The survey, conducted in May, provides data from 555 participants on their 2016 pay raises and their increase budgets for 2017.
2016 Merit Increases
This year’s BLR Pay Budget Survey is practically a replay of last year’s survey with 17.9% (16% last year) of employers awarding merit increases of up to 2.5% (averaged across all employee types). And, 41.8% (42.5% last year) are awarding increases between 2.51% and 5%. Another 4.1% are awarding increases from 5.01 to 10% of base pay, and a mere 1.6% are awarding more than 10% merit increases in 2016.
2017 Merit Increases
A mere 8% of survey participants have decided and/or approved their pay budgets for 2017, leaving 92% undecided as of the end of May. Of those who have decided, on average across all employee types, 12.3% of employers expect to offer merit increases of up to 2.5% and 39.1% plan 2.5-5%.