Top executives' salary doubles to Rs 2 lakh per month
While the economic downturn may have eaten into the profit margins of most companies with the accompanying decline in employee salaries and job security, it seems that the average senior executives in Indian companies have not been affected by it. In fact their average monthly payout for the last financial year doubled to almost Rs 2 lacs from Rs 1 lac in 2007-08. Over the same period, the number of companies paying an annual remuneration of Rs 1 Crore also went up significantly. While in 2007-08 only one in seven companies met these criteria, the ratio reduced to one in every three companies in the last fiscal year.
While the economic downturn may have eaten into the profit margins of most companies with the accompanying decline in employee salaries and job security, it seems that the average senior executives in Indian companies have not been affected by it. In fact their average monthly payout for the last financial year doubled to almost Rs 2 lacs from Rs 1 lac in 2007-08. Over the same period, the number of companies paying an annual remuneration of Rs 1 Crore also went up significantly. While in 2007-08 only one in seven companies met these criteria, the ratio reduced to one in every three companies in the last fiscal year.
