Indians To Witness 10.8 Percent Rise In Salaries In 2015: Survey

BANGALORE: Exciting times are ahead for job goers, as Indian employees are expected to see a salary hike of 10.8 percent in 2015, even as pay increases across Asia Pacific region are set to rise by an average 7 percent in the coming year, according to a study by Towers Watson.

As per the Towers Watson 2014-15 Asia-Pacific salary budget planning report, which includes 2,900 sets of responses received from over 300 different companies, it is said that Pakistan, Bangladesh and Vietnam are set to lead the pack with over 11 percent hike, while India is placed at 4th spot with an increase of 10.8 percent. But having said that an equivalent rise in inflation in the region implies that pay increases might be eroded in the coming year.

Interestingly, China climbed it way up with a real salary increase of 5.2 percent after aloowing inflation, followed by Pakistan at 4.5 percent, Bangladesh at 4.3 percent, Vietnam at 4.1 percent and lastly Sri Lanka with 3.8 percent. India dropped down by two places to sixth position with a parallel real term increase of 3.5 percent.

The report also indicated that there has been a positive economic sentiment, where all 20 surveyed countries will witness an increase in regular salary in 2015 with just a few number of companies opting for a salary freeze or postponement.

Sambhav Rakyan, data services practice leader, at Towers Watson said, "We foresee an increased economic growth in Asia Pacific in 2015 in light of a declining unemployment rate and rising GDP in the region. This, in turn, will lead to inflationary pressures that affect real salary increases. Indians will only see an effective salary increase that is one-third of the overall salary increase due to such pressures."

And with an effective leader like Modi, India is all set to see ‘Acche Din.’
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