New York CNN —
Mostly large US corporations are projecting an average increase in their base pay budgets of 3.9% for next year, according to a new survey of 300 compensation leaders across 11 major industries from The Conference Board.
That is lower than the 4.4% average increase they paid out in 2023, which marked a 20-year high for base pay raises. But it is a tick up from the 3.8% bump that companies were paying out this year, according to The Conference Board.
Base pay budget increases are typically viewed as a proxy for
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