With business optimism building up after Covid-19 and talent in short supply in corporate India after 'the great resignation', executive salaries are expected to increase nearly nine per cent this year, according to a survey by Aon.
The largest and most comprehensive salary trends survey of its kind in India, the Executive Rewards Survey, by the leading global professional services firm, also found that the average compensation of a CEO in corporate India has now crossed Rs 7 crore.
The increase in salaries of senior executives is much higher than that of last year. In 2021 while it was 7.9 per cent, this year it is nearly nine per cent.
“In the wake of Covid-19 pandemic, talent is in short supply and the cost of attracting, retaining and engaging leadership talent that grows business is rising rapidly,” said Nitin Sethi, partner and CEO (India for Human Capital Solutions) at Aon. “Not only is the average executive compensation increase highest in five years, but variable pay and equity grants have also risen as companies cannot risk losing key talent at senior levels as this has implications on delivering business performance.”
The Aon survey analysed data across 475 companies from more than 20 industry sectors across the country.
