EVERYONE seems to be raving about the sudden economic surge in the Indian subcontinent. With high labour turnovers in the country’s Business Process Outsourcing and technology sectors, Indian workers are more likely to see sharp wage increases than in any other Asian country in the world.
It also comes as no surprise that India tops the list of world's top 10 nations with the highest forecast 'real' wage increases in 2007 (as mentioned in the The Times of India).
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According to an annual survey conducted by Hewitt Associates this year, Indian salaries are likely to grow at an average of 14.5 per cent in 2007, with banks and financial services companies offering the biggest hikes (as mentioned in the International Herald Tribune).
When compared to China, which reported an increase of 7.5 per cent, the average pay increase in India during the last five years stood at 11.5 per cent.
Since compensation pays a pivotal role in attracting talent and determining ongoing employee engagement, many local and multinational companies in India have started to render competitive remuneration.
Typically, in India, the take-home salary comprises the basic salary, dearness allowance, commissions, and bonuses paid as a percentage of profits and retrials. Other perks and incentives include allowances for housing, conveyance, medical, leave travel, and so on.
The latest trend adopted by local and multinational companies is to extend sign-on bonuses, performance-based bonuses, festival bonuses and company stock options.
Here, I have tried to determine which companies pay the hottest bonuses in India. I have whittled down my research to the top seven companies in India, which pay the highest bonuses (courtesy PayScale).
Rahul Prabhakar is a senior technical communicator with Samsung Electronics Co Ltd, and is based in South Korea. Rahul writes a theme blog on technical communication titled When the Muse Strikes!
Images courtesy PayScale
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