Best/Worst Cities for Salary Growth

Posted on September 23, 2008
Filed Under Career Development

It’s commonly thought that living and working in large metropolitan areas equate to larger salaries, and living in smaller markets equate to smaller salaries. While that may be true in terms of starting salary, a recent study by Career Builder would indicate that when it comes to annual growth, it’s a different story.

The Bureau of Labor Statistics reports the average cost of living in the U.S. grew by 4.1 percent in all of 2007. But average wage growth was 3.4 percent, according to CBsalary.com. This year, the BLS reports the cost per living has already grown 5.5 percent. Not good news at all.

So where’s your best chance of earning a raise that keeps up with the cost of living or exceeds it? Here’s a snapshot of the top and bottom 5 cities with respect to salary growth. For the full list click here.

Fastest Wage Growth

College Station-Bryan, Texas
2007 salary growth: 9.5 percent

Gulfport-Biloxi, Miss.
2007 salary growth: 7.2 percent

New Orleans-Metairie-Kenner, La.
2007 salary growth: 6.8 percent

Redding, Calif.
2007 salary growth: 5.9 percent

Merced, Calif.
2007 salary growth: 5.7 percent

Slowest Wage Growth

Florence-Muscle Shoals, Ala.
2007 salary growth: 0.1 percent

Ocala, Fla.
2007 salary growth: 0.9 percent

Alexandria, La.
2007 salary growth: 0.9 percent

Kalamazoo-Portage, Mich.
2007 salary growth: 0.9 percent

Saginaw-Saginaw Township North, Mich.
2007 salary growth: 1 percent