2014/15 india salary & employment forecast report

SA L A RY & E M P L OY M E N T F O R E CAS T 2 0 1 4 / 1 5

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human resources

Human Resources

F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E -F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G

SALARY & EMPLOYMENTFORECAST

I N D I A 2 0 1 4 / 1 5


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WELCOME

WELCOME TO THE MICHAEL PAGE SALARY & EMPLOYMENT FORECAST FOR 2014/15Michael 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 155 offices across 36 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 labour market. This year, our survey comprises 288 employers and thousands of conversations with clients across 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


3

market overview

India’s business market is currently primed for expansion, with the recruitment market being driven by significant industry sectors such as FMCG, retail, healthcare, manufacturing and real estate. The next few years are expected to prove critical to India’s ability to establish itself as a key player in terms of global productivity, and leverage its unique benifit of a large percentage of native English speakers in an emerging economy. With the right conditions and support from both the newly elected government and industry leaders, India is well positioned to become a leading player in the global employment market.

The Modi government has brought optimism to the local employment market, with clear goals in place to make India an attractive business destination. The quick decision to relax regulations around Foreign Direct Investment (FDI) and push infrastructure investment has created positive forecasts for India’s manufacturing industry and services sector. As a result, business leaders are expressing optimism in these early stages, with high hopes for increased transparency under his leadership.

The local employment market is showing signs of growing maturity, with diversity and staff retention remaining a key focus. In the past few years, employers have made strong headway when it comes to corporate responsibility, including implementing solid diversity policies in order to provide equal opportunity to candidates from all backgrounds and genders. Some 79% of employers surveyed for the 2014/15 Michael Page India Salary & Employment Forecast indicate that women in their organisation are provided the same opportunity to progress to executive level roles as men.

Managing turnover will continue to provide a major challenge for employers in the next 12 months, with 51% of surveyed employers expecting staff to leave their business in the coming year. There is currently significant support from senior level executives and Human Resources teams to implement retention strategies with a focus on non-financial gains such as work/life balance and career development opportunities as companies recognise the value of developing employees’ skills and offering internal career opportunities. Business leaders who understand the importance of strong retention policies will ensure consistency within an organisation, which is vital for business growth.

Results of the 2014/15 Michael Page India Salary & Employment Forecast support predictions for high levels of growth in India’s employment market. Some 70% of surveyed employers plan to expand their team in the coming year. As company headcount grows, the challenge lies in hiring the right people and those with the ambition to grow within a company will be highly sought after. In addition, many employers are currently seeking highly competent professionals at the mid to senior management level, with 45% of surveyed employers indicating mid-level professionals will be in highest demand in the coming year. There is currently a shortage of leaders at this level who are able to motivate their direct reports and instill strong team culture within an organisation. Managers with these leadership skills are essential for both operational purposes and to achieve growth into the future.

India’s domestic business market has seen broader geographical diversity over the past 12 months, with organisations looking outside the major cities when establishing additional office locations. Pune, Chennai and Jaipur have emerged as key destinations for this activity. Pune is attracting more investment from industrial companies while Jaipur and Chennai are popular locations for Shared Service Centres due to lower operating costs.

A number of key industry sectors are well positioned for growth over the next 12 months, due to a combination of rising consumer confidence and government policies encouraging increased activity. India’s banking sector has seen the introduction of new licences in 2014, which has led to greater hiring activity as new businesses are established locally. The larger volume of job opportunities has created increased competition in the market, driving employers to place a stronger focus on retention strategies for existing workers.

The retail and FMCG sectors are benefitting from improved local economic conditions, which is increasing consumer activity in these areas. As consumer confidence grows over the next 12 months, business confidence is likely to further increase, creating ample career opportunities for professionals in these fields.

In terms of hiring strategies, social media is growing in popularity in India. Employers are increasingly aware that digital assets present an opportunity to attract new candidates to their company and are investing in these channels. Some 68% of surveyed employers use social media as part of the recruitment process, with LinkedIn the favoured platform for 94% of those.

The overarching sentiment in India’s employment market is one of growth, with business leaders looking to become competitive on an international scale. Employers and government are making positive changes towards that goal, creating an optimistic outlook for the coming 12 months in India’s recruitment market.


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market overviewRECRUITMENT ACTIVITY

Strength of current hiring activity compared to the last 12 months

Expectation of a professional skills shortage in the next 12 months

Stronger (21%)

Slightly stronger (26%)

Steady (35%)

Slightly weaker (11%)

Weaker (7%)

39%

Yes Unsure

14%

No

47%

Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team.


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Skills shortage placing upwards pressure on salaries

Workplace offers same opportunity for women to progress to senior/executive level positions as men

Impact of skills shortage on businesses in India over the next 12 months

Evidence of equal opportunity to progress to senior/ executive roles’*

Yes, it will cause salaries to rise above the inflation rate (71%)

Yes, salaries will increase but only at the rate of inflation (23%)

No, the skills shortage will not impact salary levels (6%)

None Other** Source talent from

overseas

5% 3% 2%

It will be difficult to maintain

headcount

10%

80%

Need to develop more

targeted attraction strategies

0

20

40

60

80

100

** training, career frameworks, high-potential mangement, etc.

29%

15%

YES

NO

Unsure

56%

79%YES

13%MAYBE

8%UNSURE

52%

36%

42%

35%

39%

10%

Based on number of women in senior/executive positions

Range of flexible working arrangements offerredto accommodate parents in the workplace

Formal diversity policy with targets for increasing the number of women in senior/executive positions

Engaged CEO focused on the diversity agenda

Range and availability of leadership training provided to employees

Other***

*** equal opportunity policy, anti-discriminatory culture, etc.

* more than one option could be selected.


6


Companies using social media to source talent

Companies expecting to increase headcount over the next 12 months

Preferred social media platforms used to source talent

Experience level expected to be in highest demand

Google+

Linkedin

Facebook

4%

94%

2%

0 20 40 60 80 100

Entry level (10%)

Mid-level (45%)

Management (19%)

Senior management (9%)

Specialists (17%)

68%

32%

0

20

40

60

80

100

29%

15%

YES

NO

Unsure

56%

70%YES

23%NO

7%UNSURE


7

market overviewSALARY AND REMUNERATION

Salary increases over the next 12 months Average percentage salary increase over the next 12 months

All my employees will receive the same percentage increase

2%

All my employees will receive an increase, but it will vary according to performance

91%

Only my best performing employees will receive an increase

6%

No one in my team will receive an increase

1%

0 20 40 60 80 100

1% - 5%

6% - 10%

11% - 15%

16% - 20%

6%

38%

7%

48%

21% - 30%

16% or above 74%

1%

0 20 40 60 80 100

Average percentage salary increase for the best performers

1% - 5%

6% - 10%

11% - 15%

21% - 30%

2%

35%

15%

10%

31% - 40%

Above 40% 3%

2%

16% - 20%

41% - 50%

34%

1%

60% and above 1%

0 20 40 60 80 100


8


Average salary increase to hire new staff

Factor most likely to impact salary levels in the next 12 months*

Flexible salary packaging or fringe benefits offered to employees

10%

3%

61%

48%

44%

40%

69%

37%

11%

6%

3%

72%

42%

42%

42%

72%

0 20 40 60 80 100

Individual, team orcompany performance

Domestic economic conditions

Competition with other companies

Global economic conditions

Inflation

Elections

Other**

2% Don’t expect any factors to impact salaries

1% Not sure

** job market, business profit, etc.

1% - 5%

6% - 10%

11% - 15%

16% - 20%

13%

20%

25%

18%

21% - 30%

16% or above 74%

23%

31% - 40% 1%

0 20 40 60 80 100

15%

Unsure

66%YES

34%NO



9


Companies providing bonus as part of the remuneration package

Basis for bonuses over the next 12 months

Average percentage bonus of gross salary

88%

12%

0

20

40

60

80

100

Other**

Team performance

12%

Company performance

12%

Individual performance

11%

9%

5%

4%

4%

8%

69%

Team performance

Other*

Combination of all

* Fixed component of salary.1% - 5%

6% - 10%

11% - 15%

16% - 20%

8%

30%

20%

24%

21% - 30%

31% - 40%

41% - 50%

2%

1%

51% - 63% 2%

60% and above 5%

16% or above 74%

8%

0 20 40 60 80 100


10

market overviewATTRACTION AND RETENTION

Employer expectations for staff turnover in the next 12 months

Key reason employees are likely to leave*

0

20

40

60

80

100

Better training

and develop-

ment

Improve salary

Gain more seniority

Broaden experience/opportunity

to learn

** seek growth opportunities, working for MNC, etc.

Overseas opportuni-

ties

Other**

10%

22%

78%

27%

55%

43%

12%

Achieve better

work/life balance

₹

Strategy to attract returning Indian talent

29%

15%

YES

NO

Unsure

56%

51%YES

24%NO

25%UNSURE

29%

15%

YES

NO

Unsure

56%

34%YES

43%NO

23%UNSURE



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Strategies used to attract returning Indian talent* Channels used to source returning Indian talent*

Attractive employee value proposition

57%

Attractive business proposition

82%

Regional/global remit

38%

Relocation allowance

29%

Other^

2%

0 20 40 60 80 100

^ broader role.


57%


82%


38%


29%

Other**

2%

** broader role.


Recruitment consultants

Social media platforms

Job boards

Other****

72%

65%

55%

17%

Other (innovation opportunities, etc.) 2%

Local Newspaper 11%

**** internal referrals, networks, etc.

Most popular options offered to support employees’ work/life balance*

Other***

Increased maternity / paternity leave

Sabbatical leave

Alternative leave options (e.g. volunteering)

Team building/offsite activities

Flexible working arrangements

11%

40%

28%

68%

58%

23%

0 20 40 60 80 100

*** team activities, none of these, etc.


12


Combination of benefits offered to employees* Most popular tools for attraction and retention

13%

8%

7%

1%

78%

64%

55%

48%

88%

0 20 40 60 80 100

Healthcareinsurance

Mobile phone

Personal laptop

Parking

Company car

Travel pass

Income protection insurance

Other**

None

** food allowance, accomodation, term insurance, accidental insurance, etc.

Training and mentoring partnerships

Recognition and rewards

Global career opportunities

Work/life balance initiatives

Strong company culture

Structured career progression

3%

17%

6%

39%

30%

5%

0 20 40 60 80 100



13

market overviewwORkINg hOURS

Average weekly working hours

Change in average weekly working hours over the last 12 months

Main reason behind the increased working hours

36-40 hours 46-50 hours41-45 hours 51-55 hours

11% 42% 29% 13%

56 hours or more

5%

29%

15%

YES

NO

Unsure

56%6%

SIGNIFICANTLY INCREASED

(15+%)

69%STAYED THE

SAME

20%INCREASED(0 - 15%)

5%

REDUCED(0 - 15%)

Business growth

59%

Fewer headcount

20%

Other

9%

Staff leaving and not replaced

8%

Promotion

4%

0 20 40 60 80 100


14

FINANCE

Finance

F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E -F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S F I N A N C E H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R VI C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S F I N A N C E H U M A N R ES O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R KE T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C IA L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E SO U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K ET I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I AL S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S OU R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T IN G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L SE R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O UR C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I NG F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S ER V I C E S F I N A N C E H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A NR E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M AR K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A NC I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N RE S O U R C E S S A L E S & M A R K E T I N G

I N D I A 2 0 1 4 / 1 5

FINANCESALARY & EMPLOYMENT

FORECAST

Finance


15

FINANCE

Finance

RECRUITMENT ACTIVITY



Stronger (14%)


Steady (44%)


Weaker (9%)

31% 17%

52%

UnsureYes

No

Market observations:• Over the past 12 months, the hiring of finance professionals in India

has increased, and hiring activity remains strong into 2014. In line with positive predictions for the domestic economy, further growth in the finance field is expected over the next 12 months as multinational organisations continue to enter the local markets and existing operations expand their teams.

• The majority of hiring activity for finance professionals is currently occurring in Mumbai as most business headquarters are located in the city.

• Hiring is currently strongest in corporate finance and finance controllership. Organisations are beginning to strengthen their corporate finance teams in light of due diligence activity and ahead of expected merger and acquisition activity. Financial Controllers with the skills to act as business partners are also required within the finance function.

• Professionals with experience in taxation are in high demand, as taxation shifts from a cost centre to a profit centre and companies look to build a talent pipeline of professionals with the relevant skills. However, there is currently a shortage of professionals with proven experience in this area.

• Financial planning and analysis is also a growth area, as companies look to hire team members who can act as business partners during a time of expansion. Those with a background in financial planning and analysis have skills better suited to take on this responsibility than pure accountants. Expansion plans within the manufacturing sector are also driving this demand.

• International experience and experience working in a start-up environment, as well as strong financial fundamentals are highly regarded by employers in the current market. Multinational organisations value professionals with start-up experience as they have the skills to build operations from scratch in the region, while international experience is preferred in order to create a company culture that reflects international operations.



16

FINANCE

Finance




How workplace offers same opportunity to progress to senior/executive level roles*





None

13%


headcount

29%

58%



81%YES

10%MAYBE

9%UNSURE


48%

48%

38%

37%

24%

14%


Formal diversity policy with targets for increasingthe number of women in senior/executive positions

Range and availability of leadership trainingprovided to employees



Other**

** equal opportunity policy, etc.


17

FINANCE

Finance


Companies expecting to increase headcount the next 12 months

Prefered social media platforms used to source talent



Google+

Linkedin

Facebook

11%

78%

11%

67%YES

25%NO

8%UNSURE

49% 51%

Entry level (6%)

Mid-level (57%)

Management (25%)


Specialists (6%)


18

FINANCE

Finance

SALARY AND REMUNERATION





6% - 10%

11% - 15%

21% - 30%

31% - 40%

12%

12%

4%

43%

16% - 20% 29%

12%

3%

56%

46%

38%

38%

71% Domestic economic conditions

Individual, team or company performance

Inflation



Elections

Don’t expect any factors to impact salaries

1% - 5%

6% - 10%

11% - 15%

16% - 20%

13%

29%

23%

23%

21% - 30% 12%

56%YES

44%NO


Market observations:• High performers can continue to expect high salary increases of up to

18-20%, however average performers could likely see a drop in salary increases by almost 10%, down to approximately 8-12%.

• Chief Financial Officers will be awarded higher than average salary increases, as these positions are ultimately responsible for company growth and will be rewarded accordingly.

Average percentage salary increase over the next 12 months


4%


95%


1%

1% - 5%

6% - 10%

11% - 15%

16% - 20%

5%

29%

4%

61%

21% - 30% 1%

Salary increases over the next 12 months


19

FINANCE

Finance



87%

13%



Combination of all

12%

Company performance

12%

4%

4%

68%

* Fixed component of salary.

Team performance

Other*


1% - 5%

6% - 10%

11% - 15%

16% - 20%

7%

25%

18%

35%

21% - 30%

41% - 50%

51% - 60%

1%

1%

60% and above 7%

6%


20

FINANCE

Finance



Other**Improve salary

Gain more seniority


to learn


Achieve better

work/life balance

Overseas opportu-

nities

Better training and

develop-ment

8%10%

77%

31%

56%

36%

10%

₹

ATTRACTION AND RETENTION

Strategy in place to attract returning Indian talent Strategies used to attract returning Indian talent*


65%


82%


29%


12%

22%YES

50%NO

28%UNSURE

50%YES

24%NO

26%UNSURE


Market observations:• Over the past 12 months there has been an increase in the number of

Indian finance professionals returning home from offshore.

• Organisations are implementing clear diversity targets for middle management positions to increase gender diversity. In an effort to meet targets, these are being recorded as key result areas for Human Resources staff.


21

FINANCE

Finance


Channels used to source returning Indian talent* Most popular options offered to support employees’ work/life balance*



Job boards

Local Newspaper

59%

41%

35%

24%

Other** 18%

** internal referrals, networks, etc.Other***


Sabbatical leave




14%

35%

26%

60%

51%

21%

*** limited overtime, team activities, etc.








3%

19%

6%

44%

24%

4%15%

8%

5%

1%

78%

64%

53%

46%

79%Healthcare insurance

Mobile phone

Personal laptop

Parking

Company car

Travel pass

Other****


None

**** term insurance, accidental insurance, etc.



22

FINANCE

Finance

wORkINg hOURS



6% 37% 32% 17%

56 hours or more

8%



7%


(15+%)

65%STAYED THE

SAME


3%

REDUCED(0 - 15%)

1%

SIGNIFICANTLYREDUCED(15+%)

Business growth

45%

Fewer headcount

25%

Other^

13%


13%

Promotion

4%

^ business growth, increased governance etc.


23

FINANCE

Finance

Salary tableS

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. 3. Tier 1: listed MNC entities. 4. Tier 2: Non listed / local entities.

GENERALTier 1 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) N/A N/A N/A N/A 50–75 80–120 75+ 120+

CFO/Finance Director (small/medium organisation) N/A N/A 25–45 30–45 45–65 50–70 65+ 70+

CFO/Finance Director (shared services centre) N/A N/A N/A N/A 50–75 60–80 75+ 80+

GM Finance/Financial Controller (large organisation) N/A N/A 22-45 25–45 45–65 45–70 65+ 70+

GM Finance/Financial Controller (small/medium organisation) N/A N/A 20–35 20–40 35–50 40–60 50+ 60+

GM Finance/Financial Controller (Plant) N/A N/A 18–30 20–35 35–45 35–50 45+ 50+

Finance Manager (large organisation) N/A 12–18 20–25 20–30 35–45 N/A N/A N/A

Finance Manager (small/medium organisation) 10–15 10–15 15–25 18–30 25–35 N/A N/A N/A

Finance Manager (shared services centre) 10–15 10–15 15–25 18–30 25–45 30-50 N/A N/A

Financial & Planning Analysis 8–12 10–18 15–30 18–35 30–50 40–60 50+ 60+

Financial/Business Analyst 8–15 10–15 15–25 15–30 25–45 30-50 N/A N/A

Financial Accounting 8–15 10–15 15–25 15–30 25–35 30–50 N/A N/A

Tier 2 INR Lacs INR Lacs INR Lacs INR Lacs



CFO/Finance Director (large organisation) N/A N/A N/A N/A 40–60 70–80 60+ 90+

CFO/Finance Director (small/medium organisation) N/A N/A 20–35 25–40 35–50 40–60 50+ 60+

CFO/Finance Director (shared services centre) N/A N/A N/A 20–40 35-60 40–60 60+ 60+

GM Finance/Financial Controller (large organisation) N/A N/A 20–35 20–40 35–50 40–60 45+ 60+

GM Finance/Financial Controller (small/medium organisation) N/A N/A 15–30 20–35 30–45 35–50 45+ 50+

GM Finance/Financial Controller (Plant) N/A 10–15 12–25 15–25 25–40 25–45 40+ 45+

Finance Manager (large organisation) N/A 10–15 12–25 15–28 20–35 N/A N/A N/A

Finance Manager (small/medium organisation) 8–12 8–12 12–25 12–25 20–30 N/A N/A N/A

Finance Manager (shared services centre) 8–12 8–12 12–25 12–25 20–30 30-40 N/A N/A

Financial & Planning Analysis 8–15 8–15 15–25 15–28 25–40 25–35 42+ 45+

Financial/Business Analyst 8–12 8–12 12–25 12–25 20–30 N/A N/A N/A

Financial Accounting 8–12 8–12 12–25 12–25 20–30 25–40 N/A N/A


24

FINANCE

Finance

Salary tableS

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. 3. Tier 1: listed MNC entities. 4. Tier 2: Non listed / local entities.

SPECIALISTTier 1 INR Lacs INR Lacs INR Lacs INR Lacs



Finance Strategy 10–15 12–18 15–30 18–30 35–45 35–50 45+ 50+

Costing 8–12 10–15 12–20 15–20 20–35 20–40 N/A N/A

Accounts Receivable 8–12 8–12 12–25 12–25 25–35 25–35 N/A N/A

Accounts Payable 8–12 8–12 12–25 12–25 25–35 25–35 N/A N/A

Treasury 8–12 10–15 12–30 15–35 30–50 35–55 50+ 60+

Tax–Indirect 10–20 10–20 18–30 18–35 30–45 35–50 45+ 55+

Tax–Direct/International 10–15 12–20 15–35 20–40 35–55 40–60 55+ 60+

Corporate Finance N/A 12–25 15–30 18–35 30–45 35–50 45+ 50+

Investor Relations N/A N/A N/A N/A 30–50 40–60 50+ 60+

Internal Audit 8–12 10–15 15–30 15–30 30–50 30–50 50+ 50+




Finance Strategy 10–15 10–15 15–25 15-28 25–35 28–40 45+ 40+

Costing 8–10 8–12 10–20 12–20 20–30 20–30 N/A N/A

Accounts Receivable 8–10 8–10 10–20 10–20 20–30 20–35 N/A N/A

Accounts Payable 8–10 8–10 10–20 10–18 20–30 20–35 N/A N/A

Treasury 8–12 10–15 12–25 15–25 25–40 25–45 40+ 45+

T0ax–Indirect 8–12 10–15 12–25 15–25 25–40 25–45 40+ 45+

Tax–Direct/International 8–12 10–15 12–25 15–25 25–40 25–45 40+ 45+

Corporate Finance N/A 12–20 15–25 25–35 25–40 35–50 45+ 50+

Investor Relations N/A N/A N/A N/A 25–40 30–50 40+ 50+

Internal Audit 8–12 8-15 12–25 15–25 25–40 25–45 40+ 45+

PuBLIC ACCOuNTINGTier 1 INR Lacs INR Lacs INR Lacs INR Lacs



Audit 10–15 12–20 15–30 20–35 30–50 35–55 50+ 55+

Tax 10–15 12–20 15–30 20–35 35–50 35–55 50+ 55+

Transaction Advisory 10–15 12–20 15–30 20–35 30–50 35–55 50+ 55+




Audit 8–15 10–18 15–25 18–30 25–40 30–45 40+ 45+

Tax 8–15 10–18 15–25 18–30 25–40 30–45 40+ 45+

Transaction Advisory 8–15 10–18 15–25 18–30 25–40 30–45 40+ 45+

F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E -F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I AL S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S OU R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T IN G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L SE R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O UR C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I NG F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S ER V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U RC E S S A L E S & M A R K E T I N G F I N A N C I A L S E R V I C E S F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C ES S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F IN A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C I A L S E R V I C E S F I N AN C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C ES H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S AL E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A NC E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E SH U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A RK E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N CI A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R ES O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R KE T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C IA L S E R V I C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S F I N A N C I A L S E R V I C E S H U M A N R ES O U R C E S S A L E S & M A R K E T I N G H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E RV I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R CE S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F IN A N C E F I N A N C I A L S E R V I C E S F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N AN C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C ES H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S AL E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A NC E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E SH U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A LE S & M A R K E T I N G

SALARY & EMPLOYMENTFORECAST

FINANCIALSERVICES

I N D I A 2 0 1 4 / 1 5

Financial Services

SA L A RY & E M P L OY M E N T F O R E CAS T 2 0 1 4 / 1 5FINANCial services

26Financial Services




Stronger (14%)


Steady (36%)


Weaker (7%)

36% 11%

53%

Unsure

Yes

No

Market observations:• Over the past 12 months there has been an increase in hiring activity

within India’s banking sector, with a high level of activity continuing throughout 2014. This activity is expected to rise further in 2015.

• There have been notable differences in hiring activity on a regional level, with multinational companies leading a shift away from Mumbai as a financial services hub over the past five years. Bangalore, Pune, Delhi NCR, Chennai and Hyderabad have emerged as the top locations for international companies seeking a lower cost alternative to headquarters in Mumbai. This is leading to significant hiring activity in these cities.

• Key factors contributing to the current uplift in hiring include more value-add onshore roles moving to India, Shared Services Centres (SSCs) relocating from Singapore to India, and additional foreign investment in the local banking sector.

• As international banks face increased pressure to lower their cost base, India is being seen as an attractive location to house most value-add roles within finance, risk, analytics, and product-based technology.

• India’s national election has led to improved sentiment in the local economy, resulting in increased business activity and hiring. This is being seen most clearly in investment banks, private equity and venture capital funds and consulting firms.

• The global economy has also played a key role in increased activity in India’s banking sector, with high levels of Foreign Institutional Investors (FIIs) and Foreign Direct Investment seen so far in 2014.

• Most existing finance companies in India are operating with a year-on-year growth model, increasing headcount as current teams grow confident with existing functions. Some are adding new business units such as product control and valuations.

• Hiring is currently strong across a number of industry areas including: finance, analytics, risk, investment banking, private equity and venture capital investment, real estate and management consulting.

• Multinational banks are looking to create Centres of Excellence (CoEs) across credit and market risk in India, which is contributing to positive growth forecasts for finance roles.

• Existing companies are strengthening their analytics and reporting teams, creating job opportunities in those areas. The availability of talented and qualified statisticians and analytics professionals (often at a PhD level) at a relatively lower cost than overseas markets is driving greater demand for Big Data and Machine Learning roles. This is positioned to increase as more companies begin to understand the importance of generating insights from large amounts of unstructured data to stay ahead of the competition and capitalise on changing consumer trends.

• Market and credit risk are key concerns for finance companies globally, creating growth in this area locally. Introduction of new global regulatory standards including Comprehensive Capital Analysis and Review (CCAR) and Basel III have contributed to these increased opportunities.

• Other roles in high demand by hiring managers include Investment Banking Analysts and Associates in global banks, and Investment Banking Directors in domestic institutions, Private Equity and Venture Capital Analysts at all levels across both domestic and global firms as well as Management Consultants and Real Estate professionals. These roles are expected to remain in demand over the next 12 months.

• Professionals with high levels of education and experience are in particularly high demand. Those with Masters degrees or PhD-level qualifications in addition to significant experience in risk, regulatory reporting and/or product control are highly sough-after.











86%YES

7%NO

7%UNSURE


66%

61%

50%

37%

24%

3%

Formal diversity policy with targets for increasing thenumber of women in senior/executive positions





Other***

*** top management focus on hiring senior women, etc.

Other**

9%

91%



** source talent internationally, etc.

* more than one option could be selected






Preferred social media platforms used to source talent (Choice of Linkedin, Facebook, Google+ and Twitter)


Linkedin 100%

79%YES

17%NO

4%UNSURE

77%

23%

Mid-level (33%)

Management (33%)


Specialists (22%)




Salary increases over the next 12 months

Average percentage salary increase over the next 12 months


2%


85%


11%


2%

6% - 10%

11% - 15%

16% - 20%

48%

14%

38%

Market observations:• High salary increases are on offer for most professionals

changing jobs in the banking sector. Those with niche skills or in critical roles can expect a salary up to 25-35% higher in a new role, and a yearly increase of up to 15% in the same role. Less business-critical roles can still command a salary hike of 20-25% in a new role. Front office teams have seen salaries rise by 20-25% even in the same role over the past 12 months.

• Mumbai-based professionals are currently earning 10-15% more than their counterparts in similar roles in Delhi NCR or Bangalore, due to the high cost of living in the city.

• A number of roles will be awarded above average salary increases due to a shortage of quality talent in these areas. In addition, many of these roles attract returning Indian talent, which demands a premium salary.

• Key specialist areas positioned for an above average salary increase include product control, treasury, regulatory reporting, and Legal Entity Controllers in finance. Within risk, market and credit risk will be awarded the largest salary increases. Analytics roles in the areas of Big Data, risk analytics and Machine Learning can also command higher salary increases. Other key areas where salary growth is strong include investment banking, private equity, real estate and management consulting.








6% - 10%

11% - 15%

21% - 30%

31% - 40%

7%

26%

2%

34%

16% - 20% 31%

2%

2%

77%

61%

59%

30%

80% Global economic conditions




Inflation

Elections

Other**

2% Don’t expect any factors to impact salaries

2% Not sure

** market rate, negotiations, etc.

1% - 5%

6% - 10%

11% - 15%

16% - 20%

11%

18%

25%

7%

21% - 30% 39%

86%YES

14%NO

* more than one option could be selected





100%


7%

Team performance

11% 5%

77%

Company performance


Combination of all


1% - 5%

6% - 10%

11% - 15%

16% - 20%

2%

45%

23%

9%

21% - 30%

30% - 41%

41% - 50%

7%

2%

11%






0

20

40

60

80

100

Improve salary

Gain more seniority


to learn

Overseas opportuni-

ties

Better training

and develop-

ment

Achieve better

work/life balance

30%

70%

39%

70%

52%

4%

₹

Strategy in place to attract returning Indian talent Strategies used to attract returning Indian talent


83%


65%


57%


43%

52%YES

23%NO

25%UNSURE

52%YES

9%NO

39%UNSURE

* more than one could be selected

Market observations:• A number of innovative attraction and retention strategies are

beginning to emerge in India’s banking sector, including better engagement for mid level management, enhanced communication throughout the functional and organisational hierarchy and improved internal mobility between functions for junior to mid level candidates. In addition, some employees are being offered promotions that come with financial incentives such as bonds and increasing equity offerings in order to motivate long term commitment.

• Companies are investing in strategies to attract returning Indians, such as offering a defined vision for career growth in addition to higher salaries and compensation. Businesses are also utilising international recruitment firms to help them build va talent pipeline.

• Gender diversity remains a key concern for employers in India, with companies implementing strategies that aim to present female employees with the same career progression opportunities as their male counterparts. Current approaches include improved maternity leave policies, education programs for internal decision-makers to raise awareness and highlight the importance of diversity, and increased consideration of female professionals for leadership roles.






Job boards


Local Newspaper

83%

83%

61%

13%

Other** 9%

** internal, referrals, networks, etc.

Other***

Sabbatical leave





7%

45%

45%

77%

66%

32%









3%

13%

5%

50%

24%

5%

* more than one could be selected

7%

7%

2%

70%

68%

59%

52%

89%Healthcareinsurance

Company car

Mobile phone

Personal laptop

Parking

Travel pass


Other****

**** term insurance, accidental insurance, etc.



wORkINg hOURS



5% 55% 32% 7%

56 hours or more

1%



5%


(15+%)

68%STAYED THE

SAME


9%

REDUCED(0 - 15%)

Business growth

64%

Fewer headcount

27%

Promotion

9%


35

Salary tableS

Financial Services

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. 3. Tier 1: Captives for MNC across India. 4. Tier 2: Third party consulting compaines providing solution to banking clients.

FINANCE – CENTRAL FINANCETier 1 INR LacsRoles AVP VP Director Managing Director

Bangalore/ Chennai/ Delhi NCR

Mumbai Bangalore/ Chennai/ Delhi NCR



Mumbai

CFO N/A N/A N/A N/A 60–85 60–90 85+ 90+

Financial Reporting 18–28 20–30 28–45 28–50 45–70 50–75 70+ 75+

Tax Accountant 18–28 20–30 28–45 28–50 45–70 50–75 70+ 75+

Management Reporting 18–28 20–30 28–45 28–50 45–70 50–75 70+ 75+

Legal Entity Control 18–28 20–30 28–45 28–50 45–70 50–75 70+ 75+

Regulatory Reporting 18–28 20–30 28–50 28–55 45–70 55–80 75+ 80+

Tier 2 INR LacsRoles AVP VP Director Managing Director





Mumbai

CFO N/A N/A N/A N/A 50–75 50–80 75+ 80+

Financial Reporting 16–24 18–25 24–40 25–45 40–60 45–65 60+ 65+

Tax Accountant 16–24 18–25 24–40 25–45 40–60 45–65 60+ 65+

Management Reporting 16–24 18–25 24–40 25–45 40–60 45–65 60+ 65+

Legal Entity Control 16–24 18–25 24–40 25–45 40–60 45–65 60+ 65+

Regulatory Reporting 16–26 18–28 26–45 28–50 45–65 50–70 65+ 70+

FINANCE – FINANCE PROjECTTier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai

Business Analyst/ Change Management

18–28 20–30 28–45 28–50 45–70 50–75 70+ 75+






Mumbai

Business Analyst/ Change Management

16–24 18–25 24–40 25–45 40–60 45–65 60+ 65+


36

Salary tableS

Financial Services

Please note:


FINANCE – PRODuCT CONTROLTier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai

Money Market 18–28 20–30 28–50 28–55 45–75 55–80 75+ 80+

Equities 18–28 20–30 28–50 28–55 45–75 55–80 75+ 80+

Commodities & Derivatives 18–28 20–30 28–50 28–55 45–75 55–80 75+ 80+

OPERATIONSTier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai

Head of Operations/COO N/A N/A N/A N/A 50–80 60–90 80+ 90+

Project Management 20–28 20–30 28–40 30–45 40–70 45–75 70+ 75+

Quality 20–28 20–30 28–40 30–45 40–70 45–75 70+ 75+

Transitions 20–25 20–28 25–40 25–45 40–70 45–75 70+ 75+

Payments & Cash Management 20–28 20–30 28–40 30–45 40–70 45–75 70+ 75+






Mumbai

Head of Operations/COO N/A N/A N/A N/A 50–70 50–75 70+ 75+

Project Management 16–26 16–28 26–35 28–40 40–60 40–65 60+ 65+

Quality 16–26 16–28 26–35 28–40 40–60 40–65 60+ 65+

Transitions 15–25 15–25 25–35 25–40 40–60 40–65 60+ 65+

Payments & Cash Management 15–25 15–25 26–35 28–40 40–60 40–65 60+ 65+






Mumbai

Money Market 16–26 18–28 26–45 28–50 45–65 50–70 65+ 70+

Equities 16–26 18–28 26–45 28–50 45–65 50–70 65+ 70+

Commodities & Derivatives 16–26 18–28 26–45 28–50 45–65 50–70 65+ 70+


37

Salary tableS

Financial Services

Please note:


OPERATIONS – MIDDLE OFFICETier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai

Client Servicing 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Trade Support/Capture 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Reference Data 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Corporate Actions 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Business Management 20–28 20–30 28–40 30–45 40–70 45–75 70+ 75+

Change Management 20–28 20–30 28–40 30–45 40–70 45–75 70+ 75+

Fund Administration 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+






Mumbai

Client Servicing 15–25 15–25 26–35 28–40 40–60 40–65 60+ 65+

Trade Support/Capture 15–25 15–25 26–35 28–40 40–60 40–65 60+ 65+

Reference Data 15–25 15–25 26–35 28–40 40–60 40–65 60+ 65+

Corporate Actions 15–25 15–25 26–35 28–40 40–60 40–65 60+ 65+

Business Management 16–26 16–28 26–35 28–40 40–60 40–65 60+ 65+

Change Management 16–26 16–28 26–35 28–40 40–60 40–65 60+ 65+

Fund Administration 15–25 15–25 26–35 28–40 40–60 40–65 60+ 65+


38

Salary tableS

Financial Services

Please note:


OPERATIONS – BACK OFFICETier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai

Collections 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Settlement 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Reconciliation 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Documentation 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Collateral Management 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

ISDA Documentation 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Transaction Management 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Trade Finance Operations 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Credit Administration/ Loan Operations

18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+






Mumbai

Collections 15–25 15–25 25–35 28–40 40–60 40–65 60+ 65+

Settlement 15–25 15–25 25–35 28–40 40–60 40–65 60+ 65+

Reconciliation 15–25 15–25 25–35 28–40 40–60 40–65 60+ 65+

Documentation 15–25 15–25 25–35 28–40 40–60 40–65 60+ 65+

Collateral Management 15–25 15–25 25–35 28–40 40–60 40–65 60+ 65+

ISDA Documentation 15–25 15–25 25–35 28–40 40–60 40–65 60+ 65+

Transaction Management 15–25 15–25 25–35 28–40 40–60 40–65 60+ 65+

Trade Finance Operations 15–25 15–25 25–35 28–40 40–60 40–65 60+ 65+

Credit Administration /Loan Operations

15–25 15–25 25–35 28–40 40–60 40–65 60+ 65+


39

Salary tableS

Financial Services

Please note:


AuDIT, COMPLIANCE & RISKTier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai

Internal Audit 20–28 20–30 28–40 30–45 40–70 45–75 70+ 75+

KYC/AML ( Anti Money Laundering)

18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Regulatory Compliance 20–28 20–30 28–40 30–45 40–70 45–75 70+ 75+

Market Risk 20–35 20–35 35–50 35–50 50–80 50–80 80+ 80+

Credit Risk 20–30 20–30 30–45 30–45 45–70 45–75 70+ 75+

Operational Risk 20–30 20–30 30–45 30–45 45–70 45–75 70+ 75+






Mumbai

Internal Audit 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

KYC/AML ( Anti Money Laundering)

15–25 15–25 25–35 28–40 40–60 40–65 60+ 65+

Regulatory Compliance 18–25 20–30 25–40 30–45 40–70 45–75 70+ 75+

Market Risk 15–25 15–25 25–40 25–40 40–70 40–70 70+ 70+

Credit Risk 15–25 15–25 25–35 25–35 35–50 35–60 60+ 60+

Operational Risk 15–25 15–25 25–35 25–35 35–50 35–60 60+ 60+

ANALYTICSTier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai

Marketing Analytics 20–30 20–30 30–50 30–50 50–80 50–80 80+ 80+

Risk Analytics 20–30 20–30 30–50 30–50 50–80 50–80 80+ 80+

Web Analytics 20–30 20–30 30–50 30–50 50–80 50–80 80+ 80+

Statistical Modelers 20–30 20–30 30–50 30–50 50–80 50–80 80+ 80+

Analytics Consulting 20–30 20–30 30–50 30–50 50–80 50–80 80+ 80+

Big Data/Machine Learning 20–35 20–35 35–60 35–60 60–100 60–100 100+ 100+

Data Scientist 20–35 20–35 35–60 35–60 60–100 60–100 100+ 100+






Mumbai


Risks Analytics 18–25 18–25 25–40 25–40 40–70 40–70 70+ 70+

Web Analytics 18–25 18–25 25–40 25–40 40–70 40–70 70+ 70+




Data Scientist 20–30 20–30 30–50 30–50 50–80 50–80 80+ 80+


40

Salary tableS

Financial Services

Please note:


FRONT OFFICE – INvESTMENT BANKING (MNC BANKS)Tier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai

Corporate Finance/M&A 45–55 55–65 75–85 85–95 90–110 100–125 150–200 175–250

FRONT OFFICE – PRIvATE EquITY & vCINR Lacs

Roles AVP VP Director Managing Director





Mumbai

Global Fund 45–55 55–75 65–95 85–125 100–150 150–200 150–250 200–350

Fund Size USD 200–700 mn 35–45 45–55 55–85 75–110 90–125 125–175 125–175 175–250

Fund Size<USD 200 mn 25–35 35–45 45–65 65–85 70–100 100–150 100–150 150–200






Mumbai

Corporate Finance/M&A 35–45 45–55 65–75 75 – 85 80–90 90–110 125–150 150–200

FRONT OFFICE – INvESTMENT BANKING (DOMESTIC BANKS)Tier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai







Mumbai


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. 3. Tier 1: Fund size > 1bn US$ for Private Equity & Venture Capital funds; Global MNC banks for Private Banking segment. 4. Tier 2: Fund size < 1bn US$ for Private Equnity & Venture Capital Funds; Domestic private banks for Private Banking segment.


41

Salary tableS

Financial Services

Please note:


ANALYTICSTier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai


Risk Analytics 20–30 20–30 30–50 30–50 50–80 50–80 80+ 80+

Web Analytics 20–30 20–30 30–50 30–50 50–80 50–80 80+ 80+




Data Scientist 20–35 20–35 35–60 35–60 60–100 60–100 100+ 100+






Mumbai


Risks Analytics 18–25 18–25 25–40 25–40 40–70 40–70 70+ 70+

Web Analytics 18–25 18–25 25–40 25–40 40–70 40–70 70+ 70+




Data Scientist 20–30 20–30 30–50 30–50 50–80 50–80 80+ 80+

FRONT OFFICE – PRIvATE BANKINGTier 1 INR LacsRoles AVP VP Director Managing Director





Mumbai

Private Bankers 15–25 20–35 25–40 35–50 40–50 50–60 N/A N/A






Mumbai

Private Bankers 10–20 15–30 20–35 30–45 35–45 45–55 N/A N/A

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. 3. Tier 1: Fund size > 1bn US$ for Private Equity & Venture Capital funds; Global MNC banks for Private Banking segment. 4. Tier 2: Fund size < 1bn US$ for Private Equnity & Venture Capital Funds; Domestic private banks for Private Banking segment.


42

human resources

Human Resources

F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E -F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M AN R E S O U R C E S S A L E S & M A R K E T I N G H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A LS E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G H U M A N R E S O U R C E S F I N A N C E H U M A N R E S O UR C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I NG F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S ER V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S S A L E S & M A R K E TI N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A LS E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S OU R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T IN G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L SE R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O UR C E S F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I AL S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S S A L E S & M A RK E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N CI A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R ES O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R KE T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C IA L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E SO U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K ET I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I AL S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S OU R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T IN G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L SE R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O UR C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I NG F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S ER V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U RC E S S A L E S & M A R K E T I N G S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E SS A L E S & M A R K E T I N G

HUMANSALARY & EMPLOYMENT

FORECAST

RESOURCES

I N D I A 2 0 1 4 / 1 5

Human Resources


43

human resources

Human Resources




Stronger (30%)


Steady (29%)


Weaker (3%)

39% 16%

45%

No

UnsureYes

Market observations:• Over the past 12 months, hiring activity for Human Resources (HR)

professionals has been stable across a range of industries with no change in permanent headcount, and current hiring activity is also stable. However, employers are expected to increase permanent headcount over the next 12 months, with strong hiring activity predicted due to increased confidence following the national elections.

• Highest levels of recruitment for HR professionals are currently being seen in three locations: Mumbai, as the majority of head office spaces are located in the area, and Bangalore and Gurgaon as more Shared Service Centres (SSCs) are being established in these locations.

• Hiring is currently strongest within the pharmaceuticals, IT, and manufacturing industries as multinational companies continue to enter the market, creating new job opportunities for experienced HR talent. In addition, merger and acquisition activity in the pharmaceuticals industry has created movement within HR teams. IT is currently a growth area due to an increasing number of international companies looking at India as a location for outsourced roles in SSCs, and this is creating a need for more HR professionals to manage hiring and talent.

• Talent Managers and HR Business Partners are currently in high demand as companies place increased focus on reducing turnover rates – particularly with younger team members – via talent management strategies and clear succession plans. Employers are looking for HR professionals with learning and development and talent management skills in particular, as HR professionals with these skills can assist in increasing job satisfaction and therefore improving staff retention.

• There has been an increase in returning Indian talent over the past 12 months, as the job market continues to show potential for growth.



44

human resources

Human Resources










Source talent from

overseas

None Other**

4% 2% 2%


headcount

7%

85%



0

20

40

60

80

100

** training, career frameworks, high-potential management, etc.

29%

15%

YES

NO

Unsure

56%

75%YES

18%MAYBE

7%UNSURE

48%

39%

38%

33%

30%

13%



Range and availability of leadership trainingprovided to employees

Formal diversity policy with targets for increasing the numberof women in senior/executive positions


Other***

*** equal opportunity policy, anti-discriminatory culture, etc.


45

human resources

Human Resources



Companies expecting to increase headcount over thenext 12 months



Google+

Linkedin

Facebook

1%

98%

1%

Entry level (16%)

Mid-level (50%)

Management (9%)


Specialists (16%)

77%

23%

0

20

40

60

80

100

29%

15%

YES

NO

Unsure

56%

70%YES

26%NO

4%UNSURE


46

human resources

Human Resources




2%


92%


6%

0 20 40 60 80 100

1% - 5%

6% - 10%

11% - 15%

16% - 20%

6%

44%

6%

43%

21% - 30%

16% or above 74%

1%

0 20 40 60 80 100

Market observations:• Salary levels have remained consistent over the past 12 months, with

little difference between geographical locations. Most HR professionals prefer to receive a mix of financial and non-financial rewards.

• HR professionals in multi-site roles or those with an international remit are expected to receive above average salary increases in 2014. This is due to the broader scope of these roles and experience in global best pratices.


1% - 5%

6% - 10%

11% - 15%

21% - 30%

3%

32%

15%

8%

Above 40% 3%

31% - 40% 3%

16% - 20%

41% - 50%

35%

2%

60% and above 2%

0 20 40 60 80 100


47

human resources

Human Resources


Average salary increase to hire new staff Factor most likely to impact salary levels in the next 12 months*


10%

5%

54%

49%

42%

34%

70%

37%

11%

6%

3%

72%

42%

42%

42%

72%

0 20 40 60 80 100




Inflation


Elections

Other**

2% Not sure

**market rate, negotiations, etc.

1% - 5%

6% - 10%

11% - 15%

16% - 20%

13%

19%

24%

18%

21% - 30%

16% or above 74%

24%

31% - 40% 2%

0 20 40 60 80 100

15%

Unsure

65%YES

35%NO



48

human resources

Human Resources





85%

15%

0

20

40

60

80

100


Other**

Team performance

11%

12%

Company performance

12%

9%

5%

Other**

8%

8%

67%

** Fixed component of salary.

Combination of all

Team performance

2%


11%

Company performance

12%

Other*

8%

67%

* Fixed component of salary.

Combination of all

Team performance

2%

1% - 5%

6% - 10%

11% - 15%

16% - 20%

9%

25%

20%

32%

21% - 30%

41% - 50%

51% - 60%

1%

2%

60% and above 8%

16% or above 74%

3%

0 20 40 60 80 100


49

human resources

Human Resources



Key reason employees are likely to leave**

0

20

40

60

80

100


Gain more seniority


to learn


Overseas opportuni-

ties

Better training and

support

11%17%

81%

34%

42% 42%

13%

Achieve better

work/life balance

₹

29%

15%

YES

NO

Unsure

56%

55%YES

20%NO

25%UNSURE


Strategy in place to attract returning Indian talent Strategy used to attract returning Indian talent*

29%

15%

YES

NO

Unsure

56%

41%YES

42%NO

17%UNSURE


81%


50%


31%


29%

Other***

4%

0 20 40 60 80 100

*** broader role.

Market observations:• Companies are beginning to place greater emphasis on retaining

current employees. There has been an increase in the number of employers introducing performance-related financial incentives, such as bonuses and variable pay rates. In addition, internal job opportunities and succession plans are emerging as key retention strategies.

• Most companies are looking to build diversity in their teams, and are ensuring at least one diversity candidate is interviewed for each role.


50

human resources

Human Resources






Job boards

Other*

75%

69%

52%

25%


Local Newspaper 8%

*internal referrals, networks, etc.



Job boards

Other**

75%

69%

52%

25%

Local Newspaper 8%

**internal referrals, networks, etc.Other****


Sabbatical leave




14%

42%

26%

68%

58%

21%

0 20 40 60 80 100

**** team activities, none of these, etc.

Other***


Sabbatical leave




14%

42%

26%

68%

58%

21%

*** team activities, none of these, etc.

11%

9%

7%

2%

80%

60%

56%

41%

92%

0 20 40 60 80 100

Healthcareinsurance

Mobile phone

Personal laptop

Parking

Company car

Travel pass

Other****


None

**** food allowance, accidental insurance etc.






Strong company cultrure

4%

13%

8%

37%

34%

4%

0 20 40 60 80 100



51

human resources

Human Resources

wORkINg hOURS



18% 41% 26% 12%

56 hours or more

3%



6%


(15+%)

72%STAYED THE

SAME


6%

REDUCED(0 - 15%)

Business growth

69%

Fewer headcount

12%

Other*

12%


7%

* Merger & Acquisitons, market slow down etc.


52

human resources

Human Resources

SALARY TAbLES

COMMERCE & INDuSTRYTier 1 INR LacsRoles 8 to 12 years 12 to 16 years > 16 years

Delhi Mumbai Delhi Mumbai Delhi Mumbai

Head of Human Resources (large companies) N/A N/A 70-80 80-100 80+ 100+

Head of Human Resources (small/medium sized companies)

35-45 40-50 50-60 60-70 70+ 80+

HR Generalist / Business Partner 20-30 30-40 40-50 50-60 50+ 60+

Learning & Development 20-35 30-45 45-55 50-70 45+ 60+

Compensation & Benefits 25-35 35-45 40-60 50-70 70+ 80+

Talent Acquisition 20-25 20-30 30-35 35-40 45+ 50+

Talent Management / OD 20-35 30-45 45-55 50-70 45+ 60+

Industrial Relations 15-20 18-30 25-32 25-35 35+ 40+

HR Operations / Payroll / HR IS 15-20 20-30 25-30 30-40 30+ 40+

HR Consulting 25-35 35-50 40-60 50-70 70+ 80+

Tier 2 INR LacsRoles 8 to 12 years 12 to 16 years > 16 years




15-25 20-30 32-46 25-35 30+ 35+





Talent Management / OD 20-35 30-45 45-55 50-70 45+ 60+

Industrial Relations 8-10 9-15 10-15 15-20 25+ 30+


HR Consulting 20-30 25-35 25-35 35-50 50+ 60+

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.

3. Tier 1: listed MNC entities.

4. Tier 2: Non listed / local entities.


53

human resources

Human Resources

SALARY TAbLES

BANKING & FINANCIAL SERvICESTier 1 INR LacsRoles 8 to 12 years 12 to 16 years > 16 years




N/A N/A 45-65 60-80 70+ 80+






Tier 2 INR LacsRoles 8 to 12 years 12 to 16 years > 16 years




N/A N/A 30-50 40-60 50+ 60+






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.

3. Tier 1: listed MNC entities.

4. Tier 2: Non listed / local entities.


54

SALES & marketing

Sales & Marketing

F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E -F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E FI N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N \ S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T IN G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L SE R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O UR C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I NG F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S ER V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U RC E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N GF I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E RV I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R CE S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F IN A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V IC E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E SS A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I NA N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I CE S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S SA L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N AN C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C ES H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S AL E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A NC E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E SH U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A LE S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N CE F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S HU M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L ES & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C EF I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H UM A N R E S O U R C E S S A L E S & M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S& M A R K E T I N G F I N A N C E F I N A N C I A L S E R V I C E S H U M A N R E S O U R C E S S A L E S & M A R K E T I N G

SALARY & EMPLOYMENT

SALES & MARKETINGFORECAST

I N D I A 2 0 1 4 / 1 5

Sales & Marketing


55

SALES & marketing

Sales & Marketing




Stronger (17%)


Steady (33%)


Weaker (10%)

38% 10%

52%

UnsureYes

No

Market observations:• Hiring activity within sales and marketing is currently strong. Permanent headcount has

increased over the past 12 months and is expected to grow further into 2015.

• The majority of hiring activity is currently occurring in the FMCG, retail and healthcare &

life sciences sectors. FMCG faced difficulties last year, however it still presents a major

growth area as domestic consumption increases with a major focus on rural and modern

trade channels. New alcohol providers are entering the market and distributor-led

businesses is coming into its own in India. In retail, international single brand retailers are

entering the local market and require talented retail professionals to support their growth.

In healthcare & life sciences, multinational companies are shifting from a distribution

model and are instead establishing bases in India directly. This is being seen in the area

of medical devices. In addition, multinational healthcare service providers are setting up

partnerships with local businesses in order to establish a presence in India

• The majority of hiring activity is currently occurring in Delhi NCR and Mumbai as most

company headquarters are based in these cities. A high level of hiring activity, both in

terms of new headcount and replacement roles, is being seen within FMCG in these cities.

• Organisations are showing enthusiasm to expand into markets outside of the major

cities, leading to demand for professionals with rural marketing skills in both FMCG

and healthcare & life sciences. Growth in the healthcare sector, for example, is driving

increased demand for sales professionals in Hyderabad, Bangalore and Chennai, however

the majority of roles in this sector remain in Delhi NCR and Mumbai.

• There is high demand for marketing professionals who can drive innovation in FMCG, as

organisations develop new ways to reach consumers. Companies are currently looking

to increase the number of touch points with their customers, especially in rural areas, by

defining creative sales channels. In addition, support roles such as sales development and

customer and trade marketing have become critical as organisations mature and develop

better team structures.

• In retail, professionals with operational and merchandising skills are in high demand as

more single brand companies enter the market from Europe, the UK and US. As India’s

retail industry remains relatively young, professionals with the required experience within

retail are in short supply, so companies are looking to attract candidates from non-retail

backgrounds in innovative ways.

• In healthcare & life sciences, customer demand has grown, leading to greater demand for

Key Account Managers. In addition, government investment into healthcare has increased,

which has created more job opportunities for professionals in Government tendering roles.

As the number of healthcare products on the market reaches saturation point, marketing

professionals with creative and innovative campaign skills are required to identify a point

of difference and drive revenue growth.

• Marketing and sales professionals with high levels of education and significant experience,

especially in larger or multinational companies, are in high demand. FMCG companies

are looking for professionals who attended Top Tier B schools and have 7-10 years of

experience in major FMCG organisations. In retail, experience working in a western

market is highly valued by prospective employers. In healthcare & life sciences, marketing

professionals who attended Tier 1 B schools and have 4-8 years of experience and sales

professionals who attended Tier 2 B schools and have 8-12 years of experience in Key

Account Management are in high demand.



56

SALES & marketing

Sales & Marketing





Evidence of equal opportunity to progress to senior/ executive roles’*




29%

15%

YES

NO

Unsure

56%

82%YES

10%MAYBE

8%UNSURE

59%

56%

41%

38%

31%

3%





Formal diversity policy with targets for increasing the number of women in senior/executive positions

Other**

** equal opportunity policy, etc.

None

6%



88%

6%


headcount

0

20

40

60

80

100


57

SALES & marketing

Sales & Marketing






Google+

Linkedin

6%

94%

0 20 40 60 80 100

Entry level (17%)

Mid-level (33%)

Management (17%)


Specialists (25%)

29%

15%

YES

NO

Unsure

56%

66%YES

17%NO

17%UNSURE

69%

31%

0

20

40

60

80

100


58

SALES & marketing

Sales & Marketing




83%


13%


4%

0 20 40 60 80 100

1% - 5%

6% - 10%

11% - 15%

16% - 20%

13%

39%

11%

37%

16% or above 74%

0 20 40 60 80 100

Market observations:• Annual salary increases for sales and marketing professionals have

been 12% on average in retail and healthcare & life sciences, while FMCG professionals have received slightly higher rises at around 12-15%.

• Professionals with niche skillsets are able to command higher salaries, as employers often have to look outside their own industry to identify talent and offer premiums in order to attract these candidates. Professionals likely to be awarded above average salaries increases include those in shopper/customer/trade marketing as well as those with sales experience in FMCG obtained in rural markets. Core marketing jobs in the retail industry are also expected to pay an above average salary, while professionals who can support new product launches and those with Key Account Management experience in healthcare & life sciences can also command higher salary increases.

13%

4%

67%

48%

48%

38%

81%

37%

11%

6%

3%

72%

42%

42%

42%

72%

0 20 40 60 80 100





Inflation

Elections


4% Other**

** job market resolution


1% - 5%

6% - 10%

11% - 15%

21% - 30%

4%

30%

13%

13%

16% - 20%

Above 40% 3%

40%

0 20 40 60 80 100


59

SALES & marketing

Sales & Marketing





13%

4%

67%

48%

48%

38%

81%

37%

11%

6%

3%

72%

42%

42%

42%

72%

0 20 40 60 80 100





Inflation

Elections


4% Other**

** job market resolution

1% - 5%

6% - 10%

11% - 15%

16% - 20%

15%

10%

23%

23%

21% - 30%

16% or above 74%

27%

31% - 40% 2%

0 20 40 60 80 100

15%

Unsure

65%YES

35%NO



60

SALES & marketing

Sales & Marketing





Other**

Team performance

14%

12%

Company performance

20%

9%

5%

8%

66%

Combination of allIndividual performance

1% - 5%

6% - 10%

11% - 15%

16% - 20%

10%

34%

22%

5%

21% - 30%

31% - 40%

51% - 60%

5%

2%

60% and above 2%

16% or above 74%

20%

0 20 40 60 80 100

85%

15%

0

20

40

60

80

100


61

SALES & marketing

Sales & Marketing




0

20

40

60

80

100


Gain more seniority


to learn

** seek growth opportunities, etc.

Better training and

develop-ment

Achieve better

work/life balance

Overseas opportuni-

ties

14%19%

76%

24%

76%

48%

14%

₹

29%

15%

YES

NO

Unsure

56%

44%YES

31%NO

25%UNSURE


Strategy in place to attract returning Indian talent Strategies used to attract returning Indian talent*

29%

15%

YES

NO

Unsure

56%

21%YES

52%NO

27%UNSURE


60%


80%


50%


10%

0 20 40 60 80 100

Market observations:• Some new retention strategies have started to emerge to assist

employers hold on to their best talent. These include imposing a strict and lengthy notice period (often up to three months) after resignation, rendering employees unattractive to potential employers. Career progression opportunities via management courses is also being implemented as a strategy to retain staff, particularly within healthcare & life sciences.

• In terms of financial retention strategies, some companies are splitting employees’ annual bonus, paying 50% initially and deferring the remainder for up to 18 months.


62

SALES & marketing

Sales & Marketing




Other***



Sabbatical leave



6%

42%

23%

75%

63%

21%

0 20 40 60 80 100


Other**



Sabbatical leave



6%

42%

23%

75%

63%

21%

** limited overtime, team activities, etc.



Job boards

90%

70%

40%


19%

13%

10%

85%

75%

58%

48%

90%

0 20 40 60 80 100

Healthcare insurance

Mobile phone

Personal laptop

Parking

Company car

Travel pass


Other****

***** term insurance accidental insurance, etc.

19%

13%

10%

85%

75%

58%

48%

90% Healthcare insurance

Mobile phone

Personal laptop

Parking

Company car

Travel pass


Other***

*** term insurance accidental insurance, etc.







1%

26%

9%

32%

28%

4%

0 20 40 60 80 100


Market observations:• Organisations are placing increasing focus on gender diversity ratios,

with formal plans in place to increase the percentage of female to male employees in senior roles. The retail sector is currently displaying the most success in this area, with strong engagement plans and internal mobility opportunities. Within healthcare & life sciences, employers are paying a premium to recruiters who are able to secure top female talent in order to address the male dominance within the sector.


63

SALES & marketing

Sales & Marketing

wORkINg hOURS



6% 44% 29% 17%

56 hours or more

4%



4%


(15+%)

65%STAYED THE

SAME


4%

REDUCED(0 - 15%)

Business growth

60%

Fewer headcount

19%

Other*

7%


7%

Promotion

7%

* Market slowdown, etc.


64

SALES & marketing

Sales & Marketing

SALARY TAbLES

CONSuMER GOODSTier 1 INR LacsRoles 3 to 5 years 5 to 10 years 10 to 15 years > 15 years


Sales/Channel 20-25 22-27 25-60 27-65 45-100 50-100 80+ 80+

Brand Management /Product Management 20-25 22-27 25-60 27-65 45-100 50-100 N/A N/A

Trade Marketing 20-25 22-27 25-60 27-65 45-100 50-100 80+ 80+

Category Management N/A N/A 25-60 27-65 45-100 50-100 80+ 80+

Communications & CSR 15-18 17-20 18-40 20-45 30-50 35-55 50+ 50+

PHARMACEuTICALSTier 1 INR LacsRoles 3 to 5 years 5 to 10 years 10 to 15 years > 15 years


Sales 6-10 8-12 10-20 12-22 15-35 18-40 35+ 40+

Regulatory Affairs 6-10 8-12 10-20 12-22 15-25 16-28 25+ 28+

Brand Management 6-10 8-12 10-20 12-22 15-35 18-40 35+ 40+


Tier 2 INR LacsRoles 3 to 5 years 5 to 10 years 10 to 15 years > 15 years


Sales/Channel 12-15 13-18 15-35 17-40 30-50 35-60 40+ 45+

Brand Management /Product Management 15-18 18-22 18-40 20-45 25-45 30-50 N/A N/A

Trade Marketing 12-15 13-16 15-35 18-40 30-50 35-55 40+ 45+

Category Management N/A N/A 18-40 20-45 30-50 35-55 40+ 45+




Sales 4-6 5-8 6-15 10-18 15-25 15-30 25+ 30+

Regulatory Affairs 4-6 5-8 6-10 8-12 10-15 12-20 18+ 20+

Brand Management 4-6 5-8 6-15 10-18 12-20 15-30 25+ 30+


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. 3. FMCG - Tier 1: Candidates from premium Business Schools. Tier 2: Candidates coming from non top-tier Business Schools. 4. Healthcare & Life Sciences - Tier 1: Top global pharmaceutical medical devices company. Tier 2: Locally present Pharma/med devices company.


65

SALES & marketing

Sales & Marketing

SALARY TAbLES

MEDICAL DEvICESTier 1 INR LacsRoles 3 to 5 years 5 to 10 years 10 to 15 years > 15 years


Sales 8-12 10-15 10-25 14-28 25-50 30-55 50+ 55+

Marketing/ Brand Management / Product Management

6-15 8-18 12-25 15-30 25-50 30-55 50+ 55+

Regulatory Affairs/QA/RA 5-10 6-12 10-20 12-24 20-30 24-35 30+ 35+


Clinical/Application/Product Specialist 5-10 6-10 12-20 14-22 N/A N/A N/A N/A



Sales 4-8 5-10 8-15 12-18 15-30 18-35 30+ 30+

Marketing/ Brand Management / Product Management

4-8 5-10 8-15 10-18 15-25 18-30 25+ 30+

Regulatory Affairs/QA/RA 4-8 5-10 8-12 10-15 12-18 15-20 20+ 22+


Clinical/Application/Product Specialist 4-8 5-8 10-15 10-15 N/A N/A N/A N/A

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. 3. FMCG - Tier 1: Candidates from premium Business Schools. Tier 2: Candidates coming from non top-tier Business Schools. 4. Healthcare & Life Sciences - Tier 1: Top global pharmaceutical medical devices company. Tier 2: Locally present Pharma/med devices company.

Gurgaon

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t: +91 1244525500e: [email protected]

Mumbai

5th Floor, 2 North Avenue,Maker Maxity, Bandra-Kurla Complex, Bandra (E),Mumbai BKC 400051

t: +91 2242363300e: [email protected]

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Worldwide leaders in specialist recruitmentwww.michaelpage.co.in

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2014/15 india salary & employment forecast report

Recruiting & HR