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In fact, the only industry where we did not see signs of pay compression was in high tech.

In each issue of Workspan , we “Ask the Experts” to gather insights from thought leaders, industry authorities and researchers on total rewards challenges and current workforce issues that are top-of-mind for you.

Depending on the industry, future growth and other factors, we expect that CEO pay will increase by 8% to 12% in 2024 — with the uptick being fueled by hefty increases in long-term incentive (LTI) grants.

Businesses in newer or tech-heavy industries may struggle to find outside talent, since the skills their organization hinges on are often novel and rapidly involving, Chauradia noted.

Scott-Wears: Any industry that has a sizeable number of employees on the cusp of the salary threshold will feel it; however, some industries that specifically come to mind are retail, hospitality and food service.

This includes access to the entire data set across all job families and industries in the United States.

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Other strategy factors included: ;Internal equity relative to other peers in the new jobs (cited by 87%); ;Individual performance and/or performance rating (62%); ;Number of grades/levels/bands in the promotion (35%); ;Size of other promotions across the organization (16%); ;Fixed promotion guideline (12%); Industry Variations Projected merit outlays deviate a bit when explored by industry sector.

“Wage theft is rife in industries that already pay too little to live on,” said Janice Fine, a director at the Workplace Justice Lab and one of the report’s co-authors.

Beyer, who’s been with WorldatWork more than a quarter century — way back in the American Compensation Association days — recently earned a Ph.D. in Industrial and Organizational (I/O) Psychology from Roosevelt University.