Shrm Salary Budget 2024. Salary budget growth slowed in 2024. Companies plan to increase salaries in 2024 at the same level or higher than this year, according to the company's salary budget survey,.
Plan to raise their compensation budgets for merit increases by 3.5% for 2024, compared to the 3.8% they awarded in 2023. Employers are planning for 3.5% pay raises on average.
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