Canadian base salaries stagnant as U.S. pay jumps
Survey finds that 83 per cent of Canadian employers will provide employees with base salary increases in 2015
TORONTO— Canadian employees can expect to see average base salary increases of 2.6 per cent in 2015, according to a national survey of over 400 Canadian public and private sector employers conducted by the Hay Group in June and July.
Canadian projections have now fallen further behind the United States, where American workers can expect an average increase of three per cent in 2015, up from the 2.8 per cent projected for 2014.
According to the consulting firm’s survey, which includes some of Canada’s leading employers, 83 per cent of Canadian employers will provide employees with base salary increases in 2015.
The highest Canadian increases continue to be seen in the oil and gas sector at 3.8 per cent, where demand for key skills continues to outweigh strategic supply challenges. Chemicals (3.3 per cent), credit unions (3.2 per cent), and financial services (three per cent) are all sectors with forecasts considerably higher than the national average of 2.6 per cent, according to the survey.
Alberta (3.1 per cent) and Saskatchewan (2.9 per cent) are expected to lead Canada with projected overall base salary increases higher than the national average.
Canadian employees in the fields of telecommunications, education and government are expected to see the lowest base salary increases, the survey found.
The 2.6 per cent average projected increase for Canada in 2015 is the same as that in 2014, and lower than the 2.9 per cent projection for 2013.