Business, Legal & Accounting Glossary
A raise is an increase in one’s salary, wages, commissions, or another source of income. The term “raise” usually refers to a salary or an hourly wage. A raise may be offered for any of several reasons. It may be promised as a periodic entitlement, such as every six months or year. A raise may be the result of merit. It may be offered to keep an employee who is contemplating terminating his employment. A raise is often measured as a percentage of one’s salary; statistics on the average raise in various industries are used to measure the perceived desirability of different job classes. A raise is considered an important means of keeping up with inflation and also of building personal wealth. Comparison of the average raise to inflation is one commonly used indicator of economic well-being.
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This glossary post was last updated: 6th February, 2020