Mixed salary growth across globe, eight years after start of recession

A new analysis by the Hay Group division of Korn Ferry shows mixed salary recovery figures across the world, eight years after the fall of Lehman Brothers signalled the beginning of one of the worst global recessions in history. According to the study, India's salary growth stood at 0.2 per cent in real terms, with a GDP gain of 63.8 per cent over the same period. Interestingly, emerging markets saw the best and the worst salary growth. China, Indonesia and Mexico had the largest real salary growth at 10.6 per cent, 9.3 per cent and 8.9 per cent respectively. Turkey, Argentina, Russia and Brazil had the worst - at - 34.4 per cent, -18.6 per cent, -17.1 per cent and -15.3 per cent respectively. Most emerging G20 markets stood at either one end of the scale or the other - either among the highest for wage growth, or the lowest. However, India stood right in the middle with all the mature markets. The US suffered one of the worst salary recoveries among developed nations in what is known as the G20 - the world's top economies.