1、SalaryBudget SurveyYour best resource for the 2023 budgeting season has arrived.Our Salary Budget Survey features insightful analysis sourced directly from compensation professionals broken out across key firmographic and geographic segments.Inform how you build out your compensation budget in celeb

2、rated detail,with planned salary increase budgets,salary structure adjustments,and promotion increases laid out for each type of employee.A compensation strategy built on data driven decisions will ensure you dont fall behind in securing and retaining talent in a volatile economy.With trusted data a

3、nd insights,Payscale is here to help you get pay right.202320242Compensation Trends and Insights on Pay Increase Budget PlanningIn the 2023-2024 budgeting season,HR and compensation professionals must determine their pay increase strategy for the coming year.Payscales 2023-2024 Salary Budget Survey

4、provides unparalleled insights on projected salary budget submissions from 1,757 organizations collected between April and June in 2023.Salary increase budgets are a particularly hot topic this year.Economic conditions in 2023 have been unpredictable,with dire predictions of an impending recession e

5、arly in the year mellowing by the middle.Interest rate hikes have cooled inflation,down to 3 percent in June,while layoffs have increased unemployment from 3.4 percent in January to 3.6 percent in June still a relatively tight labor market.Collectively,these conditions suggest that wage growth will

6、also cool.However,according to Payscale Index,wage growth was 6.1 percent for Q2 of 2023,and many workers are still anticipating higher pay increases in 2024 to supplement lost value from high inflation in the previous year.Last year,respondents planned on base salary increases of 3.8 percent on ave