Pay Raises

John Wolz

Fastener employees received an average of 4.7% pay increases in 2001, down a half percent from 2000.
Two-thirds (66.7%) reported giving raises ranging from 1.5% to 25%.
The 2001 increase was within 0.1% of the 4.6% that employers predicted in the End of 2000 FIN Survey.
At 4% the projection for 2002 is lower. And only 38.3% have decided to give raises. Employers planning increases estimated pay raises from a low of 1.5% to a high of 10%.
Both manufacturers and distributors forecast an average raise of 3.8% for 2002. \ �2002 FastenerNews.com
What percentage pay increase, if any, did your company give employees in 2001? What percentage pay increase, if any, is planned for employees in 2002?