $62,400

As can be seen, the hourly rate is multiplied by the number of working days a year (unadjusted) and subsequently multiplied by the number of hours in a working day. The adjusted annual salary can be calculated as:

$30 × 8 × (260 - 25) = $56,400

Using 10 holidays and 15 paid vacation days a year, subtract these non-working days from the total number of working days a year.

All bi-weekly, semi-monthly, monthly, and quarterly figures are derived from these annual calculations. It is important to make the distinction between bi-weekly, which happens every two weeks, and semi-monthly, which occurs twice per month, usually on the fifteenth and final day of the month.

Different Pay Frequencies

The calculator contains options to select from a number of periods normally used to express salary amounts, but actual pay frequencies as mandated by varying countries, states, industries, and companies can differ. In the U.S., there is no federal law that mandates pay frequency, except one stating that employees must be paid in routine and predictable manners. Mandatory consistent payments give employees a lot of stability and flexibility. However, at the state level, most states have minimum pay frequency requirements except for Alabama, Florida, and South Carolina. For further details, consult state regulations regarding pay frequency.

The most common pay period frequencies tend to be monthly, semi-monthly (twice a month), bi-weekly (every two weeks), weekly, and daily. They are explained in the following chart.

U.S. Salary Information

In the U.S., salaried employees are also often known as exempt employees, according to the Fair Labor Standards Act (FLSA). This means that they are exempt from minimum wage, overtime regulations, and certain rights and protections that are normally only granted to non-exempt employees. To be considered exempt in the U.S., employees must make at least $684 per week (or $35,568 annually), receive a salary, and perform job responsibilities as defined by the FLSA. Certain jobs are specifically excluded from FLSA regulations, including many agricultural workers and truck drivers, but the majority of workers will be classified as either exempt or non-exempt.

The federal minimum wage rate is $7.25 an hour. However, states may have their own minimum wage rates that override the federal rate, as long as it is higher. For instance, the District of Columbia (DC) has the highest rate of all states at $17.50 and will use that figure for wage-earners in that jurisdiction instead of the federal rate. On the other hand, Georgia has their minimum wage rate set at $5.15, but the $7.25 federal minimum rate overrides it.

Factors that Influence Salary (and Wage) in the U.S. (Most Statistics are from the U.S. Bureau of Labor in 2023)

In the third quarter of 2023, the average salary of a full-time employee in the U.S. is $1,118 per week, which comes out to $58,136 per year. While this is an average, keep in mind that it will vary according to many different factors. The following are only generalizations and are not true for everyone, especially in regards to race, ethnicity, and gender.

• Age —A person closer to their peak income years, which is 40-55, will generally have higher salaries. Men aged 45 to 54 had the highest annual earnings at $73,008, and women earned the most between the ages of 45 and 54 at $58,448.
• Education —The higher the attained level of education of a person, the higher their salary tends to be. Workers 25 or over without a high school degree had median earnings of $37,492 compared to $47,060 for high school graduates. Workers with at least bachelor's degrees earned $84,240 annually on average.
• Experience —In general, the further entrenched a person is in their career, the more experience or perceived ability they have, or the more valuable their skillset, the higher their salary tends to be.
• Race and Ethnicity —Black men earned a median salary of $50,336, compared to white men at $64,012. The discrepancy is less for black women compared to white women: $46,072 and $53,092. Hispanic and Asian people of both genders earned $46,020 and $75,088, respectively.
• Gender —Men earned an average salary of $62,816, and women earned $52,260. Women are generally paid less than men, and this difference is called the gender pay gap. There are many reasons that this pay gap exists, including discrimination, the specific industry, motherhood, and gender roles.
• Industry —Industry affects wages paid, even in similar roles. For instance, all else being equal, an office clerk at a public school system will most likely make a lower salary than one at a private hedge fund. This also includes the relative stability of industries and companies and their forecasted trends.
• Location —Different locations will have different supplies and demands for positions, and average salaries in each area will reflect this. Keep in mind that the cost of living should be noted when comparing salaries. In some cases, a job that offers a higher salary may equate to less overall once the cost of living of a different location is accounted for.
• Misc. —To a lesser extent, salary is also influenced by the overall performance of companies; during years of high profits, a company may choose to pay a higher than average salary for a job applicant with excellent credentials. Also, in certain jobs, workers are expected to perform job responsibilities in dangerous working conditions, such as handling dangerous chemicals in a research facility, working in an underground mine with the presence of potential toxins, or patrolling a notoriously dangerous part of town as a police officer. Such jobs can be compensated with a higher salary in the form of hazard pay. Similarly, people who work less favorable shift hours, such as the "graveyard shift," which runs through the early hours of the morning, can sometimes earn a premium for doing so, due to the higher social and physical costs of working outside normal hours.

The 11 Annual Federal Holidays in the U.S.

Although there are 11 federal holidays in the U.S., companies typically allow time off for 6 to 11 holidays. Generally, only employees who work in a branch of the federal government benefit from all federal holidays. Employees that work for private employers are subject to the policy of their employer. Also, unless stated in a contract or collective bargaining agreement, an employer is not obligated to pay an employee anything extra such as overtime for working on a federal holiday.

Other countries have a varying number of public holidays. Cambodia has the most days in a year in the world set aside to be non-working days, as established by law, at 28, followed by Sri Lanka at 25. Remember to adjust the "Holidays per Year" input to calculate a correct adjusted result.

Vacation Days, or Paid Time Off (PTO)

Traditionally in the U.S., vacation days were distinctly separate from holidays, sick leaves, and personal days. Today, it is more common to have them all integrated together into a system called paid time off (PTO). PTO provides a pool of days that an employee can use for personal leave, sick leave, or vacation days. Most importantly, the reasons for taking time off do not have to be distinguished. There's no need to fumble over whether to designate an absence as sick or personal leave, or to have to ask the manager to use a vacation day as a sick day. There are, however, some downsides to having them combined. For instance, if an employee gets very sick for a week and has to take five days off, their total pool of PTO will be reduced by the five days absent, which may force them to reconsider the week-long vacation they had originally planned.

In the U.S., the Fair Labor Standards Act (FLSA) does not require employers to give their employees any vacation time off, paid or unpaid. Therefore, when interviewing and deciding between jobs, it may be wise to ask about the PTO policy of each potential employer. With that said, the average American gets around 10 days of PTO a year; the bottom 25% of wage earners only get an average of four paid vacation days a year. Most companies tend to institute a policy that increases the amount of PTO an employee gets every several years or so as an incentive to retain workers.

Most employers (over 75%) tend to provide vacation days or PTO for many beneficial reasons. They can help prevent employee burnout, maintain employee morale, or be used for any reasonable situations where leave is necessary, such as medical emergencies, family needs, and of course, actual vacations. As an aside, European countries mandate that employers offer at least 20 days a year of vacation, while some European Union countries go as far as 25 or 30 days. Some other developed countries around the world have vacation time of up to four to six weeks a year, or even more.

How to Increase Salary

There are very few people in the world who wouldn't welcome a higher salary, and there are a myriad of ways in which a person can try to do so. While it is definitely easier said than done, it is certainly possible.

• Education —Statistics have shown that the higher the level of education a person attains, the higher their average lifetime earnings. However, becoming more educated for a higher salary does not imply that everyone should immediately go out and receive a higher degree. Proof of knowledge can come in many other different forms. For one, qualifications or certifications are a less time-consuming and financially significant undertaking that can still result in a salary increase. Simply increasing relevant knowledge or expertise that pertains to a niche profession or industry can increase salary. This may involve staying up-to-date on current events within the niche by attending relevant conferences or spending leisure time reading on the subject.
• Experience —The more experience a person has within any niche industry or profession, the more likely their salary will increase over the years, given that they stay within the industry. This may be due to several reasons; for one, it shows that a person has enough interest in the industry to stay within it long-term. Secondly, by lasting within the industry long enough, there is sufficient proof that they are probably somewhat skilled. Employers see these as good signs and are more willing to increase a worker's salary.
• Network —For many niche professions or industries, there are professional organizations or trade associations that help their members network. These organizations try to connect their members with other members who may share the same profession and goals, or work in the same industry, which can potentially lead to job opportunities that can improve the salary.
• Performance Reviews —Most employers give out annual performance reviews to their employees. Most performance reviews usually involve a conversation between manager and employee regarding the past year and how the employee performed, the direction of the employee's role moving forward, including any new responsibilities they may have, and constructive criticism on what they could do better, among other things. Annual reviews that are, for the most part, positive are generally followed by an annual pay raise. If no raise is given, even after a glowing review, it may be in the employee's best interest to ask for a salary increase or begin considering other employment options.
• Negotiate —If a performance review was mostly positive, but no mention of a pay raise is made, it may be worth considering approaching the employer to attempt to negotiate a pay raise. Highlight achievements, particularly those that may have been mentioned in a performance review, such as meeting or exceeding certain sales goals, taking on a number of new job responsibilities, or anything valuable that was contributed to the employer that might warrant a raise. When starting a new job, it is also important to negotiate a higher salary, if possible.
• Change jobs —People that are stuck in a career they dislike with no salary increase and who have exhausted all other options to try to increase their salary may want to consider changing jobs. It is fairly common for some people to have a 10% or more increase in salary from doing so.

More From Forbes

How startups and small businesses signal the future of work.

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In his upcoming book Rethinking Work , Rishad Tobaccowala , former Chief Growth Officer at Publicis , lists five trends that business leaders need to be aware of. First is the demographic shift, second is technology like Generative AI, third is freelance work, fourth is marketplaces, and fifth is individuals questioning why they work.

Of these five, three are directly related to the shift in work from default full-time jobs to default self-employment, a model of work that most call the freelance economy. Today, some 435 million freelancers from 63 countries offer their services to businesses across 186 countries. That is 12.5% of the global workforce that’s available at a click’s distance according to the World Bank . Meanwhile, 70% of Gen Z are currently freelancing or plan to in the future .

More than individuals, how companies access and manage their workforce is transforming from an analog world to a digital world, led by the rise of talent platforms. I call this the shift to the Human Cloud, since just like the shift to cloud computing required intermediaries and applications like Salesforce , AWS , and Azure , the shift in the workforce is led by over 800 talent platforms – each increasingly specialized by their skillset, industry, and regional expertise.

Both companies and individuals are recognizing the importance of talent platforms. 40% of self-employed individuals worked on talent platforms in the last 12 months, and 47% plan to work on talent platforms in the next 12 months. Meanwhile, Harvard Business Review’s report Building The On Demand Workforce stated that “almost 90% of business leaders believed that the talent platforms would be somewhat or very important to their organization’s future competitive advantage,” and a 2022 joint study by MIT Sloan Management Review and Deloitte reported that 86% of global business leaders state the effective management of external contributors is critical to their organization’s overall performance.

However, the adoption of freelance talent platforms hasn’t been as widespread as cloud computing nor as buzzworthy as recent AI advancements. Human Cloud Trend Tracker data (Q3, 2024) shows that only 39% of talent platforms cite positive business performance, while only 5% of talent platform leaders say they have been “successful” at attracting clients (26% decrease). It’s not just the freelance economy. Tech has had a rough year and the New York Times reported that the U.S. added 818,000 fewer jobs than reported for the past 12 months.

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So where does freelance, specifically the self-employed workforce and talent platforms that source, manage, and scale self-employed workforces stand? Will talent platforms realize their 16.5% CAGR from 2023 to 2030 estimated by Grand View Research ?

Startups and Small Businesses Signal What’s Possible

The technology adoption lifecycle is a known maturity curve for promising industries.

Technology Adoption Lifecycle

It describes the relationship between what type of leaders and organizations, at what stage, embrace a technology. Early adopters are typically smaller, more tolerant to risk, comfortable with uncertainty and lack of standardization, and invest in the potential rather than a tried and true product or service. Whereas the majority require standards, best practices, and a highly robust ecosystem.

In the case of talent, freelance talent platforms are a technology that create a paradigm shift in the relationship between employer, employee, and the existing external talent ecosystem. This is a large shift, and reaching maturity requires overcoming the anecdote “no one gets fired by hiring Accenture”. But it’s not without precedent.

Olivier Nguyen Van Tan , Chief Marketing Officer at Malt and former Vice President at Salesforce, says the maturity of the human cloud is “no different than the early stages of shift to cloud computing. At first, it’s startups and small teams within large enterprises adopting. Then it becomes the standard and companies that don’t embrace it get left behind.”

A common example is Netflix disrupting Blockbuster by adopting the cloud before Blockbuster and establishing a clear moat that Blockbuster couldn’t overcome. In the case of talent, the cost of not embracing freelance is futile as talent is finite. There’s not infinite top talent as there is infinite cloud storage. Thus for executives, not building your talent pools of freelancers today can be devastating within the next few years.

So what do small businesses and startups say about freelance? I talked with over 30 company executives this past month: from Omaha Steaks to Microsoft to Airbus to fast-growing startups. This article is the start of a series showing how executives in various environments view the future of freelance within companies.

Kartik Ahuja , Founder, CEO, and CFO at GrowthScribe (United States)

Freelancers have been a big part of our talent strategy. In the past, we’ve hit a roadblock multiple times when we couldn’t find a specific skill set locally. By hiring freelancers, we can tap into global talent, speeding up project timelines and enhancing our services' quality. Speaking from experience, this equips us with unique perspectives and experiences, making our work enriching and more innovative. Plus, freelancers come from different countries, which adds a wide range of cultural perspectives to our projects. It fosters creativity by allowing us to approach problems from multiple angles. By incorporating various cultural nuances, our campaigns are more effective in reaching a global audience. On the other hand, it promotes inclusivity, contributing to an adaptable, diverse, and open-minded work culture, which is crucial in today’s global work environment.

Chris Yang , Co-founder of Coins Value (United States)

Freelancers proved to be a game-changer for Coins Value. Partnering with a network of skilled independent professionals has empowered us to ramp up our content creation quickly, website development, and data analysis capabilities. This has helped us launch new features and services efficiently while keeping the overhead costs low and the team agile. Furthermore, freelance platforms and remote work offer enterprises an excellent opportunity to connect with top talent worldwide. By embracing this trend, organizations will open themselves to a more diverse talent pool, fostering innovation and creative problem-solving across their teams.

Michael Olsen , Co-founder and CEO of Mailbird (Denmark)

When we founded Mailbird twelve years ago, as a US-based company, we couldn’t hire actual employees from abroad. So we built a team of independent contractors - all working remotely from around the world. Relying on a team of 30 independent contractors, we have never had the need to have an employee. Among the many advantages of this approach, the one thing that's hard to beat is the access we have to tremendous talent around the world that has helped us grow through the years. Also, people have flexibility in how they handle their taxes and can decide whether they want to start their own company or not. Not to mention the lower overhead and the fact that we can quickly hire a freelancer to tackle an urgent project, or scale down in an area when we need to focus on another.

Becky Read , VP People, Focal Point Positioning (United Kingdom)

At FocalPoint, freelancers offer more than just technical proficiency – they bring fresh perspectives, creativity, and innovation. As a niche GPS-based technical company, leveraging freelancers and contractors is crucial to our success. This approach allows us to remain agile while accessing the specialized global expertise we require, whether for short- or long-term projects. By expanding our network to include independent professionals from all over the world, we have been able to tap into agile, specialised knowledge essential to our growth. We have also benefited from freelance expertise in PR, marketing, website design, and content creation. This allows us to stay focused on our core strategic priorities, all while trusting our contractors to deliver exceptional results.

Valerie Khayutin , North America CEO of BADESOFA (Germany)

For the last two years, my team has been fully remote and global, with the majority of our talent pool consisting of freelancers and independent contractors. This approach allows us the flexibility to test different strategies, adjust resource allocation in response to seasonal demand, and have the kind of localized know-how that is critical to marketing strategies. Freelance talent often works with other businesses in the same industry, bringing valuable insights and connections that a traditional in-house team might not have. In my experience, the best results are achieved when a blended team of in-house staff and contractors is treated as a unified team, with regular meetings and shared communication channels.

Debora Lima , Managing Director at Sensei Advisory (United States)

Adopting a model that combines a small, core team of full-time staff with a rolodex of global freelancers, hired as-needed based on new client or new client needs, has been instrumental to our agency's evolution. When Sensei launched in 2020, our team was made up of almost 10 full-time employees. We went through a restructuring phase, and once I stepped into a strategic direction-focused role about a year ago, I elected to adapt a model of ad hoc freelance staffing to backfill whatever our smaller team could take on. As a strategic advisory and comms agency with offices across the US and Europe, it was the natural next step to leverage the growing talent pool of world-class freelancers. Now Sensei has three full-time employees, myself included; for everything else, we hire freelancers.

What Can We Learn From Startups And Small Businesses About The Future Of Freelance?

The shift towards a global freelance workforce marks a transformative moment in staffing and business operations all around the world. Like how AWS enabled thousands of startups to outcompete, scale, and eventually replace or merge with incumbents, the Human Cloud enables all businesses access to the most important asset: top talent.

Based on our interviews with startups and small businesses, a couple of themes keep popping up related to the power of freelance platforms and top talent.

The first theme is access to top talent from every inch of the globe, enabling companies a diverse pool of talent that unlocks expertise and new revenue streams thanks to the potential of local market coverage. In the words of Kartik Ahuja of GrowthScribe: “With freelancers on board, we’ve served clients in regions we never imagined. Individuals native to certain regions understand the local market, language, and cultural preferences, improving our ability to serve clients in those regions. This localized expertise is gold no matter which industry you represent.” This is crucial in today's global economy, as AirBnB recently stated in their Q2 earnings report that “Latin America and Asia-Pacific continue to be our fastest-growing regions.” Rather than opening a LATAM office, companies can access Torc for top LATAM software developers, Ollo for top LATAM creatives, and myBasePay for scaling a LATAM freelancer workforce compliantly. In Asia, companies can access Ravenry for market research, Talmix for business consultants, Superson for creatives, or Expert Powerhouse for subject matter expertise. Even for an industry as niche as oil and gas, Trees Engineering can provide Southeast Asian freelance engineers.

The second theme is scale while maintaining agility, flexibility, and controlling cost. Rather than long, monthly, and risky full-time hires, freelance is a quick, low-risk, and elastic way to scale in line with market demand and productivity demands. Chris Yang of Coins Value said “a network of skilled independent professionals has empowered us to ramp up our content creation quickly, website development, and data analysis capabilities. This has helped us launch new features and services efficiently while keeping the overhead costs low and the team agile.” For this reason, freelance management is a fast-growing solution for companies of all sizes and regions. As a Forbes reader, you’ve probably heard of remote payroll and compliance solutions like Deel , Remote , and Rippling . But Mellow is a freelancer compliance, payroll, and management system that specializes in hard-to-reach regions and uses a transparent 2% fee for every freelance dollar spent, enabling both the safety of scaling compliantly and the control of accurately managing your costs.

The third theme is high-quality expertise. This arguably is the greatest impact of the freelance economy, as freelancers now have the brand credentials, portfolio, and exact expertise that enable startups to avoid the typical time and cost to onboard. While freelance networks have impressive technology, the wow factor from a company's perspective usually comes in the first 2-5 days when talent platforms deliver the first round of available freelancers. The typical response is akin to, “We can really access this level of expertise at this fraction of a cost,” only to be equally if not more impressed when the work is done at a fraction of the time.

So what do you think? Whether a startup, small business, or enterprise, is your organization equipped with the power of freelance networks?

In the next article in this series, I’ll go over the large enterprise executives' view of the freelance economy.

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US consumer confidence rises in August as Americans’ optimism about future improves

FILE - A customer walks by No Boundaries merchandise at a Walmart Superstore in Secaucus, New Jersey, July 11, 2024. (AP Photo/Eduardo Munoz Alvarez, File)

A shopper considers a purchase in a Costco warehouse Thursday, Aug. 22, 2024, in Parker, Colo. (AP Photo/David Zalubowski)

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American consumers felt more confident in August as their outlook for the future improved.

The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 103.3 in August from 101.9 in July.

The index measures both Americans’ assessment of current economic conditions and their outlook for the next six months.

The measure of Americans’ short-term expectations for income, business and the job market rose to 82.5. July’s figure was revised up to 81.1 from its initial reading of 78.2, ending a five-month stretch below 80. A reading under 80 can signal a potential recession in the near future.

Consumers’ view of current conditions rose to 134.4 in August from 133.1 last month.

Consumer spending accounts for nearly 70% of U.S. economic activity and is closely watched by economists for signs how the American consumer is feeling.

Though the report’s topline numbers all improved slightly from July, consumers continued to have mixed feelings about the economy.

“Consumers’ assessments of the current labor situation, while still positive, continued to weaken, and assessments of the labor market going forward were more pessimistic,” said Dana Peterson, the Conference Board’s chief economist.

Peterson said that dreary view was likely spurred by the July jobs report, which showed slowing job growth and a rise in the unemployment rate to 4.3%.

On top of the weak July jobs data, the government reported last week that the U.S. economy added 818,000 fewer jobs from April 2023 through March this year than were originally reported. The revised total added to evidence that the job market has been steadily slowing.

Though inflation has largely receded from 2022 highs, the cost of essentials continues to chip away at American consumers’ savings and optimism.

Write-in responses to the Conference Board’s survey were still focused on prices and inflation, even as 12-month inflation expectations fell to their lowest level since March of 2020, when the coronavirus pandemic upended the U.S. economy.

The Federal Reserve began raising its benchmark lending rate in March of 2022 in an attempt to fight the inflation that took hold in the wake of the pandemic. Higher borrowing costs, combined with rising prices, had consumers in a foul mood for the better part of the past two years.

Some help could be on the way though. Fed officials have strongly suggested that an interest rate cut is coming at its September meeting, giving some relief to consumers and businesses.

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Angels Prospect Who Underwent Season-Ending Surgery Has Chance to Make 2025 Rotation

Eva geitheim | aug 27, 2024.

• Los Angeles Angels

Angels pitching prospect Chase Silseth underwent elbow surgery earlier this month and will miss the rest of the season. He did not undergo Tommy John surgery, and is expected to be ready to return for the start of spring training in 2025.

Even with Silseth coming off a surgery heading into next season, Angels general manager Perry Minasian believes Silseth can return to the level of pitching that made him one of the Angels' most promising recent prospects on the mound.

“We’ve seen him when he was healthy, and we’ve seen how effective he can be,” Minasian said, via Jeff Fletcher of the Orange County Register. “I know Chase and how bad he wants to be good, and what he’ll put into it this offseason to be in the best shape he can possibly be in. We believe he’s somebody that’s going to factor next spring, and have a chance to start games and win games for us.”

Silseth's injuries held him back this season. The 24-year-old made just two starts for the Angels before he was placed on the injured list with elbow inflammation. Over those two starts, Silseth was 0-1 with a 6.75 ERA and 12 strikeouts, giving up three earned runs in each game.

When he returned from the IL in June, he was optioned to Triple-A. With Triple-A Salt Lake, Silseth made seven starts, struggling as he went 0-3 with a 6.35 ERA and 16 strikeouts. He was then shut down after making his last start on July 28, before undergoing surgery.

Silseth, who became the first player in the 2021 MLB Draft class to debut, first pitched for the Angels in May 2022. That year, Silseth went 1-3 with a 6.59 ERA and 12 strikeouts as a rookie. He had encouraging moments through the 2023 season, recording a 3.21 ERA in his final seven games of the season when he became a starter.

Overall, Silseth went 4-1 with a 3.96 ERA, while posting a 2.96 ERA in Triple-A last season.

The Angels are still looking for consistent pitchers in their rotation, as the team holds the fourth-worst ERA in MLB. The team has been seeking better pitching for years, and remain optimistic Silseth could turn into one of those answers next season.

EVA GEITHEIM

Eva graduated from UCLA in 2023 with a bachelor's degree in Communication. She has been covering college and professional sports since 2022.

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Baltimore Ravens GM hints that future trades may be in the works

The Baltimore Ravens  trimmed down their roster this week, but the team isn't done making moves.

The Ravens tend to be active late in the summer and into the season, tinkering with the roster, adding veterans, or making trades. Though the Ravens have a talented roster that's set to compete for a Super Bowl, they do still have some areas that need addressing, like the offensive line and pass rush .

On Thursday, Ravens GM Eric DeCosta suggested that the team wants to put itself in position to make a trade if needed. He said that the team is currently not salary cap "compliant" to make a deal, so they will be making moves to set themselves up.

"We don't right now," DeCosta said when asked if the Ravens have the flexibility to make a trade. "Because I think we're probably over the cap when you factor in practice squads and things like that. But at some point we will have to make some moves in the coming days and weeks. And we've been planning for all that. 

"So, there's a lot of things we'll be able to do. We'll be cap-compliant, and we will have at least some money to spend if a player is available that we think will help us be the best team we can be."

It shouldn't come as a surprise that the Ravens will put themselves in a position to make moves if they need to.

What is more eye-opening is DeCosta admitting that more cost-cutting moves are still to come, and that the team wants  to be in position to make a trade (and, of course, be cap-compliant). This wasn't a GM saying that they like their roster as is; this was a suggestion that the roster still needs tinkering and that the team will be eyeing upgrades.

What those moves will be remains unknown. But expect the Ravens to be active in the coming days and weeks.

Scott Davis covers the Knicks and Ravens on The Sporting News. He previously spent much of the last decade as a sports reporter for Business Insider, covering all sports, with a specific focus on the NBA and NFL. Follow him on Twitter/X @WScottDavis

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Job title of the future: Weather maker

One scientist leads a project to increase winter snowfall so that desert towns in the US West will have water in summer.

• Mara Johnson-Groh archive page

Much of the western United States relies on winter snowpack to supply its rivers and reservoirs through the summer months. But with warming temperatures, less and less snow is falling—a recent study showed a 23% decline in annual snowpack since 1955. By some estimates, runoff from snowmelt in the western US could decrease by a third between now and the end of the century, meaning less water will be available for agriculture, hydroelectric projects, and urban use in a region already dealing with water scarcity. 

That’s where Frank McDonough comes in. An atmospheric research scientist, McDonough leads a cloud-seeding program at the Desert Research Institute (DRI) that aims to increase snowfall in Nevada and the Eastern Sierras. Snow makers like McDonough and others who generate rain represent a growing sector in a parched world. 

Instant snow: Cloud seeding for snow works by injecting a tiny amount of silver iodide dust into a cloud to help its water vapor condense into ice crystals that grow into snowflakes. In other conditions, water molecules drawn to such particles coalesce into raindrops. McDonough uses custom-­made, remotely operated machines on the ground to heat up a powdered form of the silver iodide that’s released into the air. Dust—or sometimes table salt—can also be released from planes. 

Old tech, new urgency: The precipitation-­catalyzing properties of silver iodide were first explored in the 1940s by American chemists and engineers, but the field remained a small niche. Now, with 40% of people worldwide affected by water scarcity and a growing number of reservoirs facing climate stress, cloud seeding is receiving global interest. “It’s becoming almost like, hey, we have to do this, because there’s just too many people and too many demands on these water resources,” says McDonough. A growing number of government-­run cloud-seeding programs around the world are now working to increase rainfall and snowpack, and even manipulating the timing of precipitation to prevent large hailstorms, reduce air pollution, and minimize flood risk. The private sector is also taking note: One cloud-seeding startup, Rainmaker, recently raised millions.

Happy birthday, baby! What the future holds for those born today

An intelligent digital agent could be a companion for life—and other predictions for the next 125 years.

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The race to save our online lives from a digital dark age

We’re making more data than ever. What can—and should—we save for future generations? And will they be able to understand it?

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The year is 2149 and …

Novelist Sean Michaels envisions what life will look like 125 years from now.

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This designer creates magic from everyday materials

Skylar Tibbits coined the term “4-D printing” – then immediately moved on to his next blue-sky idea.

• Anna Gibbs archive page

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A salary assignment arises out of an agreement between an employee (assigning debtor ) and a third party (assignee creditor ) who agree that the latter will acquire ownership of the assignable part of the compensation that the employer (the assigned) owes to their employee.

This agreement is an applied example of an assignment of debt claim .

Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at  [email protected] .

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DNC 2024 Day 4 live updates: Harris says she will 'fight for America's future'

Harris set her agenda in a rousing speech at the DNC.

The moment that millions around the country have been waiting for took place Thursday at the Democratic National Convention as Vice President Kamala Harris accepted the nomination for the presidency.

Harris took the stage to a roaring standing ovation and soon set her agenda in a rousing speech.

Whether it was immigration, reproductive rights or foreign security, the vice president showcased a sharp contrast in policies to former President Donald Trump.

Harris's speech was preceded by a who's who of leaders from both sides of the aisle who all made the case that she is the best person to be the nation's leader.

Photos: 2024 Democratic National Convention

Latest headlines:

• Aug 22, 2024, 11:15 PM EDT 'America let us show each other and the world who we are'
• Aug 22, 2024, 11:09 PM EDT Harris calls for cease-fire deal, says Israel must be able to defend itself
• Aug 22, 2024, 11:05 PM EDT Harris vows to sign border bill that Trump derailed
• Aug 22, 2024, 11:41 PM EDT Harris talking about one of her strongest issues: reproductive rights
• Aug 22, 2024, 10:55 PM EDT Harris pivots to attack on Trump: 'Unserious man' with 'serious' consequences

Obama reacts to Harris' DNC speech

Former President Barack Obama reacted to Kamala Harris’ DNC speech and shared a photo of the vice president on stage.

Harris "showed the world what I have known to be true. She is ready on day one to be President and represents the best of America. Let’s get to work," Obama posted on X .

Harris correct that Trump’s tariff proposal would act like a tax, but her estimated effects outpace independent analyses

Harris said Trump “intends to enact what in effect is a national sales tax —call it a Trump tax — that would raise prices on middle class families by almost $4,000 a year."

Trump has said that he would propose a 10% tariff on all non-domestic goods sold in the U.S. While tariffs are levied separately from taxes, economists say that much of their impact would be passed along to consumers, making them analogous to a tax.

Harris’ figure about how much it will cost families is higher than current estimates.

The American Action Forum, a center-right think tank, has projected additional costs per household of $1,700 to $2,350 annually. The Peterson Institute of International Economics, another Washington, D.C.-based think tank, projected that such tariffs would cost a middle-income household about $1,700 extra each year.

—PolitiFact's Louis Jacobson and Grace Abels

Excitement, but some disappointment

Harris jazzed up the crowd, but some attendees were sad about one notable no show.

“I’m so sad about Beyonce,” one attendee said.

Fact-checking Harris’ abortion attacks on Trump

Harris said, “As a part of his agenda, [Trump] and his allies would limit access to birth control, ban medication abortion, and enact a nationwide abortion ban, with or without Congress. And get this … He plans to create a national anti-abortion coordinator and force states to report on women's miscarriages and abortions.”

Most of the language in Harris’ claim stems from the policies in Project 2025. But it’s not all accurate. Project 2025 doesn’t call to ban abortion nationwide, though its recommendations could curtail some contraceptives and limit abortion access. In addition, what’s known about Trump’s abortion agenda doesn't line up with either Harris’ description or Project 2025’s wish list.

Project 2025 suggests that the Department of Health and Human Services Department should "return to being known as the Department of Life by explicitly rejecting the notion that abortion is health care."

The manual recommends that the Food and Drug Administration reverse its 2000 approval of mifepristone, the first pill taken in a two-drug regimen for a medication abortion, which is the most common form of abortion in the U.S. — accounting for around 63% of abortions in 2023. (In June, the U.S. Supreme Court rejected a legal challenge to mifepristone’s FDA approval over procedural grounds.)

If mifepristone were to remain approved, Project 2025 recommends new rules, such as cutting limits on its use from 10 weeks into pregnancy to seven and requiring that it be provided to patients in person — part of the group’s efforts to limit access to the drug by mail. It also calls for the Justice Department to enforce the 1873 Comstock Act, which bans the mailing of "obscene" materials, with respect to mifepristone. Abortion access supporters fear that a strict interpretation of the law could go further to ban mailing the materials used in procedural abortions, such as surgical instruments and equipment.

The plan proposes withholding federal money from states that don’t report to the Centers for Disease Control and Prevention how many abortions take place within their borders; would prohibit abortion providers, such as Planned Parenthood, from receiving Medicaid funds; and calls for the Department of Health and Human Services to ensure that the training of medical professionals, including doctors and nurses, omits abortion training.

The document says some forms of emergency contraception — particularly Ella, a pill that can be taken within five days of unprotected sex to prevent pregnancy — should be excluded from no-cost coverage. The Affordable Care Act requires most private health insurers to cover recommended preventive services, which involves a range of birth control methods, including emergency contraception.

As for how this all aligns with Trump's views, the former president recently said states should decide abortion regulations and that he wouldn’t block access to contraceptives. He said during his June 27 debate with Biden that he wouldn’t ban mifepristone after the Supreme Court "approved" it. But the court rejected the lawsuit based on standing, not the case’s merits. He has not weighed in on the Comstock Act or said whether he supports it being used to block abortion medication, or other kinds of abortions.

—PolitiFact’s Samantha Putterman and Aaron Sharockman

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assignment of future salary

Future salary calculator.

What is future salary, how to calculate my future salary.

With this future salary calculator, we aim to help you estimate the amount of salary you might get in the future . Please also check out our salary calculator to understand more.

We have written this article to help you understand what future salary is and how to calculate the expected future salary . We will also demonstrate some examples to help you understand the calculations.

In today's rapidly changing job market, it is becoming increasingly important for individuals to plan their financial futures. One way to do this is to calculate future salary. Future salary is the estimated amount of money an individual can expect to earn in the future, based on their current salary and projected salary increases .

While calculating future salary can be helpful for financial planning, it is important to remember that these estimates are just that — estimates. Many factors can impact an individual's earning potential, and it is impossible to predict the future with complete accuracy. However, by considering the factors discussed above and regularly reassessing your financial situation, you can make informed decisions about your career and financial future.

To understand the future salary calculation, or calculate your salary increase, let's look at Carrie as an example:

• Current salary: $50,000;
• Average salary change per year: 5%; and
• Number of years being estimated: 10 years.

You can calculate your salary increase or your future salary in four steps:

Determine your current salary:

The first step is to calculate your current salary. This is the annual salary that you are currently getting paid.

Carrie's current salary is $50,000 .

Compute the average salary change per year:

Next, you need to compute your average salary change per year. This is totally based on your assumptions.

Factors affecting this includes previous salary increases, job performance, promotion, inflation, etc. Check out our salary inflation calculator for more information.

Carrie calculated her average yearly salary increase to be 5% . You can use the percentage increase calculator to help you with this calculation.

Determine the number of years you want to estimate:

Now you can choose the `number of years you want to estimate.

In our example, Carrie would like to know her future salary in 10 years .

Calculate the future salary:

The last step is to calculate the future salary using the formula below:

future salary = current salary × (1 + average salary change) ^ number of years .

Carrie's future salary will be:

$50,000 × (1 + 5%)^10 = $81,444.73

Our future salary calculator also helps you calculate your real future salary, which considers the future inflation rate.

You can calculate the real future salary using this formula:

real future salary = future salary x (1 - average inflation rate) ^ number of years .

Assuming an average inflation rate of 3% , Carrie's real future salary is:

$81,444.73 x (1 - 3%)^10 = $60,059.31

Why is it important to calculate future salary?

Calculating future salary is vital for financial planning , as it can help individuals make informed decisions about their career and financial future . By estimating their potential earnings, individuals can create a plan for saving, investing, and achieving their financial goals.

What is my future salary if my current salary is $70,000?

Assuming your current salary will increase by 5% per year for 10 years, your future salary will be $114,022.62 . You can calculate by using the future salary formula:

How can I calculate my future salary?

You can calculate your future salary in four steps:

Determine your current salary .

Compute the average salary change per year .

Determine the number of years you want to estimate .

Apply the future salary formula:

What factors are important to consider when calculating future salary?

Important factors to consider when calculating future salary include job performance , industry trends , cost of living adjustments , inflation rates , and projected salary increases .

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Future Salary Calculator – Estimate Your Earnings

This tool calculates your future salary based on your current salary, expected raise percentage, and time span.

This calculator helps you estimate your future salary based on your current salary, expected annual raise percentage, and the number of years you want to calculate for.

How to Use:

• Enter your current salary in the “Current Salary” field.
• Enter the annual raise percentage you expect in the “Annual Raise Percentage” field.
• Enter the number of years for which you want the calculation in the “Number of Years” field.
• Press the “Calculate” button.
• The result will be displayed in the “Result” field.

Explanation:

The calculator works by taking your current salary and increasing it each year by the percentage you specify. It repeats this process for the number of years you enter. The formula used is:

Future Salary = Current Salary * (1 + Annual Raise Percentage / 100) ^ Number of Years

Limitations:

• The calculation assumes the raise percentage is constant every year.
• It does not account for taxes, bonuses, or other financial variables.
• Always consult a financial advisor for comprehensive financial planning.

Use Cases for This Calculator

Calculate your future salary use cases:.

1. Basic Salary Projection: You can input your current salary, expected annual increase rate, and years in the future to estimate your future salary. This use case helps in planning your financial growth over time.

2. Comparison with Inflation: By entering your projected salary and the inflation rate, you can see your future salary adjusted for inflation. This comparison gives you a realistic view of your purchasing power in the future.

3. Multiple Income Sources: If you have multiple income sources, you can calculate the total future income by inputting each income amount, increase rate, and time frame. This feature assists in comprehensive financial planning.

4. Retirement Savings Target: Determine the future salary needed for retirement by specifying your desired retirement age, years in retirement, and income replacement ratio. This use case aids in setting realistic retirement savings goals.

5. Customized Income Growth: Tailor your income growth projection by inputting different increase rates for specific periods. This feature allows you to account for promotions, bonuses, or career changes over time.

6. Visualize Salary Growth: View a graph illustrating your projected salary growth over the years based on your inputs. This visual representation helps you understand the trajectory of your income and plan accordingly.

7. Education and Career Advancement: Estimate the impact of further education or career advancement on your future salary by adjusting the growth rate accordingly. This use case enables you to make informed decisions about investing in your professional development.

8. Family Income Planning: Plan your family’s future income by including multiple earners’ details to calculate the total household income projection. This functionality assists in creating a holistic financial strategy for your family.

9. Tax Implications: Factor in estimated tax rates for different future income levels to understand the impact of taxes on your take-home pay. This use case helps you consider tax planning in your financial projections.

10. Scenario Analysis: Create different salary growth scenarios by adjusting various parameters to compare outcomes and make well-informed decisions. This feature empowers you to analyze different financial paths and choose the most suitable one.

Other Resources and Tools

• Future Value Of Annuity Calculator – Estimate Your Earnings
• Salary to Hourly Calculator: Convert Your Earnings with Ease
• Robert Half Salary Calculator: Accurate Salary Estimates
• Retirement Calculator: Estimate Your Savings & Plan for the Future
• Retained Earnings Calculator – Calculate Earnings

Our interactive Future Salary Calculator is designed to provide you with a customized estimate of your future earnings based on your current salary, annual salary increase, and the number of years you want to track. It breaks down these projected earnings into yearly, quarterly, monthly, semi-monthly, bi-weekly, and weekly income, offering a detailed picture of your financial trajectory.

Use this calculator to project your salary growth over time based on your current salary and your expected annual increase rate. Enter your current salary, your expected yearly increase in percentage, and the number of years you want to look ahead.

How to Use the Future Salary Calculator

• Current Salary ($): Enter your current annual salary in the corresponding field.
• Salary Increase per Year (%): Enter the expected percentage increase in your salary each year.
• Number of Years: Indicate the number of years you wish to project your salary into the future.
• Click the Calculate button to see your salary progression.

A table will then appear, presenting your salary progression over the number of years specified.

Understanding and Increasing Your Salary

When it comes to managing your career and financial growth, it’s crucial to understand how salary increases work and how you can influence them.

On average, employees can expect a 3% salary increase annually, though this varies widely by industry, role, and individual performance. Salary increases typically occur during an annual review process, though they may also result from a promotion or successful salary negotiation.

Tips for Increasing Your Salary

• Negotiate your salary: Whether you’re starting a new job or discussing a raise in your current position, negotiation is key. It’s normal and expected for you to negotiate your salary. Prepare for this by researching industry standards and making a case for your value to the company.
• Regularly review your salary: Don’t wait for your annual review. Regularly check market rates for your role to ensure you’re getting paid fairly, and raise any disparities with your manager or HR.
• Continue your professional development: Higher qualifications, new skills, and broadened experiences often lead to higher pay. Consider upskilling, gaining relevant certifications, or pursuing further education to increase your value in the job market.
• Consider a job change: If your current role or organization has limited growth opportunities, it might be time to look for a new role. Changing jobs can often lead to a significant salary bump.

Remember, our Salary Progression Calculator is a tool that can assist you in planning and negotiating your career path. However, it should be used as a guide rather than a definitive predictor of your future earnings. Always consider your personal circumstances and consult with a financial advisor when making significant financial decisions.

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More From Forbes

How to answer “what are your salary expectations” in 2024.

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Your unique expertise and skill set play a major role in determining which end of the pay range you ... [+] are likely to fall in

You've applied for your dream remote job and you've performed exceptionally well throughout the interview.

You've demonstrated to the interviewer and hiring manager that you're the perfect fit for the role.

And it worked! They're convinced that you're just the candidate they need. There's just one final question left...the question that fills us all with dread:

"What are your salary expectations for this role?"

This question can make or break your career...at least at this point. You're worried that if you suggest too little, you might be underselling your skills and cheating yourself out of a potentially lucrative salary.

But if you announce that you're expecting the highest end of the pay range, it might be too high for their budget, and worse, they might see you as out of their league and not offer you the job altogether.

So, what should you do?

Here is a step-by-step guide on how to approach this sensitive issue:

Best High-Yield Savings Accounts Of 2024

Best 5% interest savings accounts of 2024, 1. understand why they're asking "what are your salary expectations".

First things first. You need to know why the interviewer—whether hiring manager or recruiter—is posing this question. It might sound obvious, but one reason they are likely to ask this question is because they are trying to assess your value, and one way to do that is to see what estimate you would place on your monetary value as relates to the job market. They are testing your level of experience and what expertise and value you would offer to their organization.

While they may provide a pay range when advertizing the role, it is likely that they will negotiate the salary according to various factors based on your experience and skills.

If you only have a two years of experience, for example, it's best to go for the lower end of the range. With more years of experience you can increase your salary expectations in line with the middle of the range, where it feels comfortable enough for you.

Another reason a hiring manager would ask this is because they are working with a budget. They need to ensure that the pay you're asking for, falls within that budget realistically.

Use salary calculators and your previous role as a benchmark for pay expectations in your industry, ... [+] role, and location

2. Do Your Homework

Rather than leaving up to luck or chance, undertake due diligence and do your research of the job market and the salary expectations for your industry and specific role, including your seniority level.

You should even consider factors such as the city or state you reside in, or the city and state the employer is hiring from, as these can greatly impact average salary ranges, causing them to plummet or rise sharply due to greater demand or higher cost of living in certain locations. Even if you are applying for a remote job, location should still eb considered when it comes to salary ranges.

Excellent sources of average pay range information include salary calculators such as ZipRecruiter, Salary.com, Glassdoor, and Indeed. These may also provide you with information on expected pay ranges at the specific employer you are interviewing with. This helps with pay transparency on their part, and enables you to ensure that you are not being discriminated against due to personal characteristics such as age, race, or gender.

3. Assess Your Value

To assess your salary value, it might be helpful to use your last role (if it was in the same field or industry) as a benchmark. You might be comfortable asking for the same salary as the one you had previously, or you could demand higher pay—but it's important to know why you deserve to be paid more.

Do you have a unique skill set that you can provide which is of high value to the new employer? Have you upskilled and completed certifications or a master's degree since then? Was the last employer paying you unfairly, below the average range for someone with your experience and skill set? Did you acquire a significant breadth of expertise and accomplishments in your last job that justify your new salary expectations? Make a note of all these factors.

Always provide a range; never tie yourself down to a fixed number when negotiating salary

4. Provide A Range, Not A Fixed Number

When answering "What are your salary expectations?" it's important that you answer with a salary range, not a fixed number. It's similar to what happens when you ask someone a closed question versus an open-ended question.

Providing a fixed number (i.e., $90,000) gives room for the employer to outright say no, and there is limited scope to explore further. You might also end up cheating yourself out of higher pay, if the employer was willing to pay more. However, if you give them a range (say $90,000 to $95,000) they have some room to work with and can even offer you more than what you initially expected.

As a general rule, aim to provide a range that varies no more than $5,000 to $10,000. Additionally, it would be good practice to ensure that your desired fixed number is at the bottom of the range. Start from there, then add $5,000 to $10,000 as your maximum for the range.

So for example, if you want to be paid $90,000, start your range from that figure and end at $95,000 or $100,000. This ensures you never get paid any less than your minimum expectation.

While sharing your range, be sure that you make it clear that you're happy to negotiate and discuss further. You might also use this as an opportunity to say that you're OK with reconsidering your salary range if the right benefits and total compensation package was in place.

This perfectly segues into my next point:

5. Consider The Entire Compensation Package

Last but not least, remember to take the entire compensation package into consideration. Think about other benefits that you would potentially be willing to sacrifice part of your salary for if needed. What benefits matter the most to you? Healthcare? Stock options? Bonuses? Remote work? Learning and development or work-from-home office stipend? Factor these into your salary negotiation with the hiring manager.

Occasionally, the hiring manager might say, "We will revisit this later, according to your performance in the role." In this case, if you feel comfortable with everything else and there are no red flags, go for it—but be sure to confirm in writing when exactly your pay will be reviewed for a potential increase. Have a transparent discussion to understand what the expectations are for you in your first 90 days, six months, and one year into the role, and what the criteria is for increased pay at your pay review.

Salary is only on part of compensation, so don't forget to consider the bigger picture

Following these five steps will help you answer "What are your salary expectations?" confidently and positively, aligning you with a remote job (or otherwise) that reflects your true worth.

You'll never need to worry about this question again.

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Salary Increase Justification Examples

In today’s competitive job market, securing a salary increase requires more than just a good work ethic and dedication.

Salary increases that matter, demand a strategic, carefully thought out approach grounded in market research, quantifiable achievements, and a clear understanding of your value to the company.

This guide offers you concrete, actionable strategies to justify your salary increase, not matter what you are getting paid right now.

Before You Begin

Do thorough research on what you’re actually worth. You don’t want to go into negotiations ignorant, make laughable requests, or shortchange yourself.

Understanding your market value is the foundation of a successful salary negotiation. Utilize resources like Glassdoor , Payscale , and industry reports to see the typical compensation for your role and experience level (years of experience with the title, as well as years in the industry).

Now… Assuming you know the number (or range) that you want, let’s go over both mainstream as well as Insider justifications for a higher salary.

Mainstream Justifications

Mainstream justifications can be effective, especially if your manager or HR department values these conventional reasons. However, these techniques often lack the leverage needed to forcefully negotiate a raise. They present a better case for your employer to consider but don’t inherently compel action.

You need to understand these mainstream justifications if you’re going to play the salary game well, so we’re going to cover them:

Loyalty is an outdated bargaining chip in today’s job market. See “ Why Loyalty to Your Job Is Dead and What to Do About It ” for more details.

The short of it is: Many employers no longer see loyalty as a significant factor in salary decisions. It falls flat because it doesn’t demonstrate how you add substantial value to the company.

Example : “I have been loyal to the company for years and have consistently met all expectations.”

Counterpoint : Loyalty alone does not justify a raise. What truly matters is your measurable contributions and market value.

Evolved Version : “I have been loyal to the company for years, consistently supporting our team and company, which has built a strong foundation of trust. I’ve kept and continue to keep the team together.”

You’re Reliable

Being reliable is essential, but it’s the bare minimum expected from any employee. This is like taking credit for breathing or showing up to work on time.

Example : “I consistently meet all deadlines and maintain a high level of reliability.”

Counterpoint : Reliability is expected. It’s the baseline for job performance, not a reason for additional compensation.

Evolved Version : “I consistently meet all deadlines and am very reliable. I help create a dependable work environment. Our department exceeded its targets by 15% over the past year because we are reliable.”

You Show Initiative

Taking initiative is commendable, but it needs to be tied to significant outcomes to justify a salary increase. Employers need initiative that leads to tangible contributions to the company’s success.

Example : “I proactively take on new projects and responsibilities.”

Counterpoint : Initiative is important, but it must translate into measurable results to justify a salary increase.

Evolved Version: “I take on new projects and responsibilities proactively. Remember, I lead the recent product launch that exceeded sales expectations by 25%.”

You Developed New Skills

Learning new skills is valuable, but the impact of these skills on the company’s bottom line is what matters most. It’s crucial to show how your new skills have directly benefited your team or department.

Example : “I have learned new skills that are valuable to the team.”

Counterpoint : New skills are beneficial, but their impact on the company’s bottom line is what truly matters.

Evolved Version : “I learned advanced data analysis, which I used to identify cost-saving opportunities that have saved the company $50,000 last year.”

You Mentor & Train Other Employees

Mentorship and training are valuable for team development, but it needs to be linked to improved performance and efficiency within the team. Highlighting specific instances where your mentorship has led to tangible results can strengthen your case.

Example : “I mentor new team members and help them get up to speed quickly.”

Counterpoint : Mentorship is valuable, but it should be tied to improved team performance and efficiency.

Evolved Version : “I mentor new team members and help them get up to speed quickly. Our onboarding time is down by 30% because of my mentorship.”

You Have a Positive Attitude

This is not a standalone reason for a raise. It’s important to combine this with concrete examples of how your attitude has positively impacted your work and the team.

Example : “I maintain a positive attitude and contribute to a good work environment.”

Counterpoint : A positive attitude is beneficial but insufficient as a standalone justification for a raise.

Evolved Version : “My positive attitude builds a culture of collaboration and positivity. This enhances team morale. We have very low attrition don’t we? It’s because of our culture, which I helped build.”

Your Contribution to Positive Changes

Being part of initiatives that bring positive changes is a strong point, but it needs to be supported by specific outcomes. General statements about contributions are less persuasive than detailed accounts of your impact.

Example : “I have been part of initiatives that brought positive changes to the company.”

Counterpoint : What do you mean by that? Specify the changes and quantify their impact to strengthen your case.

Evolved Version : “I have been part of important initiatives, such as streamlining our supply chain. This improved our delivery times by 20%.”

You’ve Been with the Organization for a Long Time

Long tenure can be a factor, but it’s the accomplishments and improvements during this period that matter. Highlighting key achievements over the years can make this argument more compelling.

Example : “I have been with the company for several years.”

Counterpoint : Tenure alone doesn’t justify a raise. Highlight achievements during this period.

Evolved Version : “I have been with the company for several years now, and I’ve always managed to beat my targets. Plus, I’ve been a big help on some important projects that really boosted our revenue.”

You Consistently Meet Client Needs

Meeting client needs is an essential part of your job, basic expectations. To use this as a justification, you need to show how your efforts have led to exceptional client satisfaction and retention.

Example : “I always meet client needs and exceed their expectations.”

Counterpoint : That’s your job. Focus on how you’ve driven client satisfaction and retention.

Evolved Version : “I always meet client needs and exceed their expectations. Our clients keep referring us for a reason – 15% increase in client referrals over the past year alone.”

Insider Justifications

Now that you know about the basic justifications most employees try to use, let’s get to the juicy part…

The following justifications are science-based and empirically demonstrated techniques that significantly increase the likelihood of securing a salary increase. They leverage power, negotiation techniques, and human psychology to create compelling arguments.

Quantifiable Achievements

Providing concrete evidence of your contributions through quantifiable achievements is highly persuasive. Whether it’s cost savings, increased revenue, or process improvements, numbers speak louder than words. Always have evidence to back up your claims. Concrete numbers speak volumes.

Example : “In the past year, I’ve saved the company $100,000 by optimizing our supply chain.”

Increased Responsibilities

Taking on additional responsibilities without a corresponding increase in pay is a strong argument for a raise. It’s essential to document these added duties. You need to either show these new responsibilities are valuable and lead to tangible outcomes, or that you’ve been asked to take on these responsibilities without a corresponding pay increase.

Example : “Since my promotion, I’ve taken on additional responsibilities including project management and team leadership.”

Market Research

Using market research to highlight discrepancies between your current compensation and the industry standard is a powerful tool. This approach shows that you’re informed and that your request is based on objective data. (Hint: Provide data from reputable sources.)

Example : “Based on current market research, [your title] makes a salary of $X, which is Y% higher than my current compensation.”

Professional Development

Continuous development and acquiring new certifications can significantly enhance your value. These not only make you more employable in the marketplace, but in some select cases, may come with organizational requirements to pay you more.

Remember: Skills and certifications alone don’t matter. Linking your new skills to your current role and demonstrating their impact is necessary.

Example : “I’ve recently completed a certification in [relevant field]. And I’m using what I learned every day. This is saving us money.”

Positive Feedback & Performance Evaluations

Leveraging positive feedback, especially when it comes in writing, can be very effective. Use specific points from your evaluations. Specific pays.

Example : “My recent performance evaluations have been excellent, specifically noting my leadership in [key project] and my ability to consistently exceed expectations.”

Company Performance

When the company is performing well financially, it’s an opportune time to request a salary increase. Aligning your request with the company’s success demonstrates your awareness of the business environment as well.

Example : “With how well the company’s been doing financially lately, I think it’s fair to talk about my pay.”

Prepare for Objections

Of course, nothing comes easy… You are likely to get pushback when you ask for more pay.

Which is why, anticipating objections is a critical part of preparing for a salary increase discussion.

You should know that most employers have standard responses to salary requests, and being ready to address these objections can significantly strengthen your position.

It’s Not in the Budget

Budget constraints are a common objection. The easiest option is to suggest alternative forms of compensation. A more nuanced approach is to get a future commitment, so that your request gets cemented in the next budget cycle.

Counter 1: Alternative Compensation

“I understand budget constraints, but my work improved our bottom line by [specific amount]. Perhaps we can discuss alternative compensation like bonuses, stock options, or additional vacation days.”

Counter 2: Future Commitment

“I appreciate the current budget constraints. Can we set a timeline to revisit this discussion during the next budget cycle? In the meantime, a written commitment for a future salary review would acknowledge my contributions.”

You’d Be Making More Than Others in Your Department

This is about equity and not a legitimate objection, even though many people may feel that it is.

Emphasize your unique contributions and increased responsibilities. You can also highlight the fact that equity does not have a place in a capitalist framework, where merit and contribution drive the exchange of money.

Counter 1: Capitalism

“I understand the idea of fairness, but it doesn’t quite capture everything. I’ve been taking on more and doing a lot around here. In a capitalist system where what you bring to the table matters, it’s important to recognize that and adjust my salary accordingly.”

Counter 2: My Role Is Different

“My workload and responsibilities have really grown. I think it’s time we talked about adjusting my pay to match what I’m doing now, not just what I used to do.”

There Are Some Performance Improvement Areas You Need to Work On

This objection is basically: “Hold on there tiger… We need you to get some things done for us first.”

It can be addressed by acknowledging the feedback and committing to improvement. Keep in mind, if you received this objection you are unlikely to change their opinion on the spot. Therefore, it’s a more strategic approach to defer the conversation, and set up an environment where you can use their performance improvement request as ammunition.

Counter : “I’m committed to improving and have already taken steps to address these areas. Can we set specific goals and revisit this discussion in three months?”

We’re in a Hiring Freeze

A hiring freeze doesn’t necessarily mean salary increases are off the table. Highlight your value and potential cost savings from retaining experienced staff. When responding to this, however, make sure that it doesn’t sound like “I’ll leave if you don’t pay me”.

Counter : “I get why there’s a hiring freeze, but it’s important to invest in the people already here. With all the extra work I’m doing and the impact I’m making, it’s only fair to talk about adjusting my compensation.”

The Timing Isn’t Right

They might be giving this to you as a delay tactic, or they may have some legitimate concerns.

Counter 1: Address Timing Concerns

“I understand timing is crucial. Could you give me more details on why this timing might not be ideal? Knowing the constraints will help me better understand and address any concerns, making sure my request is timed appropriately.”

Counter 2: Future Delay

“Can we set a date in the near future to revisit this conversation? I’d like to ensure my contributions are fairly recognized and that we have the opportunity to discuss this at a more opportune time.”

We Need to See Sustained Performance

If sustained performance is a requirement, you need to make sure that this is an actual legitimate requirement rather than a red herring. Get specific. What do they mean by sustained performance?

Once you understand their position, be sure to establish a timeframe for you to demonstrate the sustained performance they are asking for.

Counter: Define Clear Performance Metrics

“Got it.. Can we set some clear performance metrics or goals and a timeline? That way, I know exactly what’s expected, and we can track my progress together. Once we’ve hit those markers, we can circle back and chat about that salary adjustment.”

Avoid at All Costs

Certain behaviors and approaches can undermine your credibility and weaken your position. By avoiding these pitfalls, you can ensure that your request for a salary adjustment is taken seriously and approached with the respect it deserves.

Never Discuss the Reason for Needing More Money

Focus on your professional contributions and market value, not personal financial needs. Personal reasons can undermine your professionalism and weaken your negotiation position.

Never Act as Though You Are Owed a Raise

Approach the conversation professionally, emphasizing your value to the company. Entitlement can be off-putting and counterproductive. People dislike entitled people, and entitlement does not come across as confident, and instead, appears as arrogant.

Avoid Being Unprofessional or Getting Emotional

Maintain a calm, collected demeanor to keep the discussion productive. Emotional arguments can detract from your main points and make negotiations more challenging.

One of the best ways you can maintain your professionalism is to prepare for the conversation. While sending a salary request via email might seem like a convenient option, it’s not. Typically, the email will prompt a follow-up conversation where you’ll need to talk to them anyway.

In other words, you have to get good at having uncomfortable conversations and a professional and detached manner. One of the most effective preparation methods is to have mock conversations with a trusted friend or coach. (See our events for more details).

Master Your Timing

Choosing the right moment to ask can significantly impact the outcome of your discussion.

When to Ask for a Salary Increase

• Strategic Company Milestones : Identify important company milestones, such as the launch of a new product or expansion into a new market. Hit them when they are in an emotional high, during moments of significant organizational achievement.
• Company in Good Financial Health : Request a salary increase when the company is experiencing positive financial growth, such as after a successful quarter or fiscal year. (Following good quarterly earnings calls)
• Performance Review Cycles : Capitalize on performance reviews to discuss your salary; they are already expecting some pay discussions during this time. They may not bring it up, but you can and should.
• Personal Milestones : Use personal milestones, such as completing a challenging certification or successfully leading a high-impact project. Ask for more, when your value is obvious and top of their mind.
• Boss’s Personal Milestones : Seize upon your boss’s personal milestones, such as completing a challenging certification or leading a high-impact project. These occasions offer a unique opportunity to leverage their positive emotions and sense of accomplishment. 
• After Industry Recognition : Leverage industry recognition, such as receiving awards or accolades for your work (personal work or team recognition, they both work).
• Before Key Negotiation Periods : Request a salary increase before entering into negotiations for new projects or responsibilities. Approach from a position of strength – especially when they need you to succeed in this new initiative. Be very clear in underscoring the value you bring to the table. Remember: Specific, tangible, concrete, and measurable.

When Not to Ask for a Salary Increase

• Company Instability : Avoid requesting a raise during times of company instability, such as major restructuring, leadership changes, or mergers/acquisitions. These create uncertainty within the organization, and have a detrimental psychological impact on decision makers. Even if they want to, they may not be able to commit.
• Layoffs : Refrain from seeking a salary increase when the company is undergoing layoffs, as it may be perceived as insensitive and poorly timed.
• Budget Cuts : Don’t request a raise during periods of budget cuts. It likely won’t work, as they have the “budget cuts” excuse. Yes, although you now know how to handle this objection through our method above – it’s still preferable to avoid any objections altogether from being raised. Moreover, asking for a raise during budget cuts can also be seen as opportunistic and may harm your reputation.
• After Personal Setbacks : Refrain from requesting a salary increase immediately following personal setbacks or failures. 
• Before Key Performance Evaluations : Exercise caution when seeking a salary increase just before performance evaluations or when your performance may be under scrutiny. You don’t know what they think about you yet. You need to find out what they think first.
• In the Absence of Leverage : Avoid requesting a salary increase without sufficient leverage or compelling justification. Without a strong bargaining position or clear demonstration of your value to the company, your request is unlikely to be taken seriously and may backfire, jeopardizing your future opportunities.

Final 5 Tips

• Always Speak in Ranges : Provide a salary range to allow for negotiation flexibility. This approach shows that you’re open to discussion and not rigid.
• Emphasize Your Future Value: Highlight how your future contributions will benefit the company. The promise of money is sweeter than a memory of it.
• Be Confident: Confidence in your value and contributions is crucial. You need to believe in yourself. Believing in yourself makes your argument more persuasive.
• Show What’s in It for Them: Always frame your request in terms of benefits to the company and your manager. 
• Itemize Your Recent Accomplishments : Prepare a list of your significant achievements, especially from the past six to twelve months. Specific, documented successes provide concrete evidence of your value and make your case stronger. (Hint: have at least 3, as people think in 3s)

Asking for more money is simple. Getting more money because you ask is an art.

By leveraging power dynamics, negotiation techniques, and human psychology, you can build a compelling case that goes beyond conventional justifications.

Remember: most people just follow toothless advice and repeat what they heard from others without truly understanding how the corporate game really works. Ironically, Human Resources has made a fully fledged discipline out of diffusing, rejecting, and controlling the typical approach from the typical employee.

Having a solid, material, and powerful justification for your pay is crucial not only for grabbing that raise, but also for maintaining your job security and title growth.

Ultimately, understanding how corporations think, and being able to differentiate between “ what they say ” and “ what they do “, is one of the key ingredients to getting compensation that others might consider unreasonably high.

Ask and you shall receive!

You just need to know how to ask…

How to Write a Salary Increase Letter (Example Included!)

Negotiating your salary can be a key step in advancing your career and boosting your financial stability—but it can also be pretty intimidating. The good news is that with the right approach, it doesn’t have to be so scary. That's where a salary increase letter comes in.

Whether you're asking for a raise due to your great performance, increased responsibilities, or changes in the market, a well-crafted letter asking for salary increment can be a powerful (and smooth) way to make your case.

In this article, we'll walk you through everything you need to know about writing a salary increase letter, from understanding its purpose to tips on crafting an effective one. We'll also include sample letters and templates to help you get started. Plus, we’ve interviewed Muse career coach Jenn Smith , who shares her top advice on navigating this critical career move.

Need a higher salary? Check out open jobs on The Muse for your next big move »

What is a salary increase letter?

A salary increase letter is a formal document that employees use to request a raise from their employer. Unlike a salary review letter—which is typically initiated by the employer to communicate pay adjustments—a salary increase letter is written by the employee seeking a boost in compensation.

Writing a salary increase letter can be necessary for several reasons:

• Performance improvements : You've consistently exceeded your performance goals or achieved a significant milestone and believe your contributions are worth a higher salary.
• Increased responsibilities : Your role has expanded significantly, and your current salary no longer reflects the scope of your responsibilities.
• Market adjustments : Industry standards and market rates for your position have increased, and your current salary needs to catch up to these benchmarks.

When writing a letter to request a salary increase, it's generally more effective to address it to your direct manager or your department’s director rather than HR. Your manager is more familiar with your work, contributions, and the value you bring to the team. They are also likely involved in budget decisions and have the authority to advocate for your raise.

Is it OK to ask for a raise through a salary increase letter?

Yes, writing a salary increase letter can be a formal and respectful way to request a raise. It allows you to clearly articulate your reasons, provide evidence of your achievements , and give your employer time to consider your request. Plus, a letter is a documented record of your request and can be reviewed by decision-makers at different levels of the organization.

On the other hand, having an in-person conversation can be generally more effective. “This allows you to present your case dynamically, outlining your accomplishments, contributions, and the value you bring, and respond to questions or concerns in real-time,” Smith says, adding that a direct conversation also allows for immediate feedback. “Your manager can provide insights into decision-making, share any constraints or considerations, and offer guidance.”

She also believes it’s a good idea to supplement your conversation with a follow-up email to ensure clarity and provide a reference for future discussions.

How to write a salary increase letter

These tips will prepare you for writing an effective pay raise letter:

1. Research salary benchmarks

Conducting extensive research will strengthen your case and help you present a compelling argument.

“Research industry salary benchmarks for your role, experience level, and geographic location,” Smiths says. “Use reliable sources like industry salary surveys, compensation reports, and online salary databases.”

Additionally, be sure to understand your company's salary ranges, performance evaluation criteria, and typical raise percentages.

2. Choose the right time

Timing is crucial when it comes to writing a letter requesting pay increase. Making your request at the wrong time can significantly reduce your chances of success.

“Typically, organizations have annual or semiannual performance review cycles,” Smiths says. “Discuss this with your manager before the performance review process starts so they can consider it as they begin budget conversations.”

One common mistake she sees is “asking for a raise at an inappropriate time, such as during a company's financial downturn or immediately after a major organizational change or layoffs.” Avoid doing that at all costs.

3. Keep it clear and straightforward

Begin your letter by setting the context for your request and remind your employer of your role within the company. Clearly state your position, tenure with the company, and the purpose of the letter.

4. Detail your contributions and impact

In the main section of your letter, outline your accomplishments and contributions to the company. Highlight specific achievements, projects, or responsibilities that demonstrate your value.

Provide evidence of your impact, such as performance metrics, positive feedback from clients or colleagues, and examples of how your work has benefited the company, explaining how your contributions justify the proposed raise.

5. Conclude with gratitude and reaffirmation

Summarize your key points and reiterate your appreciation for the opportunity to discuss your compensation. Express gratitude for the support and experiences you have gained and reiterate your commitment to the company. This positive tone reinforces your professionalism and leaves a lasting impression.

Salary increase request letter example

Here’s a sample letter for salary increase request to show you how these tips can be put into practice:

Alex Johnson 123 Elm Street Springfield, IL 62704 [email protected] July 25, 2024

Emma Thompson Director of Sales Innovative Tech Solutions 456 Maple Avenue Springfield, IL 62704

Dear Ms. Thompson,

I hope you are well. I am writing to formally request a review of my current salary. I have thoroughly enjoyed working at Innovative Tech Solutions over the past three years and appreciate the opportunities for growth and development that have been provided to me.

During my time here, I have consistently exceeded expectations and made significant contributions to the Sales team. For example, I spearheaded a new email marketing campaign that increased sales by 15% and successfully launched our new TechY product line, resulting in a 20% revenue boost.

In addition to my core responsibilities, I have taken on new challenges, such as leading the training program for new sales representatives and managing key client accounts, which have significantly contributed to our team's success.

I have also undertaken several professional development activities, including completing a certification in Advanced Sales Strategies and attending workshops on market trends, which have further enhanced my skills and ability to contribute to our team.

Based on my research of industry standards and salary benchmarks for my role and experience level, I believe that an adjustment in my compensation is warranted. Therefore, I respectfully request a salary increase to $85,000. This adjustment would better reflect the value I bring to the team and align my compensation with industry standards.

I am confident this increase will further motivate me to continue delivering high-quality work and contributing to the success of Innovative Tech Solutions. I am more than willing to discuss this request in person and provide any additional information that may be required.

Thank you for considering my request and for your ongoing support.

Sincerely, Alex Johnson

Raise request letter template

Now, here's a template for a raise request letter to help guide you in drafting your own:

[Your Name] [Your Address] [Email Address] [Date]

[Recipient’s Name] [Recipient’s Title] [Company’s Name] [Company’s Address]

Dear [recipient’s name],

I hope you are well. I am writing to formally request a review of my current salary. I have thoroughly enjoyed working at [Company’s Name] over the past [number] years and appreciate the opportunities for growth and development that have been provided to me.

During my time here, I have consistently exceeded expectations and made significant contributions to the [Department] team. For example, I [List your accomplishments, using quantifiable results whenever possible, such as increased sales by 15% through a new email marketing campaign; successfully launched a new product line, resulting in a 20% revenue increase; etc.].

In addition to my core responsibilities, I have taken on new challenges, such as [List additional responsibilities].

In addition to these accomplishments, I have undertaken several professional development activities, including [certifications, courses, and training programs], which have further enhanced my skills and ability to contribute to our team.

Based on my research of industry standards and salary benchmarks for my role and experience level, I believe that an adjustment in my compensation is warranted. Therefore, I respectfully request a salary increase to [desired salary or salary range]. This adjustment would better reflect the value I bring to the team and align my compensation with industry standards.

I am confident this increase will further motivate me to continue delivering high-quality work and contributing to the success of [Company Name]. I am more than willing to discuss this request in person and provide any additional information that may be required.

Sincerely, [Your name]

How often should I make a salary raise proposal ?

Typically, you should ask for a raise once a year, ideally around your annual performance review. If you have taken on significant additional responsibilities or have had exceptional achievements, it might be appropriate to request a salary review sooner. However, be mindful of your company's financial health and the timing of your request.

Should I wait for a performance review?

Waiting for a performance review is often a good strategy, as this is a natural time for salary discussions. However, if you feel that your contributions have significantly outpaced your current compensation, you might consider requesting a meeting outside of the review cycle. Just ensure your request is well-timed and substantiated.

What if the salary increase request is denied?

If a salary review is denied, consider asking for specific feedback. “Work with your manager to set clear goals—create a development plan that outlines the steps you need to receive a raise,” Smith says. “Consider discussing alternative forms of compensation, which could include bonuses, additional vacation days, flexible working arrangements, and professional development opportunities.”

Key takeaways

Whether you opt for a formal letter via email , a direct conversation, or a combination of both, the key is to present a well-reasoned case for your increased-salary request. When crafting your letter, keep these takeaways in mind:

• Avoid approaching the conversation with an aggressive or entitled attitude. Politeness and professionalism will help you make a positive impression.
• Document any professional development activities you've undertaken , such as certifications, courses, training programs, or conferences. This shows your commitment to growing within your role and adds weight to your request.
• Be confident in your request to demonstrate your self-assurance and understanding of your worth. Clearly state your desired salary or salary range and show you are informed about salary ranges for your position.
• Explain how a salary increase will help you contribute even more to the company's success. Position your request as a mutually beneficial arrangement that will enhance your productivity and the value you bring to the organization.
• Use clear and concise language, avoiding jargon or overly complex sentences. Ensure your message is easily understood and directly addresses your key points. After writing it, don’t forget to proofread it.

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U.S. Employers Forecast 3.5% Pay Increases in 2025, Payscale’s Salary Budget Survey Finds

• Actual pay increases in 2024 are 3.6% on average compared to 4% last year, indicating that annual raises are softening in a cooler labor market.
• While employees in science, engineering, and government will experience salary bumps over 4%, those who work in retail, customer service, and education will see smaller increases of just 3.1%.
• Organizations citing that their salary budgets have increased attribute it to continued competition for talent or labor shortages while those with reduced budgets claim to be offsetting prior wage increases as the leading reason. 

SEATTLE (July 31, 2024) — Today, Payscale Inc. , the leading provider of compensation data, software and services, released the results of its ninth annual Salary Budget Survey , a key resource for HR and compensation professionals determining pay increase strategies for the upcoming year. The survey results reveal that U.S.-based employers are budgeting for 3.5% raises for 2025. 

“Given the stabilization of inflation and the easing of labor market conditions, we’re seeing a slight reduction in planned salary increases for 2025, though figures are still above the 3% pre-pandemic baseline that employees have come to expect,” said Ruth Thomas, Chief, Research & Insights at Payscale. “When we zoom in on different industries and sectors, we observe that raises can vary by up to 1.4%, indicating that labor is in higher demand for some organizations.”

Key insights for 2025 pay increases:

Pay raise growth is on the decline — but slightly more people are set to receive one.

• Going into 2025, organizations are anticipating pay increases of 3.5% in the U.S. and 3.3% in Canada, a slight drop from actual raises this year. 
• So far in 2024, actual pay increases in the U.S. have averaged 3.6%, down from the 4% raises observed in 2023.
• Although pay increase rates are declining, 85% of employees will receive a base pay bump this year, compared to 83% last year.

Employees in certain industries will experience raises exceeding 4%, while those in other lines of work will barely surpass 3%.

• Government workers and those in the engineering and science fields can expect to see higher-than-average salary increases, averaging 4.5% and 4.2% respectively.
• Conversely, retail and customer service employees and those that work in education — including teachers — will see raises of just 3.1%, falling below the standard for most industries. 

While most salary increase budgets remain unchanged, organizations with higher and lower budgets both point to the economy as a main reason for the shift. 

• Just two in ten organizations anticipate a compensation budget that’s higher than last year’s, and even fewer are expecting a lower budget allocation. The majority of organizations (66%) expect budgets to stay the same.
• For those with higher budgets, increased competition for labor was the primary reason, followed by improved economic performance. For those with reduced salary budgets, outsized increases in years prior and concern about the economy were cited.

“Although perceptions of the current economy are mixed, organizations in a growth phase and those facing headwinds are competing for the same talent,” said Lexi Clarke, Chief People Officer at Payscale. “Employers must have a compensation strategy built on data to guide their salary increase budgets, or they risk losing top talent this budgeting cycle.”

The Salary Budget Survey collected pay increase budget projections directly from compensation professionals at 1,550 organizations in the U.S., Canada, and 14 other international locations between April and June 2024.

Payscale provides the Salary Budget Survey as a free data resource to help organizations get pay right. To download the entire report, which includes insightful analysis broken out across industry, revenue, company size, organization type, and geographic segments, visit Payscale.com .

About Payscale

As the industry leader in compensation management, Payscale is on a mission to help job seekers, employees, and businesses get pay right and to make sustainable fair pay a reality. Empowering more than 65% of the Fortune 100, Payscale provides a combination of diverse and dynamic data sources, experienced compensation services, and scalable software to enable organizations such as Angel City Football Club, Panasonic, Mars Global, eBay, American Airlines and PetSmart to make fair and appropriate pay decisions. 

Pay is powerful. To learn more, visit www.payscale.com . 

Contact: [email protected]  

Gain COMPfidence in your pay decisions with Payscale.

Compensation is the largest and highest priority HR challenge for companies in 2024, specifically balancing their budget with the demands of top talent.

Payscale is here to help. Talk to a compensation expert today to learn more.

• Over 8,600 organizations – including 50% of the Fortune 500 – partner with Payscale
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Managing your salary structure and pay ranges with confidence

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How to identify and measure whether your salary structure, ranges, and assignment of jobs to ranges might be misaligned..

With most companies using a formal salary structure, knowing how to administer and assess your salary structure is a critical skill for compensation professionals. Understanding what type of salary structure is right for your company is important. Making sure the design of the structure supports your compensation and talent strategy is paramount.

Once you have the right structure in place, you need to know how to keep track of it and when to adjust it. With the increased demand for pay transparency and employees asking to see ranges, it’s more important than ever that you proactively manage the effectiveness of your salary structure. Over time, all structures, and the assignment of jobs to ranges will need tweaking. Having in place a way to identify opportunities for improvement will help you head off major misalignment and disconnect.

What to look for

Regardless of the type of structure you have in place, it’s important to keep tabs on these 5 things:

• Difficulty recruiting: Compensation professionals, working with those in talent acquisition, will typically identify a portion of the salary range that aligns with the hiring range. When there is a disconnect, recruiters will have difficulty getting applicants to accept offers using these ranges. Keep in mind, this is only one possible reason for difficulty in recruiting. Pay is rarely the only reason offers aren’t accepted. If the difficulty is persistent, however, it’s something to look at.
• Distribution of employees in ranges Depending on the design of your salary ranges, you should have a certain expectation of how your population will fall within each range. With a traditional salary range, you would indicate a portion of the range for new hires and then progress up the range with more experienced employees. Does the makeup of your employee population — from those who are new in the role to those who are experienced — align with what you see in the overall positioning of employees in your ranges? Included in this observation would be whether you have employees above the maximum of the range or below the minimum, which we’ll talk about below.
• Out of range employees There are possibly valid reasons for employees to be below the minimum of the range or above the maximum of the range. However, to make your job easier, you should work to prevent those situations from happening. Employees below the range could mean that a job is aligned to the wrong salary range. Employees above the maximum of the range could mean the same, but it’s often an indicator of someone who has been in the job for a long time and has reached the maximum value of the job. While it’s ok, it’s worth keeping an eye on these situations and working with your teammates in HR to actively manage the situation. Another issue may come when employees in a certain location are out of range.
• Location or department placement: Look at individual departments or geographies. Track whether there are certain groups that are not following the distribution you would expect. For example, if employees in HR all fall in the lower quartile of their ranges with a compa-ratio of less than 80% (see more on compa-ratio below), you might have a problem either with how they are paid or how the jobs are assigned to ranges
• Promotion/development challenges: This all depends on your talent management strategy and connection to your compensation philosophy. The way you recognize employees achieving new skills or stepping into new roles should fit within your salary structure and ranges. If you are having trouble agreeing with managers and HR partners on off-cycle increase adjustments or promotions, then there might be a disconnect in what they are doing (or expecting) in terms of rewarding employees for taking on new responsibilities.

Another thing to watch for is how particular ethnicities, genders, or other protected classes are positioned within ranges. It’s important to always have an eye on pay equity — a bigger topic that requires its own article.

Overall structure adjustment

Basic math, along with inflation, dictates that you adjust your overall salary structure on some sort of regular interval.

Several times a year, Mercer asks companies about their plans for adjusting salary structures. In the most recent version of the Compensation Planning Survey , 74% of companies responded that they adjust their pay structures annually.

The same survey asks participants what adjustment they plan to make. Of the respondents who do plan to make a pay structure adjustment, the average adjustment is 2.9%, which follows the pattern of being a percentage point or so below the merit increase budget. However, keep in mind there is some variety in the responses both by employee segment (e.g., executive, professional, etc.) and by industry. Make sure you have a data source that will provide you with intel relevant to your industry.Useful metrics and formulas

Keeping your salary ranges and structures healthy is something you can automate by reporting on certain metrics regularly. A compensation management tool can make this an automated process. Even in a spreadsheet, once you’ve identified the metrics you want to watch and set up the formulas, it can become a fairly easy part of your compensation management responsibilities.

Here are a few useful formulas to get you started.

Salary Compression Ratio: This ratio measures the difference in pay between employees in different job levels or with different levels of experience. It helps identify potential issues of pay compression within an organization. The formula is:

Salary Compression Ratio = Average Salary of Higher-Level Employees / Average Salary of Lower-Level Employees

Salary Range Penetration: This ratio assesses how employees' salaries compare to the salary range for their respective positions. It helps determine if employees' salaries are within the appropriate range. The formula is

Salary Range Penetration = (Employee's Salary - Minimum Salary of the Range) / (Maximum Salary of the Range - Minimum Salary of the Range)

Pay Equity Ratio: This ratio compares the average salaries of different demographic groups within an organization to identify any potential pay disparities. The formula is:

Pay Equity Ratio = Average Salary of Group A / Average Salary of Group B

Compa-ratio: This ratio measures the relationship between an employee's actual salary and the midpoint of the salary range for their position. This ratio compares an employee's current salary to the target or reference point within the salary range. The formula is:

Compa-ratio = (Employee's Salary / Midpoint of Salary Range) * 100

What happens if you don’t adjust your pay structure?

Employees are in jobs that are assigned to grades or ranges in salary structures (i.e., minimum, midpoint, and maximum). Each year, the employee gets an annual salary increase while in the same job. If the salary range never changes, what eventually happens? The employee’s pay ends up at the top of the salary range.

Of course, to some degree, that is the intention – there should be a maximum value that a company will pay for any job and that is represented by the maximum of the salary range.

However, by not adjusting your salary ranges you are not accounting for changes in the economy that impact the labor market, such as inflation and a constricted supply of labor.

If your employees all end up at the top of their salary ranges, even with a career development plan in place to facilitate promotions, you’re going to have a morale situation on your hand which will likely lead to turnover.

Looking for help?

Mercer provides a wealth of resources to help you keep your salary structures in shape, including salary surveys , guidance on determining whether pay is competitive, policies and practices reports , and much more. Reach out to one of our associates at [email protected] or 1-855-286-5302 to find just the right tools for your organization.

1 The employee’s performance also impacts position in range, and that can vary from year to year, so it’s not possible to align years of experience with position in range. Variations in performance will explain deviations from expected employee positioning

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The Ultimate Guide to Negotiating Your Salary

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You don’t need to accept a company’s opening offer. Learn how to negotiate for the salary you want and deserve.

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Though there are some things in life you can’t negotiate — like your tax bracket or the inflation rate — your salary isn’t one of them. Negotiation is a standard part of the hiring process when you’re starting a new role. However, a 2020 Glassdoor study found that 59% of American employees did not negotiate their salary. And gender plays a role: of the one in 10 U.S. employees who negotiate and successfully get a raise, men are three times more successful than women.

Asking for a raise or negotiating your salary at a new job can seem daunting, but some tricks and tactics can help you go into it more confidently.

US Salary Negotiations Facts

If you’re feeling apprehensive about asking for a raise, you’re not alone. It turns out there are several factors that influence how likely you are to ask for a raise. There’s hope you’ll succeed as more businesses are doling out raises in 2022.

In 2022, 62% of U.S. workers plan to ask for a raise ; if workers don’t receive a raise, just 31% plan to ask to revisit their salary conversation in a few months.

More workers would rather speak in public than ask for a raise . About 66% of those surveyed were more comfortable with public speaking than the 56% who were more comfortable with asking for a raise.

Men are more likely to ask for a raise. However, the survey found more men than women would instead look for a new role or be audited by the IRS before asking for a raise.

Age plays a role, too. Men aged 18–34 with 10 or fewer years of professional experience were most likely to ask for a raise.

In 2022, 92% of businesses surveyed are giving base pay raises . And 44% of those organizations are giving out more than a 3% raise.

Sources: Robert Half , Payscale

Why Should You Negotiate Your Salary?

Even if you’re intimidated by negotiating your pay, it’s an essential part of your career and getting the compensation you deserve. Depending on your company’s potential for growth and other factors like the economy, getting higher pay without leaving your company down the line could be more difficult if you don’t start at a decent pay level. Starting at a pay level you’re comfortable with can give you a sense of motivation, and as you progress and move forward with the company, you can later ask for a raise that aligns with your expectations.

Starting on the right foot is important

If you don’t feel comfortable with the pay you’re offered, it may be more difficult to put your all into a new role. Starting out at a salary you’re comfortable with lets you put your best foot forward at a new job.

Asking for a raise shows confidence

Taking the initiative to ask for a pay raise, along with noting your accomplishments that warrant asking for a raise shows you know your worth.

It sets you up for future success

Starting out at a higher versus lower salary means when you do receive performance or annual raises, you’ll be happier with them. This can help you stay motivated at your current job if you like the work, so you avoid job-hopping solely for the sake of finding better pay.

A 10-Step Plan for Negotiating Salary

Like anything else, going into salary negotiations feeling prepared is your best bet. Taking steps to calm your nerves so you come off self-assured can go a long way in projecting confidence to your employer — even if you have to fake it till you make it.

Stay positive

Keeping an upbeat attitude and remembering to treat your boss or hiring manager with the utmost respect should keep you in the right state of mind to negotiate. Being polite can help you avoid coming across as pushy, and if you start to feel intimidated, remember that your boss ultimately wants you to be happy in your position so you’re at your most productive. Higher pay can be a great incentive to keep employees motivated.

Use your leverage

Your chances are high to receive the pay you want, especially in certain underserved professions. According to a 2022 Payscale report, labor shortages stemming from the COVID-19 pandemic have companies scrambling to attract and retain employees. 92% of businesses are giving raises in 2022, which is up 7% from 2021.

Know your worth

It can be helpful to research your profession and industry before settling on a number. Begin by checking the salary ranges on job postings for your profession. Working for public organizations versus private can make it easier to find salary ranges because they have to be more transparent about pay.

Depending on where you’re located, private employers may be required to post salary on job listings, like a bill passed earlier in 2022 in New York City. Federal, state and local government worker salaries are open public records. You can check with your state or local government or check FederalPay.org for federal employees. And aside from internet research, don’t forget about word-of-mouth — speaking with coworkers or fellow workers in your professional networks can also give you helpful knowledge.

Plan for tough questions

You’ll need to prepare how you’ll respond if the hiring manager asks about your current or previous salary. Stay calm and remember you are not obligated to disclose your pay history. You can keep your response vague and say your pay has varied based on the type of work and position you’ve held. You could also give a salary range instead of an exact figure — for instance, $70,000–80,000 — to provide you with some flexibility.

Determine your bottom line

What is the lowest amount you’d be willing to accept? Have that figure in mind before you enter salary negotiation talks. It can be helpful to research your budget and the cost of living in your city to ensure you pick a comfortable, liveable wage. You’ll also want to consider other job factors, such as commuting and paid-time-off allowance. If you don’t receive your desired salary, are there other perks you could negotiate, such as extra PTO or more work-from-home days per week?

Come prepared to discuss your accolades

Whether you improved your last company’s bottom line or have garnered awards for your work, salary negotiations are the time to discuss your strengths and accomplishments. It can be helpful to compile a list of your achievements and commit them to memory so you can speak about them comfortably when asked for a rationale for a pay increase or salary bump.

Timing is everything

Timing your salary negotiation talk may not always be possible, but when it is, you should choose a time when your boss is relaxed and free to talk. So a day filled with back-to-back meetings is probably not the best time to spring a discussion on them. Be sure to schedule it with plenty of notice and accommodate your employer’s schedule and time demands.

Prepare for a counteroffer

There are a few courses of action if your request is not approved, but a counteroffer is made. You can choose to maintain your position and ask for a higher offer, you can negotiate further to meet in the middle or you can accept the counteroffer. Be sure to accept the counteroffer graciously, whether you plan to take it or not.

Proven Salary Negotiation Strategies

There are definite dos and don’ts to asking for a raise or negotiating your pay. While some of the work happens while you’re in the room, much of it is in the preparation for salary talks that you’ll complete on your own beforehand. It’s important to keep a positive attitude and frame of mind as you negotiate.

Gather Information

It’s essential to research salary ranges and what pay is like in the current market before you go into salary talks. You can also come up with a list of reasons for your valuation.

MARKET SALARY RESEARCH Check resources for your particular job field to see what the market is currently paying. You should also look at your specific title and see any open job listings and if they list the salary range, as some employers in some areas are required to do. Make a list of accomplishments in your current or previous role that apply to your pay request and can strengthen your appeal for higher pay.

Factor in Your Prior Experience

Every position you’ve ever held contributes to your experience and expertise. It’s important to look at your overall experience versus focusing on your achievements in the past year. The more reasons you can gather to warrant a pay increase, the better your chances should be of receiving what you ask for.

HIGHLIGHT YOUR ACCOMPLISHMENTS Focus on your strengths. Do you have extensive experience in one area that is important to your current company? Have you worn many hats in previous roles? Everyone has strengths that can be desirable to employers and sets them apart. It can even give you a bit of a confidence boost by looking at all that you have done in your career, which will help you go into the talks feeling more self-assured and comfortable.

Remember to Collaborate

How you approach negotiating is very important. A collaborative attitude is always a desired trait in the workplace, particularly with negotiation. Posing your request to your employer so it’s framed like a win-win for both parties can be a successful method. Although your employer is technically giving up something (more pay), you want it to seem like the value they’re receiving outweighs the pay increase.

SHOWCASE YOUR VALUE It’s always a good idea to bring more value to the table than what you take away, and finding a way to communicate this to your employer is an excellent place to start. That’s why creating a list of your values can show your prospective employer what they stand to gain by giving you the salary you want.

Negotiating Your Salary When You Don’t Have Much Experience

Negotiating your salary is nerve-racking for all employees and candidates, but especially so if you don’t have a lot of experience. Even if you’re fresh out of college without much experience in the workforce and are starting your job search , it’s still important to negotiate, so you don’t accept an offer that’s lower than what you deserve.

RESEARCH, RESEARCH, RESEARCH When accepting your first job offer, it can be tempting to take what you can get. But be sure to prepare so you don’t accept a lowball offer or get into a position where you’ll be overworked and underpaid. Playing to your strengths is important, as well as knowing the going rate in your new field.

• Research the job market: Even if you are taking an internship, it can be helpful to see what the job requirements are for similar positions and the compensation.
• Focus on your talents: While you may not have much experience, highlight life skills you can use to your advantage. For example, if you’re a new graduate, you can talk about courses you excelled at or new programs or technologies you are versed in.
• Practice confidence: Though you may not have negotiated before, projecting a calm, confident demeanor can go a long way. Pause to think before responding to a question, and try your best to calm any jitters that can derail your focus and calm.

What to Say During Your Negotiation

Whether you’re negotiating with a new employer for a starting salary or asking for a raise, it’s best to lead with how excited or happy you are to be on the team and why the job is important to you. While the best way to discuss important matters with an employer is typically during a face-to-face meeting, in the age of remote work, that may not always be possible. Turning on your camera during a Zoom call can create personal interaction even at a distance. If there’s no way to have a face-to-face meeting or virtual call, then you can still have an effective negotiation by phone or email.

Words and Phrases to Use in Different Situations

If you’re feeling stuck, try using these phrases and questions to open up your negotiation conversation. It can be helpful to have a script in mind to stick to if your thoughts go off-course or you’re feeling nervous, even as you naturally go with the flow of the conversation.

I’m excited at the prospect of coming onboard and getting to know the team.

Saying something that shows you are looking forward to collaborating can go a long way with an employer who wants to know if you’re a team player. Also, starting with a few opening lines about the work and value of the company rather than strictly the compensation can show that your mind isn’t just on the money.

It has been (length of time) since my last pay review, and based on my increased responsibilities and average salary for the industry, I’d like to request a raise to (amount).

If you’re negotiating for a raise, you can justify the reasoning that you have researched the going rate for your industry and title, and note that your responsibilities have increased or the scope of your role has expanded.

With my background/experience and the role’s responsibility, I’d like (desired salary).

It’s not the time or place to discuss your rising rent or grocery costs. It’s best to state your desired salary simply and plainly, with the justification being the value you bring to the table.

Thank you for the offer. If you can move to (desired salary), I would be happy to accept the role.

You can say this if a counteroffer is made that doesn’t meet your expectations.

Is there any flexibility in the compensation package?

If the offer isn’t exactly what you bargained for and it doesn’t appear the employer will budge on it, you can see if there are other perks you can negotiate for, such as working from home, extra paid time off or other flexibility.

How Much Should You Ask For?

A standard raise can be anywhere from 3%–5%. Performance raises can be above that amount; however, they vary by company and field. It’s important to research the going rate for your title in your specific industry. Ideally, you’ll do some background research before you come up with a figure and present it to your prospective or current employer.

Determine Your Worth

Though it can be tempting to throw out a high number, you want your employer to know you’re serious and have done the research about a fair rate.

QUESTIONS TO ASK YOURSELF

• How much is a starting salary for your field? Starting at the base pay for an entry-level position in your field can give you a number to work from.
• How much is a mid-level salary? Similarly, knowing the average mid-level salary will help you get a framework for your expected pay. Remember that salary varies by many factors, which may be a range versus a single dollar amount.
• How much is a senior-level salary? Knowing the top level for your position can help you plan and understand what you can work toward or achieve now.
• How have my contributions helped my department or the company? Thinking about your past performance reviews and your outstanding mentions or notable accomplishments can help fuel your mission for higher pay and give your employer justification for raising your rate.

5 Areas You Can Negotiate Besides Salary

There are other factors that go into a great compensation package other than the salary. Consider negotiating for other perks that are important to you. These can be used as bargaining tools if you cannot meet at a salary you’re comfortable with.

Flexible work hours

Maybe you’re a parent and would like to have the option to work flexible hours that work with your childcare situation. Checking if there’s any flexibility for the hours you work, such as having the ability to start earlier and leave earlier, can make up for a less than stellar compensation package.

Working remotely

Since the COVID-19 pandemic, many more employers have offered remote or hybrid work. Negotiating for work-from-home days or an entirely remote schedule could be a good way to seal the deal and make you and your employer happy.

Relocation assistance

If you’re applying for a job from a distance, you can see if your company offers coverage for your relocation costs. This can help ease the financial burden of moving to a new area for a job.

PTO allowance

Perhaps you can negotiate for additional paid time off. An extra week of vacation could be the tipping point if you can’t agree on a salary.

Commuter benefits

Does your company offer reimbursement for public transit or mileage costs? These can offset your commuting costs and add up to some savings.

Common Mistakes to Avoid When Negotiating

There are some pitfalls to look out for when negotiating your pay. Avoiding these common mistakes can keep you on the right track in your negotiation and prevent giving your employer any reason to deny your requests.

Accepting the first offer given

Even if you’re eager to accept a position, you want to give yourself room to negotiate a better offer. Thank the employer for the offer, and if you feel pressured on the spot, ask for a day to think about it to give yourself time to prepare to negotiate.

Skipping market research

You’ll need to thoroughly prepare for your salary negotiation with a number in mind that is drawn from market research and calculating your own worth to the company.

Downplaying your accomplishments

It’s not the time to be humble or self-effacing. Be sure to come prepared with a mental list of what you’ve accomplished and the value you’ve brought to the company or previous roles.

Not researching the company itself

Using a resource like Glassdoor or open records can help you ascertain how much the company in question pays for salaries. If you know the market rate is significantly higher than what they’re offering, you may not have luck with your negotiation and may want to rethink either the job or your expectations.

Not being prepared to walk away

Once you come up with a bottom-line number that you need to feel comfortable accepting the job, you have to be willing to walk away from the opportunity if the employer cannot or will not match that.

When Is the Right Time to Negotiate?

Timing is definitely important when negotiating. The right time will depend on where you are in the hiring process and when your employer is not rushed. You probably don’t want to go back and forth with counter offer after counteroffer, so having the number you want and a number you won’t fall below in mind can help make for an efficient negotiating process.

WHEN TO NEGOTIATE

• The salary does not reflect your experience. If you’ve recently taken on more responsibility at work or received a title change without a pay increase, it is a good time to ask for a raise. You have excellent justification to explain to your employer why you deserve additional pay.
• You’ve contributed to the company’s success. Has your company been having a windfall and doing better than ever? If you’ve had meeting after meeting about how revenue is up and everyone’s contributions have been successful, this can be a good time to ask for a raise. Economically favorable circumstances are always better for asking for what you want than when a company is doing poorly.
• Another company has made an offer. This one is tricky because while a competing offer gives you leverage, you don’t want to mention one to your current company unless you’re willing to leave. Why? This shows your employer you have been job searching and things can be awkward if you do decide to stay.
• Another company has made an offer and you’re still in job talks. If you’re in negotiations with a prospective employer, you can thank them for the offer and inform them that you’re interviewing with multiple companies. Then, you can ask if they can match your desired amount. This gives you greater leverage since the company knows you’re in demand. Note, if you’re trying to get a raise with your current employer, this does not apply.

Q&A With a Career Coach

When you’re looking for insider knowledge on getting the best salary, who better to consult than a career coach? MoneyGeek spoke with established experts who coach their clients on improving their career prospects.

• What are some common mistakes employees make when negotiating salary?
• What is your best tip for going into salary negotiations?
• What if your current employer makes a counteroffer to keep you?

Kali Wolken

Career Counselor at The Lookout Point, LLC

Christine Michel Carter

Best-selling Author and Career Coach at Minority Woman Marketing LLC

Karen James Chopra

Career Coach at Chopra Careers

Responding to an Unsuccessful Negotiation

When you go into negotiations, you hope for the best possible outcome, but not all negotiations are successful. If you’re unable to receive an offer that aligns with your expectations, know that you still have options.

Provide a counteroffer

Maybe the amount you first requested was denied, but there is still an opportunity to compromise and come up with a figure that works for both you and your employer. Before you enter negotiations, you must have a counteroffer in mind if they do not accept, so you can swiftly attempt to reach a compromise.

Ask for other benefits

If your counteroffer is refused and you’d still like the position, it’s worth asking about other benefits you can negotiate. Maybe you would be comfortable accepting the salary they offer if you can work a flexible schedule, for instance.

Decide how to proceed

If the salary offered does not meet your expectations, it may be time to walk away and find another job that better suits your needs and valuation.

Salary Negotiation Advice for Women

Salary negotiations are complex for everyone. Still, women may face additional challenges because of stereotypes associated with women in the workplace . Many of these challenges can be an issue of confidence in individual worth: women report salary expectations between 3%–32% lower than men for the same job, according to a report by UC Davis Advance . Feeling confident in salary negotiations and knowing your worth is an essential first step toward getting the financial compensation you deserve as a woman .

Overcoming Gender-Specific Challenges

Women were paid 83 cents for every dollar earned by a man in 2020, making it ever so important for women to speak up about the wage gap and to get the pay they deserve .

Know your worth and value

Don’t second-guess yourself or the wage you want. The more confident and comfortable you feel about the salary you’re requesting, the more at ease you will feel when it comes time to negotiate.

Research what coworkers make

If you can, try to find out what men in your field or at the company in question earn. This can give you a guideline for how much you should earn — because you should absolutely earn what a man in your exact position would.

Document your accomplishments

You’ll want to have clear documentation of your achievements at work for your salary negotiation. It’s helpful if you can compile it in a spreadsheet or some other quantifiable way, so there is no doubt about your role in those achievements.

Expert Insight on Salary Negotiation

Business leaders’ and owners’ perspectives on how best to negotiate can be invaluable in your preparation for salary negotiations. MoneyGeek spoke with leading finance experts on the dos and don’ts of negotiating your salary.

• Is there a right and a wrong way to negotiate your salary when starting a new role?
• What should an employee do if their salary request is denied or a counter offer is made that doesn’t meet their expectations?

Kamyar Shah

Fractional COO of Kamyar Shah

Danielle Miura, CFP®

Founder of Spark Financials

Zachary Weiner

CEO & Founder of Finance Hire

Kenneth Chavis IV

Certified Financial Planner and Senior Wealth Manager at LourdMurray

CEO of Riva

Hayley Flynn

HR Manager at Fuseideas

Cathy Lanzalaco

CEO at Inspire Careers

Additional Resources for Negotiating Salary

Having a strong understanding of financial topics can help you determine what your salary needs are and what you should ask for. The following guides can help you learn more about industry and salary standards.

Career and Industry Resources

• Bureau of Labor Statistics’ Occupational Outlook Handbook : Check current salaries across different industries using the search tool here. You can also check the growth rate and projected number of new jobs.
• Glassdoor.com : Apply for jobs, view company ratings and reviews from current, former and prospective employees and salaries for job titles at specific companies.
• JobStar.org : Find job search resumes for different cities, including help with resumes and cover letters.
• OpenPayrolls : Search the salary database for careers nationwide. You can search by employer type or by the employee.
• State of New Jersey Transparency Center : Though this guide is for the state of New Jersey, you can check with your state’s public payroll record to see payroll data.
• U.S. Bureau of Labor Statistics : See economic regions’ news, such as inflation and the unemployment rate.

Salary Resources

• FederalPay : Check pay information for employees of the federal government. You’ll also find information on per diem rates and a federal holiday schedule.
• Indeed Salary Insights : Indeed clearly posts the average salary for a position in its headline, making it easy to get a quick idea at a glance about pay.
• MoneyGeek’s Cost of Living Calculator : See what kind of salary you’ll need to earn to live comfortably in your city. MoneyGeek lets you compare expenses across large and mid-size U.S. cities.
• LinkedIn Salary : See salary insights and submit your own salary to help others in the same position. You can also navigate to the Jobs tab in the LinkedIn app or to a job posting to see listed salary information.
• PayScale.com : View annual reports on compensation trends to see what is happening across the market as far as raises and challenges in the workforce.
• PayScale Salary Reports : PayScale offers an interface that assists with salary information like market value, allowing you to input education and job skills.
• Robert Half Salary Guide : The 2022 guide outlines projected starting salaries for more than 500 positions across several industries.
• Salary.com : A resource for employers and employees to see what constitutes fair pay across many industries.
• SalaryExpert.com : Another resource for employers and job seekers to find compensation data to help in their job or candidate search.

About the Author

Cheryl Wagemann has more than seven years of experience creating content for digital and print media companies. She most recently covered economics and banking terms for The Balance and previously was the shopping editor at Finder, where she developed a love for personal finance. Prior to that, roles ranged from a Samsung copywriter to a local news editor. Cheryl is currently also an updates editor for Byrdie, a Dotdash vertical.

• Glassdoor. “ Glassdoor Survey Finds 3 In 5 U.S. Employees Did Not Negotiate Pay In Current/Most Recent Job – Fewer Women Negotiate Than Men .” Accessed June 18, 2022.
• Robert Half. “ 56% Of U.S. Companies Have Experienced Pay Compression In The Last 12 Months, Robert Half Research Finds .” Accessed October 5, 2022.
• Payscale. “ 2022 Compensation Best Practices Report .” Accessed June 21, 2022.
• Spectrum News. “ City Council Passes Bill to Mandate Salary Transparency in Job Listings .” Accessed June 21, 2022.
• Algrim. “ What Is a Reasonable Average Raise Percentage to Ask For (2022) .” Accessed June 22, 2022.
• UC Davis Advance. “ Women Don’t Ask: Negotiation and the Gender Divide .” Accessed June 22, 2022.
• U.S. Census. “ Income and Poverty in the United States: 2020 .” Accessed June 22, 2022.

The Future of Good Jobs: Projections through 2031

The future of good jobs, projections through 2031, full report.

• Press Release

Even against a backdrop of economic uncertainty—driven by high inflation and interest rates, generative AI, international conflicts, changing demographics, and a shifting policy environment—the future of good jobs in the US looks promising. Economic opportunity will increasingly favor workers with higher levels of education and training.

The Future of Good Jobs: Projections through 2031 forecasts the number of good jobs in 2031 for workers ages 25–64 by 22 occupational groups and three educational pathways (bachelor’s degree, middle skills, and high school). The report finds that while there will be good jobs on every educational pathway in 2031, only 15 percent will be available to workers on the high school pathway, compared to 66 percent on the bachelor’s degree pathway and 19 percent on the middle-skills pathway.

Source: Georgetown University Center on Education and the Workforce projections using Carnevale et al., After Everything , 2023; US Census Bureau and Bureau of Labor Statistics, Current Population Survey (CPS), March Supplement, 1992–2020; and US Bureau of Economic Analysis, SARPP Regional Price Parities by State, 2020.

Note: Values may not sum to 100 percent due to rounding. The minimum earnings threshold for good jobs is adjusted for the difference in cost of living by state and for inflation to 2020 dollars using R-CPI-U-RS.

Good Jobs and Promising Occupations

– what is a good job.

CEW defines a good job as one that pays, nationally, a minimum of $43,000 to workers ages 25–44 and a minimum of $55,000 to workers ages 45–64, with a median of $82,000 for all good jobs.

– What is a Promising Occupation?

To help workers make decisions that maximize their likelihood of securing a good job, this report introduces the concept of promising occupations for workers on each educational pathway. To be considered promising, an occupational group must meet two criteria:

• More than half of jobs in the occupational group are projected to be good for workers on a given educational pathway in 2031.
• The occupational group will employ a higher share of workers on a specific educational pathway than will the overall economy in 2031 (more than 52 percent for workers on the bachelor’s degree pathway, 22 percent on the middle-skills pathway, and 26 percent on the high school pathway).

Good Jobs and Promising Occupations on Each Educational Pathway

• Bachelor's Degree Pathway
• Middle-Skills Pathway
• High School Pathway

Occupational Cluster

Managerial and professional office

Education, training, and library

Community services and the arts

Healthcare professional and technical

Healthcare support

Food and personal services

Sales and office support

Blue-collar

Both upskilling within occupations and growth of occupations that require comparatively high levels of education will increasingly shift opportunity to workers with bachelor’s degrees or higher. As a result, the bachelor’s degree pathway will offer the largest number of good jobs (58.2 million) and promising occupational groups (10) in 2031.

Federal investments in infrastructure, along with slower labor force growth, fewer college graduates, and expanding generative AI capabilities, have the potential to support a more robust middle-skills labor market than in previous decades. By 2031, middle-skills workers will have 16.4 million good jobs and five promising occupational groups available to them.

Ten of the 22 occupational groups will see net declines in good jobs on the high school pathway, even as many of these same occupations will see growth in the numbers of good jobs on the bachelor’s degree and middle-skills pathways. Consequently, by 2031, the high school pathway will only have 13.2 million good jobs available to workers and just one promising occupational group (installation, maintenance, and repair).

The Future of Good Jobs: Projections through 2031 forecasts that the bachelor’s degree pathway will be the dominant route to good jobs in the future despite continued skepticism about the value of a college degree.

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How to Answer “What Are Your Salary Expectations?”

Strategies to navigate this complicated (and awkward) question.

There are many interview questions that inspire dread in an interviewee — from “What’s your greatest weakness?” to “Tell me about yourself.” But one in particular is especially complicated: “What are your salary expectations?” If you go too low, you might end up making less than they’re willing to pay. But if you go too high, you could price yourself out of the job. In this piece, the author offers practical strategies for how to approch this question along with sample answers to use as a guide.

Job interviews can feel awkward. You’re trying to prove you’re the right person for the role, but you never quite know what to expect or what your interviewer is really thinking about you. One of the most common interview questions — and one of the more awkward ones — is about salary. You know the one: What are your salary expectations?

• Amy Gallo is a contributing editor at Harvard Business Review, cohost of the Women at Work podcast , and the author of two books: Getting Along: How to Work with Anyone (Even Difficult People) and the HBR Guide to Dealing with Conflict . She writes and speaks about workplace dynamics. Watch her TEDx talk on conflict and follow her on LinkedIn . amyegallo

Partner Center

§ 28–2305. Contract to assign future salary or wages.

(a) A contract attempting or purporting to transfer or assign salary or wages to be earned by the debtor, if made in the District of Columbia, is invalid and contrary to public policy and unenforceable, and if made outside the District of Columbia, is unenforceable in any court within the District of Columbia.

(b) Whoever, in the District of Columbia demands or receives from a debtor an assignment of salary or wages to be thereafter earned by the debtor, or notifies an employer that he holds an assignment of such salary or wages, upon conviction shall be fined not more than the amount set forth in [ § 22-3571.01 ] or imprisoned not more than sixty days. Prosecutions under this subsection shall be upon information filed in the Criminal Division of the Superior Court of the District of Columbia by the Corporation Counsel of the District of Columbia or one of his assistants.

How to Answer: What Are Your Salary Expectations?

Discussing salary can be uncomfortable. Here’s how you can navigate the “What are your salary expectations?” question during interviews, and how to prepare.

Customers Interviewed by:

Answering the interview question “What are your salary expectations?” is usually the most complex “dance” in the whole interviewing process. It can also be the most dangerous. The best strategy is to do your research in advance, know the minimum you can accept (your “walk away” number when the job is no longer worth it for you), and have your answers ready.

Why do employers ask what your salary expectations are?

This question may also be stated as “What are your salary requirements?” or “What do you expect to be paid?” There are a few different reasons why companies ask about salary expectations . First, they want to make sure that your expectations are within a range they can actually meet. If you give them a single, immovable number or a range in a bracket that they know they can’t agree to, they’ll be able to release you from the interview process, saving both parties wasted time and energy.

Another reason recruiters and hiring managers might ask this question is to identify whether you’re the type of candidate who does their research and can share specifically the value that they would bring to the role.

The way you answer this question can also signal to the hiring manager whether you are overqualified or underqualified for the position. Salaries tend to align with years of experience, so it can help them gauge whether you’re in their target experience range.

Here are four ways to answer and prepare for the salary expectations question.

Deflect the question

Rather than answering the question directly, you could respond with:

I would prefer to know more about the job and your expectations of the employee first to give you a realistic number.

If you go with this approach, be prepared in case the interviewer presses you for an answer about your compensation expectations.

Provide a salary range

The employer will very likely want a specific number, so another strategy is to give them a number or a range. Assuming your target salary is $47,000, you could say:

I’m looking for a position which pays between $45,000 and $52,000 for a 35-hour work week.

Understand that if you offer a range, they will usually choose the low end of the range in their initial offer, so maybe bump up the range a bit. For example, in this situation, the range could be $42,000 to $52,000. Unless you are very experienced (years in the job, working very successfully), do not expect to be offered the top of the range.

Offer a salary range plus some options for negotiation

To give yourself more room for negotiation, add some options which would be beneficial to you:

I’m looking for a position which pays between $45,000 and $52,000 for a 35-hour work week, but that number can be adjusted based on my ability to work at home, vacation time, bonuses, tuition reimbursement, and other benefits you may provide.

With this answer, you are offering a specific salary range, but also indicating some flexibility based on the benefits provided. Include options that are important to you and will, effectively, be an increase in your pay by reducing some of your out-of-pocket expenses or giving your salary a boost.

Ask the interviewer about their budget for the role

If you don’t feel comfortable with the three options above or want to try to get some more context on the position of the company, try turning the tables and asking them the question. The truth is, every company has a certain budget in mind when hiring for a new position. The budget range varies depending on the size, success, and values of the company.

Politely asking about the budget range the business has set for the role in question can help you better understand the situation, make last-minute adjustments to how you want to answer the salary expectations question, and signal to the hiring manager that you’re a strong interviewer.

Research to prepare for the salary expectations question

Guessing at the salary range is very dangerous! If you guess too high, you could disqualify yourself from consideration. If you guess too low, you are setting yourself up for a long period of being underpaid.

Research the salaries paid for the job you are seeking so you have a starting point for this discussion and be prepared to negotiate your salary if needed. It’s a good idea to research the national average salary for your role, the state and city averages, and then the range within that particular company. Unfortunately, fewer than 15% of job postings contain a salary ranges, currently. Fortunately, today, several websites offer salary information.

Sites like PayScale , Salary.com , Glassdoor , and LinkedIn offer salary information. The information used is largely self-reported by the people using the service (as you will need to do to see their data). Since they cannot verify each individual’s salary or benefits, consider this salary data to be estimated rather than exact. Also, understand that job duties may vary widely even though the job titles are the same.

Two other valuable sources that are not mentioned often include Indeed’s salary estimates and RobertHalf.com’s salary guide for job postings.

Start with Indeed to get an idea of what the jobs you want are paid. If the employer doesn’t provide the salary data, Indeed estimates the salary by comparing the posted job with other similar jobs. Bonus: you may even find the real – or estimated — salary range for the employer and job you are interviewing for.

RobertHalf.com provides very complete information in their salary guides based on the RobertHalf job openings. Scroll down past the registration form to the Salary Calculator and complete the form to see the salary estimate.

How do you answer salary expectations at the entry-level?

Just because you’re a fresh graduate or applying for your first job ever, doesn’t mean that you should walk in to an interview willing to accept any salary offered to you. Many businesses, unfortunately, expect this type of behavior, which can often result in them feeling validated in underpaying entry-level workers across the company. Be sure to follow the steps above to do your research on the salary standards in your industry.

It’s also important to consider your financial needs. If you haven’t yet, figure out your monthly expenses and the income you would need to make to live comfortably so you walk into your interview prepared.

How to answer salary expectations in an email?

In some scenarios, you might be asked to share your salary expectations in an online application or via email. There are several ways to navigate this scenario based on your comfort level.

If an online application includes a question about salary expectations, you can choose to include one of the answers that you would use in an interview. Or, you can make a note sharing that you prefer to have salary discussions verbally or in person, once you’re able to understand the nature of the role.

The same philosophy applies to a request via email. If you don’t feel comfortable having your answer in writing before learning more about the job, feel free to mention this to your contact.

What does the interviewer want to hear?

Whether you’re still trying to land the interview or want to review your top talking points before the big meeting, run a skills analysis with Jobscan . Paste your resume and the job description below to see a breakdown of the top skills a hiring manager asked for in the job description.

The original version of this article was published on February 27, 2018. It was written by Susan P. Joyce , publisher of  Job-Hunt.org . Follow Susan on Twitter at  @jobhuntorg  and  on LinkedIn . The article was updated by Alison Haselden on June 23, 2021.

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MIT Economist Blasts AI Hype, Says It's Too Dumb to Really Impact Jobs

Companies are "over-investing in generative ai and then regretting it.".

Concerns over an AI bubble are continuing to grow .

Major selloffs at the beginning of this week had experts worried that the dam was breaking, although markets have since stabilized significantly .

Nonetheless, the conversation surrounding tech giants losing hundreds of billions of dollars in market capitalization continues, with critics arguing that AI hype is unsustainable in the long run.

In an interview with NPR , MIT economist and leading AI skeptic Daron Acemoglu made a case that the tech is simply far too dumb to have a major impact.

When asked if generative AI would usher in revolutionary economic changes, Acemoglu had a straightforward answer.

"No. No. Definitely not," Acemoglu told NPR . "I mean, unless you count a lot of companies over-investing in generative AI and then regretting it, a revolutionary change."

Clippy on Speed

Generative AI is still struggling with many of the same challenges as when ChatGPT was first made available to the public in late 2022. For one, AI chatbots still have a strong tendency to "hallucinate ," meaning that their connection to reality is tenuous at best.

As NPR points out, experts have also argued that claims of generative AI intelligence are likely exaggerated, and aren't much more than " autocorrect on steroids ": a statistical model that does little more than recognize patterns in data.

Despite being available to the public for several years now, the rate of meaningful corporate use remains dubious. While individual workers are using the tech on a regular basis, companies have yet to incorporate it into their business en masse, as the Economist reported last month .

Acemoglu argued that AI isn't capable of most tasks in a modern office. According to the economist, generative AI will only ultimately impact less than five percent of human tasks.

He also predicted that the tech will only boost the gross domestic impact by roughly 1.5 percent over the next decade. While that's "nothing to be sneered at," he told NPR , "it's not revolutionary in any shape or form."

"So a lot of people in the industry don't recognize how versatile, talented, multifaceted human skills and capabilities are," Acemoglu told NPR . "And once you do that, you tend to overrate machines ahead of humans and underrate the humans."

More on AI: The AI Bubble Is Bursting, Experts Say

Share This Article

Watch CBS News

Norah O'Donnell to leave "CBS Evening News" anchor desk after 2024 election for new role at network

Updated on: July 30, 2024 / 3:53 PM EDT / CBS News

"CBS Evening News" anchor and managing editor Norah O'Donnell has announced that she will leave her role at the anchor desk after the 2024 election and take on a new position at the network.

"We just celebrated an amazing five years together. I love what I do, and I am so fortunate to work with the best journalists and people in the business," O'Donnell said in a message shared with the staff. "Together, our team has won Emmy, Murrow, and DuPont awards. We managed to anchor in-studio through COVID; we took the broadcast on the road from aircraft carriers to the Middle East, and around the world. We were privileged to conduct a historic interview with Pope Francis. There's so much work to be proud of!"

But O'Donnell, who previously co-hosted the network's morning news program, said she felt it was time to make a change.

"I have spent 12 years in the anchor chair here at CBS News, connected to a daily broadcast and the rigors of a relentless news cycle. It's time to do something different. This presidential election will be my seventh as a journalist, and for many of us in this business we tend to look at our careers in terms of these milestone events," she wrote.

Wendy McMahon, president and CEO of CBS News & Stations and CBS Media Ventures, said O'Donnell's new role will enable her to "do more of the storytelling and big interviews that are a hallmark of CBS News, as well as Norah's illustrious career."

"Norah will have the time and the support to deliver even more of the exceptional stories she is known for across our shows and streams, across CBS Network and Paramount+. She will have the real estate and flexibility to leverage big bookings on numerous platforms, including primetime specials, 60 Minutes, CBS News Sunday Morning, and more," McMahon said.

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What is your desired salary (example answers included).

Mike Simpson 0 Comments

By Mike Simpson

What is your desired salary? It’s probably one of the most uncomfortable questions you’ll face during an interview. After all, talking about money is hard, more so when you’re put on the spot.

Plus, your answer is likely to serve as a starting point for salary negotiations. Aim too low, and you leave money on the table. Aim too high, and the hiring manager might drop you as a candidate.

Scary, right?

Luckily, you can figure out what to say during an interview – or what to put for your desired salary on an application – by using the right approach. If you’re ready to learn more about how to tackle this dastardly question, here’s what you need to know.

What Is “Desired Salary” as It Pertains to a Job Interview?

Now, before we dig into who to answer “what is your desired salary,” let’s talk about what “desired salary” even means.

Generally, “desired salary” refers to the dollar amount you’d like to receive in exchange for handling the job’s responsibilities. Essentially, it’s a number that you feel is fair based on what the position involves.

Is this question all that different from “ What are your salary expectations ?” Well, yes and no.

Many hiring managers don’t view the two questions as being that different. After all, the point of both is to get you to share a number.

The thing is, there is a slightly different connotation with each version of the questions.

Consider this: Merriam-Webster defines “expect” as “to consider probable or certain; to consider reasonable, due, or necessary; and to be consider bound in duty or obligated.” However, Merriam-Webster defines “desire” as “to long or hope for and to express a wish for.”

Based on that, salary “expectations” feels more concrete, like a harder line in the sand. “Desired” salary feels a little more like a wish or hope.

Does that matter? Maybe yes, maybe no. In some cases, it could give you an idea of how the hiring manager might treat or perceive your answer, but that isn’t always true. Still, it’s essential to realize that tone can matter, both when it comes to the question asked and how you answer it.

Speaking of answers, it’s also crucial to understand how a misstep when dealing with this question can hurt you. While there isn’t’ technically a “right” or “wrong” answer, that doesn’t’ mean you can’t mess up.

First, if you offer up a low number, you are hurting your position when it comes time to negotiate your salary . You’ll leave money on the table, and that’s never a good thing.

But if you aim too high, you might scare the hiring manager off. They may believe that you two are so far apart when it comes to pay that a consensus isn’t possible. Worst case, they may perceive your high number as brazen, rude, or ridiculous, and none of that is good either.

Why Does the Hiring Manager Ask This Question?

Okay, we’ve touched a little on why the hiring manager asks you about your desired salary, albeit indirectly. Now, we’re going to take this question head-on.

Overall, the hiring manager is trying to figure out three things. First, are you both on the same page about what constitutes fair compensation for this job? Second, can the company afford you? Third, is the value for the money there?

But the hiring manager is also trying to pass the proverbial buck. In the end, salary negotiations are always part of the hiring process, and whoever starts them is usually at a disadvantage.

The hiring manager is hoping that you’ll offer up a number that’s at or below the lower end of the salary range they wanted to pay. In a way, it’s a bargain shopping technique, as they are hoping that you undervalue what you bring to the table so that they can take advantage of that.

Also, the hiring manager wants to see how confident you are about your value. If you deliver a number with conviction, they learn a bit about your mindset and whether you’ve done any research, and those are important insights.

Common Mistakes When Answering This Question

As with nearly all job interview questions, a mistake can cost you (in this case, a bit more literally).

Like we mentioned above , hiring managers are always hoping that they can get a great candidate for a bargain price, so responding with a low number means you could get an offer below fair market value. Not only does that hurt you right now, but it could harm your earnings for the remainder of your career. Yikes.

But that doesn’t mean you should aim for the skies either. If your number is above what’s reasonable for the job, the hiring manager may decide to skip countering and just move onto another candidate.

Finally, you need to realize that, even if you deliver a reasonable number, if you lack confidence or hedge, the hiring manager may leverage your uncertainty and lowball you. Even worse, they may think that you have doubts about your capabilities, making them unsure about whether you can actually do the job.

In the end, you need to be both reasonable and self-assured. Confidence matters as much as the number you share, so keep that in mind.

Remember, this is just one question the hiring manager could ask you in your interview! That’s why we created an amazing free cheat sheet that will give you word-for-word answers for some of the toughest interview questions you are going to face in your upcoming interview.

Click below to get your free PDF now:

Get Our Job Interview Questions & Answers Cheat Sheet!

FREE BONUS PDF CHEAT SHEET: Get our " Job Interview Questions & Answers PDF Cheat Sheet " that gives you " word-word sample answers to the most common job interview questions you'll face at your next interview .

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Tips for Answering This Question

1. take a deep dive into salaries.

If you want to make sure that you know what to put for desired salary on an application or how to answer “What is your desired salary?” during an interview, it’s time for some research. Begin by seeing what jobs like the one you are trying to land tend to pay in your area. This gives you a starting point.

Then, you want to look beyond the overall going rate in your area and try to take a deep dive into that company’s salary structure. That way, you can see not just what the company tends to offer for the role but whether their compensation matches the competition. All of that is valuable information.

If you aren’t sure where to begin, head to sites like Salary.com , Payscale , and Glassdoor to get your research going. You can also try the Bureau of Labor Statistics , as well as look for competitor job listings for similar roles.

With all of that, you should be able to glean what a reasonable salary looks like for the job.

2. Stall, Stall, Stall

As we mentioned above, giving the first number usually isn’t a great idea. Ideally, you want to sidestep it whenever possible, giving you a chance to learn more before you offer up a number.

One option is to tell the hiring manager that you’re more concerned about the total value of the entire compensation package and not just the salary. You may also want to state that you’d like more details about the job if you haven’t had a chance to dig in, as you can’t provide a fair number without that information.

Trying to pivot can also be a good move. For example, you can say that you’re hoping for a competitive salary and then ask the hiring manager if the company had a range in mind. This puts it back on the employer, though it isn’t guaranteed to lead to a number.

3. Choose the Right Approach

If you simply can’t avoid offering up a number, then use the right approach. Use your research as a guide, then choose a highly specific dollar amount near the top end of the normal range.

For example, if the top-end of the range is $75,000, go with $74,260. Precise figures make it seem like you really understand what you’re skills are worth and may put you in a better position.

Alternatively, you could present a salary range. However, only offer one where you are okay with potentially accepting the lowest figure based on what you know about the role. After all, that’s what the hiring manager will make their target, so make sure you’re good with that before you present a range.

How to Answer the Interview Question “What Is Your Desired Salary?”

Okay, once you’re faced with the “What is your desired salary?” interview question, how do you answer it? Well, by using the Tailoring Method , of course.

When you take advantage of the Tailoring Method, you can create a highly relevant and engaging answer to nearly any interview question, not just this one. It’s a reliable strategy that you can turn to again and again.

Would it help if you saw some example answers for this interview question? Great. Here are three, each based on a slightly different approach.

Example 1 – The Stall

If you want to avoid giving out the first number, then giving a solid reason that outlines why you aren’t ready to provide one can work. The trick is to make it clear that you need more details, ensuring they can’t give you a tiny piece of information and then toss the question back at you. Here’s how to do it:

EXAMPLE ANSWER:

“While the salary is certainly a critical part of the equation, there are other factors that are at least equally important. Ultimately, I’m concerned about finding the best fit for my skills, as well as a company that offers an amazing culture. Based on what I know about the opportunity through the job description and what I’ve found out about the company online, I feel I need more information to determine what’s reasonable. I’d like to find out about the typical day in this role and any projects that are on the horizon, for example. Additionally, I would want to find out more about what the company offers its employees, giving me a better idea of the total compensation package’s value. At that point, I think we could work together to reach a fair number.”

Example 2 – The You Go First

If you already know a lot about the position and the company’s culture, then it’s a bit harder to bypass answering and get the hiring manager to toss out the first number. But that doesn’t mean it isn’t possible. Here is an approach you can try:

“That is an excellent question. Before I provide a number, could you tell me what salary range the company usually offers for this position?”

Example 3 – The Research-Backed Precise Number

If you can’t get around giving out a number, you want to use a research-backed approach along with a precise figure. Here’s how to tackle answering with this method:

“Based on my salary research and what I know about the position thus far, my understand is that $74,260 per year is both competitive and typical for the skillset you are hoping to land and the job’s responsibilities.”

Putting It All Together

In the end, answering “What is your desired salary?” is difficult but doable. You can use all of the information above to help you craft an answer based on how the conversation unfolds, ensuring you don’t sell yourself short and unintentionally leave money on the table.

FREE : Job Interview Questions & Answers PDF Cheat Sheet!

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• What Is Your Greatest Weakness?
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• Tell Me About Yourself
• Why Should We Hire You?

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Co-Founder and CEO of TheInterviewGuys.com. Mike is a job interview and career expert and the head writer at TheInterviewGuys.com.

His advice and insights have been shared and featured by publications such as Forbes , Entrepreneur , CNBC and more as well as educational institutions such as the University of Michigan , Penn State , Northeastern and others.

Learn more about The Interview Guys on our About Us page .

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Mike simpson.

Co-Founder and CEO of TheInterviewGuys.com. Mike is a job interview and career expert and the head writer at TheInterviewGuys.com. His advice and insights have been shared and featured by publications such as Forbes , Entrepreneur , CNBC and more as well as educational institutions such as the University of Michigan , Penn State , Northeastern and others. Learn more about The Interview Guys on our About Us page .

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What Is Wage Assignment?

Definition and example of wage assignment, how wage assignment works, wage assignment vs. wage garnishment.

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A wage assignment is when creditors can take money directly from an employee’s paycheck to repay a debt.

Key Takeaways

• A wage assignment happens when money is taken from your paycheck by a creditor to repay a debt.
• Unlike a wage garnishment, a wage assignment can take place without a court order, and you have the right to cancel it at any time.
• Creditors can only take a portion of your earnings. The laws in your state will dictate how much of your take-home pay your lender can take.

A wage assignment is a voluntary agreement to let a lender take a portion of your paycheck each month to repay a debt. This process allows lenders to take a portion of your wages without taking you to court first.

Borrowers may agree to allow a lender to use wage assignments, for example, when they take out payday loans . The wage assignment can begin without a court order, although the laws about how much they can take from your paycheck vary by state.

For example, in West Virginia, wage assignments are only valid for one year and must be renewed annually. Creditors can only deduct up to 25% of an employee’s take-home pay, and the remaining 75% is exempt, including for an employee’s final paycheck.

If you agree to a wage assignment, that means you voluntarily agree to have money taken out of your paycheck each month to repay a debt.

State laws govern how soon a wage assignment can take place and how much of your paycheck a lender can take. For example, in Illinois, you must be at least 40 days behind on your loan payments before your lender can start a wage assignment. Under Illinois law, your creditor can only take up to 15% of your paycheck. The wage assignment is valid for up to three years after you signed the agreement.

Your creditor typically will send a Notice of Intent to Assign Wages by certified mail to you and your employer. From there, the creditor will send a demand letter to your employer with the total amount that’s in default.

You have the right to stop a wage assignment at any time, and you aren’t required to provide a reason why. If you don’t want the deduction, you can send your employer and creditor a written notice that you want to stop the wage assignment. You will still owe the money, but your lender must use other methods to collect the funds.

Research the laws in your state to see what percentage of your income your lender can take and for how long the agreement is valid.

Wage assignment and wage garnishment are often used interchangeably, but they aren’t the same thing. The main difference between the two is that wage assignments are voluntary while wage garnishments are involuntary. Here are some key differences:

Once you agree to a wage assignment, your lender can automatically take money from your paycheck. No court order is required first, but since the wage assignment is voluntary, you have the right to cancel it at any point.

Wage garnishments are the results of court orders, no matter whether you agree to them or not. If you want to reverse a wage garnishment, you typically have to go through a legal process to reverse the court judgment.

You can also stop many wage garnishments by filing for bankruptcy. And creditors aren’t usually allowed to garnish income from Social Security, disability, child support , or alimony. Ultimately, the laws in your state will dictate how much of your income you’re able to keep under a wage garnishment.

Creditors can’t garnish all of the money in your paycheck. Federal law limits the amount that can be garnished to 25% of the debtor’s disposable income. State laws may further limit how much of your income lenders can seize.

Illinois Legal Aid Online. “ Understanding Wage Assignment .” Accessed Feb. 8, 2022.

West Virginia Division of Labor. “ Wage Assignments / Authorized Payroll Deductions .” Accessed Feb. 8, 2022.

U.S. Department of Labor. “ Fact Sheet #30: The Federal Wage Garnishment Law, Consumer Credit Protection Act's Title III (CCPA) .” Accessed Feb. 8, 2022.

Sacramento County Public Law Library. “ Exemptions from Enforcement of Judgments in California .” Accessed Feb. 8, 2022.

District Court of Maryland. “ Wage Garnishment .” Accessed Feb. 8, 2022.

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Five things to know about Tim Walz

On Tuesday, Vice President Kamala Harris decided on Minnesota Gov. Tim Walz as her running mate in her bid for the White House.

Minnesota voters gathered outside Governor Tim Walz’s residence react as Walz was announced as the running mate of Kamala Harris in the U.S. presidential election. (AP Video by Mark Vancleave)

Vice President Kamala Harris has picked Minnesota Gov. Tim Walz to be her running mate, turning to a Midwestern governor, military veteran and union supporter who helped enact an ambitious Democratic agenda for his state.

FILE - Minnesota Gov. Tim Walz, right, laughs as he stands with Fridley, Minn., Mayor Scott Lund during a visit to the Cummins Power Generation Facility in Fridley, Minn., Monday, April 3, 2023. (AP Photo/Carolyn Kaster, File)

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FILE - Minnesota Gov. Tim Walz applauds as President Joe Biden speaks at Dutch Creek Farms in Northfield, Minn., Nov. 1, 2023. (AP Photo/Andrew Harnik, File)

FILE - Minnesota Gov. Tim Walz listens after meeting with President Joe Biden, July 3, 2024, at the White House in Washington. (AP Photo/Jacquelyn Martin, File)

Minnesota Gov. Tim Walz speaks during a news conference for the Biden-Harris campaign discussing the Project 2025 plan during the third day of the 2024 Republican National Convention near the Fiserv Forum, Wednesday, July 17, 2024, in Milwaukee. (AP Photo/Joe Lamberti)

FILE - Minnesota Governor Tim Walz greets reporters before Vice President Kamala Harris speaks at Planned Parenthood, March 14, 2024, in St. Paul, Minn. (AP Photo/Adam Bettcher, File)

FILE - Rep. Betty McCullum, D-Minn., left, and Minnesota Governor Tim Walz, listen as Vice President Kamala Harris speaks at Planned Parenthood, March 14, 2024, in St. Paul, Minn. (AP Photo/Adam Bettcher, File)

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MINNEAPOLIS (AP) — Vice President Kamala Harris has decided on Minnesota Gov. Tim Walz as her running mate in her bid for the White House. The 60-year-old Democrat and military veteran rose to the forefront with a series of plain-spoken television appearances in the days after President Joe Biden decided not to seek a second term. He has made his state a bastion of liberal policy and, this year, one of the few states to protect fans buying tickets online for Taylor Swift concerts and other live events.

Some things to know about Walz:

Walz comes from rural America

It would be hard to find a more vivid representative of the American heartland than Walz. Born in West Point, Nebraska, a community of about 3,500 people northwest of Omaha, Walz joined the Army National Guard and became a teacher in Nebraska.

He and his wife moved to Mankato in southern Minnesota in the 1990s. That’s where he taught social studies and coached football at Mankato West High School, including for the 1999 team that won the first of the school’s four state championships. He still points to his union membership there.

Walz served 24 years in the Army National Guard, rising to command sergeant major, one of the highest enlisted ranks in the military, although he didn’t complete all the training before he retired so his rank for benefits purposes was set at master sergeant.

He has a proven ability to connect with conservative voters

In his first race for Congress, Walz upset a Republican incumbent. That was in 2006, when he won in a largely rural, southern Minnesota congressional district against six-term Rep. Gil Gutknecht. Walz capitalized on voter anger with then-President George W. Bush and the Iraq war.

During six terms in the U.S. House, Walz championed veterans’ issues.

He’s also shown a down-to-earth side, partly through social media video posts with his daughter, Hope. One last fall showed them trying a Minnesota State Fair ride, “The Slingshot,” after they bantered about fair food and her being a vegetarian.

He could help the ticket in key Midwestern states

While Walz isn’t from one of the crucial “blue wall” states of Wisconsin, Michigan and Pennsylvania, where both sides believe they need to win, he’s right next door. He also could ensure that Minnesota stays in the hands of Democrats.

That’s important because former President Donald Trump has portrayed Minnesota as being in play this year, even though the state hasn’t elected a Republican to statewide office since 2006. A GOP presidential candidate hasn’t carried the state since President Richard Nixon’s landslide in 1972, but Trump has already campaigned there .

When Democratic Gov. Mark Dayton decided not to seek a third term in 2018, Walz campaigned and won the office on a “One Minnesota” theme.

Walz also speaks comfortably about issues that matter to voters in the Rust Belt. He’s been a champion of Democratic causes, including union organizing, workers’ rights and a $15-an-hour minimum wage.

He has experience with divided government

In his first term as governor, Walz faced a Legislature split between a Democratic-led House and a Republican-controlled Senate that resisted his proposals to use higher taxes to boost money for schools, health care and roads. But he and lawmakers brokered compromises that made the state’s divided government still seem productive.

Bipartisan cooperation became tougher during his second year as he used the governor’s emergency power during the COVID-19 pandemic to shutter businesses and close schools. Republicans pushed back and forced out some agency heads. Republicans also remain critical of Walz over what they see as his slow response to sometimes violent unrest that followed the murder of George Floyd by a Minneapolis police officer in 2020.

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Things got easier for Walz in his second term, after he defeated Republican Scott Jensen , a physician known nationally as a vaccine skeptic. Democrats gained control of both legislative chambers, clearing the way for a more liberal course in state government, aided by a huge budget surplus.

Walz and lawmakers eliminated nearly all of the state abortion restrictions enacted in the past by Republicans, protected gender-affirming care for transgender youth and legalized the recreational use of marijuana.

Rejecting Republican pleas that the state budget surplus be used to cut taxes, Democrats funded free school meals for children, free tuition at public colleges for students in families earning under $80,000 a year, a paid family and medical leave program and health insurance coverage regardless of a person’s immigration status.

He has an ear for sound-bite politics

Walz called Republican nominee Donald Trump and running mate JD Vance “just weird” in an MSNBC interview last month and the Democratic Governors Association — which Walz chairs — amplified the point in a post on X . Walz later reiterated the characterization on CNN, citing Trump’s repeated mentions of the fictional serial killer Hannibal Lecter from the film “Silence of the Lambs” in stump speeches.

The word quickly morphed into a theme for Harris and other Democrats and has a chance to be a watchword of the undoubtedly weird 2024 election.

Hanna reported from Topeka, Kansas.

CNN values your feedback

Bangladesh’s ‘gen z revolution’ toppled a veteran leader. why did they hit the streets and what happens now.

Inside Bangladesh it’s being dubbed a Gen Z revolution – a protest movement that pitted mostly young student demonstrators against a 76-year-old leader who had dominated her nation for decades and turned increasingly authoritarian in recent years.

There was jubilation on the streets of the Bangladeshi capital Dhaka on Monday after Prime Minister Sheikh Hasina resigned and fled the country by helicopter following weeks of deadly anti-government unrest.

Hasina’s abrupt exit ends 15 years in power that has been marked by a stifling of civil freedoms and the heavy-handed use of security forces to crush dissent, critics and rights groups say.

An interim government headed by Nobel Peace Prize laureate Muhammad Yunus will now lead the country at the request of student protest leaders, the Bangladesh president’s press secretary confirmed to CNN on Tuesday.

Meanwhile, the country’s main opposition party has offered its full support to student protesters.

What began as peaceful protests by students against civil service job quotas morphed into a nationwide push to force Hasina out after demonstrators were met with a government crackdown that killed about 300 people, according to local media and agencies.

Hasina blamed the opposition for the violence and imposed internet blocks and an indefinite curfew across the country.

Her response inflamed the protesters further and, in the end, the world’s longest-serving female head of government had to quickly flee the country with her sister to India before crowds stormed her official residence, smashing walls and looting its contents.

Why were Bangladeshis on the streets?

Students began protesting on July 1 at the prestigious Dhaka University demanding an end to the government’s quota system, which reserves 30% of civil service posts for relatives of veterans who fought in Bangladesh’s war of independence from Pakistan in 1971.

Many of the country’s contemporary political elite are related to that generation – including Hasina, a daughter of Sheikh Mujibur Rahman, the widely regarded founder of modern Bangladesh who was assassinated in 1975.

The reserved roles were linked to job security and higher pay, and protesters said the quota system is discriminatory and favors supporters of Hasina’s ruling Awami League party.

Driving the anger was high unemployment levels in the country, especially among young people. Bangladesh has seen strong economic growth under Hasina, but it slowed in the post-pandemic era and is beset with high inflation and depleted foreign currency reserves. In a nation of 170 million people, more than 30 million are not in work or education.

The protests turned violent on July 15 and the government’s increasingly deadly response fueled their anger further, even after the Supreme Court rolled back most of the controversial quotas on government jobs and internet blocks were lifted.

On Sunday, at least  91 people were killed  and hundreds injured in  clashes  between police and protesters, the highest for a single day from any protests in the country’s recent history.

‘Blood in front of my university’

After Hasina’s resignation on Monday, celebration soon gave way to more violence as protesters torched several buildings, including the Bangabandhu Memorial Museum - the ancestral residence of Hasina’s father Mujibur Rahman – and Awami League offices, eyewitnesses told CNN.

“Things turned ugly really quickly,” said Raiyan Aftab, 23, a student at BRAC University, who said police shot at protesters outside the campus. “They shot everybody. There is blood in front of my university right now. There’s like 30 bodies… I couldn’t sleep all night.”

Across the capital, anti-government protesters were attacked by police and military personnel, witnesses said. At Dhaka Medical College, police opened fire on protesters, according to a CNN fixer at the scene.

Students and protesters at Dhaka University Campus and the Shaheed Minar, a national monument in the capital, were beaten by police as they assembled at these locations.

“I went to Shaheed Minar with my friends to celebrate. It was epic. There’s like thousands of people there, everybody went, regardless of class, heritage, religion, we’re all together and all the students met up with flags and everything. It was a historic moment,” said Aftab. “But it was short lived.”

Meanwhile, images appeared online of young people guarding Hindu temples as misinformation swirled online and a mob attacked a temple, according to the director of the Meherpur ISKCON temple.

Hasina’s legacy

The demonstrations became the ultimate challenge to Hasina since she secured a fourth consecutive term in January elections, which were boycotted by the main opposition party to protest what they said was a widespread crackdown on their ranks.

On Tuesday, Bangladesh President Mohammed Shahabuddin dissolved parliament and announced the release of opposition leader and former Prime Minister Khaleda Zia – a longtime Hasina rival – who had been jailed in 2018 on graft charges, which she denies. Other student protesters and those arrested on “false cases,” were also released, the president said.

Hasina’s political career spanned decades since returning from exile in the early 1980s following the assassination of her father and most of her family. In 1990 she led a popular democratic uprising against military rule and has survived several assassination attempts in the years since.

She first became prime minister in 1996 and served for one term before returning to power in 2008, ruling Bangladesh with her Awami League party until Monday.

Human rights organizations have warned that Hasina and her government were headed toward a one-party system, and critics expressed concerns over increased reports of political violence, voter intimidation, and harassment of the media and opposition figures.

During her time in power, rights groups say the government has used its cyber security law to crack down on freedom of expression online, arresting journalists, artists and activists, with reported cases of arbitrary detention and torture.

But Hasina had managed to weather many previous protests against her rule that erupted particularly during elections, so her resignation after five weeks of unrest was seen as sudden and unexpected.

Young people, who witnessed their peers shot and killed, fueled by dismal job prospects and who were tired of corruption and repression, could not be stopped by curfews, internet blocks or security forces.

“This might very well be the first successful Gen Z led revolution,” said Sabrina Karim, associate professor of government at Cornell University, who specializes in the study of political violence.

The military may have also played a role in Hasina’s resignation. Karim said in a statement that it “appears that the military were not always a unified force backing the Hasina regime.”

“While there are many photos and videos circulating of soldiers using deadly force and shooting at unarmed protesters, some members of the military called for an independent UN-led investigation into these atrocities,” she said. “In addition, some members of the military announced yesterday that they would not use deadly force on protesters who convened on the capital.”

What comes next?

On Tuesday, Bangladesh awaited the formation of the interim government and protest organizers with the Students Against Discrimination said they will meet with Bangladesh’s army chief.

Student leader Muhammad Nahid Islam said they hadn’t met all of their goals, and after Hasina’s resignation, the group wanted to “abolish fascist systems forever.” The leaders say they won’t accept a military-led or supported government.

Yunus, the student-backed head of the interim government, is an 84-year-old social entrepreneur and banker who won the 2006 Nobel Peace Prize for his pioneering microfinance work that helped alleviate poverty in Bangladesh.

Yunus will soon return to Bangladesh with the intention to take up the post “after a minor medical procedure in Paris,” a source told CNN. The Students Against Discrimination group also confirmed his return, telling CNN in a text message: “We are very delighted to say that Dr. Yunus has agreed to accept this challenge to save Bangladesh as per our student’s request.”

Speaking to CNN Monday, Yunus said he wanted to see the army hand control of the country to a civilian government.

“People are celebrating on the street and millions and millions of people all over Bangladesh [are] celebrating as if this is our liberation day,” he said.

While Hasina’s resignation was celebrated, some Bangladeshis expressed trepidation over the path ahead as the country attempts to fill a leadership vacuum.

“Hasina may be gone, but there is still a long road ahead for Bangladesh,” student Faiza Chowdhury, 25, told CNN. “Until our religious minorities and ethnic minorities are protected and justice comes to them too, the nation is not free.”

Protester Aftab was wary of the military holding on to power.

“We have to remember the last 15 years, the army didn’t do anything. They protected this regime so they can’t just come into power and become good guys. We know who they are and what they’re going to do,” he said.

Others were more optimistic. Another Bangladeshi studying in New York told CNN that “Gen Z made everything possible. They are the future of Bangladesh and they can create a better future.”

Tanbirul Miraj Ripon in Dhaka and CNN’s Samra Zulfaqar, Isaac Yee, Bex Wright, Teele Rebane, Lucas Lilieholm, and Esha Mitra contributed reporting.

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Calculate the future salary: The last step is to calculate the future salary using the formula below: future salary = current salary × (1 + average salary change) ^ number of years. Carrie's future salary will be: $50,000 × (1 + 5%)^10 = $81,444.73. Our future salary calculator also helps you calculate your real future salary, which considers ...

Further, an assignment of future compensation, not yet earned, whether payable by salary or fees, is opposed to public policy, and void.[xiii] In Huling, Brockerhoff & Co. v. Cabell, 9 W. Va. 522 (W. Va. 1876), the court held that an assignment of future wages, there being no contract of service, is invalid.

The calculator works by taking your current salary and increasing it each year by the percentage you specify. It repeats this process for the number of years you enter. The formula used is: Future Salary = Current Salary * (1 + Annual Raise Percentage / 100) ^ Number of Years.

Our interactive Future Salary Calculator is designed to provide you with a customized estimate of your future earnings based on your current salary, annual salary increase, and the number of years you want to track. It breaks down these projected earnings into yearly, quarterly, monthly, semi-monthly, bi-weekly, and weekly income, offering a ...

Start from there, then add $5,000 to $10,000 as your maximum for the range. So for example, if you want to be paid $90,000, start your range from that figure and end at $95,000 or $100,000. This ...

In today's competitive job market, securing a salary increase requires more than just a good work ethic and dedication. Salary increases that matter, demand a strategic, carefully thought out approach grounded in market research, quantifiable achievements, and a clear understanding of your value to the company. This guide offers you concrete, actionable strategies to justify […]

Here's what you need to know about estimating your future salary: Your major may affect your salary. The subjects you study in college are likely to affect your potential career earnings. Before choosing a major, think about what careers it could help you to pursue after graduation. Starting salaries for college graduates vary widely.

To locate the salary for your future career: Select the relevant industry for your future career Click on your future career (or closest option if not listed) Under Job Outlook, click on Local Salary Info and enter the zipcode of the city you want to live in after college Use the median value in the given salary range for that city.

Today, Payscale released the results of its ninth annual Salary Budget Survey, a key resource for HR and compensation professionals determining pay increase strategies for the upcoming year. The ...

The formula is. Salary Range Penetration = (Employee's Salary - Minimum Salary of the Range) / (Maximum Salary of the Range - Minimum Salary of the Range) Pay Equity Ratio: This ratio compares the average salaries of different demographic groups within an organization to identify any potential pay disparities.

Stay calm and remember you are not obligated to disclose your pay history. You can keep your response vague and say your pay has varied based on the type of work and position you've held. You could also give a salary range instead of an exact figure — for instance, $70,000-80,000 — to provide you with some flexibility.

The Future of Good Jobs: Projections through 2031 forecasts the number of good jobs in 2031 for workers ages 25-64 by 22 occupational groups and three educational pathways (bachelor's degree, middle skills, and high school). The report finds that while there will be good jobs on every educational pathway in 2031, only 15 percent will be ...

When using YNAB, you only assign the dollars you have on hand right now. This article explains how to look at upcoming expenses without assigning future income.

You know the one: What are your salary expectations? Read more on Job interviews or related topics Job search, Career transitions , Career planning ...

Thousands of anti-racist protesters have taken to the streets across the United Kingdom to counter a spate of far-right rallies planned to target immigration centers, seeming to thwart what looked ...

§ 28-2305. Contract to assign future salary or wages. (a) A contract attempting or purporting to transfer or assign salary or wages to be earned by the debtor, if made in the District of Columbia, is invalid and contrary to public policy and unenforceable, and if made outside the District of Columbia, is unenforceable in any court within the District of Columbia.

Example: "I am open to considering your company's entire compensation package, including equity, bonuses, stock options and other opportunities.". 3. Provide a salary range. If you arrive at the point in the interview when it's time to provide a number, you could offer a range versus a single figure.

Provide a salary range. The employer will very likely want a specific number, so another strategy is to give them a number or a range. Assuming your target salary is $47,000, you could say: I'm looking for a position which pays between $45,000 and $52,000 for a 35-hour work week.

Rather than offering a set number of the salary you expect, provide the employer with a range in which you'd like your salary to fall. Try to keep your range tight rather than very wide. For example, if you want to make $75,000 a year, a good range to offer would be $73,000 to $80,000. Keep your range to less than a $10,000 difference.

MIT economist and AI skeptic Daron Acemoglu argued that generative AI isn't intelligent enough to impact jobs. Big News / Small Bytes. Aug 8, 11:43 AM EDT. by Victor Tangermann

"CBS Evening News" anchor and managing editor Norah O'Donnell plans to leave her role at the anchor desk after the 2024 election and take on a new position at the network.

EXAMPLE ANSWER: "Based on my salary research and what I know about the position thus far, my understand is that $74,260 per year is both competitive and typical for the skillset you are hoping to land and the job's responsibilities.".

In-office six-figure jobs still dominate the landscape, accounting for about 88.26% of high-paying roles on Ladders. The number of total six-figure jobs jumped by 20% in the second quarter of 2024 ...

10â 000 Hours / Getty Images. Definition. Wage Assignment. Wage Garnishment. Money is taken from your paycheck voluntarily to repay debt. A legal procedure where a portion of an employee's earnings is withheld to repay debt. No court order required. A court order usually precedes wage garnishments. You have the right to stop the wage ...

Vice President Kamala Harris has decided on Minnesota Gov. Tim Walz as her running mate. The 60-year-old Democrat and military veteran rose to the forefront with a series of plain-spoken television appearances in the days after President Joe Biden decided not to seek a second term.

authorize and direct any future employer to pay ten percent (10%) of my earnings, or such proportion thereof as may be legally collectible by the social services district under this assignment, such payment to be made directly to the social services district. expressly release and discharge my employer from all liability to me on account of any ...

Inside Bangladesh it's being dubbed a Gen Z revolution - a protest movement that pitted mostly young student demonstrators against a 76-year-old leader who had dominated her nation for decades ...

Jonathan Fantini-Porter, the chief executive of the Partnership for Central America, the public-private partnership Ms. Harris helped lead, said the money had led to 30,000 jobs, with another ...

What adding a max Markkanen salary would do to the Warriors' payroll If the Warriors acquire Markkanen, then negotiate a new deal in July, his market rate is going to be something close to $200 ...

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Classify the Size Categorie using SVM - the burned area of the forest (Small, Large) and Prepare a classification model using SVM for salary data.

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Assignment17-support-vector-machines.

ExcelR Data Science Assignment No 17

Support Vector Machine Algorithm (SVM) :

Support Vector Machine or SVM is one of the most popular Supervised Learning algorithms, which is used for Classification as well as Regression problems. However, primarily, it is used for Classification problems in Machine Learning.

The goal of the SVM algorithm is to create the best line or decision boundary that can segregate n-dimensional space into classes so that we can easily put the new data point in the correct category in the future. This best decision boundary is called a hyperplane.

SVM chooses the extreme points/vectors that help in creating the hyperplane. These extreme cases are called as support vectors, and hence algorithm is termed as Support Vector Machine.

There are two different types of SVMs, each used for different things :

• Simple SVM : Typically used for linear regression and classification problems.

• Kernel SVM : Has more flexibility for non-linear data because you can add more features to fit a hyperplane instead of a two-dimensional space.

This assignment will study following Questions :

Problem Statement No 1 :

Classify the Size Categorie using SVM (forestfires.csv) - the burned area of the forest (Small, Large)

Problem Statement No 2 :

Prepare a classification model using SVM for salary data.

• Jupyter Notebook 100.0%

Request Letter for Salary 

[A request letter is written on any occasion when someone wants to politely ask for information, a favor, or permission for a particular matter. Below briefly focus on sample Request Letter for Salary. It is an official document that shows the intention of requesting something like a document, details, permission, or assistance. A request letter can be used as a document for reference in the future. One can also use this letter to request for an adjustment or changes to correct a situation. Customize the content according to the information you want to convey.]

Sender/Your name…

Job Designation and Department name…

Date: DD/MM/YY (Date on which letter is written)

Receiver/Authority name…

Sub: Request letter for salary

Dear (Sir/Name),

My name is (Name) a new employee in the (department name) with (ABC Industries). (Describe in your words). I hereby write this letter to bring to your kind attention that I have not received my salary for the past one/two/three months.

I started working in your company on (date) and I was put on probation for three months. (As company rules). According to my contract letter, it is clearly stated that my salary would be started after the successful completion of the probation period. (Describe actual cause and situation). Please find the contract letter attached herewith for your reference. I wish to request for my (Month/Months) salary.

Kindly take up this matter with the relevant department so that I can receive my salary. (Describe your requirements and Expectation). I depend on the salary for all my needs and this delay is constraining me financially. (Cordially describe your greetings). Please address this matter with urgency and resolve this issue at your earliest.

Thank you in advance.

Yours Sincerely,

Your name…

Contact info. and Signature…

Another Format, [Email Format]

To: Receive mail address, [email protected]

From: Sender mail address, [email protected]

Dear (Sir/name),

This is to inform you that the salary for the month of (Month name) that is due to me is yet to be credited in my account. (Describe in your words). I was waiting for the amount from the past few days as it was due a week before. (Describe all about the situation).

You are requested to check the matter and arrange to credit my account with my (Month name)’s salary as soon as possible. (Describe your requirements and Expectation).

Awaiting your confirmation on the same. (Cordially describe your greetings). Thanking You,

Contact info…

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