Page 2 - Salaries

Chinese workers witness biggest decline in hiring salaries on record

It's also the third straight quarter of decline, the longest run since data on yearly changes were first available in 2016

Social security benefits for salaried employees shrinking post pandemic

Workers in rural areas, women hit harder

Lenders prefer salaried individuals with steady income for personal loans

While more than 25% of salaried borrowers have an excellent credit score of 770 and above, only 14% of self-employed consumers have such strong credit score profiles

Dunzo defers employee salaries for June and July yet again to November

The startup had previously deferred the June and July salaries of over 50 per cent of its workforce of 1,000 to the first week of September

Kerala HC raps state govt over delay in disbursing salaries to KSRTC staff

The Kerala High Court on Monday criticised the state government over delay in disbursing salaries to the state-run corporation KSRTC staff, especially during the ongoing festive season of Onam, and directed it to make provisions for Rs 30 crore before August 24, when it will conduct further hearing on the matter. Justice Devan Ramachandran, in his order, said delay in payments can only lead to "unnecessary strife and controversy" within the ranks of the KSRTC. "It is rather intriguing that the Government is unable to inform this court of any alternative for the KSRTC apart from the monthly assistance being given to them by them; but still delays payment until the end of the month," the order said. Justice Ramachandran said while the entire state was in celebratory mode for Onam, the court "certainly cannot countenance" that the employees of KSRTC, especially its drivers and conductors, are without salary for July, 2023. The court said it failed to understand why the government ...

Expat Salaries in Saudi Arabia are highest in world, says ECA survey

A fresh study by consultancy ECA International has discovered that expat salaries are the highest in this Middle Eastern nation

Number of crorepati employees at ITC, HUL, United Spirits up nearly 25% YoY

At ITC, the number of crorepati employees jumped by 36 per cent year-on-year to 257 in FY23 from 189 in the previous year. In HUL, 205 managers earned more than Rs 1 crore in annual salary in FY23

Microsoft to skip pay raises for salaried employees, including seniors

Microsoft will still offer salaried employees bonuses and stock awards, according to the report

Despite troubles, salaries in India may increase by 10.3% in 2023: Survey

Salaries in India are expected to increase by 10.3 per cent in 2023, highest among major world economies and Asian peers, according to Aon plc. In 2022, salaries in India witnessed an actual increase of 10.6 per cent in 2022. As per Aon plc's 28th Annual Salary Increase Survey in India, double-digit salary growth will continue in India despite economic volatility, largely as a response to high attrition rates. At 21.4 per cent, the attrition rate in India for 2022 remained high a consequence of an ever-changing talent strategy and the ongoing gap between supply and demand of talent. "With back-to-back double-digit increments, India Inc continues to be bullish on talent despite fears of global macro-economic uncertainty. "Organisations are increasingly prioritizing their spends towards top performances, key talent and high potential talent," said Pritish Gandhi, Aon Director & India Practice Leader, Executive Compensation & Governance. The study, that analyzed data across ...

India Inc likely to see 9.8% hike in salary in 2023, finds survey

The survey that covered 818 organisations with more than 800,000 incumbents noted that salaries are set to increase by 9.8 per cent in India in 2023

'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 .

BS Number Wise: Old scheme puts burden of employee pension on the states

Some governments are seeking short-term benefits to finance their bills, risking their financial security

SpiceJet delays salaries 2nd month in a row, payments in 'graded format'

SpiceJet employees on Wednesday alleged delay in the disbursal of salaries for the second straight month, with the budget airline saying the payments were being made in a "graded format". There was a delay in disbursal of salary for staff, including flight crew, for the month of July and many are yet to get the Form 16 for the financial year 2021-22 as well, SpiceJet employees claimed. "The salary disbursal was timely for June. Also, the salaries are yet to match the pre-COVID-19 levels. The salaries being disbursed to captains and first officers are not even 50 per cent of what they used to be before the pandemic outbreak in March 2020," an employee told PTI. However, SpiceJet claimed it has started salary disbursal in a "graded format". "We have started crediting salaries from today. Like the previous month, salary will be credited in a graded format," the airline said in a statement to PTI. In an internal communication Wednesday, the SpiceJet's Human Resources team informed ...

Air India to restore staff salaries to pre-Covid level from Sept 1

Air India will restore salaries that were cut in the wake of the coronavirus pandemic from September 1, according to a communication. The loss-making airline, which was taken over by Tatas in January this year, has also decided to revise crew layover allowances and meal arrangements from September 1. In the communication to the employees, Air India CEO and Managing Director Campbell Wilson said the airline "will be restoring the salary reduction for all employees with effect from September 1, 2022". While the airline has much to do to return to profitability, "sunsetting most of the COVID measures is an important and welcome milestone", he said. The coronavirus pandemic had significantly impacted the airline industry, and the operators had resorted to cost-cutting measures, including salary reductions, to manage their financials.

Workplace recognition, not salary tops job seekers' mind in India

When it comes to job search, employees are no longer fixated on the take-home amount and look beyond monetary payouts, according to a report

Number wise: Hike in MLA salaries outstripped growth in common man's income

Delhi lawmakers just gave themselves a salary hike, joining counterparts in widening the gap with their voters' income

IndiGo says in constant dialogue with employees to take care of grievances

The airline's statement comes after a sizeable number of the airline's aircraft maintenance technicians went on sick leave to protest against their low salaries and demand restoration of salaries

Earning Rs 25,000 monthly puts one in India's top 10%: Inequality report

Salaried employees who file income taxes are relatively better off, says study that recommends an urban employment scheme.

IT companies may not follow HCL Technologies on freshers' salary

Though HCL Tech has bit the bullet, industry majors, which too are battling high attrition, have not given any such signal, so far.

Salary increments in India to touch 5-yr high of 9.9% in 2022: Aon survey

According to leading global professional services firm Aon's 26th Salary Increase Survey in India, organizations across industries project a 9.9% salary increase in 2022, compared to 9.3% in 2021