Money matters: Indian IT companies among world's worst paymasters; four times less than Switzerland

NEW DELHI: Indian IT companies are among the 10 worst paymasters in the world, says a survey, a mid-level IT manager draws an average salary of $ 41,213 while his Swiss counterpart gets over four times more.

According to recruitment platform MyHiringClub.com's Worldwide IT Salary 2015 survey, India was ranked 7th on the list of lowest paymasters for information technology (IT) managers, down by one position from last year's.

While Indian IT managers drew an average salary of $ 41,213, Bulgaria topped the list with a meagre $ 25,680, followed by Vietnam and Thailand averaging at $ 30,938 and $ 34,423, respectively.

"The impact of outsourcing and off-shoring on IT roles in North America and Western Europe helps explain the pattern of global pay," MyHiringClub.com & FlikJobs.com CEO Rajesh Kumar said.

The list includes Indonesia at the fourth spot with average wages of $ 34,780, followed by the Philippines ($ 37,534), India ($ 41,213), China ($ 42,689), Czech Republic ($ 43,219), and Argentina ($ 51,380).

"Lower-level roles are being moved to regions where talent is cheaper. The jobs that remain in Western Europe and the United States may be fewer in number, but are more demanding and complex. However, there is an increasing evidence of India's growing stature and presence in the high-end value chain, where cost advantages may not be the only drivers of future growth," Kumar added.

At the other end of the spectrum, when it comes to countries that pay out the best IT salaries, Switzerland again topped the list with an average annual remuneration of $ 1,71,465. The same job if taken in Belgium, second on the list, would fetch $ 1,52,430, the survey said.

Denmark came in at third on the best-paying list, with salary in the IT sector averaging at $ 1,38,920. The US and the UK were ranked fourth and fifth, respectively, with average packages of $ 1,32,877 and $ 1,29,324, respectively.

"India remains one of the most favourite outsourcing destinations due to this low-cost factor, but the future might bring with itself a completely different scenario," the survey predicted.

The survey compared the total annual cash compensation and total remuneration information of the mid-career level for IT staff at 9,413 companies across 40 different countries between August 1 to August 31, 2015.