We like the sound of that. Hay Group, a global management consulting firm, predicts salaries will be on the uptick around the world in the upcoming year.
Here’s the scoop — global pay should increase by 5.4 percent in 2015 which is higher than the 2014 increase of 5.2 percent. Take inflation into account though; in some regions the boost may not seem too significant. In reality, the Hay Group reveals an average income will grow by 1.4 percent. In North America the key number is an increase of .7 percent.
Since it’s indeed a global study, numbers take countries like Greece and Ireland into account as well as their economies. Recoveries may be increasing confidence in their business leaders.
European salaries are expected to grow by 3.1 percent, essentially a flat increase from this past year. Keeping a low inflation rate in mind at 1.5 percent, the real average wage growth in that continent is essentially 1.6 percent.
In Latin America, check this out — salaries are anticipated to catapult to an increase of 9.7 percent! Alas, inflation of 10.7 percent will actually result in a pay cut by one percent.