India Tops The List Of Women Seeking A Salary Hike, Surpassing US, UK, and Canada, Study Reveals
Leaving developed countries like the US, UK, and Canada behind, India has emerged as the leading country where women are most frequently asking for salary hikes. This surge comes at a time when job markets, not only in India but globally, are experiencing a downturn.
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Women in India more optimistic in career, finds study
According to a 2024 study by job listings site Indeed, 65 percent of Indian women professionals reported having asked for a salary hike in the past.?
This figure is higher than in many developed countries.?
Nishita Lalvani, marketing director for India and Southeast Asia at Indeed, told CNBC Make It, "Female respondents in India were consistently more optimistic than their global counterparts."
Following India, 51 percent of women in the US, and 50 percent in France and Germany, reported asking for pay raises. In Canada and the UK, the figures were 47 percent and 45 percent, respectively.
Indian women also expressed greater satisfaction with their employers' efforts to close the gender wage gap.
In contrast, women in Japan and Singapore were the least confident in requesting salary raises, with only 13 percent in Japan and 32 percent in Singapore having done so.
Furthermore, 90 percent of Indian women identified pay as the most important aspect of their jobs, surpassing the global average of 82 percent across 11 countries.
Why is the global job market facing a slump?
Two major economies, Japan and the UK, have recently slipped into recession. These worldwide economic challenges have also affected India. According to an IANS report from December, India's tech companies have laid off over 36,000 employees in the past two years.
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Experts attribute the impact of these global economic factors to reduced hiring and lower wages.
In March of this year, BITS Pilani garnered attention when its management reached out to its extensive alumni network to aid in campus recruitment.
"The global economy is facing its most significant downturn in decades," the letter stated. "The technology sector has been especially hard hit, with approximately 400,000 employees laid off worldwide since January 2022. This global uncertainty has led to a funding freeze, resulting in cost-cutting measures across businesses of all sizes. Hiring has been affected at all levels, including at the campus level."
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