![]() Financial Daily from THE HINDU group of publications Friday, Nov 08, 2002 |
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IT-enabled Services Info-Tech - Trends Indian IT sector tops pay hikes in Asia-Pacific Our Bureau
NEW DELHI, Nov. 7 THE information technology sector in India, especially the IT-enabled sector (ITES), has given the highest salary hike of 16.4 per cent across all levels in the Asia-Pacific region in 2002, according to a survey conducted by Hewitt Associates. This marginal hike in the salaries follows a 30-per cent growth in the IT sector projected by the National Association of Software and Services Companies (Nasscom), as compared to a 28-per cent growth last year. The second on the list were countries such as the Philippines, China, Korea and Indonesia, which offered salary hikes ranging from 6.4 per cent to 10 per cent. Hewitt reportedly surveyed around 1007 foreign, locally-owned and joint venture companies representing around 8,74,000 employees in 13 countries. "The poorer salary increases in India as also across the region do not come as a big surprise considering the continuing struggle of the global economies affecting most businesses in this country," says Mr Nishchae Suri, Hewitt's South and West Asia Measurement Practice Leader. The survey has also indicated a rising prevalence of variable pay plans in India. "A greater proportion of respondents reported having a variable pay plan in 2002, which is as high as 88.1 per cent compared to 85.3 per cent in 2001. Furthermore, the contribution of variable pay to the total pay increased across the five employee groups," says the survey.
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