Sneak Peek: Q3 2011 Compensation Trends

Coming Soon: Q3 2011 Results for The PayScale Index

By Bridget Quigg,

Compensation trends, you need to know them. Most revenue doesn’t go to utility bills and advertising, it pays labor costs. Streamlining and updating your pay strategy to stay competitive in your market helps you survive. How well are you keeping up with the trends? PayScale is here to help. We release our Q3 2011 results for The PayScale Index in one week, on October 7.

Is your competition handing out raises in 2011? Hiring new talent? PayScale surveyed them to find out and now we’re giving you their answers. Download PayScale’s Compensation Practices Survey for 2011 and get up-to-date on your market.

In which metros are wages growing fastest post-recession?

Are some industries’ wages still falling?

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Pay for certain jobs is growing rapidly, but which jobs?

The Facts on Wage Trends

The PayScale Index (US) follows the change in wages of employed US workers, revealing trends in compensation for jobs over time. It specifically measures the quarterly change in the total cash compensation of full-time private industry employees nationally, with additional detail on the 20 largest metropolitan areas, 15 industries, three company sizes and, starting on Oct. 7, 19 job categories.

We’ve run the preliminary numbers and have some interesting facts to share with you.

– Wages for workers in the finance and insurance industry are up 1 percent over a year ago. It’s a small increase, but a positive trend.

Washington, D.C. private industry workers’ wages have grown to their highest levels seen since before the recession.

– Wages for workers with jobs in manufacturing, regardless of industry, are still suffering.

Seattle-area wages did not increase dramatically like they did last quarter, but they didn’t drop either. They are maintaining their recently found strength.

– Workers with jobs in marketing and advertising are finally seeing some raises after a dry spell for most of 2011.

– Wages for Human Resources professionals grew last quarter nearly a full percent, a better performance than the previous two quarters of 2011.

Small company’s (less than 500 employees) payrolls remain stagnant, while workers at large companies (1,500+ employees) have enjoyed two quarters of wage gains.

– Wages in mining, utilities and healthcare industries stand out from the crowd with consistent, healthy, as if they operate in a different economy than other industries.

Want More?

Look forward to more detailed information once we have run the final numbers and publish the Q3 2011 PayScale Index results next week.

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