Wage bill of listed pvt. companies up 17% at Rs 11.5 trn in FY23: Report

The rising trajectory of private corporate wage bill appears structural, having grown from around 9 per cent of GDP in FY12 to around 13 per cent in FY22

The aggregate wage bill of the listed private corporates expanded by 17 per cent to hit Rs 11.5 trillion in fiscal 2022-23 (FY23) driven by non-bank finance companies (NBFC), private bank, information technology (IT), consumer discretionary, industrial and auto sectors, suggests a recent report by ICICI Securities.

In FY22, the aggregate wage bill, or 'compensation of employees' (CoE), of the entire private corporate space in the economy grew 21 per cent YoY to reach Rs 30 trillion, the report said. This overtook the public sector wage bill (around Rs 28 trillion) for the first time as per