Korn Ferry Hay Group
2017 Salary Forecast: Wage Increases Slow Globally- Eastern Europe
Faring Better than Western Europe
According to the Korn Ferry Hay Group forecast, workers in
Eastern Europe are set to see an average salary increase of 5.1
percent in 2017, and with inflation at 3 percent, will see real
wages rise by 2.1 percent. With inflation much lower in Western
Europe, workers there will see lower wage increases, with an
average increase of 2.1 percent - with an average inflation rate of
.4 percent, the real increase is 1.7 percent.
Despite the turmoil following the Brexit decision, the
United Kingdom is faring fairly well, with predicted raises staying
at 2.5 percent (the same as the last three years). Adjusted for
inflation, real wages are to increase by 1.9 percent in 2017, which
is slightly higher than the Western European average. Workers in
France and Germany are forecast to see real wage rises of 1.5
percent and 2.2 percent respectively.
"Although not as high as last year when we saw a
three-year high, there are still positive real wage gains across
the globe," said Benjamin Frost, Korn Ferry Hay Group Global
Manager - Pay. "In addition to predicted salary increases,
inflation is relatively low in most countries, which has a positive
impact on real wages."