Page 80 - Money - November 2018

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Unemployment is low, and many think they deserve a paycheck bump. BY JULIA GLUM

YOU THINK OF IT as you drag organizations, seeing jobs posted,
yourself out of bed every or getting calls from recruiters,”
Monday, grumble it under your Saah says. “There’s a natural
breath at annoying meetings, and feeling that a person can go out
message it to coworkers behind and get a higher-paying job if they
your boss’s back: “I don’t get paid choose to.”
enough for this.” At the same time, many six-
But even if you earned more, figure earners are living in
chances are you still wouldn’t expensive places. For example, if a
think your salary was high person has a high-profile job in
enough. technology, they’re likely to be
According to a recent survey located near San Francisco.
of 2,800 U.S. workers by staffing They’re close to headquarters for
firm Robert Half, 46% of respon- companies like Google, Apple, and
dents said they were underpaid, Facebook, but they’re also shelling
including 37% of respondents who out an average of $3,500 a month
earn more than $100,000. Yes, you for rent.
read that right—a third of people When inflated costs for things
who already earn six figures want like childcare are tacked on,
bigger paychecks. six-figure earners start feeling the
Per Census data, the median strain. As of this past summer,
U.S. household income is $61,372, four-person Bay Area households
or roughly half that, so the stat that earn up to $117,400 a year are
may seem ridiculous. But accord- classified as low-income by the
ing to Steve Saah, executive federal Department of Housing
director for Robert Half Finance and Urban Development.
& Accounting, there are a few “It’s not the same as making
solid reasons that making more achieved in May. Saah points out 100 grand in a smaller city with a
than $100,000 a year just doesn’t it’s even smaller among college different quality of living,” Saah
cut it for some. graduates over age 25 (about 2.1%), says. “That six-figure income—
The most simple? Human as well as in high-paying fields like while on paper it looks fantastic—
nature. finance and law. may not necessarily translate into
“We probably all think in some That means supply and demand what they might expect their
way, shape, or form that we are in workers’ favor, especially if standard of living will be.”
naturally deserve to earn more they’re in those specialized jobs. The survey didn’t tap into perks
than we do,” Saah says. And workers overall know compa- as an aspect of compensation, but
The survey comes at a time nies are willing to pony up to attain Saah says job candidates should
when unemployment is low. In and retain talent, thus making them consider those factors as well.
August, the Bureau of Labor far more confident of their worth. “Employees may feel underpaid,
Statistics pegged the national “A lot of people are getting but the bigger question is, what are
unemployment rate at 3.9%, up opportunities put in front of them, they looking for, and is it checking
only slightly from an 18-year low whether that’s advertising from the right boxes?” he says.

MONE Y. C O M NO VEMBER 2 018 ILLUSTRATION BY MIKEY BURTON