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Can you expect a raise in salary this year? According to the latest forecasts by Willis Towers Watson (WTW), that very much depends on your location in the world. Their outlook for salaried employees looks by far the rosiest for those plying their trade in North America. Here, 100 percent of countries are expected to see an overall increase in salaries in 2022.
In regions such as the Middle East, Africa and Central/Eastern Europe however, employee expectations should be far more pessimistic, as our infographic illustrates. How about the source’s track record on such predictions? According to their latest report, last year’s forecasts were very close to reality for a large number of countries. Notable exemptions, where actual raises were considerably lower than expected, were Brazil, Russia and South Africa.
WTW says that the majority of countries will see pay rises in 2022, citing the following as some reasons for their confidence on the matter: “The buyout economy, long-term savings from hybrid work models and a booming job market have all led to forecasts for higher 2022 salary increase. The buoyant job market and the challenge of engaging employees without the office environment mean that companies will need to pay top dollar to hold on to their top talent.”
This chart shows forecasted salary changes for 2022, by world region.
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