Wage increase global salary forecast 2017

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%