2003 Pay Budgets Rise

While pay increases continue to lag behind the pace of recent years, most employers still are budgeting for a 3.9% increase, according to Mercer Human Resources Consulting's new 2002/2003 US Compensation Planning Survey. That is down from the 4.4% average budget increase in 2001, but up slightly from 2002's 3.8% budget hike.
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