Hospital-based physicians are predicted to receive a 2.3% increase in base salary in 2011, according to a new healthcare salary survey by the Hay Group management consulting firm. This increase is just under the 2.7% raise forecasted for nurses this year.
All healthcare employees are projected to receive a 2.6% increase, up from 2.3% in 2010. The survey was conducted in November 2010 and covers 90 hospitals and health systems in the United States. The Federal Open Market Committee of the Federal Reserve estimated in November that inflation in 2011 would fall between 1% and 2%, so a 2.6% increase would keep healthcare employees ahead of the inflation rate.
Base salaries across all industries are expected to rise by 2.8% in 2011. That said, almost 20% of employers indicated on the Hay Group survey that they would freeze salaries at every level. Only 4% plan to institute a freeze in the healthcare field.