What Is The Average Salary Increase For 2024. The survey found employers are budgeting an average increase of 4% in 2024. Those numbers are down from mercer’s november 2023 projections of 3.5% and 3.8%, respectively.

Employers are planning for 3.5% pay raises on. South african employers are forecast to increase pay by an average of 6.1% in 2024 in an attempt to attract and retain staff amid high inflation and a challenging labour market.