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si Team
Friday, February 29, 2008
Most of the companies in the country are now undergoing a ‘retrenchment therapy’ – a euphemism for the process of sending off employees as a way to reduce costs and get over the impact of the so called global recession. If any naive minds thought of this as a repercussion of last year’s ‘salary celebration’, they are not to be blamed.

According to the12th annual ‘Asia-Pacific Salary Increase Survey’ conducted by the global human resources services company Hewitt Associates Indian employees received an average salary hike of 15.1 percent in 2007, the highest increase across 14 Asia-Pacific countries. Over 550 companies across several sectors were covered in the survey.
Despite all the chaos caused by the recession, Hewitt Associates predicts a similar increase of around 15.2 percent in 2008. However, the salary hikes would gradually decrease and stabilize in the range of nine to ten percent by 2012, the organization adds.
The year 2008 has some thing to cheer up the Junior Managers as they are expected to receive a salary hike of 15.5 percent this year. But if you are a techie, you have to wait to feel rapturous. The Information Technology-enabled Services sector would record the lowest pay hike of 14 percent in 2008, the survey said.

Sandeep Chaudhary, India business leader, Hewitt Associates, shares his view on the hike, “Salary increases in the technology and outsourcing sectors have stabilized since 2004. They have been stabilizing between 13 and 14 percent, and this fluctuation is not any cause for concern. This is primarily because the salary levels in these two industries are already fairly competitive.”

The survey said that the highest salary rise in 2008 is going to happen in real estate sector – at around 25 percent. Hey, wanna shift to realty this year?

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