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The FY22 India Salary Increments Benchmarking Study

  • ID: 5304976
  • Report
  • March 2021
  • Region: India
  • 107 Pages
  • IMA India
A Study of Trends in Compensation Structure and Salary Increments

The FY22 Increments Benchmarking Study aims to assess trends in salary increments and compensation budgets, by function and level of management, across companies. Over 220 organisations across a wide gamut of industries and of varying size and ownership participated in a survey on these issues, conducted in January 2021. The report provides data on parameters such as overall compensation budgets, the share of variable pay and increments across levels/functions.


Compensation budgets and Increments data is presented for each function (sales/marketing/customer service, business/operations/manufacturing, finance/treasury, HR, shared services, facilities/IT/administration) and management level (C-level, senior management, middle management, junior management, blue-collar workforce). Detailed data-splits are offered for each parameter by sector/sub-sector, revenue, ownership (foreign vs Indian), listing, domain (manufacturing vs services) and orientation (B2B vs B2C). Additionally, increments data is provided for talent groups (HiPos, top/average/low performers).


People Costs: Holding Steady


The report aims to offer actionable inputs for CHROs and other decision-makers towards their salary-related decisions for the coming financial year, and covers the following parameters:


  • Total people cost: As a percentage of total cost and total revenue for FY20 and FY21 and forecasts for FY22.
  • Compensation budgets by function: How have compensation budgets changed in the last financial year? What is the expected change next year?
  • Variable pay shares by function and management level: For FY21 (actual) and FY22 (anticipated).
  • Pay increments (FY20, FY21 and FY22 (anticipated) by
    • Function
    • Management level
    • Talent group (high potentials, and top/average/low performers)

Note: Product cover images may vary from those shown

1. Introduction and Overview


  • Introduction
  • Methodology and Definitions
  • Glossary of Terms
  • Company Demographics
  • Executive Summary

2. Compensation: Cost and Structures


  • People Cost as a % of Total Cost and Revenue: FY20, FY21, FY22
  • Change in Compensation Budgets by Function
  • Variable Pay as a % of CTC: FY21, FY22: By Function and Level

3. Trends in Increments


  • Salary Increments Planned in FY22: By Management Level and Function
  • Trends in Increments: By Function, Management Level and Talent Group
  • Increments, FY22: By Sector and Function; By Revenue/Ownership and Function; By Sector and Level; By Revenue/Ownership and Level; By Sector and Group and      By Revenue/Ownership and Group
  • Increments, FY21 and FY22: By FY Starting Month
  • Comp Budgets vs Increments
  • Average Midpoint-to-Market Delta: By Function and Management Level

4. Annexure: Detailed 7-way cross tabs by revenue, ownership, sector, domain, orientation, listing, etc.


Note: Product cover images may vary from those shown

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