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Kfhg 2017 global_salary_forecast.pdf
- 1. Wage increases slow globally: Real wages up 2.3%, as pay rises combine with low inflation. 3.3% 3.0% 8.6% 4.0% 4.3% 3.0% 4.3% 7.0% 4.1% 2.6% 11.3% 28.5% 8.8% 4.9% 6.8% 5.0% 5.5% 5.0% 5.0% 6.0% 4.6% 5.8% 4.0% 5.0% 110.9% 5.0% 5.5% 4.1% 5.1% 3.0% 5.0% 5.0% 3.0% 2.5% 3.0% 3.0% 2.5% 6.1% 4.2% 10.0 % 8.6% 2.0% 5.0% 5.8% 6.0% 4.0% 5.8% 10.0% 2.0% 2.8% 2.0% 2.1% 1.0% 1.8% 2.5% 2.0% 2.0% 2.6% 2.8% 2.5% 2.0% 2.0% 1.9% 2.3% 1.5% 2.5% 4.0% 2.8% 3.4% 8.9% 5.4% 9.8% 3.5% 7.0% 7.3% 5.6% 22..55%% 33..00%% Estonia Hungary Kazakhstan Latvia Lithuania Poland Romania Russian Federation Serbia Slovakia Ukraine Argentina Brazil Chile Colombia Costa Rica Dominican Republic Ecuador Guatemala Honduras Mexico Nicaragua Panama Peru Venezuela Bahrain Jordan Kuw ait Lebanon Oman Qatar SaudiArabia UnitedArabEmirates Canada UnitedStatesofAmerica Australia NewZealand China Hong Kong India Indonesia Japan Korea Malaysia Philippines Singapore Thailand Vietnam Austria Belgium Cyprus Denmark Finland France Germany Greece Ireland Italy Luxem bourg N etherlands Norway Portugal Spain Sweden Switzerland UnitedKingdom Bulgaria CzechRepublic El Salvador Turkey Botswana Egypt Morocco SouthAfrica Tunisia Algeria CCaannaaddaa UUnniitteeddSSttaatteessooffAAmmeerriiccaa -10 10 00000000000000 Global Salary Increases (2017) Find out how Korn Ferry Hay Group can help you make better pay decisions in 2017. Visit: engage.kornferry.com/global-pay-hub-infographic About the study: The data was drawn from Korn Ferry Hay Group PayNet, which contains data for more than 20 million jobholders in 25,000 organizations across more than 110 countries. This infographic shows predicted salary increases, as forecasted by global HR departments, for 2017 and compares them to 2016 inflation data from the Economist Intelligence Unit. Average real wages increases are based on 76 countries in Korn Ferry Hay Group’s database. *Global real wage averages exclude Venezuela, Argentina, Russia and Ukraine and Latin America’s regional averages exclude Venezuela. © Korn Ferry Hay Group 2016. All right reserved. Wage increases slow globally: Real wages up 2.3%, as pay rises combine with low inflation. This year’s forecast reveals that, adjusted for inflation, workers around the world are expected to see average real wage increases of 2.3%*. This is down slightly from last year’s prediction of 2.7%*. In Asia, salaries are forecast to increase by 6.1% with real salaries expected to rise by 4.3% - the highest of any region globally. However, in China, real wage increases are 2.5% lower than last year – down to 4.0%. Workers in the Middle East (with average real increases of 2.5%) and Eastern Europe (2.1%) are expected to enjoy higher real wage increases than their counterparts in Western Europe (1.7%) and North America (1.4%), as slower growth in mature markets keeps a lid on pay increases. Latin America (average real increases of 1.1%) and Africa (0.7%) see the lowest predicted increases, as almost all of the headline pay increases are eaten away by high inflation. 3.1% 2.9% -5.8% 4.4% 3.8% 3.8% 5.7% -0.1% 3.0% 3.0 % -1.9% -12.5% 0.4% 1.0% -0.8% 4.6% 3.9% 3.3% 0.6% 3.1% 1.9% 2.0% 3.2% 1.6% -373.9% 1.8% 6.3% 0.8% 6.1% 1.8% 2.1% 0.8% 0.5% 0.9% 1.9% 1.6% 1.9% 4.0% 1.5% 4.8% 4.9% 2.1% 4.1% 3.9% 4.3% 4.7% 5.6% 7.2% 1.1% 1.0% 3.1% 1.7% 0.6% 1.5% 2.2% 2.1% 2.0% 2.6% 2.9% 2.3% -1.5% 1.3% 2.3% 1.5% 1.8% 1.9% 4.7% 2.2% 2.7% 1.2% 2.0% -3.0% 1.8% 0.5% 3.8% -1.1% 00..99%% 11..99%% Argentina Brazil Chile Colombia Costa Rica Dominican Republic Ecuador Guatemala Honduras Mexico Nicaragua Panama Peru Venezuela Bahrain Jordan Kuw ait Lebanon Oman Qatar SaudiArabia UnitedArabEmirates Canada UnitedStatesofAmerica NewZealand China Hong Kong India Indonesia Japan Korea Malaysia Philippines Singapore Thailand Vietnam El Salvador Botswana Egypt Morocco SouthAfrica Tunisia Algeria CCaannaaddaa UUnniitteeddSSttaatteessooffAAmmeerriiccaa Estonia Hungary Kazakhstan Latvia Lithuania Poland Serbia Slovakia Austria Belgium Cyprus Denmark Finland France Germany Greece Ireland Italy Luxem bourg N etherlands Norway Portugal Spain Sweden Switzerland UnitedKingdom Bulgaria CzechRepublic Romania Russian Federation Ukraine Turkey Australia 000000 -10 10 00000000 Real Salary Increases (2017) Asia Regional Averages Salary Increase 6.1% Real Salary Increase 4.3% Middle East Regional Averages Salary Increase 4.5% Real Salary Increase 2.5% Latin America Regional Averages* Salary Increase 7.0% Real Salary Increase 1.1% East Europe Regional Averages Salary Increase 5.1% Real Salary Increase 2.1% North America Regional Averages Salary Increase 2.8% Real Salary Increase 1.4% Africa Regional Averages Salary Increase 6.4% Real Salary Increase 0.7% West Europe Regional Averages Salary Increase 2.1% Real Salary Increase 1.7% Pacific Regional Averages Salary Increase 2.8% Real Salary Increase 1.8% North America Regional Averages Salary Increase 2.8% Real Salary Increase 1.4%