News: Salary cut? Power sector does the opposite during recession

Compensation & Benefits

Salary cut? Power sector does the opposite during recession

At a time when top level managers in sectors like Healthcare and Pharma are facing salary cuts, their counterparts in Power along with Banking and IT sectors are being showered with increased pay. According to a report published in the Sunday Edition of the Economic Times, Power was the best rewarding sector in the financial year 09, even as banking and IT, shed their victim status and recovered enough to be offering hikes to their top management. Giving statistics, it states that the salaries of top employees in power sector increased by an average of about 78% during FY09 which can be attributed largely to the entry of private conglomerates into the business over the past few years.

At a time when top level managers in sectors like Healthcare and Pharma are facing salary cuts, their counterparts in Power along with Banking and IT sectors are being showered with increased pay. According to a report published in the Sunday Edition of the Economic Times, Power was the best rewarding sector in the financial year 09, even as banking and IT, shed their victim status and recovered enough to be offering hikes to their top management. Giving statistics, it states that the salaries of top employees in power sector increased by an average of about 78% during FY09 which can be attributed largely to the entry of private conglomerates into the business over the past few years.

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Topics: Compensation & Benefits, #Updates, #TotalRewards

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