Salary Increases 2.9 Per Cent Next Year


    Canadian employees can expect an average salary increase of 2.9 per cent in 2013, says a survey by the Hay Group. The projected increase is slightly more than that projected in 2012 (2.8 per cent). The sectors expecting the biggest gains are the oil and gas sector at 3.9 per cent followed by mining at 3.6 per cent. However, these higher forecasts are more of a reflection of the demand for key skills ‒ and the competition for skilled talent ‒ rather than “boom times,” says the Hay Group. The sectors with the lowest projections for 2013 are healthcare (two per cent), media (2.2 per cent), and government and telecommunications (both at 2.3 per cent). Overall, the public sector is forecasting noticeably lower salary increases (2.5 per cent) than is the private sector (industrial and financial at 2.9 per cent). Canadian projections ranks about average against some of the other advanced industrialized nations, above France (2.6 per cent) and Japan (two per cent), but slightly behind other industrial countries such as the U.S. and United Kingdom (both at three per cent).