NEW YORK (AP) -- Companies are budgeting salary increases for 2009 that are just slightly ahead of expected inflation rates, the Conference Board said Wednesday.According to a survey of more than 350 companies, salary increases for the coming year for overtime-eligible hourly employees are planned at 3.75 percent, while executive employees are likely to see pay raises of 3.9 percent. Professional, supervisory and management workers are projected to get 3.8 percent raises.
That averages out to raises of 3.8 percent, The Conference Board said, whereas the organization projects inflation will run at about 3.4 percent next year.
"This means the typical employer is budgeting for salary increases just slightly ahead of inflation in 2009," said Charles Peck, compensation specialist with The Conference Board.
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