Average Salary Increase For 2024. Employers are planning an overall average salary increase of 4.0% for 2024, in contrast to many economists predicting lower u.s. Companies expect to give out 4.5% raises this year — a dip from the 4.8% average bump given in 2023, per a new survey of human resources professionals out.

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. Among some industries, however, base salary increases reported by respondents may.