It is boom time for news television employees.
With the impending launch of at least five news channels -- two from the NDTV stable and one each from TV Today, Star India and Sahara -- in April this year, the salaries of people in different categories of television news business have hit the roof.
Producers, anchors, reporters and editors who have job-hopped in the last three months, claim to have got between 40 and 100 per cent jumps in their take-home package.
In several categories such as anchors and editors, the increase in remuneration is closer to 70 to 100 per cent.
Take, for example, associate producers at Hindi news channel Aaj Tak. The segment that earned Rs 20,000 to 24,000 per month at TV Today, has been wooed by either rival Star News or NDTV for Rs 38,000 to Rs 40,000.
Senior producers earning up to Rs 35,000 per month now take home Rs 55,000.
"Star has always been a good employer. Their pay structure has always been competitive. Now, with increased competition, salaries are bound to go up," says Star's Mumbai-based spokesperson.
Star has not only offered improved packages to experienced television staff, it has also recruited print media journalists who have jumped on the wagon for much better salaries, claims the Star official.
However, many in the industry observe that NDTV is currently the best pay master offering salaries better than those at all other news channels.
For instance, a senior producer at Star earning Rs 55,000 (compared to Rs 35,000 at Aaj Tak) is now being lured by NDTV for a Rs 75,000-package.
In fact, many known faces at Aaj Tak have also moved to NDTV with substantial hike in salaries.
An anchor earning Rs 45,000 at Aaj Tak has been picked up by NDTV for Rs 75,000 while its sports editor recruited by the Prannoy Roy-promoted company will get Rs 85,000.
"It is an employees' market after a long time. Since the new players need to launch news operations, experienced television staff is commanding a high price," says a senior producer at Star India's proposed news channel.
In an industry going through major changes, among the television companies that have been worst affected by the churn are Aaj Tak and Sahara. At least 50 people have quit Aaj Tak for greener pastures.
Speaking to Business Standard earlier, TV Today's chief executive officer, G Krishnan had predicted that rivals would poach on Aaj Tak because of the high quality manpower available with the news channel.
However, he added that the new channels are offering highly inflated salaries that are not sustainable in the long run.
"The cost of operating a news channel is very high. Since salary is a fixed cost, such huge increase is not viable," said Krishnan.
Meanwhile, Star India has been fast off the blocks. It is busy training the nearly 200 professionals it has already recruited both from other news channels as well as the print media.
Editors, cameramen and producers from Sky News, Fox News and Star TV's Hong Kong office are holding day-long classes for the company's news channel employees in Mumbai as well as in Delhi.
