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- Anticipated salary increases for 2024 are as follows1234:
- U.S. employers plan to raise compensation budgets by 3.5% for merit increases and 3.9% for total salary increases for nonunionized employees1.
- Payscale predicts an average pay increase of 3.8% in the U.S., with higher increases in some states, industries, and other countries2.
- WTW advises companies that employers plan to offer an average salary increase of 4% in 2024, slightly lower than in 20233.
- Organizations are predicting an average base pay increase of 4.5% in 20244.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.According to recent data from consulting firm Mercer, U.S. employers plan to raise compensation budgets in 2024 by 3.5% for merit increases and 3.9% for total salary increases for nonunionized employees.money.usnews.com/careers/articles/how-much-wil…Payscale —a provider of compensation data, software and services—reports that its eighth annual Salary Budget Survey found pay increases in 2024 are predicted to be 3.8% on average in the U.S., instead of the 3% that has been the standard for decades. And it projects higher increases in some states, industries and other countries.hrexecutive.com/pay-raise-projections-for-2024-ar…Employers plan to offer an average salary increase of 4% for 2024, according to a new survey from WTW, which advises companies on compensation issues. That figure is slightly lower than in 2023, when raises averaged 4.4%, but still tops the roughly 3% increase companies were offering in previous years, the consulting firm found.www.cbsnews.com/news/pay-raise-salary-increas…Workers can expect salary increases in 2024 that are projected to outpace — not just approach or meet — inflation, according to the results of several recent studies. Organizations are predicting an average base pay increase of 4.5% in 2024, according to Payscale’s 2024 Compensation Best Practices Report.worldatwork.org/resources/publications/workspan-d… - People also ask
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