|Rediff India Abroad Home | All the sections|
Indians to get the best pay hikes globally next year: Mercer
October 03, 2005 23:12 IST
Indians are expected to get the biggest pay hikes, averaging 7.3 percent, with the economy sustaining a high growth and low inflation of four percent in the coming year, according to global human resources firm Mercer Human Resource Consulting.
Globally, salaries are expected to rise by 2.4 percent in real terms but some countries. like India. will see pay hikes more than double the global average, Mercer said in its '2006 worldwide pay survey', released on Monday.
"The greatest increases are expected in India, Egypt and Lithuania, where employees are forecast to receive pay rises of 7.3, 7.1 and 5.5 per cent above inflation, respectively," said the survey, which was carried out in 70 countries.
The projected pay hike in India is expected to be 11.3 percent, which after adjusted against an inflation of 4 percent, translates into a real salary hike of 7.3 percent.
Indians will not only outsmart those in developed nations like the United States, United Kingdom, Switzerland and Canada, but far outpace other developing nations like China, Brazil, Argentina and Mexico, in terms of salary hike.
Comparing it with its fastest growing neighbour, Mercer said, 'India and China, where economic growth is driven by investment from the US, are expected to receive pay rises of around 11.3 per cent and 7.8 per cent respectively. Inflation in these countries is expected to be relatively low at 4 per cent and 3 per cent respectively.'
While the survey forecast salary hikes in Europe to remain stable, it is expected to vary greatly in Asia-Pacific region. In 70 percent of the countries, it said salary hikes are expected be in the range of 1-3.5 percent above inflation.