AVERAGE SALARY PACKAGE
Flood of IPOs brings sackful of bonuses to I-Bankers’ accounts
Indian investment bankers receive generous bonuses despite a soft M&A market. Top performers at local I-banks like Kotak and Axis Capital see bonuses increase by 150-200%. Average bonuses rise by 10-25% as companies focus on talent retention. IPO activity drives record equity indices and compensation levels for MDs range from ₹3-9 crore.
NIT Mizoram achieves impressive placement record for 2023-2024 academic session with 86.7% overall placement
NIT Mizoram posted an 86.7% placement rate for 2023-2024, with the highest salary package at 14.5 LPA and an average over 7 LPA. Over 75 companies, including Adobe, Deloitte, Vedanta, and Mahindra & Mahindra, recruited students. Among the students, Shristi Sharma and Nishant Nitin Mishra, who secured four job offers, praised the Training and Placement Office. Internships, part of the curriculum, involved 100% student participation with organizations like SAIL, Indian Railways, and Google, offering stipends between ₹5,000 to ₹20,000 per month.
Salary structure in more than 40% of Indian companies is tax inefficient: Study
The study, based on an email survey sent to more than 16,000 executives working across the departments of human resources, finance and administration, elicited responses from 97 companies across sectors.
ITC staff earning over a crore increases to 350 in FY24
The number of ITC employees earning over Rs 1 crore increased by 24.11 per cent in FY24 compared to the previous year, reaching a total of 350. Net remuneration of top executives, including Chairman Sanjiv Puri, saw significant jumps. The company's annual report also highlighted its increased expenditure on employee benefits, expansion into various sectors, and establishment of new factories and hotels in recent years.
Pay gap shrinks: Will BTech grads stay MBA course?
A Deloitte survey revealed a significant narrowing of starting salaries between MBA and BTech graduates in India. The pay gap has reduced to 57% in 2024 from 102% in 2021, potentially impacting the appeal of costly management courses for BTech graduates.
IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
- Go To Page 1
Here's how much an average Meta employee earned in 2023; Mark Zuckerberg's compensation revealed too
Meta's median employee earned a staggering $379,000 in 2023, with CEO Mark Zuckerberg noting a total compensation of $24.4 million. Despite receiving a nominal salary of $1 since 2013, Zuckerberg's wealth has soared by over $47 billion this year alone. The tech giant's net profit rose to $12.4 billion in the first quarter of 2024, with total revenue up by 27 percent at $36.5 billion.
Economy is on strong footing then why such low salaries for IITians?
With companies scaling back on hiring and offering lower salary packages, IIT students at the tail-end – those that haven’t been placed yet – are being offered annual packages below Rs 10L
Momo seller offers Rs 25,000 salary for helper, social media users say it's paying better than TCS
Securing a job fresh out of college can be a daunting task for many. Often, the reality of entry-level pay hits hard, leaving individuals seeking opportunities that align with their financial needs. However, amidst the challenges, a unique employment offer has surfaced, catching the attention of job seekers across social media platforms.
IIT degree doesn't guarantee crores: IIT-Roorkee alumni and IFS officer gives a reality check, busts placement myths
The reality of IIT placements, revealed by IFS officer Gaurav Garg, showcases a wide salary range from ₹6-35 lakh, with CSE and ECE graduates receiving higher offers. Global companies like Google and Facebook offer crores, but salary packages can be complex, often resulting in lower in-hand pay. IIT Bombay struggled this year, with 36% of students failing to secure jobs, reflecting challenges in a volatile economic climate.
Tax-saving ideas: How to restructure your salary to reduce income tax outgo by more than Rs 1 lakh
Taxpayers can reduce their tax significantly by reformatting their salary. If companies restructure their compensation packages by replacing taxable emoluments with some tax-free perks, they can lower the tax liability of their employees. There are several such tax-exempt allowances, including food coupons and reimbursement of expenses on fuel and travel, newspapers and periodicals, phone and Internet. The taxable portions of the salary, such as the special allowance, can be reduced to make place for the tax-exempt allowance. Find out how to go about it.
9.6% average salary increase for India Inc in 2024: EY Future of Pay 2024 report
The second edition of EY's 'Future of Pay 2024' report predicts that India Inc will witness an average salary increase of 9.6% in 2024, similar to last year. Overall attrition fell to 18.3% in 2023, and it is expected to gradually decline further as companies prioritize cost management and employee well-being.
Seven in 10 Indian employees believe they are underpaid: Report
Seven in 10 employees in India believe they are underpaid. Salary is considered the most important aspect of a job. Organizations plan to improve payroll accuracy, timeliness, data security, and privacy. Employee wellbeing, including financial health and wealth creation, is a top priority. Employers are embracing AI in payroll management and exploring alternative compensation methods.
India leads in salary growth projections in APAC; these sectors will give higher hikes this year
Aon's Annual Salary Increase and Turnover Survey 2023-24 India reveals unchanged attrition rates and a softening of mass talent demand. Companies must adapt to changing demand patterns and focus on talent mobility, creativity, resilience, agility, talent supply, experience, learning, flexible models, health benefits, and freelance composition.
What's stopping rivals from lining up to pick up Paytm's talent pool
Competitors and other startups are eyeing talent within Paytm amid its current challenges. However, the company's reputation for offering salaries well above industry norms means that many potential candidates are being priced out of the talent market. Industry insiders and executives from recruitment services and search firms have noted that Paytm's generous compensation packages are difficult for other companies to match.
Global capability centres shell out premium to hire top talent
The MNCs are also moving an increasing number of global and senior-level roles to the GCCs in India. This is prompting them to woo top talent by paying higher than the compensation offered by many in the technology industry including products, services and tech-enabled startups (barring a handful of large IT firms), they said.
GCCs pay premium to hire top talent
This is giving the GCCs a clear edge in wooing top leadership talent vis-à-vis the others in the tech cohort. At GCCs, professionals with 18-25 years of experience get Rs 1.6-2.0 crore for the CTO role, Rs 1.5-2.0 crore for the CFO and Rs 1.5-1.8 crore for the chief HR officer. Packages vary based on the pedigree of talent, size and stage of the company and the criticality of the role.
SP Jain sees five-fold increase in average salary offered to GMBA students in 2023 placement
The salaries offered to students of the MGB Class of 2023 also saw a seven-fold jump, with the top package touching Rs 48.8 lakh. The average salary offered by recruiters was Rs 19.83 lakh, a 21% increase from the previous year, according to the statement.
IIT-Bombay placement: 22 students, not 85 get crore-plus package, IIT clarifies
The Indian Institute of Technology-Bombay (IIT-B) has issued a correction regarding the data on crore-plus offers in its placement office's earlier press note. In the first phase of placements, 22 students have secured annual pay packages of Rs 1 crore or more, with three being domestic and 19 international.
2023 Year In Review: quick commerce was lapped up by the urban public, but has a long way to go
While executives in the industry said that the public demand for quick commerce had been established, especially in urban and high-population-density areas, the key task in 2024 would be to improve profitability and experiment with various categories as well as sale events.
SPJIMR’s Class of 2024 gets Rs 33 lakh average package
The median salary of the students of post graduate diploma in management (PGDM) and PGDM (Business Management) is also similar to last year at Rs 31.2 lakh per annum.
Class of 2024: The job roles that promise big paydays for freshers next year
Having an idea about pay packages can help students decide on the kind of money they would get to live on if they pick up certain jobs. It can also help them decide if they can afford to relocate to another city, and plan how to live away from parents on such salaries.
Cash-strapped Pakistan secures USD 655 ADB package
The ADB approved a financing package for Pakistan under three different loans. Among other components, these include USD 300 million for improving domestic resource mobilisation; USD 275 million for rehabilitating schools damaged by the devastating August 2022 floods; and USD 80 million for enhancing agricultural productivity to improve food security, according to an announcement by the ADB on Wednesday.
Masters’ Union places 2023 PGP cohort at average salary of Rs 34.07 lakh
Masters' Union, a Gurgaon-based business school, has seen an average package of Rs 34.07 lakh for its PGP (MBA) Cohort of 2023, with 137 companies participating in the recruitment drive. The top 25% of the batch received an average package of Rs 44.67 lakh, while the bottom 25% received an average package of Rs 22.35 lakh.
Income tax: How can you save Rs 1.23 lakh tax with car lease finance as part of your salary?
As your salary grows the avenues of saving income tax shrinks. However, car lease finance is an option that works better with higher salary as it gives you an opportunity to own a car and save a substantial amount of income tax. We tell you how this tax saving option works and what all you need to check before going for this option.
Frequent job switches light up CFO salaries
Chief financial officers (CFOs) are changing jobs more frequently as companies seek experienced CFOs to ensure financial stability, meet accounting and regulatory norms, rationalize costs, and raise funds in a volatile business environment. This high turnover has also led to an increase in CFO compensation, with some CFOs earning salaries closer to those of CEOs.
Expat pay packages jump in Singapore, drop in Hong Kong
The top spot was retained by the UK, where the average package — comprising salary, tax and benefits such as accommodation, international schooling and utilities — amounted to $441,608, though salary only made up 18% of the total.
Top offer and average salaries rise for Class of 2023 at IIM Indore
IIM Indore's final placement season for the class of 2023 saw a 132.6% rise in the highest domestic package offered at INR 1.14 crores. The average salary increased by 20.8% over last year to INR 30.21 lakh per annum, with a median compensation of INR 27.20 lakh per annum, a 12.9% rise.
Decoding the pandora’s box of pay hike in edtech
Pay hikes in 2023 in India are expected to be the highest globally, with real-term hikes (adjusted for inflation) likely to take place. Top increments are expected to be in the range of 15-30%, while the average hikes are expected to be around 9 -12% (according to varying sources). While this is the general average across industries, some industries are expected to perform better than others.
Load More
