Administration October 9, 2002

2003 Canadian Pay Hikes Head North

September 10, 2002 (PLANSPONSOR.com) - Canadian employers say average salaries should rise by 3.1% for 2003, according to a consultant survey.
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According to the Hay Group poll of 400 Canadian companies, projected pay hikes ranged from 2.7% for trade jobs to 3.3% for executive and senior management positions.

The survey also highlighted geographic pay raise differences: from a high of 3.6% in Alberta to a low of 2.7% in Manitoba. Other Canadian areas include Vancouver at 3.1%, Saskatchewan at 3.3%, Toronto at 3.2%, and Montreal at 2.8%.

The poll found that despite considerable economic volatility this year, projected bonuses for 2003 do not differ radically from last year’s forecasts.

For 2003, bonus targets (as a percentage of base pay) range from 5.3% for trade jobs to 13.1% for middle management to 46% for the President/CEO. Based on survey results, most organizations are expecting to pay out their employee bonuses this year, the survey found.

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