{"id":174513,"date":"2024-11-14T04:04:20","date_gmt":"2024-11-14T04:04:20","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/14\/wage-growth-slows-but-not-for-senior-executives-times-of-india\/"},"modified":"2024-11-14T04:04:20","modified_gmt":"2024-11-14T04:04:20","slug":"wage-growth-slows-but-not-for-senior-executives-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/14\/wage-growth-slows-but-not-for-senior-executives-times-of-india\/","title":{"rendered":"Wage growth slows, but not for senior executives &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"225\" src=\"https:\/\/i0.wp.com\/static.toiimg.com\/thumb\/msid-115268236,imgsize-1585614,width-400,resizemode-4\/115268236.jpg?fit=400,225&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Wage growth slows, but not for senior executives &#8211; Times of India\" title=\"Wage growth slows, but not for senior executives &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<p>BENGALURU: Industrial and automation companies showed diverse salary structures, with several firms offering compensation packages at the conservative end of the spectrum. <!-- -->Salary hikes<!-- --> in industrial and automation sectors show wide disparity amid economic pressures.<br \/>During the 2023-24 financial year, some firms experienced an even more pronounced decline in wage increases. Whilst employees received minimal raises, senior executives at certain organisations continued to receive substantially higher compensation compared to their workforce. The situation remained challenging at other firms as well, with modest increments being the norm.<br \/>At <!-- -->Bosch India<!-- -->, employees got a meagre 0.6% hike in FY24, while managerial personnel got an average increment of 10.5%. On the contrary, Guruprasad Mudlapur, president of Bosch Group in India, got a 15.5% hike during the same period, taking home over Rs 3 crore.<\/p>\n<div data-pos=\"0\" class=\"id-r-component QbQNS undefined  &#10;        \">\n<div><img decoding=\"async\" alt=\"Retaining top talent?\" msid=\"115268211\" width=\"600\" title=\"\" placeholdersrc=\"https:\/\/static.toiimg.com\/photo\/83033472.cms\" imgsize=\"23456\" resizemode=\"4\" offsetvertical=\"0\" placeholdermsid=\"\" type=\"thumb\" class=\"\" src=\"https:\/\/static.toiimg.com\/thumb\/imgsize-23456,msid-115268211,width-600,resizemode-4\/115268211.jpg\" data-api-prerender=\"true\"\/><\/div>\n<\/div>\n<p>The company has over 5,000 employees in India. Engineering services company Honeywell Automation India\u2019s annual report showed employees salaries dropped 0.8% in FY24, but key managerial personnel received an 8% increment. Its India MD, Ashish Gaikwad\u2019s remuneration increased by 12% to Rs 63.7 crore. At Cummins India, its MD Ashwath Ram\u2019s compensation reached Rs 6.2 crore following a 20% merit increase plus a 10% market adjustment in FY24. Its employees received an average 12.4% increase.<br \/>3M India presented a different scenario, with its MD Ramesh Ramadurai\u2019s increment matching other employees. Schneider Electric Infrastructure provided average salary increases of 10.3% in 2023-24. \u201cProduct companies need capital-intensive investments, which can sometimes influence their salary budgets differently from service firms,\u201d Sachin Alug, CEO of talent solutions firm NLB Services, said.<br \/>Krishna Vij, Teamlease digital\u2019s business head of IT staffing, said increases in salaries of key management personnel reflect a <!-- -->talent retention strategy<!-- -->.<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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Salary hikes in industrial and automation sectors show wide disparity amid economic pressures.During the 2023-24 financial year, some firms experienced an even more pronounced decline in wage increases. Whilst employees received minimal raises, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":174514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-115268236,imgsize-1585614,width-400,resizemode-4\/115268236.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[136309,136308,289,136307,10651,569,273,5386,136306,10650,136305,10912,136304,272,19363,136303],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/174513"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=174513"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/174513\/revisions"}],"predecessor-version":[{"id":174515,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/174513\/revisions\/174515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/174514"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=174513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=174513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=174513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}