Salaries at Indian Software Companies Jumped 54% in 1H; Overall Salaries Rose 22%
India
registered a record 22% salary rise in the
first half of 2006-07, driven by job boom and the shortage of
talent. By comparison, the wage hike was 17% in 2005-06 and
between 8.35% and 12.6% in the previous three years, reported
Business Standard.
However rising corporate profits seem to dwarf the record salary levels. The pre-tax profits of 1,900 listed companies in India increased 36% in the first half, while their salary bill rose by 21.94%. Salaries as a percentage of sales also declined from 7.04% in the first half of 2005-06 to 6.66% in first half of 2006-07.
|
Indian
Corporate Salary Increases |
|
| Sector | Salary Rise H1 2006-07 |
| Retail | 100% |
| Airlines | 93.2% |
| Software services | 54% |
| Private Sector banks | 48% |
| Media and entertainment | 40.5% |
| Print media | 26% |
| Manufacturing industries | 20% |
| Public sector banks | 4% |
Salaries in fast growing service industries like information technology, telecommunications, media, private banks and airlines rose between 30% and 50% in the first half.
Software services companies reported a 54% increase in salaries. These companies have increased their payrolls by over 150,000 in the last 18 months.
