Salary Increase Budgets for 2021: A Wage Crunch Is Coming—but It's Delayed | The Conference Board
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Salary Increase Budgets for 2021: A Wage Crunch Is Coming—but It's Delayed


November 2020 | Research Report

The Conference Board Annual Salary Increase Budget Survey shows that employers have already started to lower their salary budgets. The 2020 average for actual total salary increase budgets, including exempt, executive, and nonexempt salaried employees, decreased from 3.19 percent in 2019 to 2.60 percent in 2020. Many respondents indicated their budgets are not yet finalized due to uncertainty created by the COVID-19 crisis.

 

AUTHORS

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Gad Levanon, PhD

Vice President, Labor Markets
The Conference Board

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Judit Torok

Senior Research Analyst

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Frank Steemers

Economist
The Conference Board


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