Average Pay In 2024. The average 5.2 percent raise is the highest since an average 9.1 percent raise in 1980 under president carter. According to the us bureau of labor statistics (bls), american workers made a median wage of $1,139 per week in the first quarter of 2024, which would add up to $59,228.
Organizations are predicting an average base pay increase of 4.5% in 2024, according to payscale’s 2024 compensation best practices report. Last march, biden first announced the pay raise plan as part of his fiscal 2025 budget proposal, marking a significant decrease from previous pay raises of 5.2% in 2024 and 4.7%.