Slide 1 of 7

“The gradual increases in the U.S. are good short-term news, but falling pay budgets in every other industrialized country isn’t great news for the global economy, on which U.S. economic growth is so dependent,” says Kerry Chou, CCP, senior compensation practice leader for WorldatWork.

Here’s a look at the state of salaries at home and abroad, who is doing well and who is doing poorly. Mercer says in the U.S. “top performers continue to get salary increases nearly twice that of an average performer,” so for Americans, at least, “pay for performance is alive and well in the annual merit process.”