Companies in Argentina are predicting the biggest wage hikes in 2015, around 5 times the global average, according to a new survey.
Employers there expect to give their staff a near 30 percent pay rise on average, human resources consultancy ECA's 2014/2015 Salary Trends Survey showed, compared with the world average of 5.8 percent.
The survey, published on Thursday, is based on information collected from 340 multinational companies for 66 countries.
Argentina's fat pay increase is not being driven by stellar corporate performance, however. Higher wages are a result of sky-high inflation in Latin America's third largest economy. A sharp currency devaluation in January has fueled inflation as businesses raise prices to adjust to the new exchange rate.
"Employers there are predicting 28 percent pay rises for staff next year on average. However, once inflation of over 27 percent has been factored in these large increases will have little impact on spending power," ECA said.
Rest of the world
As a region, employees in Latin America can expect to see the largest pay increments globally at an average of 11.4 percent, compared with 7.2 percent in Asia, 5.1 percent in Eastern Europe, 3 percent in North America and 2.5 percent in Western Europe.