Global Salary Forecast 2019: Smaller real-wage increases ...

Global Salary Forecast 2019: Smaller real-wage increases predicted for most parts of the world.

REGIONAL AVERAGES

NORTH AMERICA

Salary Increase

2.8%

Real Salary Increase

0.6%

LATIN AMERICA

Salary Increase

4.6%

Real Salary Increase

1.3%

AFRICA

Salary Increase

7.7%

Real Salary Increase

0.9%

MIDDLE EAST

Salary Increase

3.6%

Real Salary Increase

0.4%

WESTERN EUROPE

Salary Increase

2.5%

Real Salary Increase

0.7%

EASTERN EUROPE

Salary Increase

6.6%

Real Salary Increase

2.0%

ASIA

Salary Increase

5.6%

Real Salary Increase

2.6%

PACIFIC

Salary Increase

2.5%

Real Salary Increase

0.3%

GLOBAL SALARY INCREASES

COSTA

ARGENBTOINLIBAVRIAAZCCIOLH5LI.OL5EM%4B.2IA5%R.0IC%5A.0%3.0%

VIETNAM

27.0%

THAILAND TAIWAN, CHINA

8.8% 5.5% 3.9%

SINGAPORE 4.0%

PHILIPPINES 5.8%

PAPUA NEW GUINEA 5.0%

MALAYSIA 5.0%

KOREA 4.5%

JAPAN 2.0%

INDONESIA INDIA

7.8% 10.0%

4.0%

HONG

KONG,

CHINA CHINA

6.0% 9.0%

ZAMUGBAIANTUDTNAAISNIZA6A.2N%I8A.0%6.1%

SOUTH

COSTA

ARGENBTOINLIBAVRIAAZCCIOLH2LI.OL3EM-%0B.1IA%1R.8IC%A2.1%-1.2%

VIETNAM

-8.3%

THAILAND TAIWAN, CHINA

4.8% 3.9% 2.4%

SINGAPORE 3.0%

PHILIPPINES 1.3%

PAPUA NEW GUINEA -1.2%

MALAYSIA 3.6%

KOREA 2.8%

JAPAN 0.1%

INDONESIA

3.7% 5.0%

INDIA

1.7%

HONG

KONG,

CHINA CHINA

3.2% -0.8%

ZAMUGBAIANTUDTNAAISNIZAA1.N1%I3A.0%1.3%

MAUMMROOIZRTIAOUMCSBCINOQAUMEI3NB.II7GA7E.%R8IA6FA%.R6I 1C%1.A0%6.5%

HOGNUDEAULTRESAAMLSAVLAEADCOUARR0DE.O8P%U2R.B9L%I1C.0%0.7% DOMINICAN

HOGNUDEAULTRESAAMLSAVLAEADCOUARR5DE.0OP%U4RB.5L%I2C.5%5.0% DOMINICAN

6.1%

KENYA

4.1%

1.5%

MEXICO

MEXICO

GHANA

6.6% 13.6%

1.1%

NICARAGUA

5.5%

NICARAGUA

6.6%

2.7%

PANAMA

PANAMA

EGYPT 15.0%

3.2%

1.5%

BOTSWANA 4.8%

PERU 1.3%

PERU 4.0%

AUSTRALIA 0.2%

AUSTRALIA 2.5%

ALGERIA 6.8%

NEW ZEALAND 2.5%

NEW ZEALAND 0.3%

3.9% UNITED ARAB EMIRATES

2.6% CANADA

0.6% CANADA

4.9% SAUDI ARABIA

3.0% USA

0.6% USA

3.3% QATAR

1.0% AUSTRIA

3.0% AUSTRIA

3.0% OMAN

0.8% BELGIUM

3.0% BELGIUM

1.4% 1.1%

CYPRUS

2.9% 2.4%

LEBANON

3.8% 3.0%

CYPRUS

KUWAIT

0.0%

DENMARK

1.8%

DENMARK

4.0%

JORDAN

0.5%

FINLAND

2.0%

FINLAND

3.0%

0.8%1.1%I0T.A8L1I.Y%R0E%LGARNEDGEECREFMRAANNYCE

2.2%2.5 I%2T.A0LI3Y.%R0EL%GARNEDGEECREFMRAANNYCE

BAHRAIN

8.0%

4.1% 4.1%S2E0R.B01SI4%AL.O0V%TAUKRIUAKKERUYAZIBNEEKISTAN

3.2%3.0L%3U.X0E%NMEBTOHNUEORRRGPLWOAANRYDTSUGAL

2.1%

SPAIN

2.42%.01.%52%.5%SWSWEUDNITEIZTNEERDLKAINNDGDOM 5.3% ARMENIA

8.0% AZERBAIJAN

8.1% BELARUS

4.4% BULGARIA

2.9% CROATIA

4.7% CZECH REPUBLIC

4.1% ESTONIA

5.8% 5.3%

GEORGIA

8.4%

HUNGARY

4.9% 5.0%

LAKTAVZIAAKHSTAN

5.8%5.1%R4U.0SS%RIOANMPAONLILAAITNHDUANIA FEDERATION

REAL SALARY INCREASES

1.3% 0.5L%0U.X9E%NMEBTOHNUEORRRGPLWOAANRYDTSUGAL

0.3%

SPAIN

0.60%.01%.02%.6%SWSWEUDNITEIZTNEERDLKAINNDGDOM

2.1% ARMENIA

3.9% AZERBAIJAN

2.8% BELARUS

1.2% BULGARIA

1.4% CROATIA

2.6% CZECH REPUBLIC

0.8% ESTONIA

2.5% 2.0%

GEORGIA

1.8%

HUNGARY

2.2% 2.0%

LAKTAVZIAAKHSTAN

1.3%1.6%R2U.0S%SRIOANMPAONLILAAITNHDUANIA FEDERATION

ALGERIA 0.4%

BOTSWANA 0.8%

EGYPT 0.6%

0.4% 3.6%

-0.5%

MAUMMROOIZRTIAOUMCSBCINOQAUMEI2N.BII4GA1E.%R7IA1FA%.R2I-C%2.A6% 1.0%

SOUTH

1.4% 1.8%S5E.R5B%5SIA.L9O%VTAUKRIUAKKERUYAZIBNEEKISTAN

-4.5%

-0.8%

0.3%

2.2% -1.7%

GHANA

KENYA

BAHRAIN

JORDAN

KUWAIT

LEBANON

0.0% OMAN

-0.5% QATAR

2.6% SAUDI ARABIA

0.7% UNITED ARAB EMIRATES

The Korn Ferry 2019 Global Salary Forecast reveals that, adjusted for inflation, real-wage salaries globally are expected to grow only an average of 1 percent in 2019.

Regionally, Asia is expected to see the highest real wage growth, with salaries forecast to increase by 2.6 percent, while in North America, both the United States and Canada are predicted to achieve a real-wage growth of 0.6 percent. Employees in Eastern Europe are predicted to see an average salary increase of 2 percent after accounting for inflation, and in Western Europe, salaries are forecast to increase by only 0.7 percent.

In the Middle-East, inflation-adjusted salary increases are predicted to be 0.4 percent, while Africa's salary forecast is expected to go up by 0.9, after adjusting for high inflation. In Latin America, employees are forecast to receive an average real salary increase of 1.3 percent. The Pacific sees the lowest prediction in real salary increases, with an inflation-adjusted forecast of only 0.3 percent.

? Korn Ferry 2019 All rights reserved.

Korn Ferry pay experts recommend taking a holistic approach when determining pay.

"While inflation indices are a solid benchmark for reviewing market trends in pay, we recommend that companies take a broader perspective by defining and agreeing upon their own measures of cost drivers, business strategy and local trading conditions," said Benjamin Frost, Korn Ferry's Global General Manager ? Pay. "Compensation programs need to be regularly reviewed to make sure they align with changing business and market conditions."

About the Study

The data was drawn from Korn Ferry's pay database which contains data for more than 20 million job holders in 25,000 organizations across more than 110 countries.

It shows predicted salary increases, as forecasted by global HR departments, for 2019 and compares them to predictions made at this time last year regarding 2018. It also compares them to 2019 inflation forecasts from the Economist Intelligence Unit.

Visit the interactive website to get your personalized salary forecast here.

Editor's Note: Global and regional averages exclude Argentina due to particularly high inflation. Figures correct at the time of data collection.

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