Across the world, there is usually a difference in the number of zeroes on the pay cheques of top bosses and the staff. Due to a more-than-average raise in the salaries, combined with annual and festival bonuses, employees across the world are getting paid more.
In 2017, top officials in companies across India earned as much as Rs 9.8 crores, due to an average raise of 12.1 percent.
India 2nd After US in Terms of Salary Difference
According to a Bloomberg report, India is the second country after the United States of America (US) to have a large difference in the salaries of CEOs and the staff.
After an average raise of 8.5 percent, employees across India earned an approximate Rs 5,65,748. Top officials in companies usually enjoy perks and bonuses, leading to an average raise more than that of the junior employees.
According to the report, top officials across Indian companies enjoyed perks and bonuses ranging from 40 percent to 83 percent other than their salaries.
Boom in Private Sector?
According to a survey by Aon, employees across privates sector in India got a raise of at least 9.3 percent in 2017. In 2018, private sector employees can expect a raise of at least 9.4 percent in their average salaries. The top performers of the company can expect a raise up to 15.4 percent.
In 2016, employees got an average raise of 12.9 percent. This figure is expected to drop to 10.4 percent in 2018.
The Information Technology (IT) companies can expect a raise of 9.5 percent in 2018. The third party ITO companies can expect a raise of 6.2 percent.
(The story was first published on Hindi Quint with inputs from Bloomberg)
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