After growing 4.3% from 2016, the rate of real salary increases in Asia will slow to just 2.8% in 2018, according to Korn Ferry. The forecast is based on the executive recruiter's pay database, which contains information for more than 20 million job holders in 25,000 organizations across more than 110 countries.
The wage rise in Asia is actually the highest in the world. The global average is just 1.5%, after adjusting for inflation, down from the estimated 2.3% this year and 2.5% in 2016.
"North America lags, with the United States seeing a predicted 3% pay increase, which represents only a real wage increase of 1% after adjusting for inflation," Korn Ferry reports. "Employees in Western Europe are predicted to see lower wage increases, with an average increase of 2.3%, and inflation-adjusted real wage increases of 0.9%."
Australasia, which includes Australia and New Zealand, is forecast to grow salaries at the slowest pace, 0.7% after adjusting for inflation.
Regional averages, growth of inflation-adjusted salaries