EANE Announces Findings from Tri-State Salary & Budget Survey

AGAWAM — The Employers Assoc. of the NorthEast announced its findings from the 2015-16 Salary & Budget Survey, with close to 100 companies participating from Massachusetts, Connecticut, and Rhode Island.

The survey results include numerous breakout 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 addresses salary increases for the period of July 2014 to June 2015, and also forecasts salary changes for July 2015 to June 2016.

Overall, manufacturing employers participating in the survey indicated employees received, on average, a 2.7% increase for 2014-15, while non-manufacturing participants averaged a 3.0% increase. Both categories are holding steady with the forecast for pay raises. Manufacturing participants projected an overall 2.8% increase for 2016, while the non-manufacturing group forecasted a 2.6% increase, on average. 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 Assoc. “That said, we know that employers want to give raises to keep top talent.”

For a full summary of results, visit eane.org/salary-budget-survey-results.