Indian IT staff hit jackpot

[OhioChick]

Wednesday February 07, 2007
By Koh Gui Qing
SINGAPORE - Asian workers are expected to enjoy the highest pay rises in the world this year, thanks to robust economic growth, talent shortage and lower inflation, a survey showed yesterday.

Real wage increases, which represent workers' annual salary rises after taking inflation into account, are expected to climb an average 3.6 per cent in Asia this year, a 50 per cent jump from 2.4 per cent last year, according to a survey by human resources firm ECA International.

Robust economic growth has turned Asia into one of the fastest-growing millionaires clubs in the world as private bankers flock to the region and as banks such as Merrill Lynch/Capgemini bet that the wealth of Asian millionaires may hit US$10.6 trillion ($15.5 trillion) in 2010.

Salaries for Asian workers may get a bigger boost because Asian economies are growing faster than the supply of talent and because falling inflation rates are lifting purchasing power, said Lee Quane, of Hong Kong-based ECA.

According to the survey, which compares 45 countries, workers in India are set to enjoy the sharpest jump in real wages this year at 7 per cent.

http://www.nzherald.co.nz/category/story.cfm?c_id=55&objectid=10422735


<snip>

Highest forecasted real wage increases in 2007:

1. India
2. Indonesia
3. China
4. Philippines
5. Thailand
6. Slovakia
7. South Korea
8. Malaysia
9. Egypt
10. Russia

[ixion]

1. I guess they like having all our tech jobs

wasn't it nice of us to destroy our job marketplace for them? :sarcasm:

[ClintonTyree]

2. Pretty soon those American companies will have to find......

other countries to export the jobs to. RISING WAGES? :wow: They won't tolerate that. There must be some new third world country that would love these jobs at a fraction of what they're paying the OLD third world countries. Hey, I've got it! :think: The United States! People there will work for next to nothing now that their jobs have all been exported. They'll be tickled pink to get their old jobs back at a third of what they were making before!
Creative thinking like that deserves a hell of a bonus. Give management a 50% across the board raise!