HR Hub

Various research bodies have published pay data for the three months to the end of July 2024.

• Incomes Data Research shows the median pay award at 4.0% for the three months to July (interquartile range: 4.0% to 4.6%).
• Brightmine recorded a median basic pay award of 4.5% across the whole economy for the three months to the end of July (based on 48 settlements covering nearly three-quarters of a million employees). The interquartile range has narrowed to 1.3 percentage points, the most common basic award is worth 5% and the median of all basic plus merit deals is 5.0%.
• According to the Labour Research Department, there has been a slight uptick in the median pay rise for the lowest paid during the three months to July, this was 5.6% with workers on all other grades getting 5.0%.
• The CIPD’s summer 2024 Labour Market Outlook shows that the median expected basic pay increase has fallen to 3% (from 4% last quarter). Expected pay awards in the next 12 months remain lower in the public sector (2.5%) compared with the private sector (3.0%).