Research Report | Jun 2022
2022 Implemented Base Salary Increases
Responses from 337 companies indicate base salary increases are higher than normal and many are planning mid-year raises.
Based on participant responses collected during the third quarter of 2021, Pearl Meyer’s annual, in-depth compensation planning survey projected that 2022 salary increase budgets would be consistent with previous years. However, after that survey was conducted, inflation continued to rise through the fall and the labor market became even more competitive.
We conducted a subsequent Quick Poll at the end of the year to see what changes were taking place as organizations finalized their 2022 budgets, and learned that nearly all respondents were planning base salary increases for the coming year and those increases were expected to be higher than normal. This Quick Poll was conducted to understand if and how those expectations have been implemented.