Survey reveals projected pay increases and current trends in Utah, Arizona, Colorado and Wyoming
Salt Lake City, September 23, 2020 – Utah’s Employers Council, a leader in human resource and employment law services for the business community, recently announced the results of its 2020 Planning Packet Survey that reveals projections about compensation budgets for 2021 and 2020 – ’21 economic conditions, using data collected from July and August, 2020.
The survey highlights a projected 2.3 percent average employee pay increase for Utah in 2021, and a 4.6 percent increase for top performers. Overall, Utah’s average pay is projected to increase by 2.3 percent in 2020, down 0.8 percent from the 3.1 percent pay increase projection documented this year in Employers Council’s 2020 Benchmark Compensation Survey that included data collected from January – March, 2020.
“Overall, the survey projects Utah’s salaries will continue to increase and employees will continue to experience an upswing in overall compensation during the continued volatile economy, In the past year, average employee pay increased by 3.3 percent and it’s estimated to grow another 2.3 percent in 2021,” said Ryan D. Nelson, president of Employers Council’s Utah office. “This survey is an incredibly extensive estimate of where the entire state is headed in terms of compensation, and we are pleased to provide such relevant and helpful information to employers.”
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 down nearly a half a percent since 2019, while all other participating states’ projected top performer pay increased.
2021 Average Projected Pay Increase – “Average or Typical Employee”
- Arizona – 2.3%
- Colorado – 2.0%
- Utah – 2.3%
- Wyoming – 1.2%
2021 Average Projected Pay Increase – “Top Performer”
- Arizona – 4.7%
- Colorado – 5.2%
- Utah – 4.6%
- Wyoming – 5.5%
This year’s survey also includes Business Trends and Staffing/Hiring Levels sections with information related to 2021 business outlook, the greatest challenges to achieving business growth, the most challenging job groups to recruit and/or retain, strategies to overcome recruitment and retention challenges.
Due to the quality and breadth of the data, the full version of the survey is available exclusively to members of Employers Council. For more information on becoming a member or purchasing the surveys, visit employerscouncil.org or call 801-364-8479.
ABOUT EMPLOYERS COUNCIL
Employers Council serves more than 4,500 employers, of all sizes and industries, providing the resources needed to build and maintain profitable organizations. Members are assisted by over 70 human resource, organizational development and survey professionals and 60 staff attorneys out of offices in Salt Lake City, Scottsdale, Denver, Colorado Springs, Loveland and Grand Junction. Employers Council provides employment law and human resource services to members facing the everyday challenges of operating a business. Employers Council also provides training to more than 25,000-member employees annually and offers unsurpassed HR survey data. For more information, visit www.employerscouncil.org.