Although more salary increases are expected in 2012, compared to 2011, employers will continue to focus on variable pay, according to Aon Hewitt's annual U.S. Salary Increase Survey.

The findings indicate there is a projected 2.9 percent base salary raise in 2012 for salaried exempt employees, executives, salaried nonexempt and non-union hourly workers, which is a slight increase from 2011 for all groups.

"Three percent is the new 4 percent, meaning we are not likely to be back to the 4 percent levels of the late 1990s any time soon," says Ken Abosch, Aon Hewitt's compensation group leader.  "Employees should also keep in mind that despite employers anticipating increases, if current economic conditions continue, the 2012 projections may come in lower than anticipated."