Lower Inflation Rates Led to Salary Increases in 2013

Lincolnshire, Ill. — Oct. 8

A new survey from Aon Hewitt found that for the first time in several years, employees in multiple regions saw salary increases in the positive range for 2013, mainly due to lower inflation rates.

However, projected salary spending for 2014 is expected to vary amid continued global economic and political uncertainty.

Aon Hewitt’s Global Salary Increase Survey of more than 12,890 employers in 120 countries showed that when adjusted for inflation, average salary increases rose in all regions except for Africa. Next year, however, Aon Hewitt’s survey shows salary increases will vary by region.

In 2014, workers in Europe and North America are projected to see salary increases at 2.1 percent and 1.7 percent, respectively, after factoring in inflation, up from 1 percent and 1.1 percent in 2013. Salary increases for workers in Asia-Pacific and Latin America are projected to be flat year-on-year, while workers in Africa and the Middle East will see decreases.

Source: Aon plc