Salary forecast

As the labour market continues to balance out and inflationary pressures ease, salary increase budgets are continuing to trend towards pre-pandemic market norms. Tracking budgetary changes, anticipating potential market changes and managing compensation spend continue to be key priorities for organizations. 

Average salary increase forecasts in Canada have gradually lowered over the past two years, with an average forecasted increase of 3.4% for 2025 excluding salary freezes.

As the labour market continues to balance out and inflationary pressures start to ease, salary increase budgets are continuing to trend towards pre-pandemic market norms.

The data collection period has begun! It’s free, will only take 15 minutes of your time: you have until July 5th to participate.

Have questions about salary increases and would like to take part in the survey, free of charge? 

In late 2023, more than 430 organizations across Canada took part in Normandin Beaudry’s Salary Increase Pulse Survey.

As inflationary pressure slowly tapers off and the labour market begins to balance out, the survey sought to confirm the 2024 salary forecasts established by the organizations last summer.