Average Pay Increases in US Decreasing Slightly

A study by Salary.com found that in 2024, median increases remained about the same as in 2023 at 4%, but the average increase decreased a bit from 4.3% to 3.9%. The number of raises given remained roughly steady, but the number of higher raises (5% to 6%) decreased year-over-year. That trend is expected to continue in 2025.