I blogged a while ago about salary predictions for 2007; what about finding percentages in salary increase for 2008? That was the topic of a Money.CNN.com article. Everyone's situation is different, but the average pay increase doesn't look too impressive in 2008, according to a salary survey by human resource consulting firms Hewitt and Mercer. They are surveying up to 1,000 companies, and so far their preliminary salary survey results show an average pay increase of 3.8 percent next year.
According to Ken Abosch, the head of Hewitt Associate's compensation practice, the typical pay raise increase is expected to be tame even for star employees. Because base salary is one of a company's largest expenses, there's a push to keep a lid on fixed costs. That said, the area where employees may earn more money will be in bonuses. Of course, there are always exceptions; will you get a raise in 2008? Keep reading!
Wondering how to calculate a pay increase? Find out with our salary calculator.