Just two countries, Spain and Japan, rank worse than the United States when it comes to projected salary increases for 2013 – and they are way behind the leaders.
With a projected average salary increase of 10.7% in 2013, India is way out in front again, according to the WorldatWork 2012-2013 Salary Budget Survey. India also led the way last year with an actual increase of 11.2% in average annual salary.
Also just like last year, India is followed closely by China and Brazil who are projected to benefit from 8.8% and 7.2% salary increases, respectively. And that’s on top of the actual increases of 9.1% and 7.7% the countries incurred last year, respectively.
WorldatWork says this year’s results for the survey, which is conducted annually, were gathered from 4,299 responses from 13 countries representing 17 million employees.
Salary increases: The bottom 3 in
At the bottom of the list of projections for 2013 are:
- the United States, for which the average projected salary increase is 3% (compared to an actual increase in 2012 of 2.8%)
- Spain, for which the projected increase is 2.9% (compared to an actual increase of 2.8% in 2012), and
- Japan, for which the projected increase is 2.7% (compared to 2012’s actual increase of just 2.6%).
The projected 2013 salary increases for all of the other countries surveyed fall somewhere in the 3% to 4.3% rage. Those countries are Singapore, Australia, Canada, Germany, the U.K., France and the Netherlands.
While the fact that salaries in the U.S. are projected to grow is good news, the fact that the country is lagging so far behind others suggests there’s still a ways to go on the road to economic recovery.
Info: WorldatWork is a nonprofit organization that provides informational resources to HR and Benefits professionals. The full salary report will be available in early August from WorldatWork’s website.