What’s your company’s raise budget look like for 2013?
According to a number of studies, the average base employee pay increase is likely to be around 3%, which is a slight increase from previous years.
Tech workers see greatest gains
Robert Half International’s 2013 Salary Guide reports do a nice job of breaking down pay by industry.
According to Robert Half, pay in the tech sector is expected to see the greatest 2013 average raise, with an increase of 5.3%. Mobile app developers in particular will see a salary increase of 9% on average.
Workers in the accounting and finance sector can expect to see a 3.3% jump in pay, and administrative and office support professionals are expected to see increases of 3.5%.
A report from WorldatWork found workers in the energy industry should see average raises of between 3.8% and 3.9%, and government workers and educators are likely to see a 2.1% bump.
Another trend that’s likely to continue next year: Rewarding top performers with the lion’s share of the salary increases. WorkatWork’s Kerry Chou says top performers can expect to see raises that are roughly 50% greater than average workers.
If your firm’s pay is likely to remain frozen, you’ll probably want to look into what else you can offer. A recent study by Glassdoor gives a good idea of what workers are looking for.
The study highlighted employees’ top work-related resolutions for 2013. While it’s no surprise a salary raise topped the list (32% of workers cited it), employees would also like to:
- Develop leadership skills (24%).
- Improve their performance (21%).
- Attend work-related training (16%).
And if money’s tight …
If your firm’s not in a position to offer much in the way of raises, you can take heart from the recent Keep Good Going Report, sponsored by New York Life.
The report says that although seven out of ten Americans (71%) say they would be happier if they had more money, few are willing to make trade-offs between their families and their finances.
In fact, even the promise of a 50% pay increase wouldn’t be enough for most Americans to spend less time with their children and families.