US Salary Increase Budgets 2022-2023

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US Salary Increase Budgets

US Salary Increase Budgets 2022-2023

28 September 2022 / Report

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The Conference Board 2022-2023 Salary Increase Budget Survey finds that employers adjusted total salary increase budgets upward for 2022. Employers originally planned for a total average salary increase budget of 3.6 percent of total payroll in 2022, but the actual total increase budget was boosted to 4.1 percent. Additionally, the total salary increase budget for 2023 is projected to increase even further to 4.3 percent. Additional insights and analyses are included in this report; 250 organizations completed the survey, which was fielded from June 30 to July 29, 2022. Data were requested for four employment categories: nonexempt hourly (non-union), nonexempt salaried, exempt, and executive. Results are reported overall, by industry, by revenues, and by number of employees.

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