Cautious optimism, modest pay raises

Salary surveys predict increases from 3 to 3.5 per cent in 2003
By Asha Tomlinson
|Canadian HR Reporter|Last Updated: 07/21/2003

Despite the economic upheaval of the past year, salaries should rise by at least three per cent next year.

“Companies are taking a careful business approach. They’re looking at their own organizations, looking at the Canadian economy and are reacting with a degree of cautious optimism,” said Graham Dodd, consulting firm Watson Wyatt’s practice leader for Western Canada.

Economic uncertainty is making companies more reluctant to make predictions for the year ahead, he said.