India ranked third in salary hike in Asia Pacific in 2015 | Daily Current Affairs 2021

India ranked third in salary hike in Asia Pacific in 2015

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India ranked third in salary hike in Asia Pacific in 2015India has been ranked No.3 in Asia Pacific in terms of the nominal salary increase expected in 2015, by consulting firm ECA International.

Among the 17 countries from Asia, Pakistan is at the top. Vietnam, India, Bangladesh and Indonesia are ranked thereafter in that order, according to the latest salary trends survey by ECA International.

In terms of ranking on expected salary increase in 2015, after adjusting for inflation, India slips to the seventh position.

China, on the other hand, ranked seventh on nominal salary hike, fares better at No.2 after adjusting for inflation.

Even globally, India is ranked at a high fifth position in terms of nominal increase and seventh in real wage hike.

Clearly, inflation in India is something which ECA International feels will be relatively higher compared with some other economies.

“Salaries in Asia are expected to increase by 7.2 percent in 2015 with the largest uplifts being given in Pakistan and the lowest in Japan. Factoring in inflation, real wage rises in Asia will average 2.7 percent – higher than the other regions surveyed,” the report said.

“In mainland China, companies are planning to award 8 percent salary increases again next year. Even after inflation, staff in China will be among the best off within the region and globally: they can expect to see increases of 5.5 percent in real terms,” the report said.

However, in the US and Canada, companies are predicting 3 percent wage increases – the same as this year’s hikes.

“Staff in Australia can expect to receive 3.5 percent uplifts again in 2015 while employees in the Middle East are set to see wages rise 4.7 percent on average,” it said.

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