Indian Cos Offer 9.8 percent Pay Hikes To Top Executives: Survey

Tuesday, 24 September 2013, 13:45 Hrs
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Bangalore: Marking the highest annual pay hikes worldwide, Indian companies doled out as much as 9.8 percent increase in salaries this year even though average executive compensation remained lower than many other countries, says a report.

The substantial hike in executive pay by Indian companies comes even as corporates are grappling with uncertain global economic conditions and sluggish growth prospects.

The latest findings by executive search firm Pedersen & Partners show that Indian companies gave 9.8 percent annual salary hikes.

Going by the study, top executive compensation is currently increasing by 7-10 percent on average in emerging markets and between 4 percent and 5 percent on average in Western countries.

However, in absolute terms, the findings reveal that the average compensation of top executive in India is much lower than other nations.

India is followed by South Africa at the second place, where top executives pay package has risen by 8.8 percent, China (6.8percent), the UK (4.4percent) and other western European countries (4.1percent) and four percent each in the U.S.and Germany.

Globally, average executive compensation is still the highest in the U.S. and Western European countries.



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Source: PTI
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