Study shows that that companies in the US continue to pay the highest base salaries and annual total cash for finance and marketing directors, with those in India paying the lowest.
India may be reaping the rewards of its economic boom, but when it comes to what it pays senior managers, it is still the bottom of the pile.
The survey - covering pay for finance, marketing and HR directors in 14 countries worldwide - found that finance and marketing directors in America earn five times more than their counterparts in India, while HR directors earn over three times as much.
Mercer's Steve Gross said that salaries and annual total cash are generally higher in the US because there is greater competition for talent and employers must pay more for top employees.
"Factors such as retention costs, availability of skills, and productivity influence market rates and determine what an organization must pay to attract and retain talent in the respective locations," he said.
HR Folks don't miss this in your Comp. Review
HR directors emerged as the lowest paid of the three positions. The best paid HR directors are found in the US, UK, and Germany, where employees can earn US$175,000, US$161,900, and US$160,500 respectively. Annual total cash for this position is highest in Germany, at US$227,500, followed by US$219,000 in the US and US$202,500 in the UK.
Again, employees in this position working in Hungary and India earn significantly less annual base pay than in those in other countries – receiving around US$57,100 and US$47,900 respectively.