The 2024 median pay increase budget in the UK stands at 4% but is forecasted to drop to 3.5% for 2025, suggesting a transformative shift in wage dynamics post-pandemic.
In the UK, financial services show the highest median pay budgets at 5%, driven by fierce competition for talent, while charity and media sectors lag at 2% and 2.8% respectively.
With the National Living Wage set to increase by 6.7% in April 2025, organizations must navigate salary budgets carefully to comply with new government mandates.
The report reveals critical insights into salary trends across various sectors, indicating that 2025 may see UK employees experiencing real wage growth for the first time since the pandemic.
#uk-inflation #salary-budgeting-2025 #pay-transparency #national-living-wage #sector-pay-differences
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