Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Economics, government & businessLatest NewsPay & benefitsPay settlementsPay structures

Worldwide salary growth expected to exceed 5% in 2007

by Georgina Fuller 14 Sep 2006
by Georgina Fuller 14 Sep 2006

Salaries across the globe are expected to rise by an average of 5.9% next year, 1.9% above the inflation rate, according to research.

UK pay is projected to increase by an average of 3.6% with inflation rates at 1.9%, the survey of 60 countries by Mercer HR consulting showed.

The average pay increase in nearly two-thirds (63%) of the countries surveyed was predicted to be between 1% and 3.5% above inflation.

The highest salary rises are expected in Venezuela, with an average of 17.4%. Germany registered the lowest potential pay rise at just 2.3%.

Greece was found to have the highest increase in Western Europe at 5%, followed closely by Ireland at 4.5%.

Steve Gross, a global partner at Mercer, said: “Pay increases tend to vary significantly around the world, depending on country-specific factors such as inflation, economic growth and unemployment. Global companies need to be especially aware of these key economic and labour market differences when setting compensation budgets and deciding how to allocate resources to generate the greatest return on their investment.”

Pay levels in Eastern Europe are also expected to increase dramatically in the next year. Latvia is predicted to see an average rise of 11.1% while workers in Lithuania can expect a 7.3% increase.

“Demand for low-cost, well-educated employees is increasing in Eastern Europe. In particular, the need for skilled workers with marketing, engineering and IT expertise continues to drive up salaries,” said Gross.

Avatar
Georgina Fuller

previous post
TUC calls for minimum of 28 days’ paid holiday
next post
Drop in sickness absence at Welsh Assembly equates to £1.1m saving

You may also like

Sue Gray findings: Party culture during lockdowns approved...

25 May 2022

Employers lack data to make IR35 worker status...

25 May 2022

Biggest national rail strike threatens summer

25 May 2022

Six in 10 women of colour ‘hide identity’...

25 May 2022

Maternity leave: Cost of living crisis highlights need...

25 May 2022

Civil servants move closer to national strike action

25 May 2022

Top 10 metrics HR leaders are using today...

25 May 2022

Employees resigning in 2022: Survey shows ‘great resignation’...

24 May 2022

Tube strike on 6 June to see 4,000...

24 May 2022

Navigating the widening “Skills Confidence Gap” in 2022,...

24 May 2022
  • The Search for Talent: Six Major Employer Pitfalls PROMOTED | The Great Resignation continues unabated...Read more
  • Navigating the widening “Skills Confidence Gap” in 2022, and beyond PROMOTED | Cornerstone OnDemand conducted a global study...Read more
  • Apprenticeships are the solution to your recruitment problems PROMOTED | Apprenticeships have the pulling power...Read more
  • What it really means to be mentally fit PROMOTED | What is mental fitness...Read more
  • How music can help to ease anxiety at work PROMOTED | A lot has happened since March 2020, hasn’t it?...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+