Merit salary increases are expected to stay steady at 3.3% in 2025

Dec 13, 2024 · Next year, employers are expected to increase their total salary budgets—which includes money for promotions and adjustments to reach equity—to 3.7%, excluding unionized workers. The increase was 3.6% for this year. About one-tenth (9.3%) of employees are …

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Merit Salary Increases Are Expected To Stay Steady At 3.3% In 2025

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Despite Economic Uncertainty, US Employers Maintain Elevated ...

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Dec 10, 2024 · The technology sector reported above-average compensation budgets, with increases of 3.5% for merit and 3.8% for total compensation, while the healthcare services …

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Merit Salary Increases Are Expected To Stay Steady At 3.3% In 2025

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Dec 13, 2024 · espite a softening job market, US employers are expected to grant merit increases of 3.3% to non-unionized employees in 2025—the same rate as this year, according to a …

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Mercer: 2025 Salary Projections Consistent With 2024

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On average, U.S. employers are budgeting for 3.3% merit increases and 3.6% increases for their total salary budgets for nonunionized employees, according to new data from consulting firm …

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Employers Plan To Stay Consistent With Compensation Budgets In …

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Jan 6, 2025 · Meanwhile, the health care services industry reported below-average increases for merit (3%) and total compensation (3.5%). Pay Picture for 2025. Various other estimates have …

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Salary Increase Projections 2025 (and 2024) - SHRM

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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, …

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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 …

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Merit And Pay Increases For 2025 - What To Expect

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Aug 20, 2024 · For 2025, projections suggest that merit increase budgets will range between 3.8% and 4.0%. However, it's important to recognize that different data sources may present …

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Compensation & Benefit Trends To Watch In 2025 | NFP

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Dec 11, 2024 · Average salary increase budgets in 2024 were 3.9%, down from 4.4% the previous year. ... In addition to general and merit increases, 70% of organizations are planning …

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Employers Budgeting For 3.5% Pay Raises Next Year - SHRM

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Aug 13, 2024 · 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 …

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Employers Planning Lower Pay Raises In 2025 - SHRM

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Jul 22, 2024 · Empsight similarly projects that total salary increase budgets will be 4% for 2025, while median merit budgets are projected to be 3.5% for 2025. ... (The average salary …

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FAQs about Merit salary increases are expected to stay steady at 3.3% in 2025 Coupon?

Are employers budgeting for salary increases in 2025?

U.S employers are budgeting for 3.3% merit increases and 3.6% total salary increases for non-unionized employees in 2025, according to Mercer’s August 2024 QuickPulse U.S. Compensation Planning Survey. The survey asked more than 1,100 U.S. employers to share their preliminary budget projections for 2025. ...

What is the preliminary status of the 2025 merit increase budget?

The preliminary status likely explains why their projected 2025 merit increase budget and total increase budget of 3.3% and 3.6%, respectively, are exactly what was reported as the actual increases delivered in March 2024. Come November 2024 and March 2025, we will see what is finally budgeted and then delivered. ...

What is the average merit increase budget?

Healthcare Services reported the lowest average merit increase budget at 3.0%, though they do seem to make up for it a bit with an average of 3.5% budget for total increases, which is closer to the national average. Insurance & Reinsurance as well as Retail & Wholesale are projected below the national average as well, with merit budgets of 3.2%. ...

Are employers pegging salary increases lower in 2025?

Employers—at least so far—are pegging overall salary budget increases even lower, WTW found, with organizations predicting a 3.9% jump in 2025. Empsight similarly projects that total salary increase budgets will be 4% for 2025, while median merit budgets are projected to be 3.5% for 2025. ...

Will Mercer's salary increase budget be lower in 2025?

Mercer data showed the current projected total salary increase for next year matches the actual pay increases organizations delivered in March 2024. The firm, however, predicted actual increase budgets for 2025 will be lower, continuing a recent downward trend. Access bonus Workspan Daily Plus+ content on this subject: ...

What are the benchmarks on average merit increases for 2023?

What are the compensation benchmarks on average merit increases for 2023? According to data from SHRM, the “labor market and inflationary pressure” are driving “higher-than-projected salary growth.” Companies in the US are expected to increase pay by an average of 4.6 percent in 2023. That’s up from 4.2 percent in 2022. ...