India ranks among the lowest salary paying countries to entry-level employees in the entire Asia Pacific region, as revealed by professional services firm Towers Watson study.
According to the study, graduate Indian employees sit towards the bottom of the Asia Pacific countries in terms of starting salary ladder.
The average monthly starting pay in India is around USD 400 (Rs 24,000), less than one-fifth of the equivalent paid in South Korea and Singapore, said the study by Towers Watson’s Data Services.
However, experts believe the low starting salaries will give the MNCs a competitive advantage over other Asia-Pacific countries that ultimately will augur well with ‘Make in India’ campaign launched by Prime Minister Narendra Modi.
“Although dependent on prevailing exchange rates, the findings clearly highlight India’s position as a competitive and attractive workforce and talent market,” said Sambhav Rakyan, Data Services Practice Leader, Asia Pacific at Towers Watson.India ranked 9th out of top 11 Asia Pacific economies in terms of the average monthly starting salary.”The disparity in salaries also illustrates how a large knowledge pool and a significant cost arbitrage makes India a front runner in providing outsourced services. After achieving great success in IT/BPO, India can now become a natural choice for other sectors, like manufacturing,” he added.
