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January 16, 2022

Canadians expecting hefty salary increases in 2012: report

Two thirds of Canadians expect that 2012 will be a better year for them at work, according to recruiting firm Randstad Canada's latest global Workmonitor survey.

62% anticipate that a fatter paycheque will provide them with more disposable income in 2012 than in 2011, and 47 % think their employee benefits will improve as well.

That doesn't describe many of the people I talk to, however. But then I don't know a lot of folks who work in the oil patch.

Results from the competing 2011-2012 Culpepper Salary Budget Survey reveal that salary budgets in Canada are projected to rise from 2.76% in 2011 to 2.94% in 2012.

Overall, "Canadians remain cautious when it comes to their expectations of improved benefits and bonuses, likely an after-effect of the uncertain economic times the country has experienced," noted Jan Hein Bax, president of Randstad Canada.

Not everyone is feeling gloomy, however. Tracking 29 countries, Randstad found that workers in other parts of the world are actually feeling rather optimistic. Just about everybody in Argentina, Brazil, Chile, for instance, expects to receive a significant raise or improved bonus this year.

European employees have lower expectations though; barely one third expect to see any improvements in these areas and those that do certainly aren't getting carried away.

Don't get your hopes though. One-size-fits-all, across-the-board salary increases or freezes should be avoided, say compensation experts, who expect companies to place increased emphasis on personal performance this year.

Do you see your fortunes improving significantly this year? Is there a decent raise on the way?

By Gordon Powers, MSN Money



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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...