The country's economy is booming; its industry is robust, and while Indian Inc. is raking in the fruits so are Indian professionals with the fattest pay hikes in Asia.
According to the 9th annual salary increase survey by Hewitt and Associates, India had the best average pay increase in the Asia-Pacific region in 2004 at 13.7 percent, and the party is expected to continue in 2005 with an expected hike of 14.2 percent. Predictably, the information technology sector took home the fattest raises, with their average salary increase being 14.9 percent.
However, even as this report has given enough reason to the country's salary earners to rejoice, the country's IT outsourcing is worried that such hikes in pay may actually have an adverse effect on the country's money-spinning outsourcing sector, where companies from across the globe flock to for precisely the opposite reason; low overheads.
