For a big pay rise next year, the best place to live in Asia Pacific (APAC) may be an emerging market. If you're an IT worker, even better.
A survey released Tuesday by professional services firm Towers Watson found that South Asian countries will enjoy the biggest average salary budget increases in the APAC region next year.
Employers in Pakistan, Bangladesh and India are projected to increase wage allowances by 12, 11.2 percent and 10.8 percent respectively, the survey found. That's well above the Asia Pacific average of 6.8 percent.
Vietnam ranked fourth at 10.4 percent, followed by Indonesia's 9.4 percent. Among the region's developed economies, Hong Kong and Singapore are expected to see a 4.5 and 4.4 percent spike respectively, while Japan is at the bottom of the scale at 2.4 percent.
Of the sectors surveyed, technology will see the biggest budget hike next year at 6.5 percent on average, compared to 6 percent for financial services, and 5.8 percent for pharmaceutical.
But don't celebrate just yet.
Taking inflation into account, actual wage increases are much leaner.
More of workers' paychecks may be eaten up amid growing price pressure next year, indicating employers are likely to be more focused on individual performance than inflation and the economic environment when awarding increases, according to Towers Watson.
Looking at real wage growth for 2016, i.e. adjusted for inflation projections, Myanmar topped the list with a 6.8 percent increase, followed by India at 6.1 percent, and 5.9 percent for Pakistan.