Don’t Expect a Big Raise Next Year
Annual compensation budgets are stubbornly hovering around 3 percent.
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Despite a corporate tax cut, record low unemployment, and an accelerating economy, employers aren’t planning big increases to their salary budgets for next year, a new survey from Willis Towers Watson finds.
In a survey of 814 organizations, the consulting firm found that, on average, employers plan on giving out 3.1 percent pay raises in 2019. That’s an increase of about 0.1 percent from previous years. Before the recession, employers gave out 3.8 percent increases—since then, despite the improving economy, raises have hovered around 3 percent.