Average Salary Increase For 2024. Average salary increases in small to medium enterprises (smes) will remain higher at 5 per cent compared with private sector organisations, the cipd adds. Payscale placed average increases in 2023 at 4.8%.

And though increases are expected to be down in 2024, they look to remain high, according to data from wtw’s december 2023 salary budget planning report. Understand what an appropriate salary raise for 2024 looks like.