Salary Increase Projections 2025 (and 2024) - SHRM

Various resources regarding salary increase projections for 2025 and related factors for employers to consider.

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2025 Compensation Trends: Pay Transparency, Slowing Raises, And …

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Jan 23, 2025 · Consulting firm WTW found that planned salary increases will be 3.7% in 2025 on average, compared with the 3.8% average budget increases awarded in 2024.

shrm.org

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Conference Board Projects 3.9% Salary Increase Budgets For 2025

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Sep 19, 2024 · The research report, U.S. Salary Increase Budgets 2024-2025, provided signs of continued strength in American employment and compensation, as projected salary budget …

worldatwork.org

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How Big Will Raises Be In 2025? Here's What Employers Say | Money

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Sep 20, 2024 · On average, employers said they plan to increase their salary budgets by 3.9% next year. Proposed budgets tend to mirror actual increases quite closely in The Conference …

money.com

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U.S. Employers Forecast 3.5% Pay Increases In 2025, Payscale’s …

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Jul 31, 2024 · Actual pay increases in 2024 are 3.6% on average compared to 4% last year, indicating that annual raises are softening in a cooler labor market. While employees in …

payscale.com

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NJ’s Minimum Wage To Top $15 — Where Does It Go After 2024?

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Dec 26, 2023 · The statewide minimum wage will increase $1 to a total of $15.13 per hour when the calendar turns to January.

nj1015.com

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NHL Salary Cap Projected To Soar $25.5M After Stagnant Six Years

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1 day ago · The NHL and its union announced a significant increase to its salary cap over the next three years, projecting a jump from $88 million this season to $113.5 million for the 2027-28 …

yahoo.com

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How Much Salary Cap Space Detroit Lions Have Heading Into 2025

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16 hours ago · The estimations are projected on a base salary cap estimation of $272,500,000. That amount would be an increase of $17.1 million from last year's cap.

si.com

FAQs about Salary Increase Projections 2025 (and 2024) - SHRM Coupon?

Will US employers raise compensation budgets in 2024?

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, but that is lower than the increases of 3.8% and 4.1% respectively planned for 2023, according to a report by Mercer. ...

Will pay increases increase in 2024?

In summer 2024, compensation firm Payscale found that U.S. employers are planning for 3.5% pay raises on average this year—a dip from the past couple of years—due to a cooling labor market. Consulting firm WTW found that planned salary increases will be 3.7% in 2025 on average, compared with the 3.8% average budget increases awarded in 2024. ...

Are 2025 salary increase budgets the same as 2024 salary budgets?

The majority of U.S. employers (66%) said 2025 salary increase budgets are expected to be the same as their 2024 salary budgets, 19% said 2025 salary budgets are expected to be higher, and 15% said they expect them to be lower. Some or all studies may require download and/or purchase. Related Resources ...

What percentage of employees will be promoted in 2025?

Mercer’s analysis also found that, in addition to remaining consistent with salary increases, employers are planning to promote just under 10% of their employees in 2025. For companies with a separate promotion budget, the average promotion increase budget for 2025 is 1%, down slightly from 1.1% in 2024. ...

Will employers offer pay raises in 2025?

Amid a tight labor market and the persistent pinch of inflation, employers are gearing up to offer pay raises in 2025. According to the latest Salary Budget Planning Report by WTW, a global advisory, broking and solutions company, overall salary budget increases are expected to hover around 3.9% in 2025. ...

Are employers planning to dole out pay raises in 2025?

Various research finds that employers are planning to dole out pay raises in 2025 similar to those they awarded in 2024—although slightly lower. A recent report from Mercer found that employers expect to increase total salary budgets for nonunionized employees by 3.7% on average, compared with the 3.8% average budget increase awarded in 2024. ...