It may not be the year of the big pay bump, but modest raises are part of many companies' plans in 2024. A recent survey of about 1,800 employers by consulting firm Willis Towers Watson suggests an average salary increase of 4 percent, down from the 4.4 percent average raise in 2023, but better than the prepandemic era's average 3 percent hike.

The Wall Street Journal reported on the survey, which cited a slightly slowing job market and tapering inflation as factors moderating the average increase. There's a mix of trends at work, where white-collar, professional hiring is slowing, but other employers say they have to raise wages to hang on to workers. READ MORE