Is a pay rise on the cards?
Robert Walters has just released results from its fifth ‘Employee Insights Survey’, with a particular focus on employee salary expectations.
Of the 500 Australian professionals interviewed, 83% expect a pay increase before the end of 2010. Of the 83%, 69% were quick to say that they would consider moving roles if their pay did not increase within the year. An additional 44% of the 83% were hoping for a 10% increase in salary. A select few (8%) were expecting a 20% increase.
Employees in New South Wales were the most confident that their pay would increase, with 81% of respondents expecting a pay increase in 2010. 62% of Victorians hoped for a pay increase, while 57% of Queenslanders answered in the affirmative.
By industry, those in banking (91%) and accounting and finance (86%) and were the most confident that they would receive a pay increase.
James Nicholson, managing director of Robert Walters, Australia commented, “The majority of employers plan to give pay increases at the end of the year, and some plan to reinstate previously cut pay raises as market conditions continue to improve. However, with companies operating on limited budgets, employees can expect their performance to come under increased scrutiny. Those employees who do not meet expectations will not receive pay increases, enabling employers to reward their best performers.”