Denver salaried workers are projected to see a rise in salary above the national average in 2014, according to a report Thursday from t, a health and retirement benefits consultant.
In 2014, the salaries of exempt workers — or those who do not receive overtime — are projected to rise 3.2 percent, above the projected national average of 3 percent.
That compared with a 2.7 percent increase for Denver workers in the fiscal year that ends Sept. 31, 2013.
In its annual U.S. Salary Increase Survey, Anon Hewitt found that salary increases for U.S. workers in fiscal 2014 are expected to reach their highest levels in six years. Salary increases have inched upwards year-over-year after reaching an all-time low of 1.8 percent in 2009.
Still, the report added, average increases are projected to remain modest, as employers “strive to reserve the majority of their compensation budgets for merit increases and performance-awards for high-performing workers.”
“While it appears that pay levels are slowly rebounding, we’re still far below pre-recessionary levels of compensation spending as companies continue to hold the line on fixed costs,” said Ken Abosch, compensation strategy and market development leader at Aon Hewitt.
Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or twitter.com/howardpankratz
