Experts at Salary.com shows that 2006 salaries are expected to rise at the same rate as last year. The survey shows total pay raises at 3.7 percent nationally. Additionally, 35 percent of human resource managers reported that their 2006 budget for salary increases will be larger than 2005, while 9 percent anticipate a lower budget, and 55 percent reported no change.
Other trends that emerged from the survey include:
— Non-promotional salary increases were prevalent in 2005 with 75 percent of respondents indicating that they received a raise without receiving a promotion.
— The majority of respondents at 80 percent received their pay increases at a focal date, while 20 percent received their increase at an anniversary date.
— Increases for the middle southeast and the lower southeast sub-regions are projected to be slightly higher than in 2005, but the impact of the year’s hurricanes may affect these projections.
A copy of the full report is available at http://research.salary.com.