Good news for working stiffs: pay freezes have declined sharply. In 2002, the percentage of companies experiencing salary freezes was 16%, an all time high. This year that number has dropped to 2%.
In 2005 and 2006, there should be an average salary increase of 3.6%, up from last year’s 3.5%.
Companies have also increased other incentives, such as non-cash awards and bonuses.
I have a semi-annual review coming up. We’re looking to add someone to our department to function as everyone’s assistant, but I “accidentally” noticed that the salary grade is similar to mine (though the actually salary will be lower). Theoretically, I should be moving up a grade shortly (with a pay increase to match) so the department doesn’t have two individuals at the same level.
However, if past performance is any guarantee of future results—and in this case, it could well be—I better not hold my breath.
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