Salary forecast: Same raises, different year

Predictions for 2014 range from 2.6 to 3.1 per cent, some signs of pessimism
By Sarah Dobson
|Canadian Payroll Reporter|Last Updated: 10/09/2013

While “cautious optimism” has been the catchphrase of late when it comes to salary forecasts, it’s now been replaced by “cautious pessimism,” according to Karl Aboud, director of the Canadian reward practice at Hay Group in Toronto.

Canadian employees can expect an average salary increase of 2.6 per cent in 2014, according to Hay Group’s survey of more than 500 unionized and non-unionized employers.

“It’s still a positive number, but it’s three tenths of a point less than it was (in 2013) and there are some other foreshadowings of pessimism in the details of the data,” he said.