{"id":7558,"date":"2024-07-24T08:00:00","date_gmt":"2024-07-24T08:00:00","guid":{"rendered":"https:\/\/www.brightmine.com\/uk\/?post_type=resources&#038;p=7558"},"modified":"2026-07-27T13:20:30","modified_gmt":"2026-07-27T13:20:30","slug":"pay-trends-july-2024","status":"publish","type":"resources","link":"https:\/\/www.brightmine.com\/uk\/resources\/total-rewards\/pay-trends\/pay-trends-july-2024\/","title":{"rendered":"Pay Trends July 2024: National Living Wage changes keep pay awards at 4.9%"},"content":{"rendered":"\n<div class=\"wp-block-group alignwide has-primary-white-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-b5fc8583 wp-block-group-is-layout-constrained\" style=\"border-radius:25px;padding-top:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30)\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-7fc3d43a wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:70%\">\n<p class=\"\">by <strong>Brightmine<\/strong><\/p>\n\n\n\n<p class=\"\">The latest data from Brightmine (formerly XpertHR), HR data and insights provider, shows the median basic pay award in the three months to the end of June 2024 was 4.9%, unchanged from the previous rolling quarter\u2019s revised figure.<\/p>\n\n\n\n<p class=\"\">With the Bank of England reaching their 2% inflation target in May \u2013 a significant drop from the 11.1% peak in October 2022 \u2013 pay awards are expected to continue to adjust accordingly, with Brightmine predicting a decrease in pay settlement levels in 2025.<\/p>\n\n\n\n<p class=\"\">After two years of relatively high national minimum wage increases, Brightmine previously anticipated more modest rises in April 2025. However, with the new Labour government proposing changing the Low Pay Commission&#8217;s remit to consider the cost of living alongside median wages and economic conditions, plus the removal of age-based minimum wage rates for adults, employers could face higher costs and may have to make significant changes to pay rates for some employees.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote has-text-align-left has-medium-font-size\" style=\"border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-left-radius:0px;border-bottom-right-radius:0px;border-left-color:#00728B;border-left-width:5px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:15px;font-style:normal;font-weight:500\"><blockquote><p>\u201cOur headline measures indicate broad stability of pay awards and we can expect this pattern to persist throughout the year. Settlements are more tightly bunched compared to this time last year, with fewer exceptionally high pay awards being observed. As we continue to see inflation levels stabilise, we foresee a more consistent and predictable approach to employee compensation moving forward.<br><br>\u201cThe Government typically announces uplifts to the national minimum wage rates in November each year. Organisations with employees paid these rates can start to model what the proposed changes would mean in terms of their pay budgets, particularly if the removal of the age-based adult rates is confirmed.\u201d<\/p><cite>Sheila Attwood, Brightmine senior content manager, data and HR insights, Brightmine<\/cite><\/blockquote><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Latest rolling quarter findings<\/h2>\n\n\n\n<p class=\"\">Based on 145 pay settlements that came into effect in the three months between 1 April and 30 June 2024, covering 370,339 employees, Brightmine found:<\/p>\n\n\n\n<ul class=\"wp-block-list is-style-brightmine-list-item-spacing-large\">\n<li class=\"\"><strong>Median basic award remains below 5%.<\/strong> For the three months to the end of June, the median basic settlement stands at 4.9%, unchanged from the previous quarter. About 16.3% of basic deals exceed 7%, mainly for employees on the national living wage, who saw a 9.8% pay rise in April 2024. Excluding these, the median settlement is 4.3%.<\/li>\n\n\n\n<li class=\"\"><strong>Most common basic award is worth 4%.<\/strong> Around half (47.3%) of all settlements that came into effect in the latest rolling quarter are worth between 4% and 5%, with 4% being slightly more common.<\/li>\n\n\n\n<li class=\"\"><strong>Many employees see pay awards worth less than 2023 settlement.<\/strong> Around three-fifths (61%) of pay deals in a matched sample analysis are worth less than the award provided to the same employees in 2023.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Pay review pattern &#8211; whole economy, June 2023 to June 2024<\/h2>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"634\" height=\"433\" src=\"https:\/\/cdn.brightmine.com\/wp-content\/uploads\/sites\/2\/2024\/07\/23110353\/brightmine-pay-trends-july-2024.webp\" alt=\"Brightmine pay trends July 2024\" class=\"wp-image-7624\" srcset=\"https:\/\/cdn.brightmine.com\/wp-content\/uploads\/sites\/2\/2024\/07\/23110353\/brightmine-pay-trends-july-2024.webp 634w, https:\/\/cdn.brightmine.com\/wp-content\/uploads\/sites\/2\/2024\/07\/23110353\/brightmine-pay-trends-july-2024-300x205.webp 300w\" sizes=\"auto, (max-width: 634px) 100vw, 634px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column lnrs-hide-block-on-mobile is-layout-flow wp-block-column-is-layout-flow\" style=\"border-left-color:var(--wp--preset--color--secondary-gray);border-left-width:2px;padding-left:10px;flex-basis:30%\">\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained wp-container-1 is-position-sticky\">\n<div class=\"wp-block-group has-bleach-white-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-a36fa716 wp-block-group-is-layout-constrained\" 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UK pay awards remain steady at 3.2% as employers &#8230;<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-container-core-group-is-layout-5fb0786f wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group has-primary-white-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-fcdab8bb wp-block-group-is-layout-constrained\" style=\"border-radius:25px;margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);padding-top:var(--wp--preset--spacing--40);padding-right:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--40);padding-left:var(--wp--preset--spacing--30)\">\n<div class=\"wp-block-group has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading\" id=\"h-topics-on-this-page\" style=\"font-style:normal;font-weight:500\">Topics on this page<\/h3>\n\n\n\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-6c531013 wp-block-group-is-layout-flex\">\n\n<div class=\"taxonomy-topic has-link-color wp-elements-5ec59eb01c09ec2f1d84a6b36973ff83 wp-block-post-terms\"><a href=\"https:\/\/www.brightmine.com\/uk\/resources\/total-rewards\/benchmarking\/\" rel=\"tag\">Benchmarking<\/a><span class=\"wp-block-post-terms__separator\">, <\/span><a href=\"https:\/\/www.brightmine.com\/uk\/resources\/hr-compliance\/pay-and-benefits-compliance\/minimum-wage\/\" rel=\"tag\">Minimum wage<\/a><span class=\"wp-block-post-terms__separator\">, <\/span><a href=\"https:\/\/www.brightmine.com\/uk\/resources\/total-rewards\/pay-trends\/\" rel=\"tag\">Pay trends<\/a><\/div><\/div>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cararra-gray-color has-alpha-channel-opacity has-cararra-gray-background-color has-background is-style-wide\"\/>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-about-the-author\" style=\"font-style:normal;font-weight:500\">About the author<\/h3>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-658170e2 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100px\">\n<figure class=\"wp-block-image size-full is-resized has-custom-border is-style-rounded\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" height=\"128\" src=\"https:\/\/cdn.brightmine.com\/wp-content\/uploads\/sites\/2\/2024\/03\/12085308\/Brightmine_Favicon_128px.png\" alt=\"\" class=\"wp-image-313\" style=\"border-radius:25px;object-fit:cover;width:100px;height:100px\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"\"><strong>Brightmine<\/strong><\/p>\n\n\n\n<p class=\"\">With more than 10,000 customers, Brightmine is a leading global provider of people data, analytics and insight \u2013 empowering HR leaders to deliver brighter business outcomes.<\/p>\n\n\n\n<p class=\"\">For more than two decades, Brightmine, formerly XpertHR, has continued to help HR leaders confidently navigate the evolving world of work through our unique combination of critical workforce data, AI-enabled technology and trusted HR expertise.<\/p>\n\n\n\n<p class=\"\">Brightmine is a division of LexisNexis Data Services within RELX\u00ae, a global provider of information-based analytics and decision tools. RELX serves customers in 180+ countries with 35,000+ employees. Ticker: London: REL; Amsterdam: REN; New York: RELX.<\/p>\n\n\n\n<p class=\"has-primary-black-color has-text-color has-link-color wp-elements-ad14550bb07010b79fc22eb0ca4e129e\">Follow Brightmine on <a href=\"https:\/\/www.linkedin.com\/company\/brightmine\/\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The latest Brightmine data reveals deals collected in a matched sample analysis are worth less than that awarded to the same employees a year ago<\/p>\n","protected":false},"author":11,"featured_media":11375,"comment_status":"closed","ping_status":"closed","template":"wp-custom-template-new-resources","categories":[17],"tags":[],"topic":[26,78,43],"class_list":["post-7558","resources","type-resources","status-publish","has-post-thumbnail","hentry","category-press-releases","topic-benchmarking","topic-minimum-wage","topic-pay-trends"],"yoast_head":"<!-- This site is optimized with the 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