Page 5 - Salary Hike

Indian cos may give 9.8% salary raise in 2024: Willis Tower Watson report

Companies in India are expected to give a salary raise of 9.8 per cent in 2024, slightly lower than the actual salary increase of 10 per cent in 2023, as companies across industries are still closely monitoring their cost structures, says a survey. According to Willis Tower Watson's latest 'Salary Budget Planning India Report', the median salary increase in India is forecast to rise by 9.8 per cent in 2024, close to the actual salary increase of 10 per cent in 2023. The survey was conducted in April and May 2023. Approximately 32,512 sets of responses were received from companies across 150 countries worldwide. The survey had 708 participants from India. In Asia Pacific, 7,372 organisations from 22 markets responded. Being an emerging market, salary increases in India continue to be the highest across Asia Pacific (APAC). The 2024 salary increase for Vietnam is projected at 8 per cent, followed by China at 6 per cent, Philippines at 5.7 per cent and Thailand at 5 per cent. "Compani

Salary hikes of major IT companies take a back seat amid weak demand

Accenture for instance will not be providing salary hikes to its employees in India and Sri Lanka this year, except in critical skill areas and where it is legally mandated

Accenture skips pay hikes and promotions in India and Sri Lanka this year

The US-based IT firm has cited challenging macro environment and slower growth than was initially planned as reasons for skipping pay hikes during the company's financial year (September to August)

Wipro to roll out merit salary increases, effective by December 1

Wipro delayed the announcement by a quarter reportedly due to macro headwinds and margin pressure

Infosys to begin fresh appraisal cycle; last year hikes still pending

Citing macroeconomic conditions, many IT companies have opted to hand out small increment or defer salary hikes this year

IT sector companies defer hikes, lower increments amid slow growth

Wipro has postponed salary hikes, while Infosys and HCL opt not to implement raises

19,000 patwaris in Madhya Pradesh go on strike seeking higher pay, perks

Some 19,000 revenue department staffers called patwaris on Monday went on an indefinite strike seeking hike in salary and perks. These patwaris oversee land mutation and caste certificate issuance processes. "We returned our bags (having measuring tapes and land records) at the collectorates in the state between 11 am and 2 pm and went on strike. We protested in the tehsil headquarters barring Agar Malwa district, which was observing a local holiday," MP Patwari Sangh president Upendra Singh Baghel told PTI over phone from Sidhi district. "Our pay scale has not been hiked for the last 25 years. The requisite to become patwaris in the revenue department is graduation now. We are getting a pay scale of Rs 2100, we want it to be hiked to Rs 2800," he said. "Even the Class XII pass staffers are getting Rs 2800 in different departments of MP. We have to work for 52 departments, including revenue. Besides pay scale hike, we are demanding time pay scale and time bound promotion," he ...

NDMC clears proposals for 7th Pay Commission, Gole Market restoration

The New Delhi Municipal Council (NDMC) in a meeting on Wednesday approved various proposals, including grant of Seventh Central Pay Commission (CPC) pay scales to its employees and restoration of the Main Gole Market building as a museum, officials said. The council's meeting was attended by Union Minister Meenakashi Lekhi, NDMC chairperson Amit Yadav, vice chairperson Satish Upadhyay, council member Kuljeet Singh Chahal among others. Addressing a press conference after the meeting, Upadhyay said the redevelopment plan of the Gole Market has been approved and the main building there will be turned into a museum with an aim to make it a tourist site. "We passed the redevelopment plan of the Gole Market after today's council meeting. We are also planning to turn the main building into a museum which can be a tourist attraction. The theme is yet to be decided. We have also decided to end the disparity in salary of guest teachers and consultants," the NDMC vice chairperson said. Speaki

Indian startups give salary hike of 8-12% in FY23, favour ESOPs: Study

Stock offer key component in increments for senior leadership roles, it says

62% corporate employees get salary hikes, small cities do better: Study

19% executives in leadership positions receive increments in the 5-10 per cent range

Infosys, HCLTech put off pay hikes for employees; TCS bucks trend

Infosys typically rolls out hikes for its senior management in July, but so far, they have not received any communication on the matter, the report said

Ajit Agarkar likely to become BCCI chief selector; board to hike salary

The position has been vacant since former chief selector Chetan Sharma resigned in February

Indian firms dole out double-digit hikes, most employees satisfied

A fraction of employees surveyed even got hikes up to 20-25 per cent for their exceptional performance

Coal Ministry nod to hike in wage of Coal India non-executive employees

The Coal Ministry has said it approved a wage revision agreement that was reached with trade unions for non-executive employees of Coal India Limited. The agreement provides for a 19 per cent of minimum guaranteed benefit from July 1, 2021, on emoluments - basic, Variable Dearness Allowance (VDA), Special Dearness Allowance (SDA) and attendance bonus besides a 25 per cent increase in allowances. In a communication to Coal India, the ministry said, "The MoA (memorandum of agreement) for NCWA-XI as signed by Coal India Limited, Singareni Collieries Company Limited and trade union representatives, has been confirmed." The agreement was reached in May by the Joint Bipartite Committee for the Coal Industry (JBCCI)-XI consisting of representatives of CIL management, Singareni Collieries Company Limited (SCCL), five central trade unions - BMS, HMS, AITUC, CITU and Indian National Mine Workers' Federation (INMF). The agreement will benefit around 2.81 lakh employees of CIL & SCCL who ...

TCS defies tech-sector inertia: Top execs see salary hikes in FY23

Rajesh Gopinathan, who stepped down from the role of CEO and MD of TCS, saw his total remuneration go up 13.17 per cent for 2022-23 (FY23)

SpiceJet hikes salaries for captain pilots to Rs 7.5 lakh per month

Budget carrier SpiceJet on Tuesday announced hiking the salary for its captains to Rs 7.5 lakh per month for 75 hours of flying as well as introduced a tenure-linked loyalty reward for them. Salaries of trainers and first officers have also been increased commensurately, according to a release. "Salary of captains has been increased to Rs 7.5 lakh-a-month for 75 hours of flying. The hike will be applicable from May 16, 2023," the airline, which completed 18 years of operations on Tuesday, said. The airline had revised salaries for its pilots in November 2022 wherein the salary of captains was raised to Rs 7 lakh-a-month for 80 hours of flying. A tenure-linked monthly loyalty reward for its captains of up to Rs 1,00,000 per month has also been announced. This amount will be over and above their monthly remuneration, the release said. Details about the number of pilots at the airline could not be immediately ascertained. In recent times, there have been delay in payment of salaries

Average salary in e-commerce, tech start-ups at a five-year low: Report

The average salary in the hospitality sector also fell to a five-year low in FY22: TeamLease report

Average stipend pay outs hiked by 2% in India in FY23, Chennai leads

"Employers are willing to pay higher stipends than industry mandates as they see the value of investing in apprentices to bridge the skill crisis and create a sustainable talent supply chain"

Microsoft to skip salary hikes for full-time employees this year: Report

CEO Satya Nadella cited economic conditions and an investment in artificial intelligence as he informed employees about the change

India to see avg salary hikes of 10.2% in 2023, biggest in e-commerce: EY

Average salary hikes in India will be lower in 2023 compared to 2022, says EY's 'Future of Pay 2023' report. E-commerce, professional services and IT to the biggest hikes