Data suggest salary increase for 2014 will fall below 2013 rate
A report on salary trends for 2014 suggests salaries in Newfoundland and Labrador are now higher than in any other Atlantic Canadian province.
With salaries in Halifax, N.S., used as a base figure, the report prepared by Gerald Walsh Associates used information from Statistics Canada, surveys from various professional and industry, and its own information on placements to determine a factor figure. That figure can then be used for comparing salaries for the same jobs in other Atlantic Canadian cities.
The report apples a factor of 1.05 to St. John’s, meaning the salary for a job in Newfoundland and Labrador’s capital city is likely five per cent higher than what the salary would be for the same job in Halifax.
Other Atlantic Canadian cities were given factors ranging from 0.90 to 0.94.
“The energy sector has contributed to steady salary increases in Newfoundland and Labrador,” said Gerald Walsh in a news release. “In many cases, salaries in that province will be five to10 per cent higher than the rest of Atlantic Canada.”
The report also found the average salary in Atlantic Canada will likely increase by 2.3 per cent in 2014. That would be down from the average salary increase experienced over the past year of 2.5 per cent (the last Gerald Walsh Salary Guide predicted a 2.6 per cent salary increase for 2013).
The report suggests the average salary increase in Atlantic Canada falls below expectations for the rest of the country, which range from 2.6 per cent to 3.1 per cent in 2014.
The salary guide relied on data from the public, private and not-for-profit sectors.