Like the car manufacturer, many German companies pay inflation compensation.
(Photo: dpa)
Dusseldorf According to surveys, salaries in Germany are expected to increase by around five percent in 2023. This is the result of surveys by several consulting firms and a research institute in the economy.
Management consultancy Willis Towers Watson (WTW) is forecasting salary increases of 4.5 percent. The Kienbaum consultants expect an increase of 4.9 percent. The Ifo Institute and the personnel service provider Randstad even expect wages to rise by 5.5 percent in the coming year.
WTW and Kienbaum each surveyed around 800 companies. Almost 1,000 HR managers took part in the Ifo-Randstad survey. The surveys thus provide an overview of what employees can expect in 2023 – and what they can demand.
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