13
Thursday
December 2018
11:59 PM IST
News Headlines
Aussies will fight back, but India has upper hand: Ghavri        World Tour Finals: Tough road ahead for Sindhu; Sameer too eyes knockout berth        Govt should consider 100% FDI in multi-brand retail trade: CII report        Shaktikanta Das named new RBI Governor        Khashoggi, other journalists named Time 'Person of the Year'        May tours Europe in desperate bid to save Brexit deal        Three policemen killed in Shopian by terrorists; weapons snatched        13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat        Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results        Cong leads in R'than, Chhattisgarh and MP; TRS races ahead in Telangana, MNF in Mizoram        Shakhtar prepare for home match 700 kilometres from home        AC Milan let Inter off the hook with Torino stalemate        Sensex cracks over 550 pts; Nifty drops below 10,600        Trump's potential next chief of staff pick leaving White House        UK PM faces fight for her political life in Brexit deal        BJP mocks Oppn meet, asks them to reveal PM candidate's name        RBI Governor Urjit Patel makes loud noise with silent exit        RLSP chief Upendra Kushwaha resigns from Union council of ministers        1st Test: India in cruise control as Australia reduced to 104/4 chasing 323        Over 16000 runners take part in Pune Half Marathon        
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Business News
Salaries in India may rise 10% in 2019, highest in Apac:Study
 
Mumbai, Oct 4 (PTI) Salaries in the country are projected to increase by 10 per cent in 2019, the highest in the Asia Pacific region, according to a report.

While noting that the salaries had risen by the same quantum in 2018, it attributed the high salary increments compared to other countries in the region to the steady economic growth, progressive reforms and cautious optimism across sectors.

The global advisory, broking and solutions company Willis Towers Watson in its Q3 2018 Salary Budget Planning Report noted that the pharmaceuticals sector has the highest projected salary increase for 2019 at 10.3 per cent.

"The salaries for consumer products and retail sector will remain consistent at 10 per cent owing to the green shoots of recovery in the sector's performance, increasing consumer confidence and purchasing power," it said.

It noted that the financial services sector, mainly comprising Banks, NBFCs and insurance companies, has seen a steady increase from 9.1 per cent in 2017 to 9.6 per cent for 2019, largely due to improved performance, higher premium collections for insurance companies and regulatory reforms.

"MNCs that typically have KPO/BPO or manufacturing operations in India will likely see average salary increases around the 10 per cent mark, as in dollar terms this is not a significant increase to their cost of operations. However, Indian companies will likely see a lower salary increase which is more directly linked to their financial performance," Sambhav Rakyan, data services practice leader, Asia Pacific, Willis Towers Watson said.

The report noted that about 42.6 per cent of the total salary increment budget is being allocated to top or above average performers.

"On average, 17 per cent of the salary increase budget is being allocated to top performers, which represent 13.1 per cent of employees in India. This implies that for each USD 1 allocated to an average or below-average performer, USD 1.31 is allocated to a top performer," it said.

The median salary increase for 2019 at executive level is projected at 9.8 per cent, a marginal increase from 9.7 per cent in the previous year, while for mid management and production/manual labour at 10 per cent, a drop from 10.1 per cent from last year.

On the aspect of variable pay allocation, it projects a decline across levels for 2019, with executive level variable pay declining from 20.7 per cent to 17.4 per cent, mid-management level from 12.6 per cent to 10.2 per cent and production/manual labour from 9.2 per cent to 8.4 per cent.

"The projected variable pay is conservative and a potential reason could be that only 37 per cent respondents have projected a positive business revenue outlook for the next 12 months, as compared to 48 per cent last year.

It has identified technical skilled trade (48 per cent), engineering (45 per cent), IT (39 per cent) and marketing (15 per cent) as the top four areas for recruiting critical functions in the next 12 months.


Govt should consider 100% FDI in multi-brand retail trade: CII report
Shaktikanta Das named new RBI Governor
Sensex cracks over 550 pts; Nifty drops below 10,600
India's coal output up 10% to 156 MT during Apr-Nov
Prabhu links creativity & business opportunities to cheap beverages in Goa
31st GST Council to meet on Dec 22 in Delhi
Cabinet Approves Policy to Double Farm Exports to $60 Billion by 2022
RBI keeps key rates unchanged
NTPC wins 85 MW solar capacity in UP Govt tender
Maintain status on currency management, HC tells SBI
Amway India enters herbal skincare space
New 2018 Maruti Suzuki Ertiga Launched In India, Prices Start At ? 7.44 lakh
Centre's New Move May Escalate Feud With RBI Ahead Of Board Meet: Report
Air India eyes Rs 800 cr from sale of over 70 properties
Intel India opens design house costing Rs 1,100 cr at B'luru
Sensex rebounds 332 pts on easing crude, rupee gains
Govt mulls second round of 2,500 MW medium-term PPA auction
India invites Swedish companies to explore investment opportunities
Govt cancels ED officer Rajeshwar Singh's leave
Facebook blocks 115 accounts ahead of US midterm elections
KERALA NEWS
Activist Rehana Fathima, Who Attempted Sabarimala Trek, Arrested Over Facebook Post
 (Kochi, Nov 28, 2018): Model and activist Rehana Fathima, who tried to reach Kerala's Sabarim  
Good news for Keralite Nurses: IELTS cut-off reduced to 6.5
BJP leader K Surendran, 71 others granted bail
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
INTERNATIONAL NEWS
Khashoggi, other journalists named Time 'Person of the Year'
 New York, Dec 11 (AFP) Saudi journalist Jamal Khashoggi, who was murdered in October at his country'
May tours Europe in desperate bid to save Brexit deal
Trump's potential next chief of staff pick leaving White House
UK PM faces fight for her political life in Brexit deal
NATIONAL NEWS
Three policemen killed in Shopian by terrorists; weapons snatched
 Three policemen were killed Tuesday when Pakistan-based Jaish-e-Mohammed terrorists attacked a guard
13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat
Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results
BJP mocks Oppn meet, asks them to reveal PM candidate's name
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