WorldatWork has just released the results of its survey of promotional guidelines, featuring the responses of 936 participants.
A few select tidbits:
The average promotional increase-
- For nonexempt employees 7.1%
- For exempt employees 8.3%
- For officers/executives 9.5%
The top three most influential factors in determining a promotional increase?
- Pay range for the new position
- Rates paid to other similarly situated employees
- External pay data, if available
Limits on the size of a promotional increase?
- 33% say no limits
- 67% limit some or all promotional increases
May 2011 bring career advancement - and a generous promotional increase - to us all!
Image courtesy of www.etftrends.com