Compensation Resources Publishes Two Reports
- Jul 14, 2023
EA Compensation Resources LLC, an EisnerAmper Company, has published two new compensation surveys: the 2023 Salary Survey Report of College Graduates and Interns and the 2023 Annual Salary Budget Planning Survey Report.
As part of Compensation Resources' annual market research initiatives, each report provides compensation and related benchmarks based on data from a comprehensive survey of HR professionals and business owners across numerous industries.
"As we continue to experience a fluid labor market, it's important to report up-to-date, relevant data," said Mary Rizzuti, Partner, Eisner Advisory Group and Practice Leader for Compensation Resources. "Through these surveys, our goal is to provide effective resources to assist leaders to make informed decisions."
2023 College Graduates and Interns Report
The 2023 Salary Survey Report of College Graduates and Interns features the starting salaries companies offered to this year's graduates of college and post-graduate studies along with compensation levels offered to interns. The survey compiles responses from 53 organizations representing 13 different industries across the country. Mary noted that: "Responding organizations increased the starting salaries for college graduates by 6.1%.”
The labor market remained highly competitive for new graduates, with participants indicating an increase to starting salaries in 2023 that were ahead of general merit increase figures. Employers recognized that compensation helped to ensure successful hiring of new graduates who fill important individual contributor roles.
2023 Annual Salary Budget Planning Survey Report
The 2023 Annual Salary Budget Planning Survey Report details findings regarding merit increases, structure movement, short- and long-term incentives, and compensation package mixes from public, private and nonprofit organizations. Responses came from 124 organizations representing 15 different industries across the country.
This year's findings support the general market sentiment—a plateau of merit increases in response to continued caution regarding the general economy. "Companies should ensure that there is an ongoing process for evaluating their compensation processes to align with their philosophy and strategic compensation goals,” added Mary.
Get the complete results of these surveys on the Compensation Resources Website.
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