Page 6 - Salary Hike

Top headlines: Hikes, bonuses come down for IT firms, GACs in IT rules

The crazy salary hikes and bonuses with attrition hitting the roof is finally tempering down for the Indian IT services sector. Read more in our top headlines

Salary hikes and bonuses start to come down for Indian IT services sector

FY24 hikes will stay at lower levels than the spike seen in FY22 and 23

CEOs of Indian companies get nearly 4% compensation hike in FY22

According to members of nomination and pay committees of several blue-chip corporations, there is a growing trend of linking CEO salaries to results and performance

'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 .

Double-digit salary hikes return as Aon survey pegs 10.4% for 2023

Study also found actual hikes in 2022 were 10.6% as against its previous projections of 9.9% in Feb 2022, the highest since 2012

Top headlines: Rupee at new low; Unilever CEO to quit end of next year

From rupee touching a new low to Unilever CEO quitting by end of next year; here are the top headlines this evening

Indian workforce to get average salary hike of 10.4% in 2023: Report

Despite global macroeconomic conditions and rising inflation, salaries in India are likely to increase by 10.4 per cent on average in 2023, compared to an actual increase of 10.6 per cent in 2022

SpiceJet says will hike salaries of senior pilots by 20% from October

The carrier earlier this week sent 80 pilots on leave without pay for three months to save costs

TCS changes its hike structure, does away with anniversary hikes

The changes come at a time when the industry is seeing demand constraints from its majority market and budgets are under pressure and deals are taking time to close

Attrition to remain high as millennials demand better pay, promotion: PwC

Most employees in India may not return to offices yet and are more inclined towards the remote and hybrid work model, shows PwC survey

Indian employees likely to see bigger salary hike in 2023, says report

Some of the sectors which have been included in the survey are- financial services, banking, and technology, media and gaming

Firms in India expected to give 10% hike in 2023; highest in APAC: Report

Companies in India are expected to give a salary hike of 10 per cent in 2023 as they struggle with rising attrition in the tight labour market, according to a report

Salaries of top managers rise as occupancy in hospitality sector improves

The remuneration of directors of hotel companies, like IHCL and EIH Ltd, has seen a rise between 8 and 250 per cent in FY22 year-on-year (YoY)

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

L&T CEO Subrahmanyan gets 115% jump in salary in FY22 as business grows

Total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows

Employees may have to wait longer for new wage code rules to kick in

The changes under the new wage code can only be implemented across the country once the centre receives draft guidelines from all the states and UTs

IndiGo hikes pilot salaries by a further 8%, restores overtime allowance

The airline has made changes to its HR policies to reinstate the work pattern of crew under which they will earn more, but there will be fewer leaves

Delhi Assembly passes Bill to increase salaries, allowances of its members

The AAP government has increased the salary of its MLAs from Rs 12,000 to Rs 30,000 per month

Hiring CEOs becoming difficult after huge pay hike in FY22, says new report

Infosys CEO Salil Parekh saw his total pay jump by 43% to Rs 71.02 crore, the company's annual report showed

Delhi Assembly's monsoon session to begin soon; Money bill to be tabled

The two-day Monsoon session of the Delhi Assembly will be held on July 4 and 5, in which the AAP govt is likely to table a Bill for hike in the salaries of MLAs