Zinnov, which does a bit of blogging here, and SVB India Advisors, recently came out with a 600-page report on "compensation and benefits" specifically for tech companies in India. In an executive brief (which runs 32 pages), that Sandhill.com is running, you’ll learn such interesting tidbits as these:
- The engineering function saw an average salary increase for 2006 of 16%.
- For tech support and operations support functions, the increase was 14%.
- The average turnover rate was 13%.
- Raises typically happen in March and April.
- Signing bonuses are gaining popularity, to offset options or a bonus a given candidate was expecting to receive before he or she jumped ship.
Interestingly, the total industry average salaries in 2006 for product engineering companies actually dipped 6%. Why? The talent pool is too small. That’s driving companies to bring in "freshers" (Americans know them as newbies), people coming in with zero to two years of experience, who get lower salaries, thereby depressing the overall salary level.
If you’re in a position to care about compensation for this type of company in India, this might be worth ordering. Funny thing, though. I can’t figure out how you’re supposed to order it, other than contacting [email protected] or Roma David at rdavid (at) svb.com and asking.
