Salaried Employees To Get 4% Pay Hikes

Pay increases for salaried employees will increase an average 4 percent this year and next across all industries, according to a survey released Thursday.

The increase, which includes both executives and non-executive workers paid by salary, will represent an improvement after inflation this year if prices rise 2.8 percent as expected, the Conference Board said. It projects 3.7 percent inflation in 1997.

For a third straight year, companies’ budgets for salary increases stand at the lowest level since the private research group began tracking salary trends in 1975, the Conference Board said.

“While many companies say they will be increasing their work forces this year, they will continue to maintain rigorous cost control,” Charles Peck, Conference Board compensation specialist, said in a statement.