Some of the best raises next year are likely to be found in Kansas City and Denver.
So says a new Aon Hewitt salary survey, which found that jobs in the energy, construction and mining businesses are where some of those raises are most likely to be seen.
The average salary increase for salaried exempt workers will be right around 3 percent, Aon Hewitt found. That’s up slightly from the 2.9 percent seen in 2013, and would be the highest annual hike since 2008, when increases were at 3.7 percent.
“While it appears that pay levels are slowly rebounding, we’re still far below pre-recessionary levels of compensation spending as companies continue to hold the line on fixed costs,” said Ken Abosch, compensation, strategy and market development leader at Aon Hewitt. “With a sizable talent pool available and increasing global competition for goods and services, companies aren’t feeling tremendous pressures to increase base pay to attract top talent. Instead, they are executing on a pay-for-performance vision that rewards employees based on a mix of business and individual results.”
It’s a different story in Kansas City and Denver, where folks are projecting 3.2 percent increases for 2014.
Overall, industries anticipating the highest increases were energy/oil/gas (3.9 percent); construction/engineering (3.5 percent); and mining/milling/smelting (3.3 percent).
The lowest? Education (2.6 percent); health care/medical services (2.5 percent); and government (2.2 percent).
About the Author
Lon is the former publisher of the Colorado Springs Business Journal and Colorado Springs Military Newspaper Group.He has served in leadership roles at various newspapers in Iowa, Florida and Wisconsin. Lon received his Bachelor of Arts in Communications from the University of Wisconsin, Eau Claire and attended the Kellogg Graduate School of Management at Northwestern University. Earlier in his career, Lon spent several years as a sea captain and held a 100-ton Coast Guard license. Lon is a former rugby player, referee and administrator and now coaches under 13 year old kids. Lon has served on the boards of numerous community and business organizations including Colorado Springs Leadership Institute, Peak Venture Group, CS Quality of Life Indicators Business Index Committee, Junior Achievement and is a member of The Colorado Thirty Group. Lon was given the “Making the Pikes Peak region a better place to live work and play” award by the CS Chamber of Commerce, was the VFW Post 1’s business citizen of the year.