Various research bodies have published pay data for the three months to the end of December 2024,...
Pay data: three months to December 2024
Various research bodies have published pay data for the three months to the end of December 2024, as well as an early look at 2025 trends.
- Incomes Data Research shows the median pay award across the whole economy at 3.7% for the three months to December (interquartile range: 3.0% to 4.0%). IDR also finds that most organisations are expecting salary rises to be lower in 2025, with increases to employers’ NICs likely to impact pay awards. More than two in five (43%) of pay awards are expected to be between 3% and 3.99%, while 37% anticipate it will be between 2% and 2.99%. Its analysis of already-decided pay outcomes for 2025 reveals a median of 3.5% across the whole economy.
- Brightmine recorded a median basic pay award of 3.3% across the whole economy for the three months to the end of December. Similarly to IDR, they also predict a decrease in 2025 pay awards compared to the median increase of 4.5% recorded in 2024. Its early analysis of January 2025 awards reveals a median basic pay award of 3.5%.
- Deals reported to LRD’s Payline averaged 4.0% across all agreements for the three months to December 2024. Deals in the private sector dipped to 3.3%.