September 4, 2012
U.S. salary merit increases for 2013 are forecast to be 3.0 percent, at median, according to a survey of 270 large, multi-national companies., according to survey results released by Empsight International LLC.
These survey findings, released by Empsight International LLC, are in spite of recent mixed economic news relative to the growth levels in the United States and the continued uncertainty relative to the sovereign debt issue in Europe. This forecast is also 1.3 percent above the 1.7 percent all items inflation index through June, representing a real gain in income.
This is encouraging to say the least. Maybe things are finally turning around!
“Large companies have moved away from salary freezes over the past two years and now have significant concerns in relation to employee retention, pay competitiveness, and skill shortages,” said Vincent McHugh, managing director of Empsight and author of the survey. “With graduate unemployment for those 25 and over at 4.1 percent, those concerns are well founded for professional positions,” he added.
Other survey findings include the following:
Empsight conducts a survey on salary Merit Increases and Merit Forecasts twice per year at mid-year and at year-end, and distributes them free to clients to assist them in their budgeting process.