We are pleased to share the results of our 2023 annual Compensation Planning Survey. The survey was conducted from June to August 2023 and collected responses from 370 organizations.
Survey results reveal the national average base salary increase for 2024 is projected at 3.9% (excluding planned salary freezes) – slightly less than the 2023 projected increase of 4.2% and the 2023 actual base salary increase of 4.4%.
With nearly 58% of organizations still unsure about their 2024 salary budget changes, the compensation market remains highly volatile and is influenced by many economic factors and labour force pressure.
To learn more, complete the form to receive your download link to the executive summary.