Criterion
MEDIA, JOBS & RESOURCES for the COMMON GOOD
NEWS  |  Careers

Survey Predicts Inflation to Outweigh Wage Increases


Monday, 12th November 2012 at 9:33 am
Staff Reporter
Australian companies are forecasting a 4% increase in salaries in 2013, according to the Salary Trends Survey by international assignee management firm, ECA International.

Monday, 12th November 2012
at 9:33 am
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Survey Predicts Inflation to Outweigh Wage Increases
Monday, 12th November 2012 at 9:33 am

Australian companies are forecasting a 4% increase in salaries in 2013, according to the Salary Trends Survey by international assignee management firm, ECA International.

But the management firm says that higher inflation next year means that employees will actually be less well off in real terms.

“For the third year in a row Australians can expect 4% increases to their salaries,” ECA International’s general manager Anna Michielsen said.

“However, with annual inflation in Australia predicted to be 2.6% for 2013, real wage increases i.e. the difference between actual salary increases and inflation, will be 1.4%.

“This is the third lowest in the region and down from this year’s 2% real wage increments. Nevertheless, it still remains at a significantly higher level than the previous decade when salary increases in real terms were lucky to get near 0.5%,” she said.

The ECA Salary Trends Survey 2012/2013 reports current-year salary increases for local national employees and the anticipated increases for reviews in the forthcoming year.

ECA says that the survey is based on information collected from 322 multinational companies for 65 countries and is used by international companies to monitor and benchmark company salary increases in local markets around the world.

The survey reveals that the average salary increase in the Asia Pacific region be 6.2% in 2013, the same as this year. Overall this average is still higher than those forecast for Europe (3.3%) and North America (3%).

ECA says that the ongoing economic uncertainties in Europe as well as lingering worries about the US will impact wage increases globally.

“In the vast majority of countries surveyed, salary increases predicted for next year are the same or lower than last year. It is anticipated that global salaries will go up by 5.5%, slightly lower than this year's 5.6%,” it said.




Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Full-Time Work No Longer A Reality for Young Australians

Wendy Williams

Thursday, 14th June 2018 at 8:48 am

New Joint Venture to Boost Employment for People with Disability

Luke Michael

Tuesday, 1st May 2018 at 5:21 pm

Improving Employment Outcomes for African-Australian Youth

Luke Michael

Monday, 16th April 2018 at 8:22 am

Motivating Factors Protect Against Negative Stress

Wendy Williams

Thursday, 5th April 2018 at 9:34 am

POPULAR

Australians Are Giving Less

Wendy Williams

Thursday, 14th June 2018 at 8:00 am

The Need for Leadership to Address White Supremacy in the NGO Sector

Luke Michael

Thursday, 14th June 2018 at 8:53 am

Full-Time Work No Longer A Reality for Young Australians

Wendy Williams

Thursday, 14th June 2018 at 8:48 am

Record Number of Women Honoured in Queen’s Birthday Awards

Wendy Williams

Monday, 11th June 2018 at 12:05 am

Criterion
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!