Vietnam: With a population of nearly 100 million people, Vietnam is a ‘magnet’ for foreign manufacturing investments as labour supply remains cheap. The market saw a real wage growth of 3.6%, partly due to increases in minimum wage set by Vietnam’s National Wage Council.
Thailand: As a key manufacturing base for Asia, Thailand still remains competitive in terms of labour cost and will continue to experience robust salary increases with real wage growth of about 3.7%. This is expected to drive salary increase rates up, from a real wage growth of 2.1% in 2018 to 2.8% next year. Malaysia: The new government’s economic policies and oil prices will have a big impact on GDP growth rate as well as Malaysia’s attractiveness as an investment destination. As a result, real wage growth of 2.0% in 2018 is expected to rise to 2.9% in 2019. In the financial industry, for example, recruitment is higher than resignation and could push up wages as employees seek higher pay by switching companies or jobs. Singapore: Salary increase rates are expected to come from sectors that are more labour-intensive. Overall compensation practices, including pay delivery management, retention practices, turnover, HR budgets, and variable pay spendingĭownload sample report | Purchase report Highlights Salary structure and promotional increases Overall, merit, mandatory, and general salary increase budget Understand variable compensation design trends and spending, pay delivery management strategies, retention, and turnover ratiosįind how you can develop effective pay for performance strategies for your top performers Key FeaturesĬompelling source of information for global budget planning and understanding local compensation practicesīudgets reported by industry, revenue, and number of employees for all levelsĭiscover trends on salary structure and promotional increases, including real wage growth (referring to salary increase rate adjusted for inflation rate)
The 2018/2019 Annual Salary Increase Survey reports are now available for purchase. This year, 14,037 employers participated in the survey-including 4,150 organisations in Asia. Building a successful organisation requires a number of key ingredients - a solid strategy, clear segmentation and go-tomarket proposition, demand for the service or product, and the ability to deliver.Aon runs the annual Salary Increase Survey in 132 countries across the globe. Randstad India CEO Paul Dupuis said, “A strong salary structure that strikes a balance between internal and external pay equity is important today for organisations as it’s often the key to bring top talent on board and keep them motivated. In the latest survey, for a person with more than 15 years of work experience and for an entry-level executive (less than six years of experience), consultancy is the highest paying job function with an annual average salary of Rs 34 lakh and Rs 6.8 lakh respectively. Second, a 51% increase in entry-level roles this year, which usually pay between Rs 4 lakh and Rs 6 lakh. Randstad said this is due to two reasons: First, a decline in mid-level roles, which pay an average salary between Rs 6 lakh and Rs 12 lakh. Bengaluru was at Rs 14.6 lakh last year, followed by Mumbai at Rs 14.2 lakh, Hyderabad at Rs 13.6 lakh, and Delhi-NCR at Rs 13.5 lakh. Bengaluru was the top paying city in 2017 too.īut there was a significant drop in salaries from last year, when the average CTC figures for all cities were upwards of Rs 13 lakh. India’s Silicon Valley was followed by Pune at Rs 10.3 lakh, Delhi-NCR at Rs 9.9 lakh, Mumbai at Rs 9.2 lakh and Chennai at Rs 8 lakh. Bengaluru was the highest paying city, giving an average annual CTC for talent across all levels and sectors at Rs 10.8 lakh. Following that are a number of technology roles - solution architects got Rs 15.1 lakh, product engineering specialists got Rs 14.8 lakh, and blockchain technology experts got Rs 14.6 lakh. In individual roles across experience, specialist doctors - with an average annual CTC of Rs 18.4 lakh - were the highest paid.
FMCG, the highest paying industry in 2017, followed next with an average salary of Rs 9.2 lakh. This was due to the increase in demand for implementation and compliance specialists, following the roll-out of GST.
AVERAGE SALARY IN INDIA 2018 PROFESSIONAL
Professional services - including management consulting, strategy, accounting, and audit and legal - was the second-highest paid space with an average salary of Rs 9.4 lakh. The report looked at 1 lakh jobs across 20 industry verticals and 15 functions. An increase in demand for specialist doctors and professionals with R&D skills is the reason behind the space topping the salary chart, according to recruitment firm Randstad’s salary trends study for 2018. Here are some company wise salary trends for the same job role. By Indian standards, it is a decent opening salary but pales in comparison to America’s compensation trends. NEW DELHI: Doctors and medical professionals are paid the highest in India with an average annual cost to company ( CTC) of Rs 9.6 lakh across all levels and functions. The average annual salary in USA is about 82K whereas it is about INR (Indian Rupees) 4.5 lakhs, for entry-level in India.
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