The Conference Board's latest wage survey of 240 companies revealed that employee’s base pay is projected to increase by an average of 3.9% in 2022. This is the largest one-year projected hike since 2008. 46% of employers attributed this hike to their need to attract workers given the labor shortage. The Conference Board warns of pay compression and how with narrower gaps between new hires and tenured or higher-ranking current employees more experienced workers may seek new jobs.
See "Big pay raises are projected for 2022", Jeanne Sahadi, CNN, December 8, 2021