Wednesday, Nov 12, 2003
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By Our Staff Reporter
In its latest survey released today, the leading global HRD consultants — Hewitt Associates — has stated that employers throughout Asia Pacific continued to keep a tight rein on the purse strings as salary increases remained at low levels. However, Indian employees as well as their counterparts from Philippines enjoyed biggest hike in average salary. According to the eighth edition of Annual Asia Pacific Salary Increase Survey, "All the markets showed an average overall salary increase for 2003, with the highest being awarded in India followed by Philippines, China and Korea. Projections for 2004 indicate that salary increases will remain marginal, though fewer projections for pay freezes offers a ray of hope". Hewitt Associates surveyed 991 foreign, locally owned and joint-venture companies between July and September 2003 in 11 markets — Australia, China, Hong Kong, India, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand.
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