First Comment

Many lament that financial industry salaries continue to grow at abnormal rates through bad economic cycles, but loyal reader Wendy sends in this article from Institutional Investor Magazine which says that fixed-income buy-side analysts are beginning to see the effects of this downturn...at least a little bit: click here

Update 11:50 AM: Missed it, but thanks for pointing out...sell-side also has information: click here

The Charlotte Observer has an interesting article about when executive pay goes awry: click here

This info from WorldAtWork, when taken in tandem, doesn't look all that great...

Average annual medical premium costs increased 6% this past year: click here

Pay increases on a national level are going to be 3.9% for this year: click here

(Doesn't seem to be a very good combination...)

Here are the results of the survey on a state/province level...

TABLE 1. Average Salary Budget Increases by Major Metropolitan Area (U.S.)

	Actual 2008	Projected 2009
NATIONAL	3.9%	3.9%
Atlanta	3.8%	3.8%
Baltimore	3.8%	3.8%
Boston	3.9%	3.9%
Chicago	3.8%	3.8%
Cincinnati	3.7%	3.8%
Cleveland	3.8%	3.8%
Dallas	3.8%	3.8%
Denver	3.9%	3.9%
Detroit	3.7%	3.8%
Houston	3.9%	3.9%
Los Angeles	3.8%	3.9%
Miami	3.8%	3.8%
Minneapolis	3.7%	3.7%
New York	3.8%	3.8%
Philadelphia	3.8%	3.9%
Phoenix	3.8%	3.8%
Pittsburgh	3.7%	3.8%
Portland	3.8%	3.8%
San Diego	3.8%	3.9%
San Francisco	3.9%	3.9%
San Jose	3.8%	3.8%
Seattle	3.8%	3.8%
St. Louis	3.7%	3.8%
Tampa	3.8%	3.8%
Washington, D.C.	4.0%	3.9%

TABLE 2. Average Salary Budget Increases by State (U.S.)

	Actual 2008	Projected 2009
NATIONAL	3.9%	3.9%
Alabama	3.8%	3.8%
Alaska	3.7%	3.8%
Arizona	3.8%	3.9%
Arkansas	3.7%	3.7%
California	3.9%	3.9%
Colorado	3.9%	3.9%
Connecticut	3.9%	3.9%
Delaware	3.7%	3.8%
Florida	3.8%	3.8%
Georgia	3.8%	3.8%
Hawaii	3.8%	3.8%
Idaho	3.7%	3.8%
Illinois	3.8%	3.8%
Indiana	3.6%	3.7%
Iowa	3.8%	3.9%
Kansas	3.8%	3.8%
Kentucky	3.7%	3.8%
Louisiana	3.9%	3.9%
Maine	3.8%	3.9%
Maryland	3.8%	3.8%
Massachusetts	3.8%	3.9%
Michigan	3.7%	3.8%
Minnesota	3.7%	3.8%
Mississippi	3.8%	3.8%
Missouri	3.8%	3.8%
Montana	3.7%	3.8%
Nebraska	3.8%	3.8%
Nevada	3.8%	3.8%
New Hampshire	3.7%	3.8%
New Jersey	3.8%	3.8%
New Mexico	3.9%	3.9%
New York	3.9%	3.8%
North Carolina	3.7%	3.7%
North Dakota	3.9%	4.0%
Ohio	3.8%	3.8%
Oklahoma	3.8%	3.8%
Oregon	3.8%	3.8%
Pennsylvania	3.8%	3.9%
Rhode Island	3.7%	3.8%
South Carolina	3.7%	3.7%
South Dakota	3.8%	3.9%
Tennessee	3.7%	3.7%
Texas	3.9%	4.0%
Utah	3.8%	3.8%
Vermont	3.8%	3.8%
Virginia	3.8%	3.9%
Washington	3.8%	3.9%
Washington, D.C.	4.0%	3.9%
West Virginia	3.7%	3.8%
Wisconsin	3.8%	3.8%
Wyoming	3.9%	3.9%

TABLE 3. Average Salary Budget Increases by Major Metropolitan Area (Canada)

	Actual 2008	Projected 2009
Calgary	4.0%	3.9%
Edmonton	4.0%	3.9%
Hamilton	3.8%	3.9%
Montreal	3.6%	3.6%
Ottawa	3.8%	3.8%
Quebec	3.6%	3.5%
Toronto	3.7%	3.7%
Vancouver	3.8%	3.8%
Winnipeg	3.9%	3.8%