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Planning Global Compensation Budgets for 2024 - March

  • Global Economic Outlook - As we start 2024, assessing historical salary trends alongside local economic markers, such as unemployment rates, GDP, and inflation can be informative for upcoming salary planning. Our exploration begins by reviewing key global compensation trends outlined in the recent World Economic Outlook (WEO) report by the International Monetary Fund (IMF). The 2024 salary increases in this report have been updated with the most current data available.
  • Key Observations - Observe salary increase projections in the Americas, Asia Pacific, and EMEA (Europe, Middle East, Africa) for 2024 and how they compare to previous years to make better salary budgeting decisions.
  • Conclusion - While global inflation is expected to gradually decrease, with significant declines in some places where inflation remained elevated in 2023, challenges persist, including China’s property crisis and volatile commodity prices, influencing global economic recovery trajectories.

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Planning Compensation Incentives That Maximize Workforce Engagement

Improve employee engagement and performance by implementing compensation incentive plans into your strategy.

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National Compensation Forecast January 2024

Review compensation trends and get guidance on expected total salary increases for the upcoming year with SalaryExpert's National Compensation Forecast.

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