Phenomenal Hike in Real Estate Salaries

February 20, 2008	(Be the first to rate this story!)  Loading ...
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A report by Hewitt Associates, a global human resource services firm reveals that Real estate or infrastructure has provided the highest salary hike in 2007. The sector has surprisingly left behind traditional front runners like IT and BPO.

Hewitt Associates also forecasts a gradual decrease in salary increases and a stabilisation of increases to a range of 9 to 10 percent by 2012. Factors influencing stabilisation include reducing the talent gap, changing the talent model, making training vital and re-engineering talent.

Though the fundamentals of the Indian economy are strong, the recent stock market fall and a strengthening rupee herald uncertainty. For India, the immediate implications of an economic slowdown in the U.S. is not worrying, but this is getting organisations to look at “productivity” as a single most important determinant of long-run prospects, the survey says.

The two fastest growing cost components in India are real estate or infrastructure and talent, and information technology and outsourcing companies, which have more than 75 per cent of production regulated by the U.S. economy. The highest increase in salaries is predicted in the middle management, junior manager and supervisor levels ranging close to more than 15 per cent while the top and senior management are likely to witness a hike of 13-14.5 per cent in 2008. For the general staff and manual workforce, the hike predicted is between 11 to 13.5 per cent.

News Published Under:   Real Estate India |

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