Raise

A raise is an increase in ones salary, wages, commissions, or other source of income. The term raise usually refers to salary or 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 ones 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.