Your Must-Read Money Stories of the Week: Is This the End of the Annual Raise?

Your Must-Read Money Stories of the Week: Is This the End of the Annual Raise?

We’ve scoured the web to bring you our favorite and most useful money-related articles of the week. We read everything, so you don’t have to!

General Electric is embracing an "out with the old, in with the new" mentality, and other big businesses may soon follow suit. The manufacturing giant said this week it was revisiting how the company reviews and rewards its employees—including doing away with a yearly raise in lieu of other work perks. Here's why the benefits shake-up may be a welcome change. GE Considers Scrapping the Annual Raise — Bloomberg

Talk about best laid plans. While college and grad school enrollment soared 24% between 2002 and 2012—thanks to the government's push to finance grants and low-interest loans—new research finds that many students wound up dropping out and now can't or won't repay their debts. Find out what exactly went wrong. College Loan Glut Worries Policy Makers — The Wall Street Journal

On the job hunt? A recent study from CareerBuilder ranked the 10 industries where job growth is expected to skyrocket in the next five years. One interesting find: three out of the 10 sectors reflect the needs of an aging American population. Learn what other industries topped the list. The 10 Fastest-Growing Careers in the Next Five Years — Fortune

"Last Week Tonight" host John Oliver made headlines for buying—and forgiving—$15 million in medical debt. While the segment wasn’t without its share of theatrics, its ultimate goal was to show how easy it is for companies to buy debt and try to collect from consumers—even if those consumers are no longer legally liable. For His Latest Trick, John Oliver Forgives $15 Million in Medical Debt — The New York Times

The rise of the minimum wage continues, with the District of Columbia’s city council the latest to approve raising the wage to $15 an hour by 2020. The bill, which is expected to pass a final vote later this month, is estimated to raise wages for 114,000 workers, or about 14% of the capital’s workforce. However, not everyone is pleased. District of Columbia Approves $15/Hour Minimum Wage — Reuters


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