Global management consultancy Hay Group released the annual compensation report which says that the corporate employees across India are expected to get a slightly higher average salary hike of 11.3% across roles this year, compared to an actual average salary increase of 10.9% in 2014.
- clerical and operational,
- supervisory and junior professionals,
- middle management and seasoned professionals, and
- senior management and executives
These are the four major job roles. Across all four employee levels, the increments range between 10.6- 11.9%.
The actual paid out variable pay stood at 12.7% across sectors and levels. Oil and gas sector remained at the top at 15.4% for 2014, followed by FMCG at 14.5% and chemicals at 14.4%. While salary increases would be lower at higher levels, the proportion of variable pay (as a percentage of total CTC) has been ascending across the management ladder, weighing in at 10.7% at the junior level, 13.5% for the middle manager, and 18.1% for senior management.
Courtesy: The Economic Times.
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