South African companies are forecastng a 7% pay increase for staff in 2015, according to the ECA Salary Trends survey.<\/p>\n
ECA’s 2014\/2015 Salary Trends Survey reports current and projected salary increases for local employees, based on information collected from 340 multinational companies across 66 countries and regions.<\/p>\n
South Africa’s 7% increase is amongst the 20 highest recorded by the survey (19th highest); however, in real terms, taking inflation into account (currently at 5.9%), this only translates to a 1.2% increase\u00a0 – the 44th highest increase in the world, ECA noted.<\/p>\n
According to company predictions from around the globe, wages will rise 5.8% on average in 2015, slightly up on this year\u2019s 5.6% average.<\/p>\n
Companies in Argentina are forecasting the survey’s highest pay rises in 2015, with employers predicting a 28% pay rise for staff next year on average.<\/p>\n
“However, once inflation of over 27% has been factored in these large increases will have little impact on spending power,” the group noted.<\/p>\n
The lowest increases globally have been forecast by companies in the European locations of Greece, Ireland, Portugal, Spain and Switzerland. Pay increases of 2% in 2015 are expected there.<\/p>\n
However, wages will rise 3.5% in Europe on average.<\/p>\n
Salaries in Asia are expected to increase by 7.2% in 2015 with the largest uplifts being given in Pakistan and the lowest in Japan.<\/p>\n
Factoring in inflation, real wage rises in Asia will average 2.7% \u2013 higher than the other regions surveyed.<\/p>\n
In mainland China, companies are planning to award 8% salary increases again next year. Even after inflation, staff in China will be among the best off within the region and globally: they can expect to see increases of 5.5% in real terms.<\/p>\n
Employees in the Middle East are set to see wages rise 4.7% on average. In Australia, companies are forecasting 3.5% pay rises for their staff.<\/p>\n
South Africa\u2019s best and worst paying jobs<\/a><\/strong><\/p>\n Equal pay coming to SA in 75 years<\/a><\/strong><\/p>\n