The New Year should prove to be a continuation of 2014 with wage increases for hourly and salary employees and executives in the lodging industry. For 2015, Wagewatch, Inc. forecasts that wage increases for the lodging industry will average 3.4%. Non-exempt employees will see pay increases of 3.2% and exempt employees will see increases of 4.2% in 2015.
The 2015 Budgeted Wage Survey for hotel and gaming employees was conducted from Janaury13-27, 2015 by WageWatch, Inc. Lodging companies representing over 8,000 hotels and 588,000 employees participated. The survey results disclosed planned pay increases ranging from a low of 2.0% to 4.0% with a median of 3.0%, and an average of 2.9%. There was no statistical difference for planned pay raises for non-exempt and exempt employees.
Randy Pullen, CEO of Wagewatch, stated that he believes the survey results will prove to be conservative for 2015. This is the first time since 2007 that we have forecast that actual pay increases for the hotel industry will exceed the planned increases as reported by the hotel operators in our survey.
The budgeted average wage increases for 2014 as reported in last year’s survey of 2.8% for both non-exempt and exempt employees were exceeded by actual increases as reported this past December in the 2014 WageWatch PeerMark compensation survey of over 5,000 hotels.
Non-exempt employees on average received a 2.9% increase in pay and exempt employees received a 4.2% increase. In looking back at prior Budgeted Wage Surveys, this is the first year since 2008 that actual pay increases exceeded planned pay increases. We expect this trend to continue into 2015.
WageWatch, Inc. is the leading compensation survey provider for the lodging and gaming industries with over 8,000 properties in its database. WageWatch also consults routinely with management companies on their pay structures and pay rates. The PeerMark™ Wage Survey is the only Web-based custom survey tool that allows individual survey participants to select their competitive set for comparison purposes. For more information on our services, including consulting, salary survey data, benefit survey data and market compensation reports, please call WageWatch at 888-330-9243 or contact us online .