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Companies in South Africa are forecasting 7 per cent pay rises for staff in 2015 – the same as this year, according to the latest Salary Trends survey by ECA International, the world's leading provider of knowledge, information and technology for the management and assignment of employees around the world. These increases are among the top 20 highest in the survey.


However, once inflation is taken into account salaries will rise only

1.2 percent on average next year. Nevertheless, with inflation expected to be slightly lower next year wages will increase more in real terms in 2015 than they did this year when they rose just 0.7 per cent above inflation.
 
ECA's 2014/2015 Salary Trends Survey reports current and projected salary increases for local employees. This year, it is based on information collected from 340 multinational companies across 66 countries and regions.
 

Global highlights

According to company predictions from around the globe, wages will rise 5.8 per cent on average in 2015, slightly up on this year’s 5.6 per cent average.
 
Companies in Argentina are forecasting the survey's highest pay rises in 2015. Employers there are predicting 28 per cent pay rises for staff next year on average. However, once inflation of over 27 per cent has been factored in these large increases will have little impact on spending power.
 
Argentina will replace Venezuela at the top of the list of countries where wage increases are highest. Soaring inflation in Venezuela means that despite companies there forecasting the second biggest pay rises in 2015, employees will see large salary decreases in real terms.
 
The lowest increases globally have been forecast by companies in the European locations of Greece, Ireland, Portugal, Spain and Switzerland. Pay increases of 2 per cent in 2015 are expected there. However, wages will rise 3.5 per cent in Europe on average.

Salaries in Asia are expected to increase by 7.2 per cent in 2015 with the largest uplifts being given in Pakistan and the lowest in Japan.

Factoring in inflation, real wage rises in Asia will average 2.7 percent – higher than the other regions surveyed. In mainland China, companies are planning to award 8 per cent 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 per cent in real terms.

Employees in the Middle East are set to see wages rise 4.7 per cent on average. In Australia, companies are forecasting 3.5 per cent pay rises for their staff.
  
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About ECA International (www.eca-international.com)
Recognised since 1971 as a world authority in its field, ECA is a leader in the provision of knowledge, information and technology to inform, guide and support managers handling compensation and benefits for international workers moving around the world. ECA offers organisations of all sizes an unrivalled portfolio of data, calculation aids, salary management software, reports, guides, surveys and consultancy to help them structure and manage their international rewards programmes for long-term, short-term and permanent moves.
 
Follow ECA on twitter: @ECAintl
 
About ECA's Salary Trends Survey
The information above was taken from ECA's Salary Trends Survey 2014/2015. The survey reports current-year salary increases for local national employees and the anticipated increases for reviews in the forthcoming year. It is based on information collected from 340 multinational companies for 66 countries. Reports are available free to all participants or for purchase either as a set or individually per country for non-participants from ECA's online shop. Information regarding ECA surveys can be found on the website.
 
Data is based on increases including merit. Including merit is the total salary increase and represents general cost of living/inflationary increases plus performance/merit related increases. The data above was collected from August to October 2014. The survey included data from all seniorities across the following industry groups which included Petrochemicals & mining; Chemical & pharmaceutical; Transport & logistics; Manufacturing & consumer goods; Legal & professional services; Engineering & technology; Retail, leisure & other services; Banking & insurance; Non-Profit.
 
For further information, please contact:
 
Josephine Woolley
ECA International
PR Manager
Tel: + 44 (0) 207 351 5000
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.