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Indians to see highest salary hike in last three years: Study

"Seeing the benefit of being a part of the fastest growing major economy, Indian workers are forecast to see the highest real wage increase they have seen in the last three years, at 4.7 per cent compared to 2.1 per cent last year and 0.2 per cent in 2014," the study said.

Devika Singh        Last Updated: December 9, 2015  | 21:06 IST
Indians to see highest salary hike in last three years: Study
The study also says that global salaries in 2016 are expected to see highest rise in last three years of 2.5 per cent, while Asian workers will see biggest real wage rise.

A recent study by global people and organisational advisory firm Korn Ferry Hay Group has forecast that Indians will see a pay rise of 4.7 per cent in 2016, which is the highest the country has seen in the past three years.

"Seeing the benefit of being a part of the fastest growing major economy, Indian workers are forecast to see the highest real wage increase they have seen in the last three years, at 4.7 per cent compared to 2.1 per cent last year and 0.2 per cent in 2014," the study said.

The study also says that global salaries in 2016 are expected to see highest rise in last three years of 2.5 per cent, while Asian workers will see biggest real wage rise.

The term real wages refers to wages that have been adjusted for inflation.

The study predicts that the largest real wage increase in Asia will be in Vietnam (7.3 per cent), China (6.3 per cent) and Thailand (6.1 per cent).

It adds that despite economic slowdown, workers in China are set to see an 8 per cent salary increase in 2016 as employment rates continue to grow due to the increasing need for skilled workers and the sustained rise of the burgeoning middle class.

The data for this study was drawn from Hay Group PayNet, which contains data for more than 20 million job holders in 24,000 organisations across more than 110 countries.

The study shows predicted salary increases, as forecasted by global HR departments, for 2016 and compares them to predictions made at this time last year regarding 2015. It also compares them to inflation predictions for 2016 from the Economist Intelligence Unit.

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