EARLY 2018 SALARY PROJECTIONS
CNI Recruiting publishes salary projections every year. This year, we are publishing Early 2018 Salary Projections in this article and Final 2018 Salary Projections on November 7, 2017, so please mark your calendars!
U.S. SALARY PROJECTIONS FOR 2018
CNI Recruiting compiled Early 2018 Salary Projections from surveys performed by the following respected sources. The average of the survey results is a salary increase of 3.1%.
• Aon Hewitt (Human resources services) 3.0%
• Willis Towers Watson (Data services) 3.0%, 3.1% for executives
• WorldatWork (Compensation data) 3.1%
• Economic Research Institute (Compensation data) 3.2%
• The Conference Board (Business research) 3.0%
• Hay Group (Compensation consulting) 3.0%
• Society for Human Resource Managers (Human resources membership firm) 3.2%
Economic Research Institute
- Gross domestic product in the U.S. is expected to increase by 2.5 percent next year, up from 2.3 percent in 2017 and 1.6 percent in 2016.
- Inflation is forecast to slow to 2.4 percent, down from 2.7 percent this year but higher than the 1.3 percent reported for 2016.
- The unemployment rate is predicted to fall slightly to 4.6 percent, down from 4.7 percent this year and 4.9 percent in 2016.
Only small variations of salary projections are expected within employee categories in 2018:
Nonexempt hourly non-union 3.1%
Nonexempt salaried 3.1%
Exempt salaried 3.2%
Industries with the highest projected salary increases for 2018 include Construction, Professional Scientific, Technical Services, Wholesale Trade and “Other Services” with increases of 3.4 to 3.5 percent. Industries projecting the lowest salary increases of 2.6 – 2.9 percent, include Public Administration and Educational Services.
Organization size is a deciding factor for projected 2018 increases, with smaller organizations (i.e., 499 or fewer employees, or $30 million or less in revenue) projecting higher increases than larger companies.
CNI Recruiting recruits Sales, Marketing, Operations and IT candidates at all professional levels for Commercial and Healthcare organizations. We are located in New Jersey and recruit throughout the U.S. We maintain an internal database of over 120,000 qualified candidates that allows us to quickly refer candidates who meet your job, cultural and budgetary requirements. Our referral fee is only 15% of candidate first year base salary including executive searches. We provide World Class Service and a market leading guarantee.
Please contact us today for recruiting assistance. Just call (908) 874-6148, email [email protected], or fill out the form below. We will exceed your expectations.