Merit Increase Benchmarks for Media & Broadband Companies C2HR research reveals that media industry employers are continuing their multiyear trend of increasing salaries for all worker segments. 2024 merit increases, which are part of company salary adjustment budgets, averaged 3.3% for broadband connectivity employers (somewhat less than last year’s 3.8%). Among content creators, 2024 merit increases for employees averaged 3.2%, also less than last year (3.3%) as shown in the graph below. The same research projects that salary increases in 2025 will remain steady:  3.4% for connectivity companies and 3.0% for content creators. These increases slightly lag general industry salary raises of 4% for both 2024 and 2025 (projected) (See figure).  “We believe that both the lower consumer price index as well as headwinds in the industry are promoting more conservative spending, which is contributing to lower projected salary budgets,” said Hali Croner, President and CEO of The Croner Company, which collected the data for C2HR. “Companies are balancing keeping costs reasonable while ensuring employees can receive competitive and motivating increases.” Salary Structure Adjustments In addition to merit increases, research also reveals changes to company salary structures. Adjustments to salary structures are not based on performance, rather they apply across the defined salary ranges for each position. Content creators delivered the most significant salary structure adjustments. On average, in 2024 they raised executive salaries by 3.4%; exempt employees (generally midlevel managers and other salaried employees) by 3.3%; and nonexempt employees (hourly) by 3.3%. Among connectivity providers, in 2024 respondents raised exempt employees by 2.8%; and hourly employees by 2.8%. Smaller Budgets Prevail As the economy stabilizes and the external labor market experiences fewer job openings, salary budgets are expected to continue to stabilize – and not just in the content and connectivity industries. “Across all the sectors we survey, we see either the same or slightly lower salary budgets, reflecting less inflationary pressure as well as caution on the part of employers about cost savings,” Croner noted. The Croner Company collected the data for C2HR in two interim Salary Budget Surveys that it provides complimentary to participants in the C2HR Annual Compensation Surveys. For additional information or to participate in C2HR’s Compensation Surveys, please contact Laurie Krashanoff, via this form, or call her at 415.485.5521   SHARE THIS ARTICLE