Typical Merit Increase 2024. For 2024, employers said they plan merit increases of 3.5%, compared to 3.8% actual merit increases in 2023, the sept. One type of incentive you might want to consider for your workers is a merit increase.

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. Employers are planning an overall average salary increase of 4 percent for 2024, according to the latest salary budget planning survey by consulting.