Last Updated on Mar 26, 2020 by James W
Financial security is something that every person strives to achieve. However, even if you have your dream job, it sometimes doesn’t offer the kind of financial compensation that you need to be free from monetary stress. If you’re looking for a pay raise, but you aren’t sure how to go about it, you aren’t alone. Nevertheless, these cities provide more frequent bumps in salary, and if you need a change of pace, moving might give you the life change you need and want.
Houston, Texas
Houston is the fourth largest city in the country, making potential jobs and pay increases more likely than anywhere else. In fact, Houston has one of the highest pay increase rates in the country, with annual pay raises totaling 3.2 percent, which is significantly above the national average. The city also has a total variable compensation package, such as bonuses and other rewards, that increase pay an average of 16.5 percent. Houston is also surrounded by smaller cities that offer similar pay raises such as Sugar Land and Baytown, which are often mentioned as some of the best places to live in the country.
Washington, D.C.
With an average projected yearly pay raise of 3.8 percent, Washington, D.C. is one of the best places in the country for employee raises. This is due to a high number of government jobs that have salary increases built into the contract. The city also has a wide array of industries that reward their employees for performance, such as business, management, and sales.
Minneapolis, Minnesota
Home to 30 Fortune 1000 companies and some of the largest privately owned businesses in the country, Minneapolis is a great place to live and work. Annual pay raises are three percent, putting it in the top five in terms of raises. Bonuses make up a large portion of performance-based pay raises, and some of the best in their field earn an average variable rate package totaling 13 percent of their base salary. The city’s diversified economy allows workers from many industries to find a great job that gives regular pay increases.
Boston, Massachusetts
The cultural and economic capital of New England, Boston has many jobs that provide more than adequate financial compensation. The main industries include healthcare, education, tourism, and financial services, each of which has their own perks and bonuses for employees. The city projects an average annual bonus package of 16.1 percent, which is the second highest in the country, trailing only Houston.
Dallas, Texas
The second Texan city on the list, Dallas has a number of opportunities for those with a background in sales, finance, accounting, marketing, or health care, although some of these jobs don’t give bonuses for performance. However, Dallas does enjoy an average annual pay raise of 3.5 percent, putting the city just behind Washington, D.C.
No matter where you choose to live, there’s no arguing that your location plays an important role in determining the amount of financial compensation you receive. If you feel you need to make more money or aren’t getting the credit you deserve, start checking out job opportunities in these cities today.
