Salary Packages

Salary level in certain sectors are expected to be restored to the pre-pandemic mark by the end of this financial year aided by the recovery in economic activities, according to TeamLease HRTech CEO Sumit Sabharwal said. Hit by the pandemic, organisations across sectors resorted to pay cuts and layoffs to reduce their labour costs, Sabharwal told PTI. "After analysis of data from our client base, we found that the workers in the formal sector witnessed a 3.6 per cent wage cut while informal workers experienced a much sharper fall at 22.6 per cent. The pandemic has shown us the importance of the format sector in the economy," he noted. He said, as normalcy returned and the economy gradually recovered companies began giving increments that helped in narrowing the salary gap to the 2019 level. However, there is still a little gap of around 7-14 per cent from the 2019 wage level in certain sectors. "We expect the recovery to reach the 2019 level by the end of this financial year," he .

It is on average equivalent to 130 days of gross wages per completed year of service, firm says

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The airline has made changes to its HR policies to reinstate the work pattern of crew under which they will earn more, but there will be fewer leaves

The institute has successfully completed the final placements of 572 participating candidates from the two-year flagship Post Graduate Program (PGP) and the five-year Integrated Program in Management

Experienced practitioners may graduate to zero-based budgeting, a more evolved and detailed approach.

This is a tad higher than last year's top figure; no international offers made second year on the trot

The average salary package offered to students at IIT in Guwahati during campus placement has increased as against the previous year, despite challenges posed by the Covid-19 pandemic

Her salary of 421.2 million pounds from the closely held British firm makes her one of the world's best-paid bosses

For staff, which is eligible for variable performance for financial year 2020-21, payments will be made in May

Quantum of hikes also set to improve, as 61% are planning increments of 5-10% as compared to only 4.5% in 2020

If your basic and DA have been cut, total amount will be adversely impacted

The MHA had passed an order on March 29 asking all employers to make payment of wages to their workers without any deduction for the period their establishments were under closure during the lockdown.

For different income levels, there are different break-even deduction points. If you can avail of higher deductions than that, stick to the old regime

Several slash pays by up to 40% for May

The entities have requested the state government to act as guarantor for soft loans or facilitate collateral-free loans

"The government lacks the fiscal space. It will not be feasible to give grants to the industry to take care of its wage bills," sources said.

As the economy continues to falter, salaries in India are projected to rise 10 per cent in 2020, says a report. In 2019, the effective wage increase was 9.9 per cent which is projected to touch 10 per cent next year. While salary increases are stabilising around the 10 per cent mark, they remain the highest in the Asia Pacific region, according to the Salary Budget Planning report released by Willis Towers Watson. Indonesia is projected at 8 per cent, China at 6.5 per cent, Philippines at 6 per cent, Hong Kong and Singapore both at 4 per cent. "Though salary increases in India continue to be among the highest in the region, companies are taking a cautious approach and do not intend to make any significant changes from previous years," Willis Towers Watson India consulting leader (talent & rewards), Rajul Mathur, said. Companies are beginning to make selective skill-based compensation adjustments to cater to requirements around automation and digitisation, he ...

Japan tops the list with average expatriate pay package provided by companies to mid-level employees at $386,451 a year

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