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BANGALORE: Indian enterprises have
increased salaries by an average of 14% in 2006, the highest
increase in the Asia Pacific region.
During the same
period, companies in other key geographies like China and the
Philippines increased salaries only by 8%, while in Korea it was 7%,
says a Pan Asia survey on "Compensation Trends" conducted by Omam Consultants, a
management consulting and staffing outfit. The salaries for
management staff in India was up by an average of 16%, again much
higher than that in other countries of the
region.
Presenting the findings of the survey at a
seminar on "Retention — Biggest Business Challenge", organised by
Bangalore Chamber of Industry & Commerce (BCIC) here on Friday,
Omam Consultants director
Rajeeva Kumar said during the period, the banking sector
accounted for the highest increase in variable pay at 24%, up from
13% in the previous year, followed by IT sector 18% (13%),
manufacturing 16% (10%), FMCG 18% (14%).
"Variable pay
factor was introduced in 1999-2000. In 2001, the average ratio
between fixed and variable was 87:13, in 2006 it changed to 86:14.
It seems to have sort of stabilised now," Kumar
said. |
