Salary Budget Increase For 2024. Employers are planning an overall average salary increase of 4 percent for 2024, according to the latest salary budget planning survey by consulting firm wtw, which surveyed more than. The survey found employers are budgeting an average increase of 4% in 2024.

Total salary increase budgets are projected to rise by 4.1 percent for 2024, on average, a small step down compared to 2023, but still elevated compared to prepandemic. And though increases are expected to be down in 2024, they look to remain high, according to data from wtw’s december 2023 salary budget planning report.