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Indian Employees To See Highest Pay Hikes Globally In 2020, Real Wage Growth Of Pakistanis To Be Negative: ECA Report
Women employees working at an office in Gurgaon. (Priyanka Parashar/Mint via Getty Images)
As per the recently released global survey by ECA International on trends in real salary growth, Indian employees can expect the largest pay hikes of any country in the world in 2020. Real salaries are expected to rise 5.4 per cent for Indian workers in the said year.
India’s position in the latest report is an improvement over the previous survey, in which it had topped the Asia-Pacific region, while this time it has topped the chart for salary hikes globally.
In stark contrast, the country’s next-door neighbour Pakistan has fared extremely poorly in the report, being the only country in the Asia-Pacific region where real salaries are expected to decline in 2020.
The average Pakistani employee is expected to see a nominal increase of 10 per cent in his or her salary, but as the country’s inflation rate is predicted to be 13 per cent, this will mean a minus 3 per cent growth in real terms.
Vietnam and Indonesia are the two countries just behind India in the Asia-Pacific region, with salaries predicted to rise by 5.1 per cent and 4.6 per cent respectively. Wage growth in China will be more modest at 3.6 per cent.
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