Annual base salaries in India across levels are the lowest in the Asia Pacific region, says a survey.
Willis Towers Watson today also said that China's base salaries across all job grades are higher than in India by 64-100 per cent.
The annual base salaries in India are the "lowest in the Asia Pacific (APAC) region and significantly lower than China", it said.
Also Read
The findings are based on a survey that covered over 5,500 companies in the APAC region and around 313 firms from India participated.
In the APAC region, entry-level salaries for white-collar professionals are among the lowest in India and the Philippines at an average annual base salary of around USD 11,000. Their peers in China receive almost twice as much, THE survey said.
"At approximately USD 66,000, India offers the lowest average annual base salary across the region, which is almost half that of China," it added.
In terms of highest paying countries, Australia tops at entry and mid-management levels while Singapore is on top when it comes to senior and top management positions.
"China salaries are notably higher across levels as compared to India - 81 per cent higher at entry-level, 84 per cent at mid-level, double at senior level and 64 per cent at top management level," it noted.
Sambhav Rakyan, Data Services Practice Leader, Asia Pacific at Willis Towers Watson said that a young and tech-savvy workforce as well as comparatively lower salaries, especially at the entry level, augur well for India's quest to emerge as a top manufacturing destination.
These factors, combined with a focus on skilling, could give India an advantage in comparison to China, where an ageing population and shrinking workforce mean salaries would remain higher, he added.
Willis Towers Watson offers global advisory, broking and solutions.
The average CEO salary at the Sensex companies stood at
about Rs 9.9 crore in 2013-14, before rising to nearly Rs 14 crore in 2014-15. It was lower at Rs 8.5 crore in 2012-13.
For the latest fiscal, RIL's Mukesh Ambani got Rs 15 crore as its Chairman and Managing Director, while Gautam Adani was paid Rs 2.8 crore in the same role at Adani Ports and SEZ.
At Adani Ports, Whole Time Director Malay Mahadevia was paid Rs 10.7 crore, while the company said that Karan Adani, who was appointed CEO with effect from January 1, 2016, did not draw any remuneration for the year.
At Bajaj Auto, Chairman Rahul Bajaj was paid Rs 11.3 crore, while son Rajiv Bajaj got Rs 22.32 crore as its MD. Vice Chairman Madhur Bajaj was paid Rs 8.5 crore.
In case of Tata Motors, the newly appointed CEO and MD Guenter Butschek was paid Rs 5.04 crore for the one-and-half-month period that he served during the fiscal ended March 31, 2016. His remuneration for period starting February 15, 2016 till March 31 next has been pegged by the company at Rs 27.24 crore.
At M&M, chief Anand Mahindra was paid Rs 6.58 crore, while Executive Director Pawan Goenka got Rs 11.6 crore (a significant part of which came from exercise of stock options). HUL CEO Sanjiv Mehta's total remuneration was Rs 13.87 crore.
Engineering and construction conglomerate L&T paid S N Subrahmanyan, who has been named as Naik's successor, Rs 22.12 crore, while K Venkatramanan, who retired during the last fiscal, got Rs 43.3 crore.
Among other Sensex companies, Asian Paints CEO K B S Anand got Rs 7.7 crore (up 27 per cent), while Dr Reddy's Chairman K Satish Reddy was paid Rs 8.8 crore and CEO G V Prasad got Rs 11.9 crore.
Tata Steel's MD T V Narendran got Rs 7.3 crore, while Whole Time Director and CFO Kaushik Chatterjee got Rs 7.4 crore.
The total remuneration of Lupin's Vice Chairman Kamal Sharma was Rs 25.7 crore, as against Chairman D B Gupta's Rs 44.8 crore.
TCS's N Chandrasekaran got total remuneration of Rs 25.6 crore, while the same for ITC's Y C Deveshwar was Rs 15.15 crore.
At Wipro, Chairman Azim Premji got Rs 2.17 crore, while the same for his son and Chief Strategy Officer Rishad was little lower at Rs 2.15 crore. Vice Chairman and former CEO T K Kurien got Rs 13.66 crore, while the new CEO Abidali Neemuchwala got Rs 11.96 crore.
In case of Bharti Airtel, Chairman Sunil Mittal's total remuneration was Rs 27.8 crore, while that of MD and CEO (India and South Asia) Gopal Vittal was Rs 10.4 crore.
