Salary hikes announced by Corporate India for the year 2011-12 were between 10 per cent and 19 per cent across all levels indicating that the country's economic growth has had a positive impact on compensation.
In a recent compensation survey by HR consulting firm Deloitte India Human Capital Advisory Services, it was observed that the overall average salary increases and average variable payout across sectors has been about 12.9 per cent and 29.9 per cent, respectively.
Average annual increases hovered around 13 per cent across all sectors with the highest payout being given in the BFSI and the manufacturing sectors.
Typically, increases were spread within the 10 per cent to 19 per cent range for a majority of employees.
Among different levels that received wage hikes, the junior management took home the highest increment at 13.9 per cent, followed by the middle management (13.7 per cent), the senior management at 12.9 per cent and the lowest pay hike received by the top management (11.2 per cent).
Among sectors, the real estate and hospitality provided higher annual increases to their senior management, with a few companies providing in excess of 25 per cent increases across senior and top Management.
Such high increments, in real estate sector, also partially stemmed from the much-awaited market correction across the participant companies, according to the survey that had the participation of 122 companies.
(Source: Business Line, Sept. 14, 2011)
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