A new group of salaried employees will earn the biggest pay increases in 2006, according to the latest salary survey from Business & Legal Reports, Inc. BLR has just released its 2006 Survey of Exempt Compensation, and the biggest pay raises will go to a group of heretofore unsung heroes, Purchasing Managers. They will earn the highest average 2006 raise (9.35%). Following closely on their heels are Advertising Managers (8.22%) and Administrative Services Managers (6.99%).
Compensation.BLR.com conducted BLRís greatly expanded annual salary survey in early 2006. Pay rates for the average exempt worker (employees not eligible for overtime) will increase 4.0% in 2006 ñ just under the 4.1% cost of living index in 2005. Only one position, Wholesale and Retail Buyer, will show a salary decline in 2006 (down 0.19% to $43,192).
Unlikely Rock Stars
ìThis yearís top gainers are very different,î commented Catherine Moreton, BLRís compensation editor. ìWe theorize that globalization pressures are forcing companies to focus on improving their cost structures, making purchasing managers the unlikely new corporate rock stars. Likewise, marketing and promotion managers will be amply rewarded to increase sales and market share.î
Health care to see healthy pay increases
Middle managers will see healthier raises than lower level employees. Shortages of healthcare workers mean they can continue to expect ìhealthyî raises: Two of the top salary increases in this yearís survey were for Pharmacists (up 5.44% to $89,230) and Registered Nurses (up 4.96% to $54,914). Engineers and non-management computer positions, big gainers in past years, will see relatively anemic pay raises.
Greatly Expanded Salary Surveys for 2006
BLRís 2006 survey has a number of significant improvements from previous years. It now has national salary data on 100 jobs, the number of industries has increased from 8 to 25, and many more state and metropolitan areas are included.
Executive Summary
A free Executive Summary of BLRís 2006 Survey of Exempt Compensation is available here
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BLRís 2006 Exempt Salary Survey for the Mid-Management Level has Surprising Result
