2007 Pay Increase Budgets Grow in Minnesota and Wisconsin

The newly released Compensation Data ñ Minnesota/Wisconsin annual survey of 143 companies found pay increase budgets are 3.73 percent for 2007 and are projected to stay the same in 2008. These numbers are up from 2006 when they were 3.57 percent in both states. The numbers have increased steadily since 2005.

National pay increase budgets were close to those reported for both states at 3.65 percent. When comparing areas of each, Minnesota pay increase budgets were highest in the Minneapolis/St. Paul area, 3.54 percent, and Wisconsinís were highest in the La Crosse area, 4.33 percent.

Pay increase budgets vary slightly by industry for Minnesota and Wisconsin. Results showed companies in the not-for-profit industry had the highest, 4.08 percent. Distribution and warehouse companies had the lowest, 3.53 percent. Many have talked about hiring shortages in health care, and current pay increase budgets were reported at 3.65 percent.

To attract and retain top performers, employers should ensure theyíre offering a complete compensation package, said Amy Kaminski, manager of marketing programs for Compdata Surveys. Because not all employees are motivated by routine raises, organizations should look to other methods to boost their compensation packages. These could include increased time off and the introduction of flexible schedules.

About the Survey
Compdata Surveys offers pay and benefits data on 539 job titles for organizations across the country, said Kaminski. The results allow users to compare data by company size, industry and geographic region allowing customers to find information best fitting their needs.

Compensation Data 2007 ñ Minnesota/Wisconsin contains data on 495 job titles ranging from entry-level to top executives. Information was collected on more than 213,000 employees across the region. The results provide a comprehensive summary of pay data, benefits information and pay practices with an effective date of March 1, 2007. Compdata Surveys, www.compdatasurveys.com, has been providing accurate, reliable data at affordable prices since 1988.