While many employees are grateful just to have a job, some are frustrated that the days of sizable raises seem to have disappeared. Many workers may feel that they are “treading water”. What is likely to happen on the wage front in the year ahead?
Most private sector workers can expect about a 2.0% wage increase in 2013, a slightly faster rise than in 2012. Professionals in high demand, such as software engineers, will command considerably larger Increases. In contrast, budget pressures will limit pay raises in the public sector.
A continued high level of unemployment and companies’ need to control costs will constrain wage increases for at least another year. Higher taxes, health care costs, and inflation will offset pay raises for many.
Yet, many organizations will try to reward their high performers so that 2013 should still be a year to do your best.
“Man on Tightrope”.2011.goodriskgovernancepay.January 30,2013