Global companies set to hold up salaries, this year 2009..

A large quad of world’s companies planned to freeze salary this year, though South America and Indian employees can expect hefty rises, as per a global survey. According to this, employees of Ireland, Lithuania and Japan will behold least pay rises. As compared to previous year 2008(6.2% decrease), there will be an average increase in salaries by 4.7% this year 2009. Since last September, there is an economic revolution, due to which many firms have revised their co-workers salary, better as per predictions. On the contrary, companies situated in Venezuela, are set to pay the biggest amount of rise in salaries by 24%, followed by Argentina set to have increase by 12%.

Employees in Chile and Brazil could also expect higher pay hikes as compared to last year 2008. Indians can expect on an average 10.8% increase in pay along with some other countries like Indonesia, Vietnam, Latin America etc. due to rise in inflation. Pay hikes in Indonesia and Vietnam will be by 9 and 10.6% respectively. About one third portion of companies, located at Asia pacific region will suspend salaries, according to the study. Along with this, about 29% of European companies have also planned to peg incomes this year. In this year 2009, top 10 countries that will face rise in salaries are Venezuela, Argentina, India, Vietnam, Egypt, Indonesia, Russia, Romania, South Africa and Latvia. On the other hand, 10 countries that will freeze salaries are Hong Kong, Singapore, France, Taiwan, Sweden, Switzerland, Canada, Irish Republic and Lithuania.