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According to data compiled by global human resources consultancy firm ECA International, Indian employees are expected to get the biggest paycheck increase globally in 2008, 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 8 per cent in 2008.
Across the regions, employees in Asia would receive the highest salary increases worldwide.
The top ten countries globally in terms of expected salary rise include five Asian nations - India, Indonesia, Vietnam, China and the Philippines.
"Salary increases in the region (Asia) are predicted to be over 25 per cent higher than they were in 2005, and for the first time, the region's salary increase is expected to overtake that of Eastern Europe where wage rises are showing signs of similar increments as in 2007," ECA survey found.
In terms of rise from the previous year's hike, India and Vietnam would see the biggest rise in the annual hikes. While India's annual hike would rise from 12.6 per cent to 14 per cent, that of Vietnam would increase from 8.5 per cent to 10 per cent.
In contrast, companies in the developed countries such as Switzerland, Japan, France, Austria and Germany would dole out lowest salary hikes in 2008.
The biggest fall in salary hike since last year is likely in Slovenia, where the companies expect a wage increase of 5.5 per cent, down 1.3 percentage points from 2007.
In Latin America, companies in Argentina are forecasting salaries to rise from 11.3 per cent in 2007 to 12.7 per cent in 2008. This is almost double the regional average of 6.4 per cent, the survey added.
The ECA Survey contains information collected from about 250 multinational companies in 47 countries about actual salary increases for 2007 and predicted salary increases for 2008.
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RatingHi,Please let me know "IT companies salary survey 2007-08"
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I want to know what about the Growth of S/W Industry.So many Companies like TCS,PEROTSYSTEMS,CSE and many more are deduct there manpower. So how can u say In 2008 growth will be increase.
I don't think the surveys mentioned in this article are correct.Is there any survey done to find out the hike given to people moving from one company to other.I beleive it will definitely be in range of 35-40%. So, why is the hike more comparedto people working in the same company without moving to different company after a yearor so working in a company.Generally the Managements don't pay attention to the people working in their company butthey like to get new people giving them unusual hikes.The Management people should also think about giving similar hikes to people already workingwith them compared new joinees.I think all these surveys never reveal about the reality as these surveys are influenced bythe company managements but not the employees, because the people doing the surveys get benefittedby the companies but not by the employees anyway.
I don't think the surveys mentioned in this article are correct.Is there any survey done to find out the hike given to people moving from one company to other.I beleive it will definitely be in range of 35-40%. So, why is the hike less for the people already working compared to new joinees.Generally the Managements do not pay attention to the people working in their company for long time butthey like to get new people giving them unusual hikes.The Management people should also think about giving similar hikes to people already workingwith them compared new joinees.I think all these surveys never reveal about the reality as these surveys are influenced bythe company managements but not the employees, because the people doing the surveys get benefittedby the companies but not by the employees anyway.
I don't think the surveys mentioned in this article are correct.Is there any survey done to find out the hike given to people moving from one company to other ?I beleive it will definitely be in range of 35-40%. So, why is the hike less for the people already working compared to people jumping from one company to other.Generally the Managements do not pay attention to the people working in their company for long time but they like to recruit new people giving them unusual hikes, some companies don't even give hikes for those coming from other company It is different matter. The Management people should also think about giving similar hikes to people already working with them compared people coming from other companies. I think all these surveys never reveal the reality as these surveys are influenced by the companymanagements but not the employees, because the people doing the surveys get benefitted by the companiesbut not by the employees anyway.
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