Compensation of IT companies

Thursday, January 17, 2008

Indian employees to get highest salary hike in 2008

Indians working with multinational corporations are slated to get the highest salary hike of about 14 per cent on an average across the world in 2008, as firms readily adopt measures to prevent their employees from jumping the ship.

According to data compiled by global human resources consultancy firm ECA International, Indian employees are expected to get the biggest paycheck increase globally this year, primarily driven by inflationary situations associated with the robust economic growth in the country.

"Salary increase in India is expected to be the biggest this year as companies have to keep in mind the inflation for their employees to maintain a good economic stature," ECA International General Manager Lee Quane said.

Other key reasons for the significant salary increase would be the talent-retention measures being adopted by the MNCs as well as soaring corporate profits that entitle the employees for some handsome increments, Quane said.

According to ECA International's Salary Trends Survey 2007-08, Indian employees working with MNCs are forecast to receive an average hike of 14 per cent -- the highest across the world, and up from 12.6 per cent in 2007.

India is followed by Argentina (12.7 per cent), Indonesia (11.3 per cent) and Russia (11 per cent).

However, salary hike in China, the world's fastest growing major economy, is likely to remain static at eight per cent this year.


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