Hold firm on raises; salaries to rise 3.5 percent in ’07

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in Human Resources

Employers report that they'll be dishing out average pay raises of 3.5 percent for exempt and nonexempt employees in 2007, the same level that they're currently paying in 2006, according to a new Conference Board survey of 441 companies.  

The survey projects average pay for executives to increase 3.8 percent in 2007, up slightly from 3.6 percent this year.  

This year marks the fourth consecutive year that annual salary increases will run below 4 percent as employers try to keep a lid on compensation costs.

The Conference Board projects that the U.S. inflation rate will run below the average salary increases. The analysts predict a 3.1 percent rise in inflation for 2006 and 3.3 percent for 2007.    

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