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1、1Salary Watch 2020:India获取更多最新资料请加微信y o u z i c m s 6662RGF Salary Watch:IndiaAbout this Report RGFs Salary Watch:India report has been conducted with the aim of better understanding the salary trends and data across all industries and job levels in India.This report is based on the RGF-owned candid
2、ate pool covering more than 200,000 candidates(collected from February 2019 to February 2020)in our India database.The definition of annual basic salary used throughout this report does not include allowance,stock,bonus or any other additional benefits,and the salary exchange rate used is USD1=INR72
3、.Due to the real-time nature of some of this data,RGF encourages readers to use its insights at their discretion.获取更多最新资料请加微信y o u z i c m s 6663RGF Salary Watch:India16Table of ContentsAbout the ReportTable of ContentsIndia Overview Key Trends Job Market Trends Salary Data ReferencesAbout RGF 23 58
4、9132627获取更多最新资料请加微信y o u z i c m s 6664RGF Salary Watch:IndiaOverview of India获取更多最新资料请加微信y o u z i c m s 6665RGF Salary Watch:IndiaRecovery Expected Despite Slowing EconomyLABOR MARKET SIZE673 MILLION1GDPUSD2.94 TRILLION2PMI52.74FDIUSD49 BILLION3(2019 Key Index)Once considered the fastest growing e
5、conomy,India began experiencing a slowdown in the last half of 2019 that has extended into 2020.This slowdown has impacted not just gross domestic product,but the job market as well,which began experiencing a slump in late 20195.As the COVID-19 pandemic hit India in early 2020,the country went into
6、lockdown and the government announced a series of fiscal stimulus packages amounting to$266 billion6(as of the middle of May 2020)in order to assist people who were unable to work during the lockdown period,low-income households7,small businesses and the domestic manufacturing sector8.It is hoped th
7、e stimulus packages will be a positive impact,both to fight a further economic slowdown in the short term,and to promote growth in the long term.Because the impact of COVID-19 has brought blows to the economy and job market,both employers and employees are even more cautious when planning for new hi
8、res or changing roles.获取更多最新资料请加微信y o u z i c m s 6666RGF Salary Watch:IndiaThe COVID-19 pandemic has thrown a spanner in the works for everyone.Due to uncertainty in the global economy,salaries across wide swaths of Indias job market will be severely impacted,especially as several organizations are
9、 cutting salaries at the CXO level,varying from 10%to as high as 50%.It is expected that the industries that will be most affected by salary cuts are the aviation,automobile,oil&gas,hospitality,tourism,real estate,and manufacturing sectors.That said,this is not occurring across all industries.Sector
10、s where work from home has not greatly impacted business relative to the above sectors such as new technology,agricultural chemicals and pharmaceuticals will perhaps be able to provide increases in salary for employees,but at modest levels.In the event that companies are able to offer increases,it i
11、s likely that the average compensation hike will be 5%to 7%and perhaps only for high performers.For companies who are moving ahead in hiring senior and executive leaders,the pandemic has disrupted both the recruitment process and the negotiating table.Though recruiting leadership has been always bee
12、n a complex process of ensuring the candidate not only has the right experience,leadership style and performance track record,as well as feeling confident that they are the right culture fit,have the desired soft skills and forward-thinking perspective to move the company toward its goals,the proces
13、s is even more difficult now.Considering the uncertainty in the global and local economy,businesses will need leaders who are able to drive sales,potentially pivot the company and,once things are stable,spearhead future-proofing efforts,such as building an internal talent pipeline and assessing lead
14、ership inside the organization annually.Companies will need to be prepared to not only offer an excellent compensation package,but provide stellar benefits,including flexible working options,health care,and financial benefits such as performance-based earn-out models,stock options or profit sharing.
15、Executive Salaries to be Impacted by COVID-19,But Not In All Sectors”Sanjay R.ShastryManaging Director,RGF Executive Search India获取更多最新资料请加微信y o u z i c m s 6667RGF Salary Watch:IndiaThe outbreak of COVID-19 has impacted the global economy,and the local Indian economy is experiencing a deepened sens
16、e of VUCA(volatility,uncertainty,complexity,and ambiguity)as business leaders and experts predict U-shaped and V-shaped recovery.These uncertainties have pushed some companies to take a wary approach towards new plans,leading to hiring freeze,salary cuts or,in some cases,layoffs.That said,the Indian mid-tier and specialist market is colossal and so diverse that the impact of COVID-19 on hiring is expected to be limited and short term.This is largely thanks to the Indian governments$266 billion i
