More than two-thirds of hiring managers (68 percent) surveyed in the metropolitan
New York area say their companies have not implemented any employee salary increases
in 2003, according to a survey conducted for The New York Times Job Market.
Nearly the same proportion of hiring managers (67 percent) say they expect
salaries at their companies to remain at current levels for the remainder of
Thirty-two percent (32 percent) of hiring managers surveyed say that their
organizations have implemented salary increases in 2003 compared to 47 percent
in 2002. According to the survey, the median salary increase to date in 2003
is 4 percent.
Beta Research Corporation, on behalf of The New York Times Job Market, conducted
telephone interviews with 250 hiring managers.
Hiring managers who gave increases say they consider several criteria to determine
employee salary increases, including:
- Individual employee performance - 74 percent
- Company performance - 36 percent
- Department performance - 21 percent
- Union contract - 6 percent