EANE Announces Findings from 2015-2016 Tri-State Salary & Budget Survey: Actual and Projected Pay Increases Holding Steady

AGAWAM, MA — The Employers Association of the NorthEast announced today its findings from the 2015-2016 Salary & Budget Survey, with close to 100 companies participating from Massachusetts, Connecticut and Rhode Island.

The survey results included numerous break-out reports to meet employers’ diverse data requirements for compensation planning including salary and pay increases based on industry segment, job category and more.  The survey addressed salary increases for the period July 2014 to June 2015 and also forecasted salary changes for the period July 2015 to June 2016.

Overall, manufacturing employers participating in the survey indicated employees received an average of 2.7% increase for 2014/2015, while our non-manufacturing participants averaged a 3.0% increase. Both categories are holding steady with the forecast for pay raises. Our manufacturing participants projected an overall 2.8% increase for 2016, while our non-manufacturing group forecasted a 2.6% increase, on average. (Note: Factored into the data are companies that reported there would be no increase or decrease).

“Given the multitude of other factors competing for funds — from healthcare and other benefit costs to capital investments– it is not surprising to see limited increases,” said Mark Adams, Director of HR Solutions for the Employers Association of the NorthEast. “That said, we know that employers want to give raises to keep top talent.”

EANE has created a full summary of results on its website. Access summary here.

Serving employers in the Northeast for over 100 years, EANE provides resources for organizations to maximize employee engagement and retention while minimizing risk.  Over 900 members utilize the HR hotline, learning and development offerings and specialized HR services. Our annual round-up of benchmark surveys that take place throughout the year address wage and salary, executive compensation, workplace policies, budgets and more … all covering a variety of industries that represent our member companies.   www.eane.org

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