“The recovery from the economic downturn appears to be leveling off, and U.S. companies are paying close attention to cost control,” commented Charles Peck, compensation specialist for The Conference Board. “This continued caution is reflected in the pattern of salary increase budgets this year compared with last year’s projections.”
For all industries as a group, 2005 salary increases are averaging 3.5%, virtually identical to last year’s projections. This is true for all three employee groups: nonexempt, exempt and executive. More info: www.conference-board.org.