Indian companies are among the world’s 10 lowest paying employers in the IT space, with their mid-to-senior level staff getting an average salary of $38,767 (about Rs 21.5 lakh) per annum — less than one-fourth of the IT pay package at globally top-paying Swiss firms.
Salaries in the IT sector of Switzerland are the highest in the world at an average of $168,211 (about Rs 93 lakh) per annum, as per a study titled World wide IT Salary 2012, conducted by recruitment service provider MyHiringClub.com. It has ranked India at eighth spot among 10 worst IT paymasters globally.
The study, which was conducted in August this year, took into account the average salaries for people with four and more years of experience for the Indian and other companies.
The report compared the total annual cash compensation and total remuneration information for IT staff in more than 6,000 companies across 40 different countries and found that employers in western Europe are the best paymasters.
It also found that compensation in developed countries focus more on variable factors, such as bonus schemes, to attract staff. At the same time, the emphasis remains on cash compensation in the lower-paying countries.
Interestingly, IT managers in India fare better than their counterparts in neighbouring China, where the average annual compensation package were lower at $38,624. Among the best IT salaries paying countries Belgium bagged the second position with an average salary of $144,980, followed by Denmark ($136,542), the US ($128,632) and the UK ($127,890).