Aon Hewitt: Outlook For Salary Increases "Bleak"
by: Andrew Schneider, August 16, 2012 4:08:00 am
The survey projects salary gains in Houston will average 3.3% in 2013. That’s better than the national average, expected to rise just %. But both fall far short of pre-recession salary hikes, which averaged 4% or higher.
Ken Abosch is Aon Hewitt’s marketing, strategy and development practice leader.
“The results are a continuation of a fairly bleak outlook from a salary increase standpoint. Most organizations are increasing their budgets just slightly, about one tenth of a percent, in terms of salary increase spending.”
Abosch credits higher-than-average raises in the energy sector for lifting Houston’s numbers. He says companies are likely to limit raises even after the economy rights itself as a way of holding down fixed costs. But he says they are budgeting much more heavily for bonuses.