A forecast issued today by the Hay Group division of Korn Ferry (NYSE: KFY) reveals that, adjusted for inflation, workers around the world are expected to see real wage increases of 2.3 percent, down slightly from last year’s prediction of 2.7 percent.
The data was drawn from Hay Group PayNet 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 2017 and compares them to predictions made at this time last year regarding 2016. It also compares them to 2016 inflation data from the Economist Intelligence Unit. When compiling global and regional averages, researchers left out countries with dramatically higher inflation rates or currency devaluation (Venezuela, Argentina, Russia and Ukraine).