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11/10/2016
UK employers are forecasting 3% pay rises for staff in 2016, according to the latest salary trends survey by ECA International. Global pay rises are set to average 6.1%, slightly up on this year’s 5% average. ‘Real’ pay rises, taking account of local inflation, are predicted to average 1.7% globally, around the same as in 2015.
Not surprisingly, the lowest forecast average pay rise is expected in Greece, with employers here anticipating a 1.5% rise in average pay, compared with the 2.8% average for Europe as a whole. Companies in mainland China plan to award pay rises of 8% and, even after taking account of inflation, employees here can expect to see increases of 6.2% in real terms. Employers based in the US and Canada predict 3% pay rises on average, the same as in 2015. Vietnam tops the league table for the highest predicted real salary increase next year (i.e. after taking account of inflation), with an average 7% forecast for 2016.