Ezra Bailey | The Image Bank | Getty Images Workers are poised to get smaller raises in 2024 — and their annual pay bumps are unlikely to increase again anytime soon amid a cooler job market , labor experts said. U.S. companies plan to give salary increases of 4%, on average, this year, down from 4.4% in 2023, according to a survey by Willis Towers Watson. Similarly, a Mercer poll indicates companies' total salary budgets, which include money for all pay increases, such as raises and promotions, will be 3.8% in 2024, on average. That's down from the 4.1% paid out last year. More from Personal Finance: States step in to fill the 401…
