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Average pay rise to go up in 2006; India may top list

Our Bureau

In India, employees are expected to receive a pay rise of 11.3 per cent, with inflation pegged at 4 per cent.

Thiruvananthapuram , Oct. 3

GLOBALLY, salary increases in 2006 are expected to be higher than they were this year, says a survey by Mercer Human Resource Consulting.

Next year, the average pay rise worldwide is expected to be 2.4 percentage points above inflation, compared to the 1.9 percentage points recorded this year, the company says in its annual Global Compensation Planning Report that examines employment, economic and pay trends in 70 countries.

The highest average pay hike next year is likely to be in India, where employees are expected to receive a pay rise of 11.3 per cent, with inflation pegged at 4 per cent.

Egypt and Lithuania come next, with pay rises of 7.1 per cent and 5.5 per cent above inflation respectively, the report says.

The average pay in 69 per cent of the countries covered in the survey, including the US and the UK, is predicted to increase by between 1 percentage point and 3.5 percentage points above inflation, the report adds.

Employees in the UK can expect a pay rise of 3.5 per cent, with inflation pegged at 2 per cent, while in the US the average pay hike next year is likely to be 3.6 per cent, with inflation at 2.6 per cent.

The average pay increase in China is predicted to be 7.8 per cent, with inflation at 3 per cent, the report says.

Similarly, in Singapore and Hong Kong, the average pay increases are expected to be 3.8 per cent and 3.2 per cent, with inflation at 1.5 per cent and 1.1 per cent respectively.

In Japan, the average pay rise is predicted to be 2.5 per cent, with inflation at 0.1 per cent, the report adds.

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