Canadian employers are expected to lower their overall salary increase budgets in 2025, according to the 14th annual Salary Increase Survey conducted by Normandin Beaudry.
The survey, which gathered data from more than 750 organizations across the country, revealed that average salary increases are projected to be 3.4 per cent, down slightly from 2024’s 3.6 per cent.
“While economic pressures and the competition for talent remain challenging, we’re beginning to see a gradual return to pre-pandemic market norms as salary increase budgets reduce for a second year in a row,” said Darcy Clark, senior principal of compensation at Normandin Beaudry.
