Looking for a big raise or to jump ship for a much higher-paying position next year? Not likely to happen, according to a survey released this week from Robert Half International.
The Menlo Park staffing firm surveyed recruiters locally and nationally and found that for the Los Angeles area, salaries for professionals are only projected to rise an average of 2.2 percent next year. That’s 50 percent below the projected national average hike of 3.6 percent.
Why the lackluster salary expectations for L.A.? Blame the heavy concentrations of lower margin and lower wage sectors like apparel manufacturing and hospitality.
“While several fields in Los Angeles are experiencing strong year-over-year increases in compensation, such as accounting, finance, technology and digital media, the L.A. market remains heavily weighted with industries such as apparel, manufacturing and hospitality,” said Brett Good, senior district president for Southern California and Arizona for Robert Half. “These industries bring the overall results to a level lower than the national average.”
Robert Half has reported on salaries yearly since 1950, gathering salary data for professional positions from its recruiters throughout the nation. The data are based on the thousands of job searches, negotiations and placements, along with the company's ongoing surveys of executives. The survey does not include continuing or ongoing salaries, since other factors including seniority and job performance impact those salaries.
Public policy and energy reporter Howard Fine can be reached at email@example.com. Follow him on Twitter @howardafine.
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