Only six per cent of the respondents expected no change in recruitment activity.
Over 16 lakh employees working in over 240 central public sector undertakings can soon hope for a salary windfall, with the second Pay Revision Committee for PSUs expected to submit its report by this month end.The report of the sixth pay panel, which recommended an average hike of about 28 per cent to the Central government employees, is under government consideration.
HR firm Hewitt Associates, however, estimates average salaries in India rose 15.2 across sectors for 2008-09 in line with the increases last year (15.1 per cent) and better than the year before (14.4 per cent) despite slowdown in many sectors. At 15.5 per cent, salaries of people in junior management (up to seven years) rose the fastest, followed by middle management (seven to 12 years) at 15.2 per cent, senior management (12 years+) at 14.5 per cent.
Parliamentarians will have to wait for some more time to get a fatter pay packet as the Union Cabinet on Thursday decided to leave the proposal to the next Lok Sabha. The proposal, coming close on the heels of the report of the Sixth Pay Commission for Central government employees, was aimed at amending the salary, allowances and pensions of MPs Act 1954, and paving the way for establishing a permanent mechanism for the purpose.
Salaries in India are expected to increase by 9.5 per cent in 2024, slightly lower than the actual increase of 9.7 per cent in 2023, largely in response to market dynamics, according to global professional services firm Aon plc. According to the firm's annual salary increase and turnover survey 2023-24 India, that analysed data across 1,414 companies from almost 45 industries, salary increase in India seems to have stabilised at high single digits, after the post-pandemic high increments in 2022. "The projected increase in salaries in the Indian formal sector indicates a strategic adjustment in response to the evolving economic landscape.
The announcement of a deferral is expected to be part of Finance Minister Arun Jaitley's Budget speech on February 29.
In 2016, one in two companies is planning to increase head count with hi-tech, shared services and life sciences leading the pack
Indian information technology (IT) service providers are expected to deliver low single-digit sequential growth in the first quarter (April-June) of 2025-26 (FY26), even as macroeconomic uncertainties continue to persist due to the volatile geopolitical environment.
Giving in to demands from Anganwadi workers, the government on Monday said it will double their remuneration while a special development fund for women self-help groups was also announced as part of its initiatives for the fair sex.
'Always ensure that lease terms are clearly written in the agreement, including rent escalation clauses and notice periods.'
The move comes following the implementation of the 7th Pay Commission's recommendations which has created an anomalous situation in which the salary of the President is Rs 1 lakh less than that of the country's top-most bureaucrat, the Cabinet secretary.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
Companies in India are expected to dole out an average increment of 7.3 per cent to employees this year amid faster-than-expected economic recovery and revival in business and consumer confidence, according to a survey. The first phase of the 2021 Workforce and Increment Trends Survey by Deloitte Touche Tohmatsu India LLP (DTTILLP) also said the average increment this year will be higher than 4.4 per cent seen in 2020 but lower than 8.6 per cent given by companies in 2019. As many as 92 per cent companies that participated in the survey plan to give an increment in 2021 compared to only 60 per cent last year.
Not just in the IT sector, Capgemini is probably the only company, in India, which has offered salary increments.
Infosys commits to hiring 20,000 graduates amid industry-wide layoffs and uncertainty.
Indian companies are expected to dole out an average increment of 9.1 per cent in 2022, higher than the pre-COVID-19 increment in 2019, as companies are focusing on retention of talent through rewards. According to the 2022 Workforce and Increments Trends Survey by Deloitte Touche Tohmatsu India LLP, the average India 2022 increment is expected to go up to 9.1 per cent from eight per cent in 2021. Moreover, the 2022 projected increment is higher than the pre-COVID-19 increment in 2019 by 50 basis points (bps).
India Inc is expected to witness an average eight per cent salary increase this year and as much as 50 per cent of companies have strong hiring plans for the next three months.
The company's IT services segment had a headcount of 158,217.
If you have recently had a salary hike and a corresponding increase in your tax outgo then you must seek your company's co-operation to structure a tax-friendly salary.
BCCI's vice-president Rajiv Shukla said the Indian cricket team's new jersey sponsor will be finalised in the next two to three weeks.
rediffGURU Shekhar Kumar, senior manager, talent acquisition, at the Shri Venkateshwara University in Gajraula, Uttar Pradesh, offers career advice on how to optimise your skills, build your network and make the most of your workplace.
Nasscom on Monday said the US clarification that the H-1B visa fee hike will not affect current visa holders and will apply as a one-time fee only to fresh petitions has helped address the immediate ambiguity surrounding eligibility and timelines.
The recession taught Indians value of money. So how to manage/use the salary hikes in an effective way so that it brings a fruitful return? Is it the time to splurge or go slow? Or is it prudent to continue with the austerity measures that one discovered during the lean time?
In the medium term, corporates and vendors could move away from visa dependency, shift more work offshore and share higher cost burdens with clients.
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.
Despite the recent slowdown, e-commerce tops the projected average salary hike list
Snapdeal had rolled out a hike of 16 per cent and above for its top performers.
The projected increase for 2020 is lower than the average salary hike that graduates of top business schools have managed - at around 12 per cent.
The Delhi Assembly on Monday passed bills pertaining to over 66 per cent hike in salaries and allowances of its members who are among the lowest-paid lawmakers in the country.
While Infosys said it would give an average rise of eight per cent to its employees in India, Wipro has announced an increment of six-eight per cent.
Experts say Indian Railways must grow its share in the freight market to remain financially sustainable.
On the heels of a three fold-jump in allowances paid to MPs last week,the Union Cabinet decided on Monday to further increase allowances of MPs by Rs.10,000 a month.
Salary hike is fine but govt must reduce support staff to get its math right.
'New announcements are made every day which brings tremendous amount of instability and uncertainty.' 'Relying on America has become a big problem.'
The highest pay hikes for the current year are set to come from Maruti Suzuki and Hero Honda.
Sectors like infrastructure could see average salary hike of as high as 16 per cent, but the increments could be lower at 5 per cent in a few segments like aviation and textiles.
In sops for the middle class, Finance Minister Nirmala Sitharaman on Tuesday hiked standard deduction by 50 per cent to Rs 75,000 and tweaked tax slabs under the new income tax regime to provide more money in the hands of salaried class with a view to boost consumption. She said salaried employees in the new tax regime could save up to Rs 17,500 in income tax annually following the changes announced in the Budget. The standard deduction for salaried employees is proposed to be increased from Rs 50,000 to Rs 75,000 annually.
Last year, salary increases were given only in October, when the company came under pressure from increments offered by peers.
Rajeev Chandrashekhar, who is the only lawmaker to reject the salary hike, communicated to the prime minister that he would not reconsider his decision until the government re-examines the issue of One Rank One Pension.
