If you're unhappy with your current salary, there just might be a healthy raise coming your way next year.

Telus Health's annual Salary Projection Survey is forecasting a 3.45 per cent increase in average base salaries for non-unionized employees in Canada in 2025.

This significantly exceeds Canada's current inflation rate of 2 per cent, as reported by the Bank of Canada earlier this month.

"The persistent demand for skilled talent is driving robust salary growth into 2025, despite easing inflationary pressures on employers," said Guylaine Béliveau, national practice leader of compensation consulting at Telus Health, in a statement.

"As inflation rates decline, employees stand to reclaim purchasing power lost in recent years. This shift could significantly boost individual financial well-being and overall workplace morale."

According to Telus Health, the forecast, excluding salary freezes, is driven by labour shortages.

The findings are based on data from over 355 Canadian organizations across various industries.

Salary projections by province

The survey found that British Columbia will lead in raises next year, with a projected 3.6 per cent increase in the highest average base salaries, followed by Alberta at 3.54 per cent.

Ontario and Quebec are slightly behind at 3.43 per cent and 3.41 per cent, respectively.

Nova Scotia consistently shows the lowest forecasted increases among provinces, with statistically significant data at 2.94 per cent for both 2024 and 2025.

Telus Health

Salary projections by industry

When it comes to raises by industry, the survey found that the highest forecasted increases for 2025 are expected in construction (4.13 per cent), real estate (3.92 per cent) and business services (3.90 per cent).

On the other hand, if you work in industries like public administration (2.75 per cent), health care (2.92 per cent) and education (2.93 per cent), you're expected to get the lowest salary increases next year.

Telus Health

Developing future leadership

The report also highlights Canadian employers' top priorities for 2025, which include worker engagement and building critical skills for leaders.

It adds that there's an increasing focus on upskilling, training, and development programs and cultivating current and future leadership.

In response to the cost-of-living crisis, the survey found that 59 per cent of organizations have implemented or plan to implement programs to enhance financial well-being.

"These initiatives include healthcare spending accounts (24 per cent of organizations), financial literacy education (20 per cent) and group RRSPs (18 per cent)," it reads.