Two surveys released July 21st found that employers have increased salaries in 2009 by the smallest percentage in decades and employers are projecting only slightly bigger raises in 2010.
Human resource consultants Watson Wyatt Worldwide and Hay Group estimate that median pay raises for 2009 ranged between 2% and 3% for the average worker. Top employees – those who “far exceeded expectations” – received raises averaging 4%, while lower ranked employees got only 0.2%.
For 2010, the firms are projecting raises of 3%.