Salary Improvements Likely for Security Industry in 2021

2020 SIA Salary Adjustment Poll

There’s good news ahead for security industry professionals.

A new poll from the Security Industry Association indicates that while there are mixed opinions on whether businesses will be able to offer salary increases in 2021, nearly two-thirds (65.8%) said that increases for employees were somewhat likely or very likely in 2021 with approximately half of all respondents indicating raises were very likely.

Approximately 50% of respondents indicated salary/wage increases were very likely in 2021.

The results were from a survey conducted among SIA members in late August and September 2020 and reflected a roughly 6% corporate response rate.

For those companies that responded they were likely to provide raises to security industry employees in 2021, they were also asked what the expected percentage increase would be. Approximately 41 percent said they would likely increase compensation by 2-3 percent, and approximately 28 percent said the increase would be between 3 and 4%. Roughly 10 percent said that increases would be less than 1 percent, while another 10 percent of respondents said that increases would be more than 5 percent.

Most likely pay increases for 2021 fell in the 2-3% and 3-4% ranges.

Overall, the data seems to align with a general return to confidence in the industry that was reported in the September/October 2020 edition of SIA’s Security Market Index, a regularly published industry confidence report.