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SALARY & EMPLOYMENT FORECAST

INDIA 2013/14

CONTENTS

2

SALARY & EMPLOYMENT FORECAST 2013/14

Finance

Welcome 3

Market Overview 4

Market Analysis 5

Human Resources 20

Finance & Accounting 7

Sales & Marketing 13

Banking & Financial Services 29

Contact Us 39

Michael Page is a worldwide leader in specialist recruitment. Through our belief in organic growth, rather than by mergers or acquisitions, we have built a truly global business with over 5,000 people in 153 offices across 34 countries worldwide. We have evolved to become one of the best known and most respected recruitment consultancies in the world and are proud to set the standard within our profession for

delivering a specialist service with a personal touch. Coming from all major industry sectors, our clients range from market leading multinationals to small and medium sized enterprises.

The Michael Page Salary & Employment Forecast combines both quantitative and qualitative research derived from our national survey of employers and our extensive involvement in the professional labor market. This year, our survey comprises 420 employers and 1600 middle and senior level job seekers within our specialist disciplines.

Our annual forecast covers a range of issues and trends relevant to today’s corporate sector and establishes the Salary & Employment Forecast as a highly reputable report, based on in–depth national research.

The Salary & Employment Forecast provides employers and job seekers with useful insights into the hiring expectations, recruitment challenges

and wage forecasts of hiring managers over the coming year, and covers four areas of specialisation as detailed below:

• Finance & Accounting

• Sales & Marketing

• Human Resources

• Banking & Financial Services

I wish to thank everyone who contributed to this year’s Salary & Employment Forecast and trust you will find the new report helpful and informative. We welcome your feedback and encourage you to contact us for further information or market specific advice at www.michaelpage.co.in/contact–us.

Best regards,

Sebastien Hampartzoumian Senior Managing Director, India

WELCOME TO THE MICHAEL PAGE SALARY &EMPLOYEMENT FORECAST FOR 2013/14

3


Finance

WELCOME

The employment market in India has rebounded in the aftermath of the global economic downturn. Job growth is occurring across most sectors and the employment outlook for 2013- 2014 is encouraging.

Our annual employment survey reveals 58% of employers anticipate an increase in staff numbers over the next 12 months. Some 36% believe their staffing levels will remain stable while only 6% anticipate a reduction in headcount. This positive outlook in recruitment has been driven by global companies looking at India as a core growth market given the ongoing uncertainties in the US and European economies. India is regarded as a logical business hub with a well qualified young workforce and the required infrastructure to support international business activities.

With regards to demand for talent, we forecast an increase in demand at the middle management level across all sectors. A steady volume of recruitment at junior and graduate level roles is also expected in the coming year. Furthermore, certain specialist skill sets currently limited in the existing talent pool are also in demand. If the economy continues to strengthen over the next 12 months, companies will continue to increase their focus on the retention of top performers.

The services sector in particular is forecast to see robust growth with a solid demand for professionals with strong domestic experience. This is spurred by continuing growth within the healthcare and life sciences sector as well as an expected acceleration in the growth of retail as the

government relaxes entry restrictions for foreign players in this sector.

With the continued entry of new foreign players into India along with the growth of existing organisations within India, experienced professionals across all functions continue to be in demand. Middle to senior level professionals can expect salary increases between 10% to 20% while bonuses may increase up to 20%. As talent attraction and retention becomes a key focus for employers, providing employees with the right mix of training and development to drive career growth has become a priority. Employers that offer these opportunities along with the right cultural fit and expected salary levels will therefore be highly sought after.

The recruitment market in India however, remains relatively immature, with most of the hiring activity conducted through in-house recruitment teams and internal referrals. However, a shift towards specialist recruitment partners has been observed due to the requirements for specialist skill sets and an increasing shortage of supply of strong middle to senior professionals with both the technical expertise as well as the cultural fit.

MARKET OVERVIEW

4


Finance

Career Growth

Training & Development

Work Life Balance

Compensation

39%

17%

23%

15%

Other 7%

More than 30%

20 - 30%

10 - 20%

Less than 10%

3%

49%

10%

33%

No appraisal 5%

Increase (58%)

Decrease (6%)

Stable (36%)

Mid-level (51%)

Junior-level (21%)

Graduate (9%)

Not hiring (9%)

Senior-level (8%)

Top management (2%)

Title & profile 55%

56%

Work culture 22%

18%

Brand 16%

18%

Compensation 7%

8%

Others 12%

11%

Work life balance 18%

13%

Support from management 13%

15%

Lack of career growth 57%

61%

Compensation 11%

10%

Female

Male

Female

Male

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 20%

32%

Less than 10% 29%

28%

No change 22%

21%

Decrease 7%

6%

Senior-Level

Mid-Level

Career Growth


Work Life Balance

Compensation

39%

17%

23%

15%

Other 7%

More than 30%

20 - 30%

10 - 20%

Less than 10%

3%

49%

10%

33%

No appraisal 5%

Increase (58%)

Decrease (6%)

Stable (36%)

Mid-level (51%)

Junior-level (21%)

Graduate (9%)

Not hiring (9%)

Senior-level (8%)

Top management (2%)

Title & profile 55%

56%

Work culture 22%

18%

Brand 16%

18%

Compensation 7%

8%

Others 12%

11%


13%


15%


61%

Compensation 11%

10%

Female

Male

Female

Male

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 20%

32%

Less than 10% 29%

28%

No change 22%

21%

Decrease 7%

6%

Senior-Level

Mid-Level

Average percentage salary increase Hiring focus by level of experience

Change in bonus levels in %

Career Growth


Work Life Balance

Compensation

39%

17%

23%

15%

Other 7%

More than 30%

20 - 30%

10 - 20%

Less than 10%

3%

49%

10%

33%

No appraisal 5%

Increase (58%)

Decrease (6%)

Stable (36%)

Mid-level (51%)

Junior-level (21%)

Graduate (9%)

Not hiring (9%)

Senior-level (8%)

Top management (2%)

Title & profile 55%

56%

Work culture 22%

18%

Brand 16%

18%

Compensation 7%

8%

Others 12%

11%


13%


15%


61%

Compensation 11%

10%

Female

Male

Female

Male

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 20%

32%

Less than 10% 29%

28%

No change 22%

21%

Decrease 7%

6%

Senior-Level

Mid-Level

Career Growth


Work Life Balance

Compensation

39%

17%

23%

15%

Other 7%

More than 30%

20 - 30%

10 - 20%

Less than 10%

3%

49%

10%

33%

No appraisal 5%

Increase (58%)

Decrease (6%)

Stable (36%)

Mid-level (51%)

Junior-level (21%)

Graduate (9%)

Not hiring (9%)

Senior-level (8%)

Top management (2%)

Title & profile 55%

56%

Work culture 22%

18%

Brand 16%

18%

Compensation 7%

8%

Others 12%

11%


13%


15%


61%

Compensation 11%

10%

Female

Male

Female

Male

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 20%

32%

Less than 10% 29%

28%

No change 22%

21%

Decrease 7%

6%

Senior-Level

Mid-Level

Key retention strategies over the next 12 months Predicted staff numbers for the next 12 months

Career Growth


Work Life Balance

Compensation

39%

17%

23%

15%

Other 7%

More than 30%

20 - 30%

10 - 20%

Less than 10%

3%

49%

10%

33%

No appraisal 5%

Increase (58%)

Decrease (6%)

Stable (36%)

Mid-level (51%)

Junior-level (21%)

Graduate (9%)

Not hiring (9%)

Senior-level (8%)

Top management (2%)

Title & profile 55%

56%

Work culture 22%

18%

Brand 16%

18%

Compensation 7%

8%

Others 12%

11%


13%


15%


61%

Compensation 11%

10%

Female

Male

Female

Male

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 20%

32%

Less than 10% 29%

28%

No change 22%

21%

Decrease 7%

6%

Senior-Level

Mid-Level

MARKET ANALYSIS

5


Finance

Career Growth


Work Life Balance

Compensation

39%

17%

23%

15%

Other 7%

More than 30%

20 - 30%

10 - 20%

Less than 10%

3%

49%

10%

33%

No appraisal 5%

Increase (58%)

Decrease (6%)

Stable (36%)

Mid-level (51%)

Junior-level (21%)

Graduate (9%)

Not hiring (9%)

Senior-level (8%)

Top management (2%)

Title & profile 55%

56%

Work culture 22%

18%

Brand 16%

18%

Compensation 7%

8%

Others 12%

11%


13%


15%


61%

Compensation 11%

10%

Female

Male

Female

Male

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 20%

32%

Less than 10% 29%

28%

No change 22%

21%

Decrease 7%

6%

Senior-Level

Mid-Level

Career Growth


Work Life Balance

Compensation

39%

17%

23%

15%

Other 7%

More than 30%

20 - 30%

10 - 20%

Less than 10%

3%

49%

10%

33%

No appraisal 5%

Increase (58%)

Decrease (6%)

Stable (36%)

Mid-level (51%)

Junior-level (21%)

Graduate (9%)

Not hiring (9%)

Senior-level (8%)

Top management (2%)

Title & profile 55%

56%

Work culture 22%

18%

Brand 16%

18%

Compensation 7%

8%

Others 12%

11%


13%


15%


61%

Compensation 11%

10%

Female

Male

Female

Male

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 20%

32%

Less than 10% 29%

28%

No change 22%

21%

Decrease 7%

6%

Senior-Level

Mid-Level

Most important thing in a new role

Reason for leaving

As talent attraction and retention are areas of focus for employers, the survey reveals that there is little difference from a diversity perspective on the reasons why middle to senior level professionals change jobs. 57% of women and 61% of men anticipate lack of career growth to be the prime consideration for leaving an organisation. Some 18% of women professionals anticipate work-life balance to be an important consideration unlike male professionals, who anticipate lack of support from management to be the next important consideration.

Among the candidates surveyed, title and profile were of prime importance when looking for a new role. Some 22% of women look at work culture as the second most important thing in a new role while. 18% of men rate both brand and work culture the most important after title and profile.

MARKET ANALYSIS

6


Finance

ATTRACTION AND RETENTION FROM A DIVERSITY PERSPECTIVE

SALARY & EMPLOYMENT FORECAST INDIA 2013/14

FINANCE & ACCOUNTING

Finance

8

SALARY & EMPLOYMENT FORECAST 2013/14FINANCE & ACCOUNTING

Finance

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options

No additional benefits

35%

22%

26%

11%

6%

Career growth

Training & development

Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)

Title & profile (65%)

Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)

Lack of career growth (59%)

Work life balance (19%)

Compensation (9%)

Support from management (7%)

Other (6%)

Specialist role (37%)

Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)

Company sponsored professional courses (38%)

Leadership skills training (37%)

Technical skills training (17%)

Soft skills training (8%)

Senior-level

Mid-level

Headcount expectations


Key retention strategies over the next 12 months

Key challenges while hiring in the coming year

Average percentage salary increase


Benefits received across organisations

Professional Shortages across functions

Preferred training by candidates

Key reasons to seek change

Hiring focus by level of experience

Increase (51%)

Decrease (7%)

Stable (42%)

Right technical skills (40%)

Salary expectations (29%)

Culture fit (25%)

Title (6%)

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options


35%

22%

26%

11%

6%

Career growth


Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)


Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)



Compensation (9%)


Other (6%)


Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)





Senior-level

Mid-level












Increase (51%)

Decrease (7%)

Stable (42%)



Culture fit (25%)

Title (6%)

Michael Page Finance & Accounting recruits middle and senior finance roles within commerce and industry with a specialist focus on:

• Accounting• Finance• Audit• Tax & Treasury

The early part of the year witnessed a slow start in finance hiring primarily because of a cautious market outlook by both multinational companies as well as Indian conglomerates. Hiring however saw an uptick post quarter 1 as finance candidates explored fresh opportunities after their annual appraisals. While growth within finance trails overall hiring expectations, with only 51% of CFOs seeing an increase in headcount

within their teams, demand is still strong within certain specialist areas. Furthermore, finance professionals who have strong business partnering skills and commercial acumen remain in demand as companies focus on transforming their finance function from business support to business partnership.

Headcount expectations Hiring focus by level of experience

MARKET OVERVIEW

9


Finance

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options


35%

22%

26%

11%

6%

Career growth


Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)


Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)



Compensation (9%)


Other (6%)


Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)





Senior-level

Mid-level












Increase (51%)

Decrease (7%)

Stable (42%)



Culture fit (25%)

Title (6%)

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options


35%

22%

26%

11%

6%

Career growth


Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)


Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)



Compensation (9%)


Other (6%)


Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)





Senior-level

Mid-level












Increase (51%)

Decrease (7%)

Stable (42%)



Culture fit (25%)

Title (6%)

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options


35%

22%

26%

11%

6%

Career growth


Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)


Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)



Compensation (9%)


Other (6%)


Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)





Senior-level

Mid-level












Increase (51%)

Decrease (7%)

Stable (42%)



Culture fit (25%)

Title (6%)

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options


35%

22%

26%

11%

6%

Career growth


Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)


Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)



Compensation (9%)


Other (6%)


Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)





Senior-level

Mid-level












Increase (51%)

Decrease (7%)

Stable (42%)



Culture fit (25%)

Title (6%)

The pharmaceutical and consumer goods sectors remained buoyant with strong hiring, primarily because these sectors are less cyclical in nature. The manufacturing sector mostly saw replacement hiring and some new headcount creation at a corporate level within FP&A teams. The service sector was a mixed bag with the IT and hospitality sector remaining weak,

while there were improving hiring trends within telecommunications. At a middle management level, there is a clear preference for local talent especially because of their exposure to local compliances, taxation and understanding of the market. At a more senior level there is a visible preference for Indians with strong international exposure.





INDUSTRY TRENDS

10


Finance

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options


35%

22%

26%

11%

6%

Career growth


Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)


Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)



Compensation (9%)


Other (6%)


Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)





Senior-level

Mid-level












Increase (51%)

Decrease (7%)

Stable (42%)



Culture fit (25%)

Title (6%)

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options


35%

22%

26%

11%

6%

Career growth


Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)


Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)



Compensation (9%)


Other (6%)


Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)





Senior-level

Mid-level












Increase (51%)

Decrease (7%)

Stable (42%)



Culture fit (25%)

Title (6%)

The demand for talented finance professionals in taxation, corporate finance and working capital management has seen an upward trend. Survey findings reveal, 37% of employers feel that these are the areas in which they are likely to face shortages. Organisations are increasingly being extra cautious in terms of compliance and statutory requirements in a highly regulated environment. Plant controllers in remote locations continue to be in demand, with companies paying strong premiums to

attract the right professionals for relocation. Finance is also increasingly being viewed as a business partner rather than business support function and this has led to increased demand for finance professionals who have good business acumen and some operational exposure. Chartered accountants who are rank holders remain highly sought after within large employer brands.

Key challenges while hiring in the coming year Professional shortage across functions

SKILLS IN DEMAND

11


Finance

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options


35%

22%

26%

11%

6%

Career growth


Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)


Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)



Compensation (9%)


Other (6%)


Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)





Senior-level

Mid-level












Increase (51%)

Decrease (7%)

Stable (42%)



Culture fit (25%)

Title (6%)

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options


35%

22%

26%

11%

6%

Career growth


Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)


Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)



Compensation (9%)


Other (6%)


Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)





Senior-level

Mid-level












Increase (51%)

Decrease (7%)

Stable (42%)



Culture fit (25%)

Title (6%)

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Bonus

Pay increase

Car allowance

Shares/options


35%

22%

26%

11%

6%

Career growth


Compensation

Others

Work life balance

43%

14%

24%

10%

9%

More than 30%

20 - 30%

10 - 20%

Less than 10%

0%

54%

8%

38%

Mid-level (54%)

Junior-level (23%)

Graduate (14%)

Senior-level (8%)

Top management (1%)


Work culture (15%)

Brand (11%)

Compensation (6%)

Other (3%)



Compensation (9%)


Other (6%)


Tax (29%)

Accounting (21%)

Finance (12%)

Audit (1%)





Senior-level

Mid-level












Increase (51%)

Decrease (7%)

Stable (42%)



Culture fit (25%)

Title (6%)

Over the next 12 months, most finance professionals expect an average percentage salary increase of 8-15%.




SALARY EXPECTATIONS

12


Finance

Please note:

1. Salaries are quoted as CTC (Cost to company including Basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.

SALARY TABLES

GENERAL INR Lacs INR Lacs INR Lacs INR Lacs

Roles 3 to 5 years 5 to 10 years 10 to 15 years > 15 years

Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai

CFO / Finance Director (large organisation) 1000 CR+ NA NA NA NA 60–70 80–120 70–90 120+

CFO / Finance Director (small / medium organisation) 300–1000

NA NA 25–35 30–45 35–55 50–70 50+ 70+

CFO / Finance Director (shared services centre) NA NA 20–30 25–35 35–50 35–50 45–70 50–75

GM Finance / Financial Controller (large organisation) NA NA 20–30 25–35 30–40 35–50 40–55 50–60

GM Finance / Financial Controller (small / medium organisation)

NA NA 18–25 22–30 25–30 30–35 30–45 35–45

GM Finance / Financial Controller (Plant) 12–18 12–18 15–25 18–30 25–30 30–35 30–35 35+

Finance Manager (large organisation) 12–15 12–15 15–30 15–35 NA NA NA NA

Finance Manager (small / medium organisation) 9–12 10–15 15–20 15–25 NA NA NA NA

Finance Manager (shared services centre) 8–12 8–12 12–18 12–18 NA NA NA NA

Financial & Planning Analysis 12–18 15–20 18-25 20–25 25–30 25–35 30–40 35–50

Financial / Business Analyst 12–15 15–22 15–22 22–30 NA NA NA NA

Financial Accounting 10–15 12–15 15-18 15–20 18–25 20–25 25–30 25–35

SPECIALIST INR Lacs INR Lacs INR Lacs INR Lacs



Finance Strategy (Tier 1) 15–20 18–25 20–30 25–35 30–40 35–50 40–60 50–80

Costing 10–12 10–14 12–18 15–20 18–25 20–25 25–30 25–35

Accounts Receivable 8–10 8–10 10–15 10–15 15–18 18–25 25–35 25–35

Accounts Payable 8–10 8–10 10–15 10–15 15–18 18–25 25–35 25–35

Treasury 8–10 10–15 12–20 18–25 25–40 30–50 40+ 50+

Tax-Indirect 10–15 12–15 15–18 15–25 18–30 25–35 30–40 35–50

Tax-Direct / International 12–18 18–25 18–30 25–35 30–40 35–50 40+ 50+

Corporate Finance 12–17 18–25 17–30 25–35 30–40 35–50 40–75 50–80

Investor Relations NA NA NA NA 35–50 40–60 50–70 50–70

Internal Audit 9–14 10–15 12–25 15–25 25–40 30–50 40–60 50–70

PUBLIC ACCOUNTING (BIG 4) INR Lacs INR Lacs INR Lacs INR Lacs



Audit 8–15 12–20 14–30 20–35 30–50 35–50 50+ 60+

Tax 8–15 15–22 20–30 22–40 25–45 40–60 60+ 70+

Transaction Advisory 8–15 12–20 14–30 20–35 30–50 35–50 50+ 60+


SALES & MARKETING

Sales & Marketing

14

SALARY & EMPLOYMENT FORECAST 2013/14SALES & MARKETING

Sales & Marketing









Compensation (38%)



Others (10%)


Career growth


Work life balance

Attractive compensation

Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%

More than 30% increase 4%

5%

15 - 20% increase 7%

16%

10 - 15% increase 42%

37%

Less than 10% increase 47%

42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)

HS: Most important new role CG: Most important thing in a new role

predicted staff numbers for the next 12 months Hiring focus by level of experience

CG: Preferred training by employees HS: Preferred training by employees

key reasons to seek change

Professional skills in demand for the next 12 months

Average percentage salary increase benefits received across organisations

change in bonus level changes while hiring

key retentiom strategies over the next 12 months

Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)

General management (16%)

Communication (2%)

Culture fit (49%)


Salary expectation (20%)

Title (5%)

The Michael Page Sales & Marketing function recruits professionals within middle to senior roles across the following sectors:

• Consumer Goods• Healthcare & Life Sciences

Healthcare & Life Sciences:










Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)

Consumer Goods:


15


Sales & Marketing

The healthcare & life sciences discipline covers companies within the pharmaceuticals, bio-technology, medical devices and healthcare sectors. The healthcare & life sciences industry in India is expected to see double digit growth annually which is likely to be fueled further by the proposed increase in government expenditure in research grants for new medicines.

The pharmaceuticals industry has proved resilient despite the recent economic cycles, and shortage of talent at a business unit head and above level remains a key concern in this sector.

MARKET OVERVIEW









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)

Predicted staff numbers for the next 12 months Hiring focus by level of experience

The consumer goods sector is the fourth largest sector in India and major goods companies reported an impressive year-on-year growth of between 10-25%. The sector is expected to continue to see double digit growth in 2013 as companies continue to invest in rural expansion and, in the process create strong opportunities for talent with rural sales and marketing experience. Apart from continued rural investment, during 2012 consumer goods companies increased their investment into new platforms to reach their customers and hence the creation of new roles within digital marketing. Professionals with a strong digital marketing background and a solid understanding of how to position organisations on social media were in demand.

With foreign direct investment opening in the retail sector, several international players have already obtained licenses to operate in India

and a further number is expected to do so over the course of the year. The current trends and the rapid growth of the market will create an acute shortage of talent at the middle to senior level, creating high demand for candidates that are experienced in setting up large retail chains as well as candidates with international exposure. This increase in demand is likely to drive up salaries and consequently the average annual increase in salary will be between 12-18% in the retail sector as a result of skill shortages due to the entry of new foreign players. On a sectoral basis, demand is likely to be highest for candidates with experience in clothing & apparel followed by the food & grocery sectors. These constitute the highest part of the organised retail market as well as the areas where foreign retailers are likely to enter the fastest.

16


Sales & Marketing

Growth across these industries has created a strong demand for professionals with appropriate skill sets and qualifications. Some 72% of employers surveyed within these sectors saw their headcounts increasing during 2013 with a strong focus on hiring middle management

professionals. As skills shortage in these areas increase, organisations are investing more in retention and offering stronger career management for their top talent.

INDUSTRY TRENDS









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)

Healthcare & Life Sciences:

Preferred training by employees


Consumer Goods:


Key reasons to seek change jobs

17


Sales & Marketing

While the market is growing, there is also an acute shortage of appropriate skills. Employers in both the healthcare and consumer goods sectors have stated that they shall focus on a number of factors including prior industry experience as an essential while hiring. The most important skills sought after by healthcare employers are product knowledge, technical skills and industry exposure. Consumer goods companies are increasingly saying that they expect international exposure and channel management skills. A strong demand for both sectors is core selling skills and distribution experience.

According to the survey results, professionals from the consumer goods industry when asked for which training they would like to go for replied with leadership skills training as their first choice followed closely by company sponsored professional courses. The healthcare & life sciences industry saw a similar trend with healthcare professionals seeking additional technical skills training as well.

SKILLS IN DEMAND









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)


18


Sales & Marketing

More than 50% of the employees have received salary increases between 10-15% while around 15% of employees have had increases of over 20%. Specifically for the consumer goods industry, the average annual salary

increase has been in the range of 10-15%. Along with salaries, perks offered to employees is also high with 95% of professionals receiving benefits like car allowances, bonuses etc.

Employers also feel a shortage of sales professionals and almost 26% of respondents say that finding people with the right technical skills is a problem, especially in the pharmaceutical industry. The major focus on

recruitment this year is expected to be in middle management with 61% of employers planning on recruitment at this level in sales & marketing.

SALARY EXPECTATIONS









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)









Compensation (38%)



Others (10%)


Career growth


Work life balance


Others

56%

33%

41%

16%

6%

More than 20%

15 - 20%

10 - 15%

Less than 10%

14%

51%

19%

17%

Car allowance

Bonus

Pay increase


Shares/options

63%

32%

42%

16%

14%


5%


16%

10 - 15% increase 42%

37%


42%

Senior-level

Mid-level

Brand (33%)


Work culture (22%)

Compensation (13%)


Work culture (29%)

Brand (16%)

Compensation (9%)









Mid-level (61%)

Junior-level (22%)

Not hiring (9%)

Senior-level (4%)

Top management (2%)

Graduate (2%)

Increase (72%)

Decrease (5%)

Stable (23%)

Sales (59%)

Marketing (23%)


Communication (2%)

Culture fit (49%)



Title (5%)




Challenges while hiring

19


Sales & Marketing

Please note:


CONSUMER PRODUCTS INR Lacs INR Lacs INR Lacs INR Lacs



Sales 12–18 15–20 15–30 20–30 30–40 35–45 40+ 45+

Brand Mgmt / Product Mgmt 14–20 15–20 20–30 22–30 30–45 40–50 45+ 50+

Trade Marketing 12–18 14–20 18–25 20–30 25–40 30–40 40+ 40+

Category Management 14–20 15–20 20–30 25–35 30–45 40–50 40+ 50+

Communications & CSR 8–12 14–18 12–20 15–25 20–35 25–40 35+ 40+

Channel Management 12–18 14–20 15–25 22–32 30–40 35–45 40+ 45+

MEDICAL DEVICES INR Lacs INR Lacs INR Lacs INR Lacs



Sales 6–10 8–12 10–18 12–20 18–25 20–30 25+ 30+

Regulatory Affairs / QA / RA 5–10 5–10 10–18 10–18 15–30 18–30 30+ 30+

Brand Mgmt / Marketing / Product Mgmt 8–10 10–15 10–15 12–18 15–30 18–30 30+ 30+


Clinical / Application / Product Specialist 5–8 6–10 8–12 10–15 NA NA NA NA

PHARMACEUTICALS INR Lacs INR Lacs INR Lacs INR Lacs



Sales 5–10 8–12 10–18 12–20 18–24 18–28 25+ 25+

Regulatory Affairs / QA / RA 8–12 10–12 10–15 12–15 15–30 15–30 30+ 30+

Brand Management / Marketing 8–10 8–10 10–18 10–18 18–30 18–30 30+ 30+


SALARY TABLES

Human Resources


HUMAN RESOURCES

21

SALARY & EMPLOYMENT FORECAST 2013/14HUMAN RESOURCES

Human Resources

Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)

Support from top management (16%)


Compensation (8%)

Career growth

Strong training & development

Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level

Likely to remain stable (54%)

Likely to increase (44%)

Likely to decrease (2%)

Predicted staff numbers for the next 12 months


Key strategies over the next 12 months

Key strategies while hiring in the coming year


change in bonus levels

Benefits received across organizations






Work culture (23%)

Brand (15%)

Compensation (5%)

Availability of right technical skills (50%)

Culture fit (25%)


Title (4%)

Generalist (34%)

Compensation & benefits (32%)

Organisational development (21%)

Talent acquisition (15%)

Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




The Michael Page Human Resources function recruits professionals within middle to senior roles across the following sectors:

• Banking & Financial services• Industry & Commerce

Recruitment activity within the human resources (HR) sector is likely to remain positive over the next 12 months, with 44% of HR directors surveyed looking to increase their headcount. The strongest hiring activity is expected within middle management, with 66% of the surveyed employers likely to hire at this level. There is a demand for HR professionals to act as business partners within companies and this has given rise to Centres of Excellence emerging within HR teams across companies.

In an effort to support business growth, an increasing number of companies are looking for the traditional HR function to have more of a strategic focus. This has fuelled demand for HR professionals across the

professional services, technology, banking, and pharmaceutical sectors in particular.

As companies face a general shortage of talent, particularly with niche skill sets, employee engagement and retention have become key. As a result, HR is now increasingly perceived as a business critical function and has assumed a business partnering role with the senior leadership of most organisations in India. The last year has also seen increased specialisations within HR, with roles such as diversity management and leadership development evolving into stand alone roles within organisations.

Predicted staff numbers for the next 12 months Hiring focus by level of experience

MARKET OVERVIEW

22


Human Resources

Within financial services, companies continue to re-examine their talent acquisition strategies. There is a move to hire talent acquisition professionals with strong domain knowledge as roles within financial services become increasingly complex and niche.

Within manufacturing we have seen an increasing demand for industrial relations professionals who can also assume corporate HR roles in order to improve employee engagement and retention.

Some 57% of survey respondents reported that their title and profile is the most important factor when considering a new role. This was followed by the work culture (23%). Compensation is the least important factor that candidates look for in a new job, with only 5% selecting this as a priority. For most respondents (47%) lack of career growth is the main reason why they would consider leaving their current jobs.

Most important thing in a new role Key reasons to seek change

INDUSTRY TRENDS

Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




23


Human Resources

Employers are offering competitive salary increases to attract and retain staff given the ongoing shortage of highly skilled professionals. Providing employees with career growth is seen as the key retention strategy by 36% of the employers surveyed, while 22% of the employers believe that

providing strong training and development is the most important thing to retain employees. Some 51% of survey respondents selected leadership skills as the most preferred area for training. The option of professional courses was selected by a further 28% of the respondents.

Some 50% of employers cited a lack of availability of the right technical skills as the biggest challenge they face while hiring. This was followed by finding employees with the right culture fit (25%).




Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




24


Human Resources

As more companies expand their HR teams to position themselves for growth in 2013, the strongest hiring activity is expected to be at a middle level. Generalist roles are the most sought after in the industry with 34% employers expecting a shortage of quality professionals in this function in their organisation. Companies are also looking for professionals especially in the compensation and benefits function to support organisational structural efficiencies. As companies plan their hiring strategies for the year ahead, talent acquisition and talent

management are becoming particularly sought after to help implement retention strategies. Professionals in the local market with skills in the area of organisational development are a particular sourcing challenge for employers. Employees that offer a blend of both technical expertise and functional knowledge will therefore be highly sought after. In addition to this, the opportunity cost of high attrition rates can be tackled by effective employee engagement programs.

SKILLS IN DEMAND


Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




25


Human Resources

Employers are offering competitive salary increases to attract and retain staff given the ongoing shortage of highly skilled professionals. Providing employees with career growth is seen as the key retention strategy by 36% of the employers surveyed, while 22% of the employers believe that

providing strong training and development is the most important thing to retain employees. Some 51% of survey respondents selected leadership skills as the most preferred area for training. The option of professional courses was selected by a further 28% of the respondents.

Some 50% of employers cited a lack of availability of the right technical skills as the biggest challenge they face while hiring. This was followed by finding employees with the right culture fit (25%).




Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




26


Human Resources

As more companies expand their HR teams to position themselves for growth in 2013, the strongest hiring activity is expected to be at a middle level. Generalist roles are the most sought after in the industry with 34% employers expecting a shortage of quality professionals in this function in their organisation. Companies are also looking for professionals especially in the compensation and benefits function to support organisational structural efficiencies. As companies plan their hiring strategies for the year ahead, talent acquisition and talent

management are becoming particularly sought after to help implement retention strategies. Professionals in the local market with skills in the area of organisational development are a particular sourcing challenge for employers. Employees that offer a blend of both technical expertise and functional knowledge will therefore be highly sought after. In addition to this, the opportunity cost of high attrition rates can be tackled by effective employee engagement programs.

SKILLS IN DEMAND


Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




27


Human Resources

In order to enhance their skill set most candidates (37%) prefer to take company sponsored professional courses followed by leadership skills training (36%). Some 38% of the employees surveyed received a 10-15% increase in salaries this year, while 21% of the employees received a salary increase of over 20%. Bonuses and car allowances

were widely observed as additional benefits received by HR professionals this year with 56% of employees receiving a bonus and close to 50% of employees receiving car allowances. Only 19% of employees reported that they received no additional benefits.

Bonuses in the range of 10-20% were widely observed in the HR sector with close to 30% of the employees surveyed receiving bonuses in this range. Higher bonuses were common among senior employees due to the

shortage of talent at a senior level. Bonuses in the range of 10-20% were most common among middle-level employees.

SALARY EXPECTATIONS

Percentage salary increase



Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




Mid-level (66%)

Junior-level (16%)

Graduate (16%)

Senior-level (2%)

Top management (0%)






Others (19%)



Compensation (8%)

Career growth


Work life balance


Others

36%

19%

22%

14%

9%

More than 20%

15 - 20%

10 - 15%

Less than 10%

21%

38%

14%

26%

Bonus

Car allowance

Pay increase

Shares/options


56%

36%

50%

25%

19%

More than 30% 7%

2%

20 - 30% 16%

11%

10 - 20% 29%

28%

Less than 10% 4%

2%

Senior-Level

Mid-Level
















Work culture (23%)

Brand (15%)

Compensation (5%)


Culture fit (25%)


Title (4%)

Generalist (34%)




28


Human Resources

Please note:


SALARY TABLES

BANKING & FINANCIAL SERVICES INR Lacs INR Lacs INR Lacs

Roles Senior Manager/AVP VP/SVP Director

Delhi Mumbai Delhi Mumbai Delhi Mumbai

Head of Human Resources (large companies) NA NA 45–65 50–80 70+ 80+

Head of Human Resources (small / medium sized companies)

NA NA 35–50 40–55 50+ 60+

HR Generalist / Business Partner 15–20 16–22 25–40 28–45 40+ 50+

Compensation & Benefits 18–24 20–26 30–45 35–48 50+ 55+

Learning & Development 15–20 16–22 25–40 28–43 40+ 50+

Talent Acquisition 10–18 12–20 22–37 25–40 40+ 45+

HR Operations / Payroll / HR IS 10–18 12–20 20–35 22–40 40+ 45+

COMMERCE & INDUSTRY INR Lacs INR Lacs INR Lacs

Roles 8–12 years 12 to 16 years 16+ years

Delhi Mumbai Delhi Mumbai Delhi Mumbai

Head of Human Resources (large companies) NA NA 45–65 50–80 70+ 80+

Head of Human Resources (small / medium sized companies)

25–35 30–40 30–45 35–50 35–50 40–55

HR Generalist / Business Partner 18–30 20–32 32–46 33–49 40+ 45+

Learning & Development 16–28 20–30 30–45 32–48 40+ 45+

Compensation & Benefits 21–33 23–35 35–42 37–44 45+ 45+

Talent Acquisition 18–30 20–31 28–38 30–40 40+ 45+

Talent Management / OD 20–31 22–34 36–45 38–50 50+ 50+

Industrial Relations 15–27 18–30 30–35 30–35 32+ 35+

HR Operations / Payroll / HR IS 14–25 15–25 30–42 32–45 40+ 45+

HR Consulting 28–38 28–39 38–48 40–48 60+ 70+

Financial Services


BANKING & FINANCIAL SERVICES

30

SALARY & EMPLOYMENT FORECAST 2013/14BANKING & FINANCIAL SERVICES

Banking &Financial Services

MARKET OVERVIEW

Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)


Company sponsoredprofessional courses (36%)



Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)


Hiring focus within captives/KPO


key retention strategies over the next 12 months






Preferred Training by employees


Hiring focus within PE/VC



Culture fit (20%)

Title (3%)

Risk & compliance (37%)

Operations (28%)

Analytics (18%)

Finance & accounting (17%)

Michael Page Banking and Financial Services recruits professionals in middle and senior level positions across all verticals in the banking industry,

• Front Office – Investment Banking, Private Equity & Venture Capital• Finance, Risk & Governance• Mid & Back Office Operations• Quality, Change & Project Management • Analytics

The Indian banking and financial services sector presented a number of contradictions in 2012-13, both in terms of outlook and a shift in focus during the course of the year. The last 12 months were amongst the more unpredictable periods experienced in recent times within Indian financial services. Consequently most financial services firms have adopted a cautious and watchful outlook for 2013 while continuing to make measured investments into their India business. Overall, the survey demonstrates a stable picture for the year ahead after the turmoil of the latter half of 2012.

Within the front office area, the investment banking sector saw downsizing of up to 50% across the bulge bracket banks in response to the low deal

volumes. This has been the largest downsizing India has seen in terms of scale and number of organisations that participated in it. Moving to a leaner core has also resulted in lay offs occurring at senior levels. A clear drive towards a specialist core focus for business rather than being spread out across various products and services has driven these changes.

The venture capital area however, clearly illustrates the dichotomy in the industry with a completely opposite story. 2012-13 experienced a record high in fundraising in a single year from an India perspective, amounting to approximately USD 1Billion. A growing appetite amongst investors to put their money in emerging promoter driven companies has resulted in this surge.


31



Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)


Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)


Overall in front office, hiring within IB, PE and VC were focused on the junior-end with a lot of opportunities being of temporary nature – typically two year Pre-MBA programs. The preference towards under graduates over post graduates in the Indian market was a first.

A similar contradiction was seen in the captive and KPO businesses in roles across middle, back office and project management. The first half of 2012 saw positive growth in global migrations and transitions, creating

new opportunities for Indian professionals continuing from the buoyant growth experienced in 2010 and 2011. However, halfway through 2012 a number of banks went into a hiring freeze. Although it has been a theme gradually gaining volume and importance, the second half of 2012 was where productivity, efficiency and quality was established as the clear priority for all global operation hubs in the next cycle of financial services off-shoring.

While most of the large captives continue to hire at entry level, primarily to offset soaring attrition rates from a recruitment perspective, there has been a significant growth in investment in attracting and retaining senior talent with strong transformational and change leadership experience and international exposure to bring in global perspectives and stakeholder management skills.

Although smaller in scale than in previous years, 2012-13 did see new entrants in global banks setting up centers in India with the hybrid model

of a fully owned captive as well as lower end services with third party service providers and KPOs. Overall, the captive space is adding about 1,500-2,000 high quality jobs at the middle to senior levels, creating an unsustainable talent gap as internal growth to fill these jobs is not keeping pace with the demand. Expatriate secondments, attracting returning Indians, and a focused strategy to develop diversity balance have consequently gained importance to bridge these gaps.



32



INDUSTRY TRENDS

While evaluating new job options, most professionals generally look for the business designation and responsibility levels. This trend has made the smaller firms particularly attractive to Analysts and Associates, as they gain exposure in multiple business areas along with a bigger job title.

Working professionals today look for career growth and often tend to leave organisations which lack a clear development and career plan. Employers have also understood this and thus a majority of them use career growth as well as strong training and development as retention strategies.

The technical skill gap available in the market continues to remain the biggest challenge. This is followed by the difficulty faced by organisations to match the salary expectations of the prospective employees.

Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)


Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)


Most important thing in a new role Key reasons to seek change

33



In order to enhance their skill set most candidates (37%) prefer to take leadership skills training closely followed by company sponsored professional courses (36%). This demand is largely driven by the need to increase one’s credibility internally, as strong educational brands continue to be perceived as imperative in order to be considered ‘top talent’ in the Indian market.

Professionals in front office roles prefer soft skills training with leadership skills training being the next choice. While most junior to middle level roles require strong analytical and quantitative ability, sustained career progression requires these professionals to enhance their soft skills.

Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)



Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)


Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)


Key retention strategies over the next 12 months Preferred training by employees

34



SKILLS IN DEMAND

Rank holders at leading engineering institutes in the country have been high in demand for the two year programs. This combination of strong pedigree along with one to two years of experience in the consulting, private equity and investment banking areas has been much sought after by leading institutions for front office hires. At a more senior level, most of the demand has been for consumer vertical experts following heavy investments in this area.

A similar demand has been growing at an exponential rate for strong engineering and statistics professionals, with the expanding analytics businesses in the country covering risk, customer and marketing analytics. There is a large gap at the middle to senior level in the analytics area, which is being addressed by investing in internal development, retention and attracting returning Indians.

Across captives and third party service providers the generic skills in demand continue to exist at VP and above senior level management roles. The biggest demand centers around strong change managers with the ability to develop and grow global stakeholder relationships. An emerging trend of techno-functional project managers has been witnessed amidst the larger banks and clear indications for the continuing demand for such talent has been indicated by KPOs and service providers. This skill is expected to gain importance through 2013, with the growing benefits in combining technology and subject matter expertise.

Specifically in the finance, risk and governance area, product controllers across asset classes and levels continue to be the highest in demand. This has allowed the relatively small pool of requisitely skilled professionals to demand higher benefits and compensation than other accounting and

finance roles. 2012 saw a surge in IFRS, US GAAP and regulatory reporting professionals with international exposure with most of the migrations happening in these functions.

Within back and middle office operations, asset services and corporate actions experts have been high in demand, with a large section of investor servicing and middle office moving to offshored locations in India. This has been closely followed with operational risk and controls which has been high on the agenda of employers, parallel to productivity initiatives. While most of the investment banking operation teams have stabilised in size and are in consolidation phases, there is major demand in transaction and wholesale banking operations. Returning Indians and senior diversity candidates continue to top internal recruitment agendas within all the bulge bracket banks.

Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)



35



SALARY EXPECTATIONS

For a majority of the organisations surveyed, the average salary increment was 13% whereas the median salary increment was around 11%.

Some 47% respondents received increments in the range of 0% to 10%, and around 41% received increments in the range of 10% to 15%.

In addition to salary increment, two thirds of professionals surveyed received bonuses, and 47% received car allowance. Bonuses across levels predominantly remained same as the previous year across both mid

and senior levels and Average percentage salary increases of between 10% and 12% are most likely with higher increases reserved for top performers.

Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)


Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)


Junior-level (60%)

Mid-level (20%)

Graduate (13%)

Senior-level (7%)

Top management (0%)

Mid-level (48%)

Junior-level (25%)

Graduate (14%)

Senior-level (9%)

Top management (4%)


Work culture (16%)

Brand (15%)

Compensation (11%)

Others (3%)



Compensation (11%)


Others (9%)





Career growth


Work life balance


37%

22%

27%

10%

Others 4%

More than 20%

15 - 20%

10 - 15%

Less than 10%

3%

41%

10%

47%

Bonus

Pay increase

Car allowance

Shares/options


75%

47%

56%

24%

14%

More than 30% 3%

3%

20 - 30% 8%

3%

10 - 20% 18%

22%

Less than 10% 20%

21%

Senior-Level

Mid-Level

Increase (61%)

Decrease (4%)

Stable (35%)















Culture fit (20%)

Title (3%)


Operations (28%)

Analytics (18%)




Benefits receives across organisations

36



Please note:


SALARY TABLES

FINANCE INR Lacs INR Lacs INR Lacs INR Lacs

Roles AVP VP SVP/Director Managing Director

Central FinanceBangalore/Chennai/ Delhi NCR

MumbaiBangalore/Chennai/ Delhi NCR



Mumbai

CFO NA NA 45–65 NA 65–80 60–90 80+ 100+

Financial Reporting 16–24 18–25 28–42 30–45 45–70 50–70 70+ 100+

Tax Accountant 16–24 18–28 30–45 35–50 45–70 50–70 70+ 80+

Management Reporting 16–24 18–28 28–42 32–45 45–70 50–70 70+ 80+

Costing Controls / Analytics 16–24 18–28 28–40 30–45 45–70 50–70 70+ 80+

Legal Entity Control 16–24 18–26 25–42 30–45 45–70 50–80 70+ 85+

Regulatory Reporting 16–24 18–25 26–40 30–45 45–65 50–70 75+ 85+

Finance ProjectsBusiness Analyst / Change Management 16–24 18–25 24–40 30–45 45–75 50–80 75+ 85+

Product ControlMoney Market 18–26 18–30 28–45 35–55 50–75 60–80 75+ 90+

Equities 18–26 18–30 28–45 35–55 50–75 60–80 75+ 90+

Commodities & Derivatives 18–26 18–30 28–45 35–55 50–75 60–80 75+ 90+

37



Please note:


SALARY TABLES

OPERATIONS INR Lacs INR Lacs INR Lacs INR Lacs

Roles AVP VP Director Managing Director

OperationsBangalore/Chennai/ Delhi NCR

MumbaiBangalore/Chennai/Delhi NCR



Mumbai

Head of Operations / COO NA NA 30–45 40–50 50–80 60–90 80+ 90+

Project Management 16–26 18–28 28–40 30–45 50–70 60–80 70+ 70–90

Quality 15–28 18–28 30–45 30–50 50–70 60–80 75+ 80–100

Transitions 15–25 18–28 26–40 30–45 45–70 50–75 75+ 70–90

Payments & Cash Management 15–25 18–28 26–40 30–45 50–70 55–85 75+ 90+

Middle OfficeClient Servicing 14–20 16–24 20–35 22–40 40–55 45–60 60+ 70–90

Trade Support / Capture 15–28 16–30 32–42 35–48 45–70 50–75 75+ 80–120

Reference Data 15–27 16–30 27–40 30–45 45–55 50–60 60+ 75–90

Corporate Actions 15–27 16–30 22–40 25–45 45–55 45–60 60+ 70–100

Business Management 18–25 20–30 25–40 30–45 45–80 50–70 80+ 90–120

Change Management 18–25 20–30 30–40 30–45 45–60 50–70 80+ 85–120

Fund Administration 20–26 20–30 30–45 30–48 45–65 50–70 75+ 80+

Back OfficeCollections 15–25 18–28 26–35 28–40 35–45 40–50 50+ 60–80

Settlement 15–25 18–28 25–35 28–42 40–65 50–70 70+ 75–90

Reconciliation 15–25 18–28 25–35 28–42 40–65 50–70 70+ 75–90

Documentation 12–24 18–28 24–40 28–45 40–65 50–70 70+ 80–90

Collateral Management 15–25 18–28 25–35 28–40 40–65 50–75 70+ 75–90

ISDA Documentation 12–24 14–26 24–35 25–40 40–60 45–65 70+ 55–80

Transaction Management 12–22 14–25 25–40 28–45 40–60 45–60 70+ 75–90

Trade Finance Operations 15–22 16–25 25–38 25–45 45–60 50–80 70+ 75–90

Credit Administration / Loan Operations

15–25 18–28 28–40 32–48 40–55 45–65 70+ 75–90

38



Please note:


AUDIT, COMPLIANCE & RISK INR Lacs INR Lacs INR Lacs INR Lacs

Roles AVP VP SVP/Director Managing Director

AuditBangalore/Chennai/Delhi NCR




Mumbai

Internal Audit 14–20 18–24 20–30 30–40 30–45 45–60 45–75 65–85

ComplianceKYC / AML ( Anti Money Laundering) 15–22 16–23 22–35 24–40 40–60 45–65 NA NA

Regulatory Compliance 15–25 16–28 25–35 30–40 35–50 45–60 NA NA

Legal 15–25 16–28 25–35 30–42 40–55 45–60 80+ 90+

RiskMarket Risk 16–24 18–30 28–45 30–55 50–70 55–80 80+ 90+

Credit Risk 15–24 18–26 25–38 28–45 40–60 50–80 70+ 90+

Operational Risk 15–25 18–28 28–45 30–55 50–75 60–80 75+ 90+

FRONT OFFICEINR Lacs INR Lacs INR Lacs INR Lacs INR Lacs

Roles Associate Senior Associate/AVP Vice President Director Managing

Director

Investment Banking (Domestic Banks)Corporate Finance / M&A 20–25 25–35 35–45 50–75 80–100

Sales & Trading 10–15 15–25 25–40 55–70 NA

Equity Research 10–15 15–25 30–45 55–70 NA

Investment Banking (MNC Banks)Corporate Finance / M&A 40–50 50–70 70–90 100–125 125–175

Sales & Trading 20–25 25–35 50–80 90–110 NA

Equity Research 20–22 25–35 50–80 90–110 NA

Investment Banking (KPO)Equity Research 12–15 15–20 25–30 NA NA

Private Equity & VCGlobal Fund 60–75 85–95 100–125 100–150 200–250

Fund Size USD 200–700 mn 40–50 55–70 75–90 90–110 125–175

Fund Size<USD 200 mn 20–30 35–45 50–70 70–85 90–120

ANALTYICS (PAN INDIA) INR Lacs INR Lacs INR Lacs INR Lacs

Roles AVP VP SVP Managing Director

Marketing Analytics 16–22 25–40 50–70 70+

Risks Analytics 20–25 30–50 60–80 80+

Web Analytics 16–22 25–40 50–70 70+

Statistical Modelers 20–25 30–50 60–80 NA

Analytics Consulting 25–40 40–60 70–90 90+

SALARY TABLES

Gurgaon10th floor Tower C, Building No. 8, DLF Phase II, DLF Cybercity Gurgaon, Haryana, India 122002 Tel +91 (0) 124 452 5500 Fax +91 (0) 124 452 5555 [email protected]

BKC5th Floor, 2 North Avenue, Maker Maxity, Bandra-Kurla Complex, Bandra (E), Mumbai, India 400051 Tel +91 (0) 22 4236 3300 Fax +91 (0) 22 4236 3301 [email protected]

CONTACT US

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INDIA 2013/14 SALARY & EMPLOYMENT FORECAST · small and medium sized enterprises. ... The Salary &...

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