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Fortune
Fortune
Paige McGlauflin, Joseph Abrams

Companies are ditching the standard 3% annual pay raise

Ruth Thomas Inflation Payscale
A woman dressed in business attire deposits a check using a cell phone. (Credit: AndreyPopov—Getty Images)

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The standard 3% annual pay raise will no longer cut it, largely due to inflationary pressures on everything from gas to household goods and higher employee wage expectations.

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