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Here's why you may get a smaller pay raise next year
  + stars: | 2024-07-24 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +3 min
The typical worker will get a 4.1% pay raise for 2025, down from 4.5% this year, according to a new poll by WTW, a consulting firm. Job market was 'unbelievably robust'Worker pay in 2021 and 2022 grew at its fastest pace in well over a decade amid an "unbelievably robust" job market, Wisper said. "I'm not sure I'll ever see that kind of job market in my lifetime again," Wisper said of 2021 and 2022. Still high relative to recent pastWhile the typical 4.1% projected raise is smaller than that during the last pay cycle, it's "still kind of high" relative to recent years, according to Wisper. For example, the median annual pay raise had largely hovered around 3% in the years after the 2008 financial crisis, she said.
Persons: WTW, Lori Wisper, Wisper, Julia Pollak, I'm, they're, Pollak Organizations: Hinterhaus, Stone, Companies, Workers, ZipRecruiter, Finance Locations: U.S
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