Morgan McKinley highlights substantial wage hikes of up to 30% for in-demand IT, life sciences, and finance roles, contrasting with a mere 3% for other sectors. Despite a tight labor market, predictions suggest cautious, modest salary adjustments overall, influenced by economic factors and rising minimum wages. The demand for specialized roles is driving this shift towards selective pay increases, abandoning the previous norm of across-the-board raises. Transparency in salaries is reportedly slow, despite increasing employee calls for it, illustrating a significant change in employer compensation strategies.
Morgan McKinley predicts that IT, life sciences, and finance specialists may receive pay hikes nearing 30%, while other professions can expect increases limited to 3%.
Salary increases, once a standard expectation, are now concentrated on addressing acute skill shortages, as firms move toward a more calculated compensation strategy.
Due to economic pressures and impending minimum wage increases, employers are adopting a cautious and targeted approach to salary rises, focusing on high-demand roles.
While 26% of companies anticipate salary increases across the board, a significant 69% will reserve their raises for specific, high-demand job roles.
Collection
[
|
...
]