Despite a booming economy and 9 per cent growth, chief executive officers (CEOs) in India are among the lowest paid in the Asia-Pacific region, a survey said on Monday. CEOs in South Korea are the highest paid, followed by their Hong Kong counterparts, Mercer Human Resource Consulting reported.
CEOs in India have an average base salary of $89,759 (Rs 36.8 lakh) and annual total cash of $111,510 (Rs 45.7 lakh) on average, the report said. By contrast, the average base salary for CEOs in South Korea amounts to $384,123 (Rs 1.57 crore). Cash compensation, including bonuses and other payments, adds another $568,502 (Rs 2.33 crore) on average.
CEOs in Hong Kong receive $250,707 (Rs 1.02 crore) in average base pay and $352,520 (Rs 1.45 crore) in average annual total cash.
“Compensation has long been driven by such factors as historic pay levels, size of economy and competition for talent,” Singapore’s Business Times quoted Mercer’s Steve Gross as saying.
“As companies become more globally mobile, they can shift some jobs to lower-cost locations. These new considerations will have a big impact on pay levels among countries,” he added.
The study covered 2,300 companies across the region.