US Salary Increase Budgets 2023–2024
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US Salary Increase Budgets

US Salary Increase Budgets 2023–2024

17 October 2023 / Report

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CEO Insight Minute: What Will 2024 Salary Increase Budgets Look Like?

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CEO Insight Minute: What Will 2024 Salary Increase Budgets Look Like?

Facing labor shortages, companies have raised their salary increase budgets more than at any time since 2001.

Total salary increase budgets in 2023 are significantly above prepandemic levels and are projected to remain elevated in 2024, according to our latest survey, US Salary Increase Budgets 2023–2024.

Total salary increase budgets in 2023 are significantly above prepandemic levels and are projected to remain elevated in 2024, according to our latest survey, US Salary Increase Budgets 2023–2024.
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Authors

Judit Torok

Judit Torok Judit Torok

Research Associate
The Conference Board

Read Bio

Selcuk Eren

Selcuk Eren Selcuk Eren

Former Senior Economist
The Conference Board

Read Bio

Lisa Hunter

Lisa Hunter Lisa Hunter

Senior Fellow and Program Director
The Conference Board

Read Bio

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