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Only 7% of companies said they were not planning pay raises for 2021. In 2020, that number was 14%. (Credit: 200dgr/Shutterstock.com)

Some good news: Raises and bonuses are back on the table at most companies for 2021.

According to a new survey from Willis Towers Watson, companies in the United States are projecting average salary increases of 2.8% for all employees in the coming year. That number includes exempt, nonmanagement and management employees. The average salary increase for nonexempt salaried and hourly employees is projected to be 2.7%. Executives are also in line for a 2.7% increase.

Where companies granted increases at all for 2020, those fell between 2.5% and 2.7%. Salary increases have hovered around 3% for the past ten years.

Richard Binder

Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.

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