The study, carried out by, highlights that mid to senior level staff in India in the field of IT get an average salary of $38,767 per annum as compared to $168,211 in Switzerland. Second to China in terms of population, India is one of the most sought after country when it comes to outsourcing yet it has been placed 8th in the list of 10 worst IT paymasters globally.

The study encompassed IT staff in more than 6,000 companies across 40 different countries in August and found that Indian IT managers were better off compared to their Chinese counterparts.

India’s economy, when it comes to IT, is dependent on volatility in the US as well as Europe. Following the crisis of 2008, the salaries of IT personnel has more or less stagnated. The year 2011 saw India stand 7th in a similar study for mid to senior level staff. At that time the average salary was $36,120 per annum. Switzerland had topped the charts during 2011 as well.

When it comes to best paying countries, Belgium bagged the second position with an average salary of $144,980; Denmark was placed third with $136,542; US stood fourth with an average salary of $128,632 and UK was pegged fifth with $127,890.