2023 U.S. Total Compensation Increases Averaged 4.1%

A Mercer survey found that U.S. employers reported 2023 annual merit increases averaged 3.8% while total compensation increased by an ...

Employment Cost Index - September 2024 - Bureau of Labor Statistics

Compensation costs for private industry workers increased 3.6 percent over the year. In September. 2023, the increase was 4.3 percent. Wages and ...

Salary Increase Projections 2024 (and 2023) - SHRM

US employers plan to raise compensation budgets in 2024 by 3.5% for merit increases and 3.9% for total salary increases for nonunionized employees.

Survey: 2023 US Salary Increase Budgets Reach 22-Year High

US companies raised their budgets for employee salary increases by an average of 4.4 percent in 2023. That's the highest year-over-year growth since 2001.

Employment Cost Index Summary - 2024 Q03 Results

... increased 4.1 percent for the 12-month period ending in September 2023. ... total compensation, and wages and salaries, for private ...

2023 Compensation Increases Largest Since 2008 Financial Crisis

Some employees are expecting even more: Globally, 10 percent of workers expect a salary boost of more than 15 percent in the next 12 months, and ...

US Compensation Planning Survey Summary | Mercer - iMercer.com

However, when looking at base pay changes from October 2022 to March 2023, the national average base pay increase was only 3.4%, while the ...

Employers Budgeting 4.1% Pay Raises in 2024 - WorldatWork

WorldatWork's 2023-2024 Salary Budget Survey finds that employers are projecting to budget an average of 4.1% for salary increases in 2024.

Workers could see average raises of 4.1% in 2023 - CNBC

In another sign of a tight labor market, U.S. companies plan to give workers their largest pay increase in 15 years in 2023, according to a ...

The Future Of Salary Increases: Why Next Year Might See A Decline

According to a new poll by WTW, a consulting firm, the typical worker can expect a 4.1% pay raise for 2025, down from 4.5% this year. Based on ...

Compensation Increase Trends in 2023 - NFP

So how have increases played out so far? Mercer's recent survey revealed that 2023 annual merit increases averaged 3.8 percent, while total ...

US employers plan more modest compensation increases in 2024

This compares to actual merit increases of 3.8% and 4.1% for total salary increase budgets for non-unionized employees in 2023.1. “While ...

Employers plan 4.1% pay raises for 2023 - HR Dive

Companies in the U.S. are planning to increase employee salaries by an average of 4.1% overall in 2023, WTW's recent Salary Budget Planning ...

Inflation is 8.3%. Raises next year will average 4%. Do the math.

The surveys, conducted by the country's top providers of compensation data, show that most companies are planning salary increases for 2023 that ...

2023 looks to be a 'banner year' for salary increases - HR Executive

The long predominant 3% raise, which started its decline last year, has been replaced by a median raise of 4% across all employee categories, ...

Budgets for salary increases rise at historic rates

Budgets for employee salary increases have grown by an average of 4.4% in 2023, the highest increase in more than two decades, according to a long-running ...

2023 Set to See Largest Salary Increases in Over 20 Years

According to our US Salary Increase Budgets Survey 2022–2023, US companies are budgeting 4.3% of their total payroll spending on salary increases in 2023.

Is your compensation budget ready for 2023?

... average salary increases, off-cycle pay increases, and upgraded benefits packages ... In 2022, average salary budget increases were 4.1%, ...

Salaries could rise an average 4.1% in 2023, report finds - WICPA

A new report projects salary budgets for U.S. employees to increase in 2023, mainly influenced by a labor market with more open jobs than ...

U.S. pay raises to remain high 2024 WTW survey finds

ARLINGTON, VA, December 7, 2023 – U.S. employers are planning an overall average salary increase of 4.0% for 2024. That's according to the ...