Indian financial directors poorly paid

By agencies   |   Thursday, 30 March 2006, 08:00 Hrs
Printer Print Email Email
MUMBAI: India, Inc. is still behind the global leaders when it comes to compensating its top brass. The latest survey by Mercer Human Resource Consulting, covering pay for finance, marketing and HR directors in 14 countries worldwide, found that finance and marketing directors in the U.S. earn more than five times their counterparts in India, while HR directors earn over three times as much.

The research, which is part of Mercer’s 2006 Global Pay Summary which provides base salary and total cash compensation for 50 job positions in 50 countries worldwide, found the U.S. to be overall leaders when it comes to base salaries and total cash compensation. The benchmark data is used by multinational organizations to set pay levels for employees globally.

Steve Gross, Global Leader of Broad-based Rewards at Mercer says that salaries and annual total cash are generally higher in the U.S. because there is greater competition for talent and employers must pay more for top employees.

U.S. based finance directors are the highest paid, earning $250,000 on average, followed by those in Canada and the U.K. who receive around $186,400 and $180,300 respectively. Their counterparts in Hong Kong, Italy and Germany also earn above-average base pay, at $168,500, $159,000 and $154,400. India brought up the rear in the 14th position.

Annual total cash for finance directors follows the same pattern as base pay. U.S. based finance directors are the highest paid, earning annual total cash of $324,600 on average, followed by those in Canada and the U.K. who receive approximately $262,700 and $236,600, respectively.

At the lower end, Finance directors in Hungary and India receive less than average for this position – earning a base salary of approximately $59,800 and $53,800. Average base pay for this role in Poland is $108,200.

Base pay for marketing directors, on the other hand, ranges between $203,100 in the U.S. and $40,000 in India. Marketing directors in the U.S. are followed by those in Italy and the U.K. who are paid around $169,100 and $167,800.

Marketing directors in the U.S. also receive the most annual total cash, followed by those in the U.K., Germany, and Italy.

Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..