2019 new salary structure
The 2019 new salary structure in the United States varied depending on the industry, company, and location. However, here are some general trends and changes that were observed in the 2019 salary structure:
- Minimum Wage Increase: The federal minimum wage increased from $7.25 to $7.25 per hour, but some states and cities implemented higher minimum wages.
- Cost of Living Adjustments (COLAs): Many companies implemented COLAs to keep up with inflation and rising living costs. This resulted in salary increases ranging from 2% to 5%.
- Industry-Specific Salary Trends:
- Tech Industry: Salaries in the tech industry continued to rise, with average salaries increasing by 10% to 20% in 2019.
- Healthcare Industry: Salaries in the healthcare industry remained steady, with average salaries increasing by 2% to 5%.
- Finance Industry: Salaries in the finance industry saw moderate growth, with average salaries increasing by 3% to 6%.
- Retail Industry: Salaries in the retail industry remained relatively flat, with average salaries increasing by 1% to 3%.
- Job-Specific Salary Trends:
- Data Scientists: Average salaries for data scientists increased by 15% to 25% in 2019, reaching $118,000 to $140,000 per year.
- Software Engineers: Average salaries for software engineers increased by 10% to 20% in 2019, reaching $100,000 to $130,000 per year.
- Nursing Professionals: Average salaries for nursing professionals increased by 5% to 10% in 2019, reaching $65,000 to $90,000 per year.
- Regional Salary Trends:
- West Coast: Salaries on the West Coast, particularly in cities like San Francisco and Seattle, continued to be higher than the national average.
- East Coast: Salaries on the East Coast, particularly in cities like New York and Boston, remained relatively high, but saw more moderate growth.
- Midwest: Salaries in the Midwest, particularly in cities like Chicago and Detroit, remained relatively flat, with average salaries increasing by 1% to 3%.
- Salary Compression: With the rise of the gig economy and the increasing popularity of remote work, salary compression became a growing concern. This refers to the phenomenon where employees with similar skills and experience are paid similar salaries, regardless of their job title or industry.
Keep in mind that these are general trends and may not reflect the specific salary structure of your company or industry. It's always a good idea to research salaries for your specific role and location to get a more accurate idea of the market rate.