1/28/2010
NEWS BRIEFS
FIN Survey: Will Fastener Companies Increase Wages in 2010?
More than three quarters of FIN Survey participants reported their company did not give pay raises in 2009.
In contrast, a year ago two-thirds of companies reported raises during 2008. And more than three quarters gave raises in 2007.
There were exceptions in 2009, as 16.9% gave raises ranging from 1% to 5%; 1.2% upped pay between 6% and 9% and 3.6% reported raises of 10% or more.
For 2010 nearly three/fifths of companies do not anticipate raising pay. And no FIN Survey respondents project raises over 10%.
A total of 59% foresee pay unchanged in 2010, while 37.3% are planning 1% to 5% raises; 3.6% will increase wages between 6% and 9%.
Watch for the complete results for the End of 2009 FIN Survey in the next issue of FIN. ©2010 GlobalFastenerNews.com
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• FIN Survey: Which Companies Did Better in Recession?
• FIN Survey: Will Fastener Prices Rise in 2010?
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