2007 Pay Increases Won’t Budge Much

For the fourth straight year, 2007 pay increases for most salaried workers will stay below 4 percent, according to the Conference Board.

Wage increases will vary by industry, with finance/insurance higher than the services sector.

The table below shows salary increase budgets in 2006 and 2007.

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All Industries 2006 Median 2007 Estimated Median
Non-exempt 3.5% 3.5%
Exempt 3.5 3.5
Executive 3.6 3.8
Commercial Banking
Non-exempt 3.5 3.5
Exempt? 3.5 3.5
Executive? 3.5 3.8
Diversified Financial Services
Non-exempt?? 3.7 4.0
Exempt?? 3.7 3.9
Executive 3.7 3.8
Diversified Services

Non-exempt

3.5 3.6
Exempt 3.5 3.5
Executive 3.8 3.7
Insurance
Non-exempt 3.8 3.9
Exempt 3.9 3.9
Executive 3.8 4.0
Manufacturing
Non-exempt 3.5 3.5
Exempt 3.5 3.7
Executive 3.7 3.8
Trade
Non-exempt 3.5 3.5
Exempt 3.5 3.5
Executive 3.5 3.6
Utilities
Non-exempt 3.5 3.5
Exempt 3.5 3.5
Executive 3.5 3.6

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