{"id":251831,"date":"2022-10-26T18:01:00","date_gmt":"2022-10-26T18:01:00","guid":{"rendered":"https:\/\/haftavasool.com\/haftavasool\/?p=251831"},"modified":"2022-10-26T18:01:00","modified_gmt":"2022-10-26T18:01:00","slug":"salaries-will-rise-by-this-much-in-india-next-year","status":"publish","type":"post","link":"https:\/\/haftavasool.com\/haftavasool\/blog\/2022\/10\/26\/salaries-will-rise-by-this-much-in-india-next-year\/","title":{"rendered":"Salaries Will Rise By This Much In India Next Year"},"content":{"rendered":"

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\"Salaries<\/div>\n

ECA’s Salary Trends Survey is based on information collected from over 360 MNCs. (Representational)<\/p>\n<\/div>\n

Soaring inflation is set to put a major dent in salary increases for the second year running in 2023, according to a new survey that sees just 37% of countries globally expecting to report real-term wage hikes.<\/p>\n

The worst-hit region is likely to be Europe, where real salaries- nominal wage growth minus the rate of inflation- are seen being driven down an average 1.5%, according to workforce consultancy ECA International.<\/p>\n

UK employees suffered their biggest hit this year, since the survey kicked off in 2000. Despite a 3.5% average nominal pay increase, salaries in real terms fell 5.6%, due to 9.1% average inflation. They are set to tumble another 4% in 2023.<\/p>\n

In the US a real-terms drop of 4.5% this year is expected to be reversed by falling inflation next year, translating into a 1% real-terms salary hike.<\/p>\n

Asian nations make up eight of the top 10 countries forecast to see real salaries rise, led by India, up 4.6%, Vietnam rising 4.0% and China up 3.8%.<\/p>\n

Brazil’s 3.4% increase and Saudi Arabia’s 2.3% bump round out the top five.<\/p>\n

ECA International’s Regional Director for Asia, Lee Quane, said: “Our survey indicates another tough year for workers globally in 2023. Only around a third of the countries surveyed are forecast to see real-terms salary increase, though this is better than the 22% that experienced increases this year.” Average salaries fell 3.8% in 2022, according to ECA.<\/p>\n

ECA’s Salary Trends Survey is based on information collected from over 360 multinational companies in 68 countries and cities.<\/p>\n

These are the top 10 countries and their predicted real-terms salary increases in 2023:<\/p>\n

1. India (4.6%)<\/p>\n

2. Vietnam (4.0%)<\/p>\n

3. China (3.8%)<\/p>\n

4. Brazil (3.4%)<\/p>\n

5. Saudi Arabia (2.3%)<\/p>\n

6. Malaysia (2.2%)<\/p>\n

7. Cambodia (2.2%)<\/p>\n

8. Thailand (2.2%)<\/p>\n

9. Oman (2.0%)<\/p>\n

10. Russia (1.9%)<\/p>\n

And the bottom five, with their expected decreases:<\/p>\n

1. Pakistan (-9.9%)<\/p>\n

2. Ghana (-11.9%)<\/p>\n

3. Turkey (-14.4%)<\/p>\n

4. Sri Lanka (-20.5%)<\/p>\n

5. Argentina (-26.1%)<\/p>\n

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)<\/i><\/p>\n

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