Category Archives: Salaries

What to Do If You Have to Retire Early

When do you plan to retire? When you’re 65, 70, 75?  Five years from now, ten years from now? What would you do if something happened and you had to retire next month? Would you be prepared? Would you know what to do? Many workers find themselves suddenly retired—sometimes years ahead of their target date. Some people end up retiring early because of a job loss, a health problem or caregiving responsibilities. It happens more often than you may realize. Read the rest

9 Things Never to Say in a Salary Negotiation

Do you wish you made more money? Who doesn’t? When you were first offered your current position, did you just accept the salary offered? How often do you think to yourself, “I wish I had negotiated for a better salary?” Did you even consider negotiating, or were you just grateful to be offered a job? If it’s time for your annual review, are you preparing to ask for a raise? Or perhaps you’re nearing the end of the job interview Read the rest

The State of the Pay Gap

Last Tuesday, April 2, 2019, was Equal Pay Day — the day that symbolizes how far into the year women must work to earn what men earned in the previous year. Despite passage of the Equal Pay Act of 1963, which requires that men and women in the same work place be given equal pay for equal work, the “gender gap” in pay persists. Earnings for women who work full-time are only about 80% of their male counterparts’ earnings. There Read the rest

Countdown to Retirement

Do you know how much you’ll need for retirement? Are you on track to get there? If not, do you have a plan? Have you even started thinking about retirement? Or do you feel like you’re so busy trying to raise your family and pay your current monthly bills that you can’t possibly start thinking about saving for retirement? If this is where you are right now, you might be in for a rude awakening. Your quality of life could Read the rest

Minimum Wages Increase for Some U.S. Workers

The federal minimum wage —which stands at $7.25 per hour ($2.13 for those who earn tips)— has not been raised since 2009. In the absence of action at the national level, many states have raised their own minimum wages. This will result in some U.S. workers seeing increased pay in 2019.

According to the U.S. Department of Labor (DOL), there are 29 states plus the District of Columbia, Guam, and the Virgin Islands with minimum wage rates set higherRead the rest

IRS Warns Employers: Be Alert to Identity Theft and W-2 Scams

The Internal Revenue Service (IRS), State Tax Agencies and the Tax Industry are working together to encourage both individual and business taxpayers to take steps to protect their tax data and identities in advance of the 2019 filing season.  Just like individuals, businesses may have their identities stolen and their sensitive information used to open credit card accounts or used to file fraudulent tax returns for bogus refunds. Employers also hold sensitive tax data on employees, such as Form W-2 Read the rest

Weigh-In on Overtime Rule

The U.S. Department of Labor’s Wage and Hour Division has announced that in the upcoming weeks, it will hold public listening sessions to gather views on the Part 541 white collar exemption regulations, often referred to as the “Overtime Rule.”

Issued under the Fair Labor Standards Act, these regulations implement exemptions from the overtime pay requirements for executive, administrative, professional, and certain other employees. The Department plans to update the Overtime Rule and is interested in hearing Read the rest

3 Rules on Downsizing for Retirement

Many of us look forward to the day when we can “hang up our hats and call it quits.”  We look forward to a time when we no longer have to punch the proverbial clock; when we can get up whenever we feel like it—if we feel like it. But how many of us will be in a financial position to retire when the time comes? Lots of people talk about retiring. But most don’t have a clue if they Read the rest

7 Easy Ways to Encourage Employees to Save More for Retirement

Early in our careers many of us are so busy trying to pay bills and make it to the next pay check that we contribute very little (if anything at all) to our retirement plans.  But time flies. We look up and realize that we are close to retirement with very little saved. We may ask ourselves how we could possibly save more so that we are ready to retire when the time comes. The author of this article offers … Read the rest

What Employees Want More Than a Raise

The salary you are paid can determine your quality of life now and in the future.  Salary can be the most significant aspect of any job. After salary, benefits offered by an employer is usually the next major factor of consideration in determining whether a candidate accepts a job offer or not. In fact, Glassdoor statistics state that 57% of job candidates say that benefits and perks are among their top considerations before accepting a job. Benefits can also be Read the rest