Utah’s Employers Council has released results from its 2018 Planning Packet Survey which highlights projections about compensations budgets for local companies for 2019 and compares them with the current year.
The survey projects a 3 percent average employee pay increase for Utah in 2019 and a 5.7 percent bump for companies’ top performers. The Utah projection represents a 0.1 percent drop from 3.1 percent in 2018.
“Employers Council is pleased to provide such relevant and helpful information to employers in Utah,” said Ryan D. Nelson, president of Employers Council’s Utah office. “This survey shows how Utah continues to see an upswing in overall compensation. In the past year, average employee pay has increased by 3.1 percent and is estimated to grow another 3 percent next year. The survey is an incredibly extensive estimate of where the entire state is headed in terms of compensation.”
The complete survey separated pay increases geographically among four states, including Arizona, Colorado, Utah and Wyoming, as well as within Utah, including Wasatch North, Wasatch South, Mountainland and Central-Southern. When compared with the other states, Utah’s average pay increase for the typical employee was on par with other states, though Utah’s projected pay increase for top performers was nearly 1 percent higher than the other states.
In addition to Utah’s projected 3 percent pay increases, the report showed Arizona at 3 percent, Colorado at 3.1 percent and Wyoming’s 2.5 percent. For top performers — those at the top of pay increase planning — Arizona projected a 4.7 percent increase, Colorado 4.9 percent and Wyoming 4.6 percent.