Mercer’s Pay Increase Barometer measures the extent to which salaries are passed on at, below or above market rates in the past nine months.
Mercer’s remuneration database operates on a rolling basis, with organisations providing remuneration data submissions throughout the year. As a result, each month we share the overall barometer findings in addition to industry-specific results for those sectors for which reportable data is available.
The December pay increase barometer shows 29% of incumbents in the sample received above-market (expansion) movements when compared to Mercer's reported overall median same incumbent employment cost movement.
For an incumbent to have seen an at-market (stable) pay movement, they would have received an increase of +/- 1% above or below Mercer’s overall median employment cost movement. The barometer for December shows 39% of incumbents have received a remuneration increase within that range.
The 32% of individuals that received a below-market (contraction) pay increase saw an increase of greater than 1% below Mercer’s overall median employment cost movement.
When broken down by reportable industry, the highest proportion of above-market pay increases (46%) were awarded by mining organisations. The finance and insurance industry passed the highest proportion of at-market pay increases, reporting 59%, while construction/engineering, manufacturing, chemical and professional services organisations passed the highest proportion of below-market pay increases, with 52% of incumbents reporting contraction.
Disclaimer: While every care has been taken to ensure the accuracy of the information, no warranty is given in respect thereof.
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