Compensation.BLR.com conducted BLR’s greatly expanded annual salary survey in early 2006. Pay rates for the average exempt worker (employees not eligible for overtime) will increase 4.0% in 2006 – just under the 4.1% cost of living index in 2005. Only one position, Wholesale and Retail Buyer, will show a salary decline in 2006 (down 0.19% to $43,192).
Unlikely Rock Stars
“This year’s top gainers are very different,” commented Catherine Moreton, BLR’s compensation editor. “We theorize that globalization pressures are forcing companies to focus on improving their cost structures, making purchasing managers the unlikely new corporate rock stars. Likewise, marketing and promotion managers will be amply rewarded to increase sales and market share.”
Health care to see healthy pay increases
Middle managers will see healthier raises than lower level employees. Shortages of healthcare workers mean they can continue to expect “healthy” raises: Two of the top salary increases in this year’s survey were for Pharmacists (up 5.44% to $89,230) and Registered Nurses (up 4.96% to $54,914). Engineers and non-management computer positions, big gainers in past years, will see relatively anemic pay raises.
Greatly Expanded Salary Surveys for 2006
BLR’s 2006 survey has a number of significant improvements from previous years. It now has national salary data on 100 jobs, the number of industries has increased from 8 to 25, and many more state and metropolitan areas are included.
A free Executive Summary of BLR’s 2006 Survey of Exempt Compensation is available at http://www.blr.com/landingpr/?landingPRID=10&source=PRS&effort=112
Old Saybrook, Conn.-based Business & Legal Reports, Inc. has published plain-English HR and compensation compliance and training materials since 1977. Contact Catherine Moreton at 800-727-5257, ext. 2182.