US 2020 Salary Guide
2020 U.S. Salary Guide
For our third-annual Hiring Trends survey, we received over 3,500 responses from professionals and employers across the United States. This year, employers are optimistic despite global economic uncertainty. They continue to fight the war for talent on two fronts: keeping up with rising salaries and meeting the demand for non-financial compensation
What does that mean for you as you look to the next 6-12 months?
Employers optimistic, but cautious
Uncertainty about global trade conflict and federal interest rates have left companies uneasy, but they remain motivated to hire. 77% of employers say their industry is poised for growth over the next 12 months.
Minimum wage increases contribute to worries
States and cities are raising wages above the federal minimum rate, which has remained the same for the past decade. That said, employers will be forced to seek alternative ways to offset the increasing costs.
Nationwide skills shortage persists
84% of surveyed employers say they are affected by the skills shortage, up from 78% last year. The skills shortage in the IT, construction, life sciences, and property industries all exceed the national average.
Employees are feeling restless as competitors open their wallets
This year, 61% of employees reported that they would seriously consider leaving their job. This is unsurprising since 74% of employers would break their budget to secure talent.
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The Hays 2020 Salary Guide survey was conducted from August 8 to September 3, 2019 with a representative sample of n= 3,659. The survey was conducted online in English and has a two per cent margin of error.