Steady As She Goes!

This is the theme for the actual 2015 budgeted salary increases and projected 2016 budgeted salary increases based on the recently released WorldatWork 42nd annual Salary Budget Survey. The steady salary increase average of 3.0% is supported by the WorldatWork annual survey as well as several of the large national compensation surveys completed by the large compensation consulting firms and employee pay aggregators. Based on the WorldatWork survey, most salary increases will range between 2% and 4%. Though the economy is improving, employers are still hesitant to raise base compensation above pre-recession salary budgeted average increases ranging from 3.5% to 4.5%. With unemployment dropping below 6% and with the increase of “HELP WANTED” signs appearing on local businesses in ANYTOWN, USA, it will be interesting to see how long it takes for the 3% steady as she goes to become a fleeting notion.