Salary Packages

'Salary in certain sectors to reach pre-pandemic level by fiscal-end'

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 .

Ford India offers final severance package for Chennai unit employees

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

How can we solve India Inc's high CEO pay problem?

There is a yawning chasm between CXO salaries and those of the other employees. Companies are expected to maintain a reasonable CEO-to-worker pay ratio. But are they doing it? Let us find out

IndiGo hikes pilot salaries by a further 8%, restores overtime allowance

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

IIM Indore student offered Rs 49 lakh annual package to work in India

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

'Save first, spend the rest': A budgeting approach that's easy to follow

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

IIM-A's 2021 PGPX placements attract highest package of Rs 82 lakh a year

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

IIT-Guwahati: Average package in campus placements higher than last year

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

UK's richest woman gets $648 million in salary from betting empire

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

Vistara plans to roll back salary cut for select staff categories from Apr

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

Nearly 90% companies planning salary hikes in 2021: Aon India Survey

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

The bigger impact of cuts in basic salary: Your gratuity may take a hit

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

Employers not paying full salary must present balance sheet in court: Govt

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.

Re-evaluate the tax regime you've chosen if your salary has changed

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

Covid-19 impact: Firms try to save jobs and their future through pay cuts

Several slash pays by up to 40% for May

Odisha start-ups seek relief package from CM to survive Covid-19 impact

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

Govt unlikely to grant any package for industry to pay workers' salaries

"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.

India to see 10% salary increase in 2020, highest in Asia Pacific: Report

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 ...

Surprise! India has the third highest expat salary packages in Asia

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

Average salary offer at IIM Shillong jumps 8.3% to Rs 16.79 lakh

Top offers comes from Cognizant, Deloitte USI, ICICI Bank, JP Morgan & Chase and Tata Steel; Consulting & Strategy most sought-after domain