Salary rise in India the highest in Asia

By agencies   |   Thursday, 21 July 2005, 07:00 Hrs
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CHENNAI: India had the maximum average salary increase of around 10 percent in Asia-Pacific in 2005, according to a study done by Watson Wyatt Asia Pacific, which provides services in the areas of human capital.

The Indian business process industry had the maximum average salary increase of around 15 percent, followed by high-tech, engineering and logistics and shipping, Greg Sargeaunt, Managing Consultant, Data Management Center, Hong Kong, Watson Wyatt, said.

Drawing a parallel between India and China, two of the fastest growing markets in Asia-Pacific, Sargeaunt said compensation levels in China were lower than India. The Chinese had an average increase of 6-8 percent.

Soon the operational cost in Beijing and Shanghai in China will be as much as in Hong Kong. Every week around 1,000 new companies come up in Shanghai and an equal number of them close down in a week. This is because of labor movement, he said.

According to Sargeaunt, in India, the compensation level has been cited as the number one reason for employees leaving their jobs. Globally, companies are putting a strong emphasis on profitability and demand on employees to perform at higher levels would continue to grow, he said.

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