Shrm 2024 Salary Increase Projections. As organizations continue to prepare their salary budgets to attract and retain talent in 2024, the market data suggests a pullback on 2023’s final increase budgets. Payscale’s new salary budget survey, which polled compensation professionals at 1,550 organizations between april and june, found that u.s.
Employers are budgeting for 3.3% merit increases and 3.6% increases for their total salary budgets for nonunionized employees, according to new data from consulting firm mercer,. Employers reported that 2024 annual merit increase budgets rose by 3.3 percent, on average, while total salary increase budgets jumped by 3.6 percent—down from the november 2023.