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Omam
Consultants in the News |
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India sees highest salary rise in Asia-Pacific
3 Mar 2007, 0122 hrs IST,TNN
BANGALORE: Indian enterprises have increased salaries by an average of 14% in 2006, the highest increase in the Asia Pacific region.
During the same period, companies in other key geographies like China and the Philippines increased salaries only by 8%, while in Korea it was 7%, says a Pan Asia survey on "Compensation Trends" conducted by
Omam Consultants, a management consulting and staffing outfit. The salaries for management staff in India was up by an average of 16%, again much higher than that in other countries of the region.
Presenting the findings of the survey at a seminar on "Retention ? Biggest Business Challenge", organised by Bangalore Chamber of Industry & Commerce (BCIC) here on Friday,
Omam Consultants director Rajeeva Kumar said during the period, the banking sector accounted for the highest increase in variable pay at 24%, up from 13% in the previous year, followed by IT sector 18% (13%), manufacturing 16% (10%), FMCG 18% (14%).
"Variable pay factor was introduced in 1999-2000. In 2001, the average ratio between fixed and variable was 87:13, in 2006 it changed to 86:14. It seems to have sort of stabilised now,"
Kumar said.
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