Industrial psychologists, information security analysts and biochemists weren't six-figure jobs nationally before the pandemic. But they are now.
Those are three of the 12 occupations for which median annual salaries reached six figures nationally between 2019 and 2021, according to a new analysis of Bureau of Labor Statistics data byThose gains came as salaries soared since the economic recovery ramped up after the initial shockwaves of the pandemic, with a tight labor market and elevated turnover ratesOne of the biggest jumps was for industrial and organizational psychologists, which saw median annual salaries grow from about $92,880...
Companies have been worried about slipping productivity and employee burnout since 2020, and industrial psychologists have been in demand as they help organizations navigate those challenges.does not cover 2022, in which record inflation pushed prices, costs and salaries even higher.Employees have seen wages skyrocket since the middle of 2021, as companies competed for scarce workers amid massive demand for goods and services. In June 2022, workers saw 6.
The Federal Reserve Bank of New York found the average reservation wage, which is the lowest wage survey respondents would accept for a new job, increased to $73,667 in November — the highest it had recorded.Quit rates are down from their record peak during the pandemic, but still above pre-pandemic levels. Experts say companies would be wise to prioritize and pay up for their best workers before they get an offer from another employer.
Companies also shouldn’t forget the nation remains in an inflationary environment. While that limits employers’ flexibility on pay, it also means raises won’t go as far as they did two years ago —