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Pay hikes to return to double digits in ’10: poll

Pay hikes to return to double digits in ’10: poll
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First Published: Tue, Oct 13 2009. 12 31 AM IST
Updated: Tue, Oct 13 2009. 12 31 AM IST
Bangalore: Salary increments by Indian firms are likely to return to double digits in 2010 as the economy crawls out of the global slowdown, according to a survey by the Indian arm of US-based human resources firm Mercer Llc.
The company forecast salary increments of 10.9% in 2010, up from 8% this year. “Most sectors are forecasting double digit increases for next year,” said Gangapriya Chakraverti, India business leader, information product solutions business, at Mercer India Consulting Pvt. Ltd.
According to the Mercer India Monitor, the Indian information technology industry was the worst hit by the downturn, with nearly no salary increase in 2009 across companies. The pharma, consumer and manufacturing sectors, on the other hand, offered salary raises in excess of 7%.
India’s second largest software exporter, Infosys Technologies Ltd, announced pay hikes earlier in October, after having frozen salary rises in April. Mercer, which surveyed 93 companies across sectors, said half the respondents plan to hire in the next three months, either to add headcount or to make up for attrition.
Recently, the Manpower Employment Outlook Survey India, brought out by Manpower Inc. for the first quarter of 2009, said 22% of the 3,600 employers it surveyed expected to raise headcount.
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First Published: Tue, Oct 13 2009. 12 31 AM IST
More Topics: Pay | Salary | jobs | IT | India |