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Women get more raises, but men get more money, study finds

Friday, November 16, 2012  
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Women received more pay raises than men during the first nine months of 2012, but men earned larger pay raises, according to a new Pay Raise Index by TribeHR.

The Pay Raise Index, based on salary and workplace recognition data from 20,000 employees at 2,200 small and medium-sized companies, reveals 7.4 percent of women received raises in the first three quarters of 2012, while only 6.2 percent of men received raises. However, men were three times more likely to earn a salary increase in excess of 25 percent. Looking at pay raises of 5 percent or more, 60 percent went to men and 38 percent to women.

"It's interesting to see that women seem to be overtaking men in terms of the number of pay raises given, but there's still a stark imbalance in the size of salary increases awarded,” according to TribeHR CEO Joseph Fung. "Employee satisfaction and workplace culture play an increasingly larger role in a business’ brand reputation — and those who pay fairly and amply recognize employee contributions will reap the benefits when it comes to hiring and talent retention.”

Overall, the TribeHR Pay Raise Index reported the size of the average salary increase for employees at small and medium-sized businesses grew from 8 percent in Q1 to 13 percent in Q2, but then dropped to 11 percent in Q3.

TribeHR also examined the correlation between salary increases and employees who had received documented recognition for a job well done. The vast majority -- 85 percent -- of documented recognition was given by peers. Employees who received recognition from peers were two to three times more likely to earn a pay raise.

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