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As of March 2021, the 10 countries with the highest median incomes ranked as follows: 10 Countries with the Highest Median Income, March 2021 (PPP, Current Int$): World Bank tracks a number of income- and poverty-related metrics, including GDP per capita, GNI per capita, GINI coefficient per country, and median income. However, the median (also called "typical") income is $40,000, which is fairly accurate for everyone but Jordan. Thanks to Jordan's unusually high salary, the average, or mean, of all these incomes is $177,142, which is wildly inaccurate for all seven people listed. However, that being said, as mentioned earlier, recruitment is yet to show any drastic improvements as only 10% of Indian organizations who took part in the study reported plans of adding new headcount compared to 14% in the last quarter.For example, consider the following sample group of people and their incomes: Lastly, out of all the surveyed companies in India, only 37% have projected a positive revenue outlook going forward in the next 12 months. This is followed by the Philippines, Singapore, and Hong Kong with 5%, 3.5%, and 3%, respectively. The median salary increase in Indonesia is projected at 6.5%, while China is at 6%. In comparison, the projected salary hike in India during 2021 appears quite satisfying. The Salary Budget Planning report reveals a comparison of projected salary hikes across the key Asia Pacific markets in 2021 as well.
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In 2021, the average pay hike for these categories is being pegged to be at 7.3% while in 2020 it was 7.5%.
#WHATS THE AVERAGE SALARY IN INDIA PROFESSIONAL#
The same goes for middle management including professional and support staff as well. The survey also notes that the median salary increase at the executive level which is projected at 7% for 2021 is marginally lower than 2020 which recorded 7.1% hike in salary. 2021 vs 2020: Decrease In Average Pay Hike India Mathur also mentioned how one can expect a greater emphasis to be put on pay for performance or pay linked to business output thus signaling companies are looking to aggressively optimize for efficiency and effectiveness throughout their workforce. Rajul Mathur, Consulting Head Talent & Rewards from Willis Towers Watson India mentioned that with compensation budgets which are definitely lower than previous years – all thanks to the pandemic, Indian companies are now most likely to prioritize allocating it towards protecting more able and skilled talent. The report also highlights that even though the business environment and sentiment have improved post-pandemic, it might not concretely translate into Indian companies recruiting more individuals in 2021.Īdvertisements Pay For Performance To Increase In India Inc. The survey found that the lowest pay hike in India is being expected in the energy sector where the average salary hike is expected to touch 4.6%. The financial services and manufacturing sector grabs the second place in the list of salary hikes in India by sector as they are projected to offer a 7% pay hike, followed by ^% salary hike employees working in the BPO sector are projected to receive. Let’s find out what they are! Sectors Offering Higher Salary Hikes In IndiaĪccording to the report, high-tech, pharmaceuticals along with consumer products and retail are projected to offer a median salary increase of close to 8% which is more than the general pegged industry projection. It received over 18,000 sets of responses from more than 130 countries worldwide and highlights several important aspects of employment in India Inc. The trends on salary hike in India in the post-pandemic year is quite satisfying, if not overwhelming.