While overall salary hikes in India were projected at about 7 per cent above the rate of inflation, those in the country's software industry were projected at 16.9 per cent, the highest average projected salary increase for 2004 across 11 countries, Hewitt said in its annual Asia-Pacific salary survey.
Employees in the Indian infotech-enabled services industry were on average awarded salary hikes of 15.4 per cent in 2003, compared with 9.4 per cent for software development professionals.
These sectors also saw the highest salary rises in the Asia-Pacific, as employers across the region continued to restrain hikes.
Employees in India were provided a higher salary increase than their counterparts in Japan, Australia, China, Hong Kong, Singapore, Korea, Taiwan, the Philippines, Malaysia and Thailand.
Hewitt surveyed 991 firms across the region. While many firms expect the global economy to gain momentum, others are scaling back their expectations after a difficult 2003.
The projections compare well with meager expectations of an average 1.3 per cent pay rise in the US. Fewer Asian companies anticipate pay freezes, offering some hope to workers ranging from senior managers to clerical staff.
"All the markets showed an average overall salary increase in 2003, with the highest hikes being awarded in India followed by the Philippines, China and Korea," Hewitt said in its survey report.
Hewitt said India's software development industry reported the highest average projected salary hike of 16.9 per cent in 2004.
Pay freezes were reported in 4 per cent of the 92 companies surveyed in 2003, but none of these was expected to repeat it in 2004, the survey pointed out.
