Congrats, World, You’re Getting a Raise Next Year

TIME

Here’s some good news for everyone: salaries are expected to increase by 5.4% on average globally in 2015.

That’s the key finding in a study from Hay Group, a global management consultancy firm, which was published this week. The results represent an increase from last year when the global average rose 5.2%.

The U.S. is expected to see a modest increase of 3%, according to the report, up slightly from 2014’s 2.8% increase. And when that increase is adjusted for inflation, you should only expect a 1% bump on average.

The data were taken from Hay Group’s PayNet, which manages data for over 16 million workers in 24,000 organizations in 110 countries. The report also draws on inflation data from the Economist Intelligence Unit to determine just how effective the salary increases will be for each country surveyed.

While the global figure may show an optimistic outlook overall for…

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