Survey: Companies Plan Higher Salary Increases In 2021

Only 3% of American companies are freezing employee pay, and many plan to raise pay in 2022, according to a new Willis Towers Watson WLTW survey.

Companies project average salary increases of 3% for executives, management and professional employees and support staff next year — up 2.7% from 2021.

The largest increases are projected in sectors like high tech, pharmaceuticals, health care, media and finance, oil and gas and retail.

Why It Matters: The change likely means that companies feel more stable in today's economy and are projecting significant gains in the future.

Companies that invest heavily in science and technology or are based in the field could help explain positive trends in the sector.

Photo: CDC via Unsplash.