India Inc CEOs lag behind BRIC peers
Corporate India's top brass boast of an average income of just $92,750 compared to Brazil, Russia and China.india Updated: Jul 26, 2007 15:11 IST
As the debate over the CEO salaries in the country continues, a new study says Indian top managers are paid nearly 30,000 dollars a year less than their peers in the emerging BRIC countries.
After factors such as tax and cost of living are taken into consideration, corporate India's top brass can boast of an average disposable income of just 92,750 dollar compared to other fast growing economies like Brazil, Russia and China (BRIC).
While Russia's managers stand tall with a disposable income of 157,348 dollar, China has 126,281 dollar and Brazil follows suit with 123,766 dollar, Global management consultancy firm Hay Groups latest World Pay Report said.
All the three BRIC nations except India managed to reserve their place in the top 20 countries listed by the World Pay Report, while India was way behind and managed 36th rank in the list of global pay stakes for 47 countries.
India's large base of skilled talent has made the management pay somewhat immune to the global market despite the impressive economic development in the country.
"India benefits from a large tier of well educated, English-speaking local talent, making management pay more immune to the international market," World Pay Report said.
The top management cadre of corporate India can expect better pay packet in the future the report said adding that 'managers pay is increasing at double-digit rates in India - between 15-20 per cent - so it is unlikely to stay at the bottom of the pay table for long.
The report compiled the detailed cross-country pay information. This report defined pay as total cash, which is equal to base salary plus any annualised short-term variable incentive.