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U.S. Salary Increase Budgets for 2011
The Conference Board, July 2010, Pages: 15
With a median increase of 2.5 percent in 2010, salary increase budgets remain historically low but projections for 2011 show a modest increase to 3.0 percent an indication that the economic recovery has not yet picked up enough strength to significantly raise salary budgets. Pay for performance rather than general increase remains a dominate trend. The data analysis in this report is based on the responses of 313 organizations and includes four employee groups: non-exempt hourly (non-union), non-exempt salaried, exempt, and executive.
Approaching the end of the second quarter of 2010, economic recovery in the United States appeared well underway. GDP growth has been positive in each of the previous three quarters with the first quarter of 2010 seeing the first net gain in employment since the fourth quarter of 2007. The growing optimism that the United States has emerged from recession is seen in the bottom half of the salary budget increases. The 2.50 percent median total salary increase budget for 2010 for each group except executives is the same rate as 2009, but 2010 saw a compression in the middle range of increase budgets (Table 1) which happens historically as recession eases.
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