Page 5 - Salary Hike

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

Salaries in India to rise 10% in 2023, highest in Asia-Pacific: WTW report

China is projected to see a salary hike of 6%, Vietnam at 8%, Indonesia at 7%, Hong Kong at 4% and Singapore at 4% in 2023

Karnataka employees withdraw strike as govt announces 17% basic salary hike

The employees had demanded interim relief of a 40 per cent increase in basic salary and revision of salaries as per the 7th Pay Commission

Salary hikes in India have now reverted to pre-pandemic level: Mercer

The highest salary hikes are expected in the high-tech industry in 2023, followed by the Software Service Outsourcing (SSO) industry

Half of Indian firms may offer double-digit salary hikes in 2023

Of the 1,400 companies surveyed across 40 industries, 46% of organisations are expected to give double-digit salary increases in 2023

No increments for Flipkart's 4,500 senior personnel this cycle

However, 70 per cent, or 10,500 employees, below the level of a manager, will receive an increment this cycle

Vistara hikes salaries of pilots, cabin crew by 8% as part of appraisal

Full service carrier Vistara will hike salaries of its pilots and cabin crew by up to 8 per cent from April amid deployment of higher capacities to meet rising travel demand, according to a source. The source also claimed that some 30 pilots have quit the airline in the last six months and are serving notice period after getting job offers mainly from the Gulf carriers. On Thursday, a senior Vistara official confirmed the salary hike for the pilots and cabin crew but denied that 30 pilots have left the airline. The official also said the salary hike decision is part of the annual appraisal exercise and not triggered by any other development, adding that some pilots changed their decision to quit in view of the long-term opportunities at the airline, which is to be merged with Air India. The official did not provide any specific details about the number of pilots who quit or are serving the mandatory six-month notice period. Queries sent to Vistara remained unanswered. "Vistara

As layoffs continue, companies may tweak processes to determine appraisals

In the upcoming year, the salary hikes are less likely to be dependent upon seniority

Senior executives in India to see average pay hike of 9.1% in 2023: Study

Senior executives in India are expected to receive an average 9.1 per cent increase in their salaries this year, up from 8.9 per cent in 2022. According to leading global professional services firm Aon plc, the average CEO compensation was Rs 8.4 crore, and it has increased 21 per cent in the last four years, as there is an emphasis on rewarding executives for the value they bring to the organisation. According to Aon's latest Executive Rewards Survey in India, for board and senior managerial positions, one in three organisations are focusing on improving diversity levels. Boards are also embedding environmental, social and governance (ESG) factors, diversity and succession metrics in the long-term and short-term goals for CEOs and executive leaders. Aon's 12th annual study, analysed data across 519 companies from more than 25 industries. "Senior executives' salary increases continue to focus on pay at risk, indicating the emphasis on rewarding executives for the value they bring

Job switches to fetch smaller salary hikes to tech talent, says report

The average salary hike on new jobs has fallen from 54 per cent in July and August to 45 per cent in September and 37 per cent in October

War for talent, inflation spark highest pay hikes since 2007: Study

Overall salary increases in the US will be above 4.2% this year

Cognizant introduces 'two merit cycles' for employees to rein in attrition

Cognizant Technology Solutions has introduced a one-time, 'two merit cycles' for calendar year 2022 (CY22) for its employees to arrest attrition

Soaring inflation set to dent salary hikes for second year: Survey

The worst-hit region is likely to be Europe, where real salaries - nominal wage growth minus the rate of inflation - are seen being driven down an average 1.5 per cent

Pilots, officers apprehensive of SpiceJet's salary hike announcement

Days after SpiceJet announced a salary hike for its pilots, a section of captains and first officers of the airline has expressed apprehension about the implementation of the revised remuneration citing terms and conditions. In a communication to pilots on October 19, SpiceJet said effective November 1, 2022, its captains' salaries will increase to Rs 7 lakh for 80 hours of monthly flying and Rs 6.13 lakh for 70 hours from the current Rs 4.5 lakh-level which was made effective from October 1, 2022. Accordingly, salaries of trainers and senior first officers have also been increased commensurately, the Gurugram-headquartered airline said. The trainers comprise Designated Examiner (DE), Type Ratings Instructor (TRI) and Line Training Captain (LTC). However, a section of pilots alleged that the airline has announced a hike in their remunerations while they are yet to get salaries at par with pre-COVID levels, a claim denied by SpiceJet. On an average, a captain is currently getting .