Mar 16, 2007

Indian Job Market Heating Up

Inflation in India is hovering above 6.5%. However, India is the hottest job market in the Asia-Pacific region. Salaries are expected to rise 14.5% on an average. Banking, finance, insurance, hospitality, telecommunications, and engineering sectors are fueling this rise. The IT sector is not as hot. The lowest raised will be in health care, non-profit, pharmaceuticals, electrical and electronics industries.

Domestically owned organizations are awarding higher increases that the multinationals. Performance based pay is the way for the higher level executives. 99% respondents have linked their raises to performance. Stock options were the favored way to retain the employees especially as a result of the new tax on fringe benefits imposed in the latest budget.