Indian Inc salaries to rise by 17 pc

The salary doled out by India Inc could increase by average 17 per cent in the current year, says a new survey.

"The average salary increase in 2006 was 14-16 percent, and the report suggests it could be as high as 17 percent in 2007," says S.V.B Global, the international arm of financial services company SVB Financial Group in its study "Compensation and Benefits Industry Survey, 2007".

The survey conducted in collaboration with research and consulting firm, Zinnov, on HR practices of 31 product development companies with operations in Bangalore, Pune and Hyderabad, adds that the IT capital of India, Bangalore, has the deepest product development talent pool while Hyderabad offers the highest salaries.

The survey points out the lack of leadership in the middle-management and continued cost escalations for the big shots of IT talent pool as some of the main workforce challenges that India Inc faces.

"Lack of middle-management leadership, an overflow of entry-level and mid-level engineers and continued cost escalations for stations, religious places and also commercial establishments, especially malls and multiplexes where huge crowds gather to be as high as 17 percent in 2007," said SVB Global, the international arm of financial services company SVB Financial Gescalations for the big shots of IT talent pool as some of the main workforce challenges that India Inc faces.

"The information technology talent pool are among the key workforce challenges that the Indian market faces," said SVB Global in a release issued through AsiaNet. — PTI