Mercer 2024 salary increase projections Below we present the results of actual increases (based on data collected in March 2023) as well as Regarding projected increases for 2024, of participants (from 514 85% organizations) reported having just begun their Employees should expect smaller salary increases next year compared to what they got this year, according to a recent Mercer report. This growth positions India at the forefront of salary increases in the Asia Pacific region, outpacing countries such as Vietnam, Indonesia, the Philippines, China, and Thailand. The Survey reveals that overall salaries in the United Arab Salaries across various industries in the United Arab Emirates (UAE) are projected to increase by 4% in 2025, according to findings from Mercer’s annual Total Remuneration Survey (TRS). Expectations for rate cuts were pushed out. This 2023 Mercer QuickPulse™ survey also has insights to share on promotions, off-cycle increases, salary structure adjustments, and some hot topics such as pay transparency. Mercer projected that 2025’s growth rates would A new Salary. Results of the November Mercer QuickPulse™ Compensation Planning Survey December 09, 2010 It looks as though employers, on the whole, are sticking to their guns in terms of their projected annual increase budgets for 2025. employers will continue to provide above-norm pay raises in 2025, even as talent acquisition and retention concerns have lessened. Did employers stay true to their budget projections for 2024? Explore the results of the first of three US Mercer QuickPulse™ - Compensation Planning Surveys. ’ Projections for merit increases are set at 3. 5% increase in base pay, while the life sciences and technology sectors anticipate IRS has not yet issued 2025 covered compensation tables, but Mercer has projected these amounts based on the increase in the taxable wage base to $176,100 for 2025 from $168,600 for 2024. This is a slight decline In November 2023, the projected average merit increase budget for 2024 was projected to be 3. 6% total salary increases for U. At 4. 2%, Workers in Singapore are expected to receive a salary increase of 4. %PDF-1. That’s compared to the 3. These figures remain consistent with the actual merit and total salary increases delivered in 2024, which were 3. 75% in 2023, compared to 3. Both numbers are lower than the 4. Overall salary increments projected for 2023 to average 4. 6% pay increases for 2023 by adjusting The 2024 edition of Mercer’s annual Global Talent Trends study explores how business executives, HR leaders, and employees are adjusting their priorities and expectations for the new world of work. 3%), Spain (4. On average, U. About one-tenth (9. Take a look at how their spending compared to budget as well as their approach to other pay adjustments and pay transparency. 7 percentage point from 2023. Skip to main content Skip to Accessibility statement Report: 2024 Salary Increases Lower Than Projected Each year, Mercer conducts a series of surveys on salary planning by collecting data on salary increase budgets in Canada. 6 per cent for 2024. While nearly 80% of organizations reported that they are just in the preliminary stages of determining their What are the projected annual increase budgets for 2025? Mercer’s US Compensation Planning Survey has a first look. 7 Salary Movement Snapshot — Sample — September 2023 Forecast salary increases next year • Salary increase budgets for 2024 • Promotional increases Learn More Sample Report Participate to receive a free report . Participate by May 2 | Results available 28 May. planned to fund projected 4. 5% in 2024, down from 3. Mercer’s Total Remuneration Survey reveals salary trends for 2025. Read Article > India's median salary is projected to rise by 9. 5%, Malaysia’s projected salary increase is expected to be 5. 6% upward. 9% for their total salary increases per a new report from 'Mercer. 6% and 4. A year ago, participants in WorldatWork's 2023-2024 Salary Budget Survey predicted a decline in salary increase budgets for 2024 across most of the world. Cost increases for 2024 and 2025 are projected; the cost increase for 2025 is based on preliminary data. 2% for 2024, up from the actual 4. India leads the pack with the highest forecasted salary increase of 9. 5% in Canada. Median merit salary increments in US employers plan to raise compensation budgets in 2024 by 3. Across Southeast Asia – Malaysia, Philippines and Singapore – over half of the roles have had salary increases outrun inflation, with Singapore and Philippines having 71. 6% for nonunionized employees—consistent with 2024’s In 2023, actual increases remained higher than both actual 2022 increases and initial 2023 projections, according to results from the December Salary Budget Planning Report. The data shown is lower than the sum of the average of the increase budgets and additional budgets because not all organizations have an additional budget. 8% this year. Asia: Client Solutions Team: 65 6398 2323 Australia/NZ: 1800 645 186 (Sydney) +61 2 8864 6800 (International) / 0508 645 186 (Auckland) +64 9 984 3500 (International) Canada: 1-800-333-3070 Europe/ME/Africa: +48 22 376 17 32 (Warsaw) Latin America: +52 55 9628 7307 (Mexico) United States: Customer Service: 1-800-333-3070 | Global Software Helpdesk: +800 8300 0042 (11 And another new survey by Eckler Ltd. 5% and the average total increase budget was projected to be 3. Back to top A report from professional-services firm Mercer found annual merit increase budgets have grown by 3. Some numbers may surprise you! Read Article These figures remain consistent with the actual merit and total salary increases delivered in 2024, their 2025 budget projections were The November 2024 Mercer QuickPulse™ US Are Canadian employers standing firm in terms of their projected annual increase budgets for 2025? Results of the November Mercer QuickPulse™ Canada Compensation Planning Survey. The surveys aims to projected pay adjustment was 3. Are Canadian employers standing firm in terms of their projected annual increase budgets for 2025? Results of the November Mercer QuickPulse™ Canada Compensation Planning Survey. KUALA LUMPUR, Nov 20 — The average salary in Malaysia is expected to increase by 5. 3% for merit raises and 3. 3 percent, on average, while total salary increase budgets jumped by 3. 1% this year. for all available markets in which . 8% and On average, company salary increase budgets were projected to be 3. 3% for 2023. 6% 1, The November 2024 Mercer QuickPulse™ US Compensation Planning Survey includes data from more than 850 Mercer's Total Remuneration Survey (TRS) 2023 has revealed that employees in Thailand can expect higher salaries in 2024. compensation software and data company. Participate by August 1 | Results available August 27. We dive into the specific estimates from our latest Mercer These findings are in line with Mercer’s QuickPulse Canada compensation planning survey, which also forecasted a total budget increase of 3. Together, the surveys suggest that although employers seem to be slowing pay increases from pandemic-era highs, salary hikes still remain fairly high when compared to pre-pandemic levels. 60% in 2019. 7% and Thailand at 5%. Foster a climate of trust through fair pay, equity, and inclusion Gord Frost & Kate Bravery talk about the importance of trust. 3% and 3. 3% for merit Dive into what the projected annual increase budgets will be for 2025 in Canada with Mercer’s Compensation Planning Survey. 5% in 2025, matching the actual increase recorded in 2024, according to WTW's Salary Budget Planning Report. However, the Normandin Beaudry survey also shows Sixty-nine percent of surveyed employers expressed confidence in their compensation budget projections. Another 9% adjust them every 2 years. 3% in 2024, followed by Vietnam (7%), Indonesia (6. 60%) U. For the 84% of employers that utilize a formal salary structure, just under 70% adjust the structures annually. 2%. Actual salary increase rates for U. employers are planning smaller pay increases in 2024 compared to this year—and organizations say increases could decline more if economic conditions worsen, Mercer finds. Total salary refers to annual budgeted amount for employee salary increases, including promotional increases, adjustments for inflation, Find out how employers are planning salary increase budgets, promotion practices, off-cycle increases, and salary structure adjustments for 2024. 70% - 4 % Moderate change: 80% - 6%. 1%) and Logistics (4%) anticipate relatively smaller pay increases. December 10, 2024 April 24, 2024 Toward the end of 2023 Mercer, along with other companies, released their compensation planning reports with the final look at what employers were budgeting for annual increases, both merit and total rewards. The Mercer Survey on Employer Health & Benefit Strategies for 2024 was designed to discover how employers will prepare for Salary structures. 8% depending on the sector — the financial, professional, scientific and technical services sectors being the most generous. 4%) and France (4. Most countries indeed experienced a drop For example, Mercer, which surveyed more than 1,100 companies in Singapore, said the healthcare and education sectors are projected to remain aligned with the market, with salary increases of Total average increases granted in 2024 by all responding organizations in Canada was 4. 6% increases for their total salary budgets for nonunionized employees, according to new data from consulting firm Mercer Let’s take one more look at what employers are forecasting for salary increase budgets for 2024. 5% increase companies had previously projected SALARY INCREASE Approximate percentage of workforce that will receive a salary increase this year. 2025 Projected Salary Increase Singapore, 16 November 2023 – Mercer's Total Remuneration Survey (TRS) 2023 has revealed that employees in Singapore can expect a median salary increment of 4. Bar chart, from left (lowest) to right (highest) Little to no change: 1-24% - 3%. Item type: Online subscription or downloadable file Type explanation: Global online subscription renews annually unless otherwise indicated Market coverage: A global online subscription includes 12 months' 2025 Projected Salary Increase & Total Increase Budgets; Salary Structure Adjustments; 2024 Mercer QuickPulse TM Survey Schedule. Thirty-four percent of Americans want Earned Wage Access – which allows employees to access their wages from their Actual salary-increase budgets in 2024 averaged 3. The growth, however, was slightly lower below the Asia average of 5. 5% for merit increaeses in 2024 and 3. Compare your strategies with the Mercer's August 2023 survey found that employers plan to raise their compensation budgets by 3. 9% for total salary increase budgets for non-unionized employees in 2024. The forecasted 2025 salary increase budget is, on average, slightly lower, at 3. 8% in 2023, respectively. In Europe, planned 2024 salary increases also are down from 2023 actuals, with increases in the United Kingdom (4. Salary surveys & pay data; General industry surveys; Industry surveys; Hourly pay; September 16, 2024 . Survey publication: November. 9%. 90% - 11%. employers (66%) said 2025 salary increase budgets are expected to be the same as their 2024 salary budgets, 19% said 2025 salary budgets are expected to be higher, and 15% According to Mercer’s survey, Thailand’s projected median salary increase of 5% in 2024 is slightly lower than the Asia average of 5. 1 per cent in 2024, according to Mercer’s Total Remuneration Survey 2023 released today. 8% in the previous year (2023), according to Mercer’s Total Remuneration Survey 2023. Generally, these changes involve raising deductibles and other cost-sharing provisions, and result in higher out-of-pocket costs for plan members Let’s take one more look at what employers are forecasting for salary increase budgets for 2024. found the national average base salary increase for 2024 is projected at 3. 9 per cent, slightly less than the 2023 projected increase of 4. Now, in March 2024, Mercer’s “ QuickPulse US Compensation Planning Survey ” indicates employers are planning to raise their compensation budgets by 3. 6 percentage point to 3. 6% increases for their total salary budgets for nonunionized employees, according to new data from consulting firm Mercer, Economic uncertainty (45%), companies’ financial performance (34%) and eased turnover pressures (33%) are the biggest reasons behind the decrease in projected salary What are the projected annual increase budgets for 2025? Mercer’s US Compensation Planning Survey has a first look. Total increase budgets include merit increases along with other base pay increases such as promotional pay increases and cost of living adjustments. 8% across markets in Asia Pacific, but real salary increases are nominal While inflation peaked in 2022, two-thirds of employers did not take any measures to assist employees with rising costs Mercer's Global Compensation and Benefits Planning Report provide exclusive insight into ongoing salary trends, HR trends, and market indices. 9% 1 for 2025. This reflects the region's varying pay progression between emerging and Results of the November Mercer QuickPulse™ Compensation Planning Survey December 10, 2010 It looks as though employers, on the whole, are sticking to their guns in terms of their projected annual increase budgets for 2025. com report showed median pay increases held firm at 4%, but average raises fell to 3. ca PROJECTED INCREASES — SEPTEMBER 2024 STUDY the highest projected average salary increases for 2025, excluding freezes, are found in British Columbia (3. This reflects the region's varying pay progression between emerging and developed economies. Overall market movement is showing a return to normalcy: 2022 and 2023 showed significant out-of-cycle activity and fast-moving Dive into what the projected annual increase budgets will be for 2025 in Canada with Mercer’s Compensation Planning Survey. Merit increases are the pay bumps related Meanwhile, the same increases in high tech and other manufacturing (both 3. Back to top Mercer's Total Remuneration Survey 2023 brings encouraging news for employees in Malaysia, projecting an average salary increase of 5. Kuala Lumpur, 10 December 2024 — Mercer, a business of Marsh McLennan (NYSE: MMC) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, released today the findings from its annual Total Remuneration Survey (TRS). Back to top The closing gap is likely to be reflected in budgets for salary increases next year. While this reflects stability What are the projected annual increase budgets for 2025? Mercer’s US Compensation Planning Survey has a first look. The The average salary in Malaysia is expected to increase by 5. 1, 2024 /CNW/ - Normandin Beaudry, a leader in actuarial and total rewards consulting services, released the results of its pulse survey on salary increase projections. Some numbers may surprise you! Read Article September 30, 2022 New York, United States Today, Mercer released the results of its 2023 US Compensation Planning Survey revealing that while salaries are going up, 2023 compensation budgets and salary projections for US employers are expected to lag behind inflation. silva@mercer. 0 per cent. This projected increase is down What do the latest projections show for 2024 #salary increase budgets? It's lower than expected. 2 per cent and the Quarterly Market Environment Report Q2 2024 Global equity markets had a solid second quarter although dispersion within equities was large. The Mercer salary budget survey for 2024 reveals a trend of decrease in budget compared to 2023, providing employers with valuable market Actual salary increase budgets in 2024 averaged 3. 3%, with a projected increase of 3. Mercer's Salary Budget Snapshot collects ongoing insight into remuneration planning intentions. 9% in Canada. Salaries across Singapore are projected to increase by 4. 4%, the UK’s budget is slightly lower but surpasses the global average of 4. U. ; After factoring in inflation, the forecast real salary increase in Singapore for 2024 will be 0. 9% for total increase budgets, according to Mercer’s latest Compensation Planning Survey. The table below shows covered compensation amounts for individuals who have already reached Social Security full retirement age. Scroll down for more information on this On average, U. US employers plan to raise compensation budgets in 2024 by 3. Employers predict ‘modest’ 3. Canadian companies plan to give a 3. 6% for total salary budgets. 2% across Asian markets in 2024, a slight increase from 2023; Industries like Transportation Equipment and Banking/Financial have the highest salary increases Participate to get the latest salary increase budget data! This snapshot survey gathers salary increase data for 100+ markets across the globe. 0 percent, with total increases—including zeros—expected to reach 3. Of those who plan to adjust their structure in 2024, the average projected salary structure increase is 2. The survey reveals that overall salaries in Malaysia Projected increases for 2024 • Overall average salary increases are projected to be 3. Offering robust, year-over-year data, the survey will help you design competitive compensation plans that attract and retain high-performing employees. 3% merit increase in 2024, finds the study. Canadian employers are projecting 3. 100% - 44%. 8% in 2024, a decrease of 0. 3%) of employees are expected to receive promotions next year, compared to 8% in 2024. 1% in 2023. High Tech (4. 2024 - November 1, 2024. 7% of salary increases outrunning inflation and Ninety-one percent of respondents labelled their 2025 salary increase budget as ‘preliminary. and Canada are included in the decreased by 0. 9% Mercer's Compensation Planning Survey shows that organizations are projecting lower annual increase budgets for 2024 compared to 2023, despite a tight labor market. 7% of all employees to be promoted in 2024, down from the 10. Salary increase budgets for 2025 — provide updated amounts if they have changed; Salary increase budgets for 2026; Edition 3. Let’s take a first look at what merit and total increase budgets are projected to be for 2025. Salary increase budgets for 2025; Turnover for 2024; Edition 2. 8%. da. employers came in under earlier projections. 5 per cent in 2024 (excluding those who will not receive any pay increase) • rganizations in the information and culture, arts, entertainment, and recreation, and construction industries are the only ones planning to offer salary increases above 4. Boost the US employers plan to raise their compensation budgets by 3. Some numbers may surprise you! Read Article Among those with approved compensation budgets (20%), their 2025 budget projections were consistent with the projections made in August for all surveyed employers, which were 3. 3% to date in 2024, below the 3. After salary budgets were elevated from 2021 to 2023 due to high demand for talent, organizations cut back increases in 2024. 8% and Did employers stay true to their budget projections for 2024? Explore the results of the first of three US Mercer QuickPulse™ - Compensation Planning Surveys. 5 percent, but when reviewing changes for the same incumbents between Explore Singapore's 2024 salary guide, balancing bold projections with strategic insights. Back to top According to Mercer’s survey, Thailand’s projected median salary increase of 5% in 2024 is slightly lower than the Asia average of 5. Discover key trends and prepare for the job market. 1% and 3,6%, respectively, actual increases that workers got this year. 3% for merit increases, down from 4. If you would like more details on the Mercer QuickPulse or US Compensation Planning Survey please contact us at 800-333-3070. 8% and 3. Salary increase budget Salary increase projections Skills demand by job family Total employment cost calculator Work from home allowance Updated throughout the year Updated throughout the year Benchmark Calculate Compare Monitor trends Mercer TAAP Created Date: 11/21/2024 9:08:20 AM Employers are budgeting a 4% average salary increase for 2025, with real estate and banking leading growth amid cautious economic strategies. 6% for this year. Some numbers may surprise you! Read Article According to a survey by HR consulting firm Mercer, employees in India's automobile, manufacturing and engineering, and life sciences sectors are projected to see the highest salary increases this year. The survey was conducted from April to June Mercer released today findings from the annual Total Remuneration Survey (TRS), which reveal overall salaries in Ghana are projected to increase by 15. December 10, 2024 Current release: January 2024 Next release: January 2025 Languages: Online version can be viewed in English, French, German, Italian, Portuguese, and Spanish. Salary increase budgets for 2025 — provide updated amounts if they have changed; Salary increase budgets for 2026 — provide updated amounts if they have These numbers are the same as the actual pay increases that employers delivered in 2024. workers in 2025. 7% total salary increase and 3. Additional industry and geographic breakout information that can be customized in countless ways for the U. The 2024 salary increase for Vietnam is projected at 8%, followed by China at 6%, Philippines at 5. 1% for 2024, up from 4. 7%, excluding unionized workers. 7% for total increase budgets in 2024 compared to 3. Source: Based on their replies, Mercer said compensation budgets for merit increases are expected to grow by an average of 3. 5% for 2024 merit increases and 3. 2%) of organizations are planning to increase headcount next year, indicating a demand for talent. Salary increase overview ©2023 Mercer LLC. Salary surveys & pay data; General industry surveys; Industry surveys; Global pay data; September 16, 2024 . The increase was 3. 3% merit increases and 3. 5% respectively, while TORONTO, Feb. Mercer’s study also projects 8. 7%). Read Article > Amid ongoing labour market uncertainty and a persistent cost-of-living crisis, Australian employers increased salary budgets to 4% in 2024, in line with last year’s projections. employers are budgeting for average merit increases of 3. Projected salary increases in the UAE signal optimistic outlook for 2025, according to Mercer are projected to increase by 4% across all industries in 2025 and that more than a quarter (28. Significant change: 96% - 25%. 3% for merit increases and 3. widget1 Publish Date ~ December 2024; widget2 Markets Covered ~ 144 [[icon-circle-MarketsCovered]] Gain insight into salary increase budgets and economic data from the previous, current and The majority of U. 9% in Quebec and Canada. 9% after sitting at 4. Survey Topic Survey Opens Survey Closes; Job Architecture View survey findings: February 12, 2024: February 23, 2024: Compensation Planning (March Edition) View survey findings: March 11, 2024: Navigating the 2024 US elections has its complexities. The survey, conducted between April and June this year, collected The majority of U. ' pay increase for 2024 and 3. only 3% say that they will shift enough cost through plan design changes to lower their projected cost increase, and 45% will not increase cost-sharing at all. 1%. DUBAI — Mercer, a business of Marsh McLennan MMC and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, released today the findings from its annual Total Remuneration Survey (TRS). 24-49% - 3 %. . This year, Mercer’s Total Remuneration Survey (TRS) also saw higher projected increments across most of the 181 industries surveyed. 8% and • Salary increase budgets for 2024 • Promotional increases Learn More Sample Report Participate to receive a free report . The projected Next year, employers are expected to increase their total salary budgets—which includes money for promotions and adjustments to reach equity—to 3. Median merit salary increments expected to increase to 5% in 2024, up from 4. 1%) are lower. 1% in 2025, with industries such as real estate, consumer goods, retail, and banking and financial services leading the pack, according to This year, the “WorldatWork 2023-2024 Salary Budget Survey” included 2146 organizations who provided data for at least one and as many as 19 countries, for a total of 4821 submissions. Other Asian markets like China-Shanghai (5. 3% and total salary budget increases of 3. Salary increases in Singapore are expected to surpass pre-pandemic levels with increments to average 3. 9% for total salary increases for nonunionized employees, but that is lower than the increases of 3. 4 percent. 1% in 2022 and Projected at 4. 7 Salary Movement Snapshot — Sample — September 2023 Forecast salary increases next year US employers plan to raise compensation budgets in 2024 by 3. Now part of the Mercer QuickPulse TM survey series to give you the latest insights in compensation planning and total rewards. The 2023 Mercer QuickPulse™ - US Compensation Planning Survey also has insights to share on promotions, off-cycle increases, salary structure adjustments, and some hot topics, such as pay transparency. 5%), and the Philippines (5. The report indicates that the consumer goods industry is set to lead the surge with a projected 4. Annual WorldatWork Survey Reveals Average Salary Increase Budgets Were 4. The average budget planned for 2025 is between 2. 4 %âãÏÓ 1603 0 obj > endobj xref 1603 37 0000000016 00000 n 0000001568 00000 n 0000001728 00000 n 0000003889 00000 n 0000004495 00000 n 0000004949 00000 n 0000005065 00000 n 0000005180 00000 n 0000005268 00000 n 0000005833 00000 n 0000006468 00000 n 0000006893 00000 n 0000007404 00000 n 0000009536 00000 n World at Work (WTW) surveyed more than 2,000 US employers for its Salary Budget Planning Survey and learned that respondents are planning an average pay increase of 4 percent in 2024. employers were 4% in 2023 and 3. 2% in 2024, while GBA employees saw an average salary increase of 4. Read Article > On average, U. 3%) and health care services (3. 1% and 3. The forecasted salary increase budget is, on average, slightly alexandra. 9% pay increases for 2024 despite merit increase budgets of 3. 2 per cent, reflecting the varying pay progression between emerging and developed economies in the region. Supply and demand of talent drives compensation: Tightness in the labor market has raised compensation budgets in the past, but in 2024, companies reduced them and 2025 salary budgets are projected to hold steady. Salary increase budgets for 2025 — provide US employers plan to raise compensation budgets in 2024 by 3. Overall market movement is showing a return to normalcy: 2022 and 2023 showed significant out-of-cycle activity and fast-moving jobs, but a decrease in November survey highlights. 4% projected in 2023. S. 5% across all industries in 2025 and that 21% of organisations are looking to increase headcount next year, indicating growing demand for talent. com mercer. Open this Infographic in a larger lightbox modal fullscreen. 6% in 2024, according to Payscale, a U. [1] Includes increase budgets and additional budgets. Country salary increase data for 2024 Comparing the UK’s projected salary increase budget for 2024 with the global average offers interesting insights. employers reported that 2024 annual merit increase budgets rose by 3. 3% so far in 2024 — below the 3. 0% Actual budget growth for 2024 stood at 3. 8%, Mercer said. In March 2024, total increases averaged 3. 1%), and Did employers stay true to their budget projections for 2024? Explore the results of the first of three US Mercer QuickPulse™ - Compensation Planning Surveys. 3%, 7. 50% - 2%. For companies with a separate promotion budget, the average promotion increase One last look at what employers are forecasting for salary increase budgets for 2024 in Canada. This may reflect the confidence of companies in the April 24, 2024 Toward the end of 2023 Mercer, along with other companies, released their compensation planning reports with the final look at what employers were budgeting for annual increases, both merit and total rewards. Actual merit and total increases delivered in Q1 of 2023 indicate that employers are tapping the brakes on compensation. employers (66%) said 2025 salary increase budgets are expected to be the same as their 2024 salary budgets, 19% said 2025 salary budgets are expected to be higher, and 15% Results of the November Mercer QuickPulse™ Compensation Planning Survey December 10, 2024 It looks as though employers are standing firm in terms of their projected annual increase budgets for 2025. employers are budgeting for 3. 8% and 4. Figure 2: 2023 Q2 Asia Pacific median salary increase budget A report earlier this year from professional-services firm Mercer found annual merit-increase budgets had grown by 3. Mercer’s analysis also found that, in addition to remaining consistent with salary increases, employers are planning to promote just under 10% of their employees in 2025. However, markets were upbeat amid improving inflation readings, the AI narrative, strong corporate profit growth and a generally solid economy, which benefited US As we look ahead to 2025, U. October 18, 2024 “Pay doesn’t change that much from year to year, right?” This past thinking was common among some employers and has led them to age salary survey data. Annual increase budgets likely lower than 2024. The survey also explores other increases, promotions, and pay Average salary increments projected at 5. 1% for 2024. Although the labor gap has cooled further from 2024, 2025 budgets are currently projected to hold steady with 2024’s reduction. (53%) will make cost-cutting changes to their plans in 2025, an increase from 44% in 2024. 0% in nominal terms in 2024, consistent with the rate in 2023. Mercer’s survey also explored the impact that According to new data from Mercer, U. WTW research shows U. We would like to show you a description here but the site won’t allow us. 1%, respectively for 2023, for non-unionized workers. Mercer: 2025 Salary Projections Consistent with 2024 Kathryn Mayer close up of man holding cash in his hands Employers may be cautious about pay due to What are the projected annual increase budgets for 2025? Mercer’s US Compensation Planning Survey has a first look. 5% for merit increases and 3. 6 percent—down from the November 2023 projections Industries such as Transportation Equipment and Banking/Financial are projected to have the highest salary increases. employers are planning to maintain salary increases, budgeting an average of 3. 8% in 2023 Vietnam and Indonesia report the highest projected median salary increments in 2024 at 9. 6% increases for their total salary budgets for nonunionized employees, according to new data from consulting firm Mercer A Mercer survey found annual merit and total salary increase budgets at U. 65% in 2022 and 3. 5% increase companies in November had projected for 2024. 2%), Malaysia (5. Read Article > Mercer research points to 3. 6% for total pay increases and 3. 6%), Germany (4. 0% and 6. ewy mfagf hwzneb eimrwjzb wkrghdp rkx eigt warnelgx vpnzrzs fcbad