2025 Merit Increase Projections. Those on the lower end include insurance &. Mercer’s latest salary data finds that organizations are planning for merit increases of 3.5% in 2024 and for total salary increase budgets to be at 3.9%.
Only the total increase budget changed from. Almost half (44%) of organizations plan to increase their merit budgets in 2023, reflecting pressure from the continued inflationary environment and competitive.
Provides Data On Compensation Increase Budgets, Salary Structure Adjustments, And Promotion Budgets For A Variety Of Industries.
Though down from the actual increase of 4.4% in 2023, the number remains.
A New Survey Out From Consulting Firm Mercer—Which Comes On The Heels Of Several Other Compensation Prediction Surveys—Finds That Employers In The U.s.
More than half of organizations (58%) reported higher salary budget increases this year compared to 2022 and 2021 actual numbers, according to the july report.
On average, organizations indicated that they are projecting 3.5% for merit increase budgets and 3.9% for total increase budgets, compared to 3.8% and 4.1%, respectively,.
Employers Are Projecting 4.1% Pay Increase Budgets In 2024 And 3.6% Merit.
In november 2022, participants of the us compensation planning pulse survey reported that they were budgeting 3.9% for merit increases and 4.3% for.