Inside these posts: Salary

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U.S. wages take sharp fall as recession lingers

Even at times of high unemployment in the past, wages have been very slow to fall, but not in this recession. To an extent rarely seen since the Great Depression, wages for a swath of the U.S. labor force this time have taken a sharp and swift fall.

Many laid-off workers who have found new jobs are taking pay cuts or settling for part-time work when they get new ones, sometimes taking jobs far below their skill levels.

Economists had wondered how far this dynamic would go in this recession, and now the numbers are starting to show it: Between 2007 and 2009, more than half the full-time workers who lost jobs that they had held for at least three years and then found new full-time work by early last year reported wage declines, according to the Labor Department. Thirty-six percent reported the new job paid at least 20 percent less than the one they lost. Get the full story »

Google giving 10% raises to workers

Moving to staunch the defection of staff to competitors, Google Inc. is giving a 10 percent raise to all of its 23,000 employees, according to people familiar with the matter. The raise, which will be given to executives and staff across the globe, is effective in January. Get the full story »

Some employers ready to give raises

There’s new hope for employees who haven’t seen a raise since the collapse of the economy. According to a recent CareerBuilder survey, nearly a third of employers are willing to negotiate salary increases in 2011 over concerns that talented employees will look to leave their organizations once the economy improves.

Some industries faired better than others — with IT employers, retail, sales, professional and business services reporting that they were the most willing to negotiate raises. Get the full story »

Citi sets raises, bonuses for top 25 execs

The top 25 executives at Citigroup Inc., except Chief Executive  Vikram Pandit, are getting multimillion dollar salary raises in stock and potentially much more in bonuses.

Citi released the amounts of the raises in a public filing for its top officers Friday. Get the full story »

Filing puts GM CEO pay at $9M in cash, stock

New General Motors Co. Chief Executive Daniel Akerson¬† will get a pay package worth $9 million in salary and stock to run the automaker. Get the full story »

2.6% the average raise in Chicago this year

From the Chicago Sun-Times | The average raise for Chicago workers this year was 2.6 percent, slightly higher than the 2.4 to 2.5 percent national average, according to report from Lincolnshire-based Hewitt Associates. Get the full story>>

Employers switch from furloughs to pay cuts

More government agencies and companies are cutting wages or pushing employees to work more for less to avoid layoffs. It’s a departure from furloughs that were common earlier in the recession and may be a sign the economy could be flirting with deflation. Get the full story >>