Your salary set to increase in 2011: report
Yes, after an endless loop of terrible economic news – stocks retreating in reaction to a gloomy U.S. outlook, a sagging housing market and the looming double-dip recession – we’re here today with a positive report: your long-suffering wallet might soon get a boost.
According to a new survey of Canadian employers, Canuck workers can expect to see their salaries grow by almost three per cent next year.
By consultant Mercer’s numbers, Canadian salaries will jump by 2.9 per cent in 2011 – a nice change of pace in an era where “wage freeze” has become an all-too-common phrase in the working world.
While workers in the oil/gas sector and other resource-based industries are set to see the biggest gains, Mercer suggests, everyone should be seeing more dough in 2011 than years past. The near-three per cent wage hikes forecasted for 2011 are up from the 2.7 per cent workers saw in 2010 and well above the measly 2.0 per cent they slugged through in 2009.
“Overall, the dampening impact on salaries caused by the 2009 economic crisis is subsiding,” consulting firm Aon said in a release reacting to the news. “Most employers are expecting to be in a position to afford more aggressive salary increases than they have implemented in recent years.”
In fact, not only will wages begin to increase at a reasonable rate again, the whole idea of the recession-inspired salary freeze looks set to become a thing of the past.
Of the 600-plus employers Mercer questioned for their survey, only two per cent say they project a ‘cross-the-board wage freeze in 2011. This is a far cry from the 31 per cent who levied such an unholy rollback on their employees just last year.
Now, news of wage increases are all great and good, but it might just take bit more than economic forecasting to make cynical Canadians drop their guard.
By a CBC.ca poll, about 84 per cent of respondents said they haven’t heard any talk of pay hikes around their work place yet, as of press time Thursday.
So, is this just a “We’ll believe it when we see it”-style pessimism, or do such results suggest the Mercer survey might be a bit premature?
Has there been any talk of pending pay hikes at your work for 2011?
By Jason Buckland, MSN Money
Posted by: taxman | Aug 19, 2021 11:46:09 PM
aaaaaannnnnnd i think i'll take that, thank yewwwww
Posted by: stephan harper | Aug 19, 2021 11:49:49 PM
lmao......it just kills me every time....hehehe
baby wants the rattle? baby wants the rattle? ooops, the rattles gone. where'd the rattle
go? poor baby crying, rattle all gone.
so funny !
Posted by: Quarmby | Aug 20, 2021 10:57:30 AM
interesting survey....I wonder what the results would be if they removed all the employees on the "government teet" and only factored in the productive "private sector" that pay all the bills?
Posted by: Christian | Aug 20, 2021 11:18:42 AM
I haven't heard anything about pay increases at work lately....
Posted by: Quarmby | Aug 20, 2021 11:59:11 AM
just thought of a great way to pay down the deficit.....sell hunting licences for employees of the CRA and politicians.....
Posted by: Sliver | Aug 20, 2021 12:05:25 PM
Um, first our company will have to pay some consultant firm to come in and do a market survey to see what other "similar" companies in the greater upper east armpit region are paying, and then the executive will need to increase their salaries to match those in New York and Dubaii. Then, with what is left over, they will need to pay the lawyers and accountants to cover the questionable activity of said executive, and then the communications and marketing people need money to come up with a campaign to explain to the rest of the workers that times are tough, and no one else is giving increases, as per their secretive market survey....
I think that about sums it up.
Posted by: Big E | Aug 20, 2021 1:03:40 PM
What a joke! Who believes this fodder. We have fallen 50 years back with all the U.S. style anti-union and anti-worker legislation that has been passed down over the past 20+ years. People are to busy watching TV to even know what`s happening around them. They happily go marching off to the bank and borrow money against their homes just to keep up with rising costs. How about BC`s minimum wage of $8/hr? Absolutely disgusting. I`m a higher income earner but I feel for the low income people. Time to take to the streets and protest like they do in Europe. We are too apathetic in N. America.
Posted by: Mainstream Crap | Aug 20, 2021 2:15:38 PM
This is just another load of mainstream crap.
If you want to make the economy work try this "Profit Sharing"
This is where everyone who works for the company all earns the same wage per hour.
Basically take the company net profit for the month, say $100,000.00 and you divide it by the
total number of employee hours worked across the board from the president right down to the cleaning crew and say those total 1,000 hours (keep in mind this is just an example).
The wage per hour would total $100 per hour and that is what everyone gets paid.
You start doing profit sharing and this economy would work but no one wants to do that because the upper management and higher do not want to lose the massive profit margins they are making themselves now.
Posted by: lol | Aug 20, 2021 2:17:54 PM
Right now, all jobs are moving away from N.America to Maxico and China; if no jobs = no income = no 3 cents raise.
Posted by: Are you kidding me? | Aug 20, 2021 3:29:05 PM
It amazes me what comes out of economists mouths. I don't have a high- school diploma and I can speculate better than this. Raises? People, the recession isn't over yet. We have been living in a dream world of easy credit building a false economy that could not sustain itself and it collapsed. Are we really waiting for it to go back to the way it was? This is a world where a carpenter feels he is worth $75.00 per hour and the labourer with him should get $25.00 per hour. This is so they can afford to purchase that $375,000.00 house and the $65000.00 truck with the built in dvd player and flat svreen T.V. for the people in the back seat.
Raises? This will be the first generation of youth who are looking forward to a lower standard of living that we have had.
Everything needs to drop by about 40%. Wages, taxes, fuel costs. the cost of homes, cars.
Posted by: Paranormal Freak | Aug 20, 2021 3:32:04 PM
In our company, we have a usually wage increase every year but it is so small that with the implementation of the HST and the sudden price increases of everything due to gas prices going up, the wage increase does not even match the cost of living increase. If the cost of living was 4% , and the wage increase was 2%, Im actually out of my own pocket for the 2% cost of living which actually decreases my standard of living. So now I have to cut back on everything I used to afford when my salary was at least at par with the cost of living. Hell, I couldn't even get enough overtime from last year because that I let a few things go like certain car repairs, my dental requirements (I had to just let go of a bridge that was just too costly for me because I would rather have the money to support my family which is my wife and daughter), and even my own clothing. I would be happy if I had a real wage increase which is above the cost of living expenses yearly and not a "fake" wage increase which is actually not really helping me pay my cost of living expenses because Im down from my own pocket for the price increases in everything else due to gas prices going up.
Posted by: Aviation Guy | Aug 20, 2021 4:46:44 PM
Oddly enough in our present negotiations for a new CBA, the companies first and final offer was 0% and they also stated that it was not retroactive. We are now 8 months without a contract, so I am not holding much hope. The companies are making money hand over foot but that is for the investors not the important people.
Posted by: whatthef | Aug 20, 2021 10:48:58 PM
I have never read more BS than what is contained on this message board. I do not know how I ended up reading all this but the more I read, the more I had to keep reading. this is the most entertaining BS I have ever seen! Thank you for putting a smile on my face. You are all nuts. You have no clue what you are talking about. good night.
Posted by: Ginger Snow | Aug 20, 2021 11:57:42 PM
I never heard of any pay increase at all. At least not here in Quebec. I'm going to take this story with a grain of salt....I'll believe it when I see it!!...until then....don't hold your breath!
Posted by: Quarmby | Aug 21, 2021 8:56:09 AM
poor old whatthef must be one of those poor disgruntled, underworked, overpaid, unaccountable uncivil servants that received their ususal generous raises on the taxpayers back for doing SFA....of maybe one of those idiot consultants!
Posted by: rotoro | Aug 22, 2021 5:23:02 PM
Want a raise? Become a politician and give yourself a raise. Those self serving pricks do it all the time. I like the idea of hunting licenses
Posted by: Huskystar | Aug 22, 2021 5:52:09 PM
Great to hear that everybody gets a raise, but how about the minimumwage? Is that going up too?!
British Columbia is supposed to be the Best Place On Earth. A lot of people work in the hospitality industry, just like me. Should the government not take better care for the people working for a minimum wage?!
Posted by: dr boyle | Aug 22, 2021 6:57:43 PM
Cosultant Mercer is not credible. One has only to look at who pays his salary to smell the farm. The middle class, non-govmt employee is the person picking up the bill for the stupidity of those in power. Billions gone in studies and polls, foreign aid (to support dictators, military bodyguards, and palaces), olympics, etc. while not one cent of transfer payments from feds to provs actually gets to the programs and services to help those in need. My MLA recently boasted about the fed transfer payments for health and education. So, where is it? Schools are closing, hospitals are closing entire wings, except when a boat load of 'refugees' shows up, then they get top priority...not to mention free everything. Time for a tax revolt.
Posted by: Sliver | Aug 22, 2021 7:18:11 PM
I think whatthef may be an executive where 10% raises are minimum, plus huge bonuses when they reach their magic "how many people can I lay off" number. We have positions currently being outsourced to India and that is where I see my role moving to in the next 12 months. Companies have no moral compass, no obligation for the communities in which they employee, or compasion for the employees; they are run by executive driven by greed who are in it for the short term, big payoff. Very few publicly traded companies have any long term vision.
I agree with Big E in that we are way to apathetic, as we watch the gap between the rich and the middle class widen exponentially. I have not received a 3% increase in the past five years total. "We are not a 'cost of living increase' kind of company," is what we are told, yet we make huge profits.
Posted by: rdk | Aug 22, 2021 11:37:09 PM