News and Features
Salaries up 2.4% in 2009 for
Mid-Atlantic technology SMBs
Greater increase predicted for 2010,
but overall numbers at 10-year lows
In 2009, salaries went up 2.4%, but the increase is significantly less than the 4.2% seen in 2008, according to the KnowledgeBank 2009-2010 Total Compensation Survey of Mid-Atlantic Technology Companies.
For 2010, survey participants are projecting an average salary increase of 3.2%. Even with that .8% increase over 2009 levels, salary adjustments remain at historic lows for the past decade.
Conducted annually for the past 19 years, the KnowledgeBank Total Compensation Survey of Mid-Atlantic Technology Companies provides a comprehensive data summary and analysis of total compensation, benefits and human capital practices at mostly small to medium-sized technology companies in the Mid-Atlantic region.
Surveying 100 firms with total employment of 51,076 and incumbent pay data for 6,905 employees, the study also found that:
- 90% of executives received some form of short-term incentive, 62% received a cash bonus, 48% stock options and 37% a cash incentive payment
- 29% of companies surveyed provided stock options to all employees
The survey findings also revealed that responding companies embrace flexible human resource practices in a challenging marketplace to recruit and retain staff:
- 86% provide for flexible work schedules and casual dress
- 70% encourage telecommuting and/or provide special recognition awards
- 63% pay new hire bonuses for referrals
In addition, the survey found that tuition reimbursement plans and EAP benefits were the fastest growing benefits offered by the participating companies.
The 19th annual survey provides base salary rates, cash incentives and total cash compensation for 35 key positions. Data is provided for companies with revenue of less than $10 million, companies with revenue between $10 and $49 million, companies with revenue greater than $50 million, and in total. In addition, the survey provides compensation and human resources practices, incentive plan practices and employee benefit plan practices.
A copy of the summary report is available for purchase at www.knowledgebank.us.com.
