Yesterday I came across an interesting link to a website in one of the business networks I am declared to. It’s about an annual study provided by the HayGroup which shows the forecast of the global salary development in nations all over the world.
Before I talk about the results I want to give you a background on the HayGroup and the study. According to the HayGroup the data is drawn by a database which includes 14 employees from 20,000 organisations all over the world. The HayGroup itself is a global consulting company which offers tools for different stages within the HR process like Talent Management, Time Management and Payment Issues like this study. There are aproximately 2500 employees working for this company in almost 50 countries.
Major points of the study in my point of view:
- different risings within the European nations between fast growing markets like the Ukraine (10%) and stagnating markets like France(2.5%), not to mention the crisis-shaken nations like Greece or Ireland (each 0%)
- the steady economic growth in the Latin American and Asian markets
Like in every study you can use methods to produce the outcome subjective. I think the HayGroup did a very good job with this study concerning the detailed evaluations of the European, American (North & Latin) and Oceanian payment rises. But I also found three things to do better to keep an objective view for the reader.
- just 10 countries from Africa (most from the MiddleEast) are not exactly useable for a continent average
- the average for the continent is calculated by the arithmetic averages which means that Panama (ca. 3.5 million inhabitants) has the same value as Brasil (ca. 192 million)
- the salary rise is not balanced with the inflation rate
These features might be available in the more detailed information which you can purchase in the pay portal of the HayGroup. Since I am a student again I cannot afford to pay for it 😉
Here you can have a look on the infograph with the major results of the study.