Survey: Modest pay raises ahead

Defer those dreams of buying an HD-TV or a snazzy sports car; according to a new survey, US workers should expect only modest pay increases in 2008.

The survey is from Salary.com Inc., a Waltham-based provider of on-demand compensation management solutions that help businesses and individuals manage pay and performance.

The company's National Salary Budget Survey revealed that salaries are budgeted to increase 3.8 percent next year and that 64 percent of companies are planning no change in their salary budgets between 2007 and 2008, Salary.com said.

And workers should think twice before moving to Kansas City or St. Louis; companies in those markets are expected to grant the smallest pay increases among the cities that Salary.com surveyed, Salary.com said.
(By Chris Reidy, Globe staff)