Corporate India plans to dish out hefty bonuses in 2010
Companies from a wide cross-section of sectors, including automotive, banking, financial and IT are increasingly gearing up to pay bonuses as they plan to retain and attract key talent on the wake of improving market condition. Market leaders like, Fiat, Maruti Suzuki, Infosys, PepsiCo India, EXL Services, Genpact, ICICI Bank and Dabur are looking to pay bonuses, with a host of them offering as much as 150% of the variable pay. For sectors like BPO, FMCG and automobiles, the payouts will be a barometer so as to avoid their rerun to the whirlwind days of last year. Whereas backoffice provider Genpact is expected to limit its annual bonus to about 8% this year, food and beverage giant PepsiCo India is likely to pay around Rs 10 lakh as bonus to a top executive earning up to Rs 50 lakh per annum with IT major Infosys planning to give bonuses in April 2010. On the whole, the prospect is again looking up for corporate India.