You can increase your Stats by leveling up your Jobs.

Name Description
POW Reprensents POWer. POW increases the damage of physical attacks.
VIT Represents VITality. VIT reduces damage from incoming physical attacks.
SPD Represents SPeeD. Enemies attack slower the higher the SPD stat is.
INT Represents INTelligence. INT increases the damage of elemental/magic attacks.
MEN Represents MENtality. MEN reduces damage from incoming magic/elemental damage, and raises critical hit rate.
LUK Represents LUcK. LUK increases the chance of weapon drops.
WIL Only seen in an enemy's stat page. Represents the enemy's MEN. [1]
  1. Reddit discussion on stats
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