Russia and Asian countries dominate the latest ranking that shows the places in the world where people are expected to receive the biggest real-pay increases in 2018. (Real pay is the difference between the forecast nominal salary increase and inflation.)
According to the latest Salary Trends Report by multi-national software and data firm ECA International (ECA), Asia-Pacific countries dominate the top 10 spots in the global rankings with above-inflation salary increases. India, which ranks second globally behind Argentina with a projected 7.2% rise in real salary, is expected to give workers a 4.9% real-pay increase next year. And despite a slowdown in economic growth, China is still forecasted to rank seventh in the global table.
The ECA said that as Russia’s economy stabilizes and inflation falls, it is projected to have a 3.1% bump in real salary in 2018. By comparison, the average increase in pay across Europe is a rise of 1%.
Meanwhile, employees in the UK should expect to get one of the lowest wage rises in the world. Employees are expected to see a real-salary increase of just 0.2% next year, making it 61st in the global rankings. Only staff from Hungary, Poland, and Ukraine rank lower than Britain in the European table.
The US comes in at 49th with a 0.9% real-salary increase forecast.