June 7, 2016 6:24:05 pm
Annual base salaries in India across levels are the lowest in the Asia Pacific region, says a survey. Willis Towers Watson on Tuesday also said that China’s base salaries across all job grades are higher than in India by 64-100 per cent.
The annual base salaries in India are the “lowest in the Asia Pacific (APAC) region and significantly lower than China”, it said. The findings are based on a survey that covered over 5,500 companies in the APAC region and around 313 firms from India participated.
In the APAC region, entry-level salaries for white-collar professionals are among the lowest in India and the Philippines at an average annual base salary of around $11,000. Their peers in China receive almost twice as much, the survey said.
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“At approximately $66,000, India offers the lowest average annual base salary across the region, which is almost half that of China,” it added. In terms of highest paying countries, Australia tops at entry and mid-management levels while Singapore is on top when it comes to senior and top management positions.
“China salaries are notably higher across levels as compared to India, 81 per cent higher at entry level, 84 per cent at mid-level, double at senior level and 64 per cent at top management level,” it noted.
Sambhav Rakyan, Data Services Practice Leader, Asia Pacific at Willis Towers Watson said that a young and tech savvy workforce as well as comparatively lower salaries, especially at the entry level, augur well for India’s quest to emerge as a top manufacturing destination.
These factors, combined with a focus on skills, could give India an advantage in comparison to China, where an ageing population and shrinking workforce mean salaries would remain higher, he added. Willis Towers Watson offers global advisory, brooking and solutions.
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