Information on competitive pay

Some employers try to monitor pay adjustment practices at other firms in the area or industry so that pay increases will be competitive. To track competitive salary adjustment rates, many employers participate in an area salary survey. Salary and compensation surveys are often conducted by area chambers of commerce, professional or industry associations, compensation consulting firms, or certain government agencies.

Another source of pay adjustment information is to watch for news articles in publications that report business news. These publications often report highlights of pay adjustment surveys or other news about trends in pay, benefits and employee compensation.