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Average Increase 2.6 Per Cent In 2014

Canadian employees can expect an average salary increase of 2.6 per cent in 2014, says a national survey of public and private sector employers conducted by Hay Group. The projected increase is lower than the projection for 2013 (at 2.9 per cent) and continues to be relatively close to projected increases of 2.8 per cent for American employees. U.S. average projections are also lower for 2014 than they were a year ago. This year, the highest increases are in the oil and gas sector at four per cent despite the strategic issues in the industry that have caused some moderation in long-term investment. Not surprisingly, Newfoundland and Labrador (at four per cent), Saskatchewan (at 3.4 per cent), and Alberta (at 3.2 per cent), lead the country, buoyed by the demand for key skills in the resource industries despite the challenges in these markets. Overall, the public sector is forecasting noticeably lower salary increases (at 2.3 per cent) than is the private sector (industrial and financial at 2.7 per cent).

Courtesy of Benefits and Pensions Monitor website News Alerts

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