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Australian employers raised median base salaries by 4% for existing employees in 2023, and in 2024 they're expecting to do the same, major remuneration research shows.

Among the 1,216 organisations surveyed for Mercer's 2023 Total Remuneration Survey (TRS), salary increase budgets rose to 4%; this was one percentage point higher than projected in the previous year's research.

However, these salary increases were not spread evenly across the board, with one in four employees receiving a raise of more than 7%.

Those "generous" increases are likely the outcome of deliberate retention strategies, says Mercer workforce solutions leader for the Pacific region, Cynthia Cottrell...