New Delhi: India Inc's stalwarts might be competing well with their western counterparts in terms of business, revenues and growth. However, when it comes to paying the poor headcount—even the top CEOs hit the rock bottom of the remuneration hierarchy.
A new study says top managers of India Inc are paid nearly $30,000 a year less than their peers in the emerging BRIC countries (Brazil, Russia, India, and China).
After taking factors such as tax and cost of living into consideration, corporate India's top brass can boast of an average disposable income of just $92,750 compared to other fast growing economies like Brazil, Russia and China.
While Russian managers have a disposable income of $157,348, China has $126,281 and Brazil follows suit with $123,766 dollar, global management consultancy firm Hay Group's 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 at the 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," the World Pay Report said.
The top management of corporate India can expect better pay packets in the future, the report said adding "managers' pay is increasing at double-digit rates in India - between 15-20% - so it is unlikely to stay at the bottom of the pay table for long."
With inputs from PTI
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