2/8/06

SALARY RISE EXPECTED TO DROP BY 1 % ( approx. ) IN 2006

The annual salary survey conducted by Hewitt Associates is out.
 
Salaries in India are expected to rise by 13.8 % in 2006.
 
A drop from 14.7 % in 2005.
 
This survey was conducted across 29 industries, spanning 653 countries and in five specific job categories.
 
These are the highlights from the survey.
 
Among the professional/supervisor/technical employees the hike will be 15.1 %.
 
Broadly salaries are expected to grow in:
 
Asset management companies - 16.6 %
 
InfoTech - 16.15 %
 
Accounting / consulting / legal - 15.5%.
 
ITES - 15.4 %
 
Entertainment / communications / publishing - 14.6 %.
 
Among the Asian - Pacific countries, India shows  a more positive growth of 14.1 %.
 
But the surprise is that the salary survey shows that the Indian companies are paying higher salaries than the MNC's.
 
More of defensive response to the poaching of trained talent from them.