Every second company plans to raise wages next year, but to a lesser extent than this year

By: Trademagazin Date: 2024. 10. 11. 11:52

The majority of employers are optimistic about next year, they expect economic stabilization, and in terms of the number of employees in the company, more are counting on expansion than on reduction. Every second company is planning a wage increase, and every fifth company would increase the cafeteria budget next year, the September survey of Profession.hu points out.

Based on the responses of nearly 500 companies, Profession.hu prepared its latest survey, in which employers’ expectations for next year, wage development and recruitment plans were examined.

Over the past nine months, the employers’ optimistic forecast for 2024 at the beginning of the year seems to have been confirmed, as this year too, more workplaces saw wage increases (74%) than were previously planned (53%). However, the rate of salary increases was lower than before: in the end, several companies that previously calculated a higher amount kept it between 5-9%. The average increase was thus realized at 11% instead of the 11.7% plan measured at the beginning of the year.

Every second employer expects a wage increase next year

As the end of the year approaches, companies are already well on their way to preparing for 2025, and their planning is once again characterized by caution, but even so, every second respondent (53%) said that they will raise salaries next year, but it is lower compared to what was planned for this year, on average 9 They are thinking about a 5% increase. In the last three years, a trend can be observed that, compared to preliminary forecasts, more companies eventually improve wages.

“Taking into account the wage increase plans of the employers and the inflation forecasts between 2.5% and 3.5% expected for 2025, a significant part of the employees can count on an increase in real wages next year”

– explained Imre Tüzes, Business Development Director of Profession.hu.