The new TDP government will have to mop up over Rs 10,000 crore to fulfill the financial requirements for July, a retired senior bureaucrat said.
Salary hike isn't enough anymore, it's time for stock options, promise of deferred entrepreneurship and much more.
The country's second-largest software services company, which has trailed peers Tata Consultancy Services and Cognizant on growth, is also looking at weeding out non-performers to improve efficiency.
Pai argued that at a time when the salary for entry level software engineers had not been raised in the IT industry in India for the past seven years, it was totally wrong to hike the compensation for top-level executives.
The Indian IT industry recorded 25.2 per cent employee attrition in FY22 and that pain will continue as it loses talent to other industries, said a report by TeamLease. The attrition in the contract staffing industry is predicted to touch at least 50 per cent in FY23 compared to 49 per cent in FY22, said the report called 'Brain Drain: Tackling the great talent exodus in IT sector'. Company policies, payment and work flexibility is making talent move, as non-technology firms step up demand. "Tech talent in non-tech companies will see 3X growth in the coming years, opening up approx 1 million new tech jobs by 2025.
This was largely due to continued economic growth despite high energy prices, civil conflict and high inflationary pressures in Sri Lanka, the survey said. India was ranked at the top in last year's survey with a salary hike of 14.4 per cent. In this year's survey, Vietnam was ranked third with a hike of 10.3 per cent, followed by China (8.6 per cent) and Philippines (8.2 per cent).
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
Given the sharp differences that the Democratic and Republican lawmakers and the White House has on various aspects of immigration reform including H-1B, the Congressional passage of the bill and its becoming a law as of now appears to be a tall order.
In 2010, those armed with an MBA degree and one-two years of work experience got the highest salary hikes
From salary hikes to training and induction, here's how employers fib with fresh hires in a job interview.
Infosys usually gives a wage rise to employees every April.
Like other food and grocery chains, Birla Retail is aggressively pushing its private labels and large packs to woo customers. Besides offering value, private labels push retailers' margins.
IndiGo has restored annual increments for more than 4,500 pilots as a financial turnaround helped the airline make a profit in Q3 FY23 after three quarters of loss. An email from the airline's management last week informed pilots of the restoration from April. "The component of annual increment for Indian captains (Rs 10,000 per month) and Indian first officers (Rs 5,000 per month) on the Airbus and ATR fleet which was stopped due to Covid will restart from April 1, 2023," the airline's senior vice president (flight operations) Ashim Mitra said in the staff email.
The pay panel had in November recommended 14.27 per cent hike in basic pay at junior levels.
In a stringent set of executive pay disclosure norms, the government on Friday proposed to make it mandatory for listed companies to give their rationale behind salaries and hikes given to top management personnel vis-?-vis the business performance.
'Markets are factoring in a good show by India Inc in Q2.'
With hotels and restaurants being barred from levying service charge, waiters, chefs and other workers are worried they will lose out on money and are planning to approach managements to seek a pay raise. They are also apprehensive that tips given by customers out of goodwill will dwindle. Uttarakhand-native Prakash Singh Koranga, 27, a chef who works at an outlet of popular franchise Moti Mahal Deluxe restaurant in south Delhi, said service charge which gets proportionally divided among the staff acts as an "extra income" and "incentive to give our best at the job".
While the average CPI hovers at 10 per cent for five years now, our tax benefits are almost a decade old.
A former employee from the IT industry rants about what's wrong with the sector and offers his lessons to cope with layoffs.
After announcing a cut in the employees' salaries, IT major TCS has asked 500 employees to quit their jobs after a performance appraisal.
For Paris-headquartered IT services major Capgemini, India has always been the backbone of its services delivery for its global clients, but the company is focused on driving more value from India as it gears up its engineering research and development (R&D) presence worldwide with its acquisition of Altran Technologies. The company, which has about 149,000 employees in India, is looking to hire 60,000 associates this year. Of them, 30,000 will be recruits from campuses and the rest lateral entrants. For Ashwin Yardi, chief executive officer India, Capgemini, the focus is to make sure that the India unit is aligned with the global plans of repositioning the company as a hub of engineering R&D, operational technology, and IT.
However, RIL's total outgo towards remuneration to its all top management personnel, as also the sitting fees and commissions for its non-executive directors, increased during the fiscal year ended March 31, 2012.
Rajesh Srivastava from Greater Noida shares his suggestions.
Do you think the tax exemption limits should be raised? Or should income tax rates be reduced? Tell us what you think.
rediffGURU Nayagam PP counsels students and aspiring professionals on how to pick the right courses and scale up in your career.
Basic salary of legislators will rise from current Rs 12,000 to Rs 50,000 and overall monthly package will be around Rs 2.1 lakh as against Rs 88,000 at present.
As per the bill, the salary and allowances of legislators have been raised from Rs 55,000 to Rs 1,05,000 per month, an increase of 90.91 per cent.
The common Indian is already under pressure from rising inflation, investments giving poor returns and lower salary hikes too!
While the Delhi government announced that schools will not be allowed to hike fees during the lockdown period and only tuition fee will have to be paid, Maharashtra has said parents can lodge complaints with district education officers if schools demanded fees. The Gujarat government had on Monday announced that private schools will not hike fees for an year. The West Bengal government has appealed to schools to refrain from hiking fees.
Though you may have been given a good hike (say 20 per cent), the actual take-home salary would increase by less than 10 per cent.
Indians are projected to see a 12 per cent rise in salaries in 2012.
Over 8.5 lakh employees, majorly from public sector banks (PSBs), will get a 15 per cent hike in pay, with the conclusion of the 11th Bipartite Wage Negotiations on Wednesday. After three years of intense negotiations, the UFBU, which represents four bank officer associations and five workman unions, and the IBA on July 22 entered into a memorandum of understanding (MoU) for an annual wage hike of 15 per cent.
The company has told its employees that there won't be wage hikes for the financial year ending July 31, 2009, due to tight demand in the US and Europe, declining volumes and the need to further tighten expenses across business divisions. In a harsher step, the company has slashed retainer bonus, which averages 10 per cent of an employee's salary, from April 1. Travel allowance has been sharply reduced, if not curbed, in most cases.
Of the three options, which is the one that the salaried class wants most out of Union Budget 2019?
Facing an embarrassing recall petition, Indian-American Governor of Louisiana Bobby Jindal has vetoed a bill that would have more than doubled the salaries of legislators, correcting his earlier 'mistake'.
Bharti Airtel reported a 47 per cent year-on-year rise in consolidated revenues at Rs 15,215 crore (Rs 152.15 billion) in the September quarter.
Employers in India have no choice but to pay high salaries to their staff, with industrial growth demanding more manpower.
The BCCI is working towards redrafting the salary structure of the Test players in such a way that they get an additional reward apart from the annual retainer contract if they feature in all Test series in the year.
