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U.S. Salary Increase Budgets for 2010 - Winter Update
The Conference Board, Jan 2010, Pages: 14
The global recession continues to takes its toll on American companies and workers. Revised projections for U.S. Salary increase budgets in 2010 have dipped below 3 percent for the first time in more than two decades, barely staying ahead of the forecast inflation rate. The revised median forecast for salary increase budgets for 2010 now stands at 2.80 percent for all employee groups except executives (2.75 percent). Responses from 285 organizations are included in the winter update.
About the Survey:
The responses of 285 organizations are included in this year’s updated analysis for four employee groups: non-exempt hourly (non -union), non-exempt salaried, exempt, and executive. Responses were received between October 30 and November 30, 2009. Results are report ed overall and by industry. While
in the analysis.
306 organizations responded to the survey, 21 indicated that they provided information for their specific business units. Their responses are not included. The tables in this report present the mean, median, 25th, and 75th percentiles of the reported compensation structure and the salary increase budgets. Any response of “0” was included as such in the calculations. Missing data were omitted. Respondents are from 11 different industry categories with the largest concentration in manufacturing. (For a full industry breakdown, see Table 6 on page 11.)
At the time of survey completion, less than 20 percent of respondents reported that their 2010 salary increase budgets would be approved by the end of November. Almost half said approval would come in December, with roughly 20 percent saying approval would be in January 2010.
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