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Pay Raise for 2008? Modest At Best

Contributed by mm | August 12, 2007 10:02 PM PST

How much pay raise can you expect in the coming year? USA Today quoted two independent reports that both indicated employers are not willing to give out more in 2008:

Employers are planning an overall salary budget increase of 3.9% next year, according to an August survey by WorldatWork, an association of human resource professionals that conducts one of the most comprehensive salary budget surveys. That follows similar modest salary increases of 3.9% in 2007.


...


Other data support the somewhat gloomy outlook. Employees should see only flat to modest growth in pay increases, according to the preliminary findings of a report to be released this month by Hewitt Associates, a benefits consulting firm based in Lincolnshire, Ill. Companies gave employees about a 3.7% average pay increase in 2007, with 3.8% projected for 2008.

This Post Has Received 42 Comments. Share Your Opinions Too.


Nabloid.com Commented on August 13, 2007

I think if a lot of companies only give a 3.8% pay increase here in Alberta, there would be a TON of strikes. It would have to be a 10% pay increase for many workers... with our strong economy, rising inflation, and labour shortages... the employees here demand more. Our inflation is higher and housing prices have almost doubled in the last two years, so the employees need to make more money if the employers are to attract more people to come live here.

It really depends where you live and what the local economy is like.


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