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07/26/06
Big Raise This Year? Don\’t Hold Your Breath
Filed under: Employment
Posted by: site admin @ 8:50 am

The Society for Human Resource Management (SHRM) reports that raises are averaging under 4 percent for the fourth straight year. This year, annual pay raises will average only 3.5 percent and are expected to remain at about the same level through 2007, according to projections released by The Conference Board.

It’s the fourth consecutive year that annual salary increases will be less than 4 percent as employers try to keep a tight rein on their budgets. Annual pay raises for 2007 in all industries and for all three employee categories (non-exempt, exempt, and executive) will continue to hover around 3.5 percent. Pay raises for executives will average slightly higher than those of the other groups, at 3.8 percent.

Source: www.shrm.org/hrnews and Career Masters Institute

– Jan Melnik, MRW, CCM, CPRW, President, Absolute Advantage … Don’t forget to check out careerhub.typepad.com for the best in career search advice from the career industry’s leading experts

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