Salaries at Indian Software Companies Jumped 54% in 1H; Overall Salaries Rose 22%
However rising corporate profits seem to dwarf the record salary levels. The pre-tax profits of 1,900 listed companies in India increased 36% in the first half, while their salary bill rose by 21.94%. Salaries as a percentage of sales also declined from 7.04% in the first half of 2005-06 to 6.66% in first half of 2006-07.
Corporate Salary Increases
|Sector||Salary Rise H1 2006-07|
|Private Sector banks||48%|
|Media and entertainment||40.5%|
|Public sector banks||4%|
Salaries in fast growing service industries like information technology, telecommunications, media, private banks and airlines rose between 30% and 50% in the first half.
Software services companies reported a 54% increase in salaries. These companies have increased their payrolls by over 150,000 in the last 18 months.