Indian employees receive highest pay hike in 2007: Survey

In a highest hike across 14 Asia-Pacific countries, Indian employees received an average salary increase of 15.1 percent in 2007, says global human resources services company Hewitt Associates, though the firm said salary hikes would gradually decrease and stabilize in the range of nine to ten percent by 2012.

The 12th annual 'Asia-Pacific Salary Increase Survey' conducted by Hewitt Associates involved over 550 companies across sectors.

According to Hewitt Associates, 2008 would see a similar increase of around 15.2 percent, marking the fifth consecutive year of double-digit growth of salaries in India.

In the last survey conducted for Jan-Oct 2007, India was placed second at 14.8 percent, next only to Sri Lanka.

In the management levels, junior managers are expected to receive a salary hike of 15.5 percent this year, recording the highest salary increase for eight consecutive years.

In the sector-wise classification, real estate is likely to witness the highest salary rise at around 25 percent in 2008 in India, even ahead of the retail and telecommunication sector, the survey said. In 2007, this sector had seen a salary rise of 25.2 percent.

Meanwhile, making a further dip from 14.1 percent in 2007, the Information Technology-enabled Services sector would record the lowest pay hike of 14 percent in 2008, the survey said.

“Salary increases in the technology and outsourcing sectors have stabilized since 2004. They have been stabilizing between 13 and 14 percent, which is not a variation of concern. This is primarily because the salary levels in these two industries are already fairly competitive”, quoted a Hewitt Associates spokesperson.

The survey noted external equity of compensation and role stagnation as main reasons for attrition.

 

Viral Thaker
___________________________________________________________________________________
TeamLease Services Pvt. Ltd. #81, Vukan Towers,  Thirumalai Pillai Road, T.Nagar, Chennai - 600017.
Tel No: +91 44 4390 1111. Direct No: +91 44 4390 1139. Fax: +91 44 42067665.
Web: www.teamlease.com          Visit our Blog: http://teamlease.blogspot.com/             Putting India to Work”

P Consider the environment. Please don't print this e-mail unless you really need to.

 

The information contained in this electronic message and any attachments to this message are intended for the exclusive use of the addressee(s) and may contain proprietary, confidential or privileged information. If you are not the intended recipient, you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately and destroy all copies of this message and any attachments contained in it. Contact your Administrator for further information.