Indian Workers to Get Highest Wage Hike in Asia Pacific this Year
by: Sarah Joson
Wednesday, February 22, 2012
According to a Salary Increase Survey done by consultancy firm Aon Hewitt, Indian employees will get an 11.9% salary increase in 2012. This is slightly lower than the 2011 hike at 12.6%, but India remains the top country in the Asia Pacific region to give the highest salary increase. Survey also indicates that the marginal drop in figures is brought about by a cautious approach of business owners towards economic uncertainty.
This would be the 10th consecutive year that India will dominate the Asia Pacific region for wage increases. Meanwhile, lagging behind India in terms of salary increases in the Asia Pacific region are China which is predicted to post 9.5%, and the Philippines with 6.9% for 2012. Other countries in the Asia Pacific region that are likely to have wage increases are Australia (4.6%), Hong Kong (5%), Japan (2.8%), Singapore (4.8%), and Malaysia (6.2%).
The Compensation Consulting Practice Leader of Aon Hewitt, Sandeep Chaudhary, said business views are recently indicating positive signs. Increase rates could mean that companies are prioritizing the talent of employees, while closely monitoring the economy.
The rates of salary increases in India are as follows: general/entry level workers are likely to get 11.8%, junior manager level at 12.3%, middle management at 12%, and senior management at 11.1% this year.
Source:
http://www.hindustantimes.com
This would be the 10th consecutive year that India will dominate the Asia Pacific region for wage increases. Meanwhile, lagging behind India in terms of salary increases in the Asia Pacific region are China which is predicted to post 9.5%, and the Philippines with 6.9% for 2012. Other countries in the Asia Pacific region that are likely to have wage increases are Australia (4.6%), Hong Kong (5%), Japan (2.8%), Singapore (4.8%), and Malaysia (6.2%).
The Compensation Consulting Practice Leader of Aon Hewitt, Sandeep Chaudhary, said business views are recently indicating positive signs. Increase rates could mean that companies are prioritizing the talent of employees, while closely monitoring the economy.
The rates of salary increases in India are as follows: general/entry level workers are likely to get 11.8%, junior manager level at 12.3%, middle management at 12%, and senior management at 11.1% this year.
Source:
http://www.hindustantimes.com
