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.