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WAGEWATCH 2015 LODGING INDUSTRY WAGE FORECAST

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.

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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 .

 

 

Posted in Uncategorized on February 11th, 2015 · Comments Off on WAGEWATCH 2015 LODGING INDUSTRY WAGE FORECAST

Minimum Wage Momentum

According to a national review by The Associated Press, at least 30 states are sponsoring or are expected to introduce wage hike measures. As of Jan. 1, 2014, twenty-one states and Washington D.C. have minimum wage rates above the $7.25 federal minimum wage rate. Nineteen states, Guam, Puerto Rico and Virgin Islands have minimum wage rates the same as the federal minimum wage. Four states and American Samoa have minimum wage rates below the federal minimum wage (therefore the federal minimum applies).  Five states have not established a state minimum wage.

 Minimum wage continues to be a hot issue in the states for the 2014 legislative session. Thirteen states and five local municipalities increased their minimum wage effective January 1, 2014.  Ten states have tied their minimum wages to the index, guaranteeing that they rise with the cost of living each year. Other states, such as New Jersey and Connecticut, passed legislation in 2013 that will nominally raise their minimum wages. 

 Delaware has already passed a law in the 2014 session increasing their minimum wage to $7.75 an hour, effective June 1, 2014, and to $8.25 effective June 1, 2015. D.C. has passed a bill this session to increase the District’s minimum wage; the bill is under review in Congress.

 In Iowa, a bill would hike the minimum wage from $7.25 an hour to $10.10. A Rhode Island bill would raise it from $8 to $9.  And a year after New York approved a multiyear minimum wage hike, another bill was introduced for 2014 that would accelerate the increase.

 Washington state and the District of Columbia will increase their minimum wages rate to $11.50 by 2016 and there is legislation pending in Washington state for another increase to $12.00.   Two states have legislation pending to increase the minimum wage up to or over $10.00 and another two states have legislation pending to increase the minimum wage up to or over $11.00.

 As of Feb. 24, 2014; the following states have bills that are pending regarding state minimum wage increases (includes active carry-over bills from 2013): CA, DC, GA, HI, IL, IA, KS, KY, ME, MD, MI, MN, MS, NE, NH, NJ, NM, NY, NC, RI, TN, UT, VA, WA, WV

 Follow this link http://www.wagewatch.com/resources/Minimum%20Wage%20Chart.xlsx to the WageWatch Federal and State Minimum Wage Chart with details of state and local minimum wage and pending increases.

WageWatch, Inc. is the leading compensation survey provider for the lodging and gaming industries with over 7,000 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.

Posted in Uncategorized on February 26th, 2014 · Comments Off on Minimum Wage Momentum