Average Pay Award 2024.  — this year, departments are able to make average pay awards up to 4.5%. Median basic pay award in the three months to the end of may 2024 increased slightly to 4.6%, according to brightmine.

 — inflation has fallen to the bank of england’s 2% target, its lowest rate for nearly three years, as the median basic pay award in the three months to the end of may.  — even at the more tactical level, just budgeting for and determining your 2024 pay award is giving many employers a major headache at the moment.