About half of New Zealand’s workforce got a pay rise last year, according to a survey released today by Seek.
However, workers remain optimistic, with 83% of those surveyed expecting a pay rise in the next 12 months.
The survey, which polled more than 1,000 workers across a wide range of industries and age groups, revealed a clear gap between what employees expect to receive and what is actually happening in a cautious market.
Only 50% actually received a pay rise last year, despite most Kiwis expecting it. It also revealed that 46% of workers had never asked for a raise, and just 32% felt comfortable starting salary discussions.
Also, just 41% were happy with their current salary, which the company said was likely a reflection of cost-of-living pressures.
Most pay rises, 90%, came from employees staying with their current employer.
Among those who received an increase, company-wide adjustments were the main driver at 52%, while performance-based raises were much lower at 24%.
Workers in the industrial (57%), professional services (53%), and technology (52%) sectors were the most likely to receive pay rises over the past 12 months.
Younger workers were more likely than their older counterparts to secure pay increases through promotions. Millennials led the way, with 54% reporting pay gains through promotion, followed closely by Gen Z at 48%, both outpacing older generations.
Millennials were also the most proactive when it came to salary negotiations, with 60% saying they had asked for a pay rise.