President Joe Biden has finalized an average 5.2 percent pay raise for federal workers in fiscal year 2024—the largest increase in more than four decades.
Initially proposed as part of the president’s 2024 budget plan, the pay increase includes a 4.7 percent across-the-board hike in basic pay for more than 2 million federal employees, with the rest based on comparable private-sector salaries in workers’ localities.
