US employers more conservative with salary budgets as employee base stabilizes
WTWWillis Towers Watson(WTW) GlobeNewswire News Room·2024-07-15 23:55

NEW YORK, July 15, 2024 (GLOBE NEWSWIRE) -- Almost half (47%) of U.S. organizations report that their salary budgets for the 2024 cycle are lower than the previous year, as the overall median pay raise for 2024 fell to 4.1%, compared with 4.5% in 2023. That’s according to the latest Salary Budget Planning Report by WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company. The report found employers are being more conservative with their salary budgets as they anticipate lower demand resul ...