- A new survey of nearly 1,000 major employers revealed that pay raises in response to inflation are less than projected last Fall.
- According to a survey by benefits-advisory firm Mercer, employers are giving average annual merit raises of 3.8% and total compensation increases of 4.1%, the highest since 2008 but lower than surveyed workers expect (+6.7%).
- Companies are moderating raises due to rising recession fears.
- “Unless you have rare skills that are in demand, you are unlikely to get a special increase”.
Workers Have High Hopes for Pay Raises, Companies Not So Much