According to a recent survey conducted by the large consulting firm Mercer, employers are planning to increase salaries by an average of 2.9 percent in 2014. The survey targeted 1,500 mid and large size companies from 14 industries which employ approximately 10 percent of the U.S. civilian workforce. While it can be challenging to compare salary trends from a large company to those in schools, the data does provide an important barometer for K-12 Talent Managers to consider as discussions continue around educator compensation in districts and states across the country.
While a 2.9 percent increase may not seem high, it eclipses the 2.8 percent jump that employers forecasted for 2013. It is also the biggest annual increase in several years with 2.1 percent salary growth predicted for 2009, 2.3 percent in 2010, 2.7 percent in 2011, and 2.7 percent in 2012.
The Mercer survey, which is published yearly, also includes information on executive, management, office, or clerical roles when it comes to long-term and short-term incentives; budgets; recruiting and retention programs, and more. If you’re interested in learning more, visit Mercers website.
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