The scratches on my head seem to be healing now, after this great finding. Long back I used to hear this from one of my early employers “You pay peanuts, get monkeys”. However, while heading towards Entrepreneurship, it ‘forced’ me to read it in a different fashion “What one should pay to stay away from monkeys”. Unfortunately, my limited but repeated efforts and knowledge made me to surrender infront of the homogeneous question lately.
But, the subsets of the questions kept asking me one think always “Why such globally acclaimed Indian talent has been failed inside their own country when they have the most comfortable cushion beneath? Apparently, today I got the answer in my own questionable format; Yes, monkeys dance differently on different tunes because they have brains!
A recent study, titled “Worldwide IT Salary 2012”, conducted by global recruitment company myhiringclub.com, reveals that much appreciated Indian IT firms – which claim to stand tallest even in worst phase due to global melt down – are among the Top 10 worst paymasters globally.
The study reveals that Indian IT companies pay an avg $38,767 yearly to mid-to-senior executives which is almost one-fourth of the top companies. The highest paid employees belong to Swiss companies that pay the best remuneration to their employees and transform them into assets. The highest in the world, Switzerland companies pay check stay close to $168,211 yearly for the employees of same segment.
The study concluded in August 2012, compare yearly remuneration and annual cash compensation for It staff in around 6,000 companies across 40 different countries only to learn that western European companies are best paymasters.
However, while drilling down the same data from Asia prospective, Indian scores higher than its closest counterparts like China, Bulgaria, Indonesia, Philippines, Thailand and Malaysia where salary for the same grade is $38,624, $23,745, $33,768, $33,965, $34,107 and $36,790 respectively.
But this doesn’t justifies the Indian man-power cost as they are known to be the second best hard working employees after Japan. This clearly indicates towards the answer why Indians are failed to develop any global product till date while staying in the country. However, the same man power proves to be much more productive and effective only to show improved performance by multi-folds with any other employer of USA, UK or few other countries.
Switzerland is being followed by Belgium in highest paid employers with an avg salary of $144,980. While Denmark, the US and the UK stand on third, fourth and fifth position by offering $136,542, $128,632 and $127,80 avg salary to same grade.