2020 U.S. Salary Increase Budgeting Considerations
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In this white paper:
A review of salary trends in the United States for 2020.
Real salary increases in 2020 will be at their lowest levels in 40 years.
Details about new overtime eligibility rules taking effect January 1, 2020.
Best practices on how to implement salary increases in the new year.
Salaries are projected to remain flat or move just slightly up in 2020. While the projected 2020 U.S. salary increases remain flat at 3.0% (median) and 3.2% (mean), there are additional trends that should be considered when budgeting.
Average promotional increases have been creeping up from 8% to almost 9% over this last decade. Approximately one-half of businesses budget for these increases.
The U.S. economy experienced a high pay growth period in the 1970s and 1980s in response to high inflation. But from the early 1990s to the present, the CPI stabilized to 3% and below.
More info and insights like the above found inside this white paper.
