NU Online News Service, Sept. 27, 2004, 2:40 p.m. EDT
The typical employee can expect to get a merit raise of about 3.5% in 2005.[@@]
Researchers at Hay Group Inc., Philadelphia, are making that forecast in an analysis based on data in the human resources consulting firm’s compensation database. The database includes compensation information for 3 million employees at 1,700 employers.
Before 2001, merit raises averaged about 4%, but the average was only about 3.5% for general market employees this year, and the average probably will stay the same next year, Hay analysts predict.