HR heads here may paint a gloomy picture about salary hikes in 2012, but a global survey says that India will be among the top ten increment givers in the world.
According to a 2012 worldwide salary increment outlook study done by global recruitment tendering platform MyHiringClub.com and job portal NriJobPortal.com, India ranks tenth on the list of countries doling out the biggest hikes.
The study forecasts that worldwide salary increment average this year will perk up by 1.9 per cent compared to last year and touch 10.19 per cent. “With the technological developments taking place at a higher rate, the salary packages too are increasing at a much higher rate,” explains Mr Rajesh Kumar, CEO, MyHiringClub.com about this increase.
The salary outlook is based on a comparison of the total annual cash compensation and total remuneration information of 5,326 companies in 31 different countries, from December 15-31, 2011.
Based on this information, Denmark topped the chart with 15.49 per cent hike expected this year, followed by Ireland at 15.31 per cent. Switzerland (14.89 per cent), Belgium (14.76 per cent), Germany (14.57 per cent), US (14.33 per cent), Australia (14.21 per cent), Hong Kong (14.19 per cent) and India (14.03 per cent) filled up the next positions.
Significantly, US has plummeted by five spots to seventh position with an average increment of 14.21 per cent forecast. India, by contrast, has made gains and is up by nine positions.