Hi All,
I request your input. Please let me know what would be the percentage of salary hike for IT company staff for the year 2009, taking into account the current economic slowdown.
IT professionals - ?
Admin, Sales, Finance - ?
Your inputs would be of great help.
Thank You,
Sonia
From India, Bangalore
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I request your input. Please let me know what would be the percentage of salary hike for IT company staff for the year 2009, taking into account the current economic slowdown.
IT professionals - ?
Admin, Sales, Finance - ?
Your inputs would be of great help.
Thank You,
Sonia
From India, Bangalore
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SALARIES DURING 2009 WILL BE REDUCED DUE TO RECESSION ON OUR PLANET EARTH.:icon10: IF YOU ARE FROM VENUS OR MARS PLEASE LET US KNOW WHATS HAPPENING THEIR IN YOUR PLANNET?:-D BADLU
From Saudi Arabia
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15From Saudi Arabia
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Sonia,
In the current economic scenario, I guess most companies would be maintaining the same salary levels as in the year 2008. They may also try to reduce operational costs through effective cost management. Companies might explore alternative ways to recognize and reward outstanding and exemplary performers.
I work in an IT company and unfortunately, I don't see any pay hikes here :-(
- Payal
From India, Delhi
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In the current economic scenario, I guess most companies would be maintaining the same salary levels as in the year 2008. They may also try to reduce operational costs through effective cost management. Companies might explore alternative ways to recognize and reward outstanding and exemplary performers.
I work in an IT company and unfortunately, I don't see any pay hikes here :-(
- Payal
From India, Delhi
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For IT Professionals : Max Salary Hike can be 10 - 15 % (If Candidate is good score in interview )..... Other Domain : No Idea
From India, Bangalore
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From India, Bangalore
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Dear Sonia,
The salary hikes in IT firms currently depend mainly on the kind of business they are having, which includes the net earnings, profits, number of employees, and the performances of employees. Some companies have decided not to give any salary hikes to cope with the market downturn. Some have asked their employees to take a salary cut to avoid layoffs, while others are offering a hike of 7% to 15%. They mention that a 15% hike will be awarded to employees who have performed exceptionally well in their area of expertise.
For the Sales force, their performance appraisal would directly result from the targets achieved and businesses retained and acquired for the parent company. Generally, they have a percentage in their salary structure for financial targets achieved during the previous year.
For Admin and Finance, the hikes should be between 7% to 15% based on their output, effectiveness, and productivity.
Warm regards, Sourabh
From India, Delhi
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The salary hikes in IT firms currently depend mainly on the kind of business they are having, which includes the net earnings, profits, number of employees, and the performances of employees. Some companies have decided not to give any salary hikes to cope with the market downturn. Some have asked their employees to take a salary cut to avoid layoffs, while others are offering a hike of 7% to 15%. They mention that a 15% hike will be awarded to employees who have performed exceptionally well in their area of expertise.
For the Sales force, their performance appraisal would directly result from the targets achieved and businesses retained and acquired for the parent company. Generally, they have a percentage in their salary structure for financial targets achieved during the previous year.
For Admin and Finance, the hikes should be between 7% to 15% based on their output, effectiveness, and productivity.
Warm regards, Sourabh
From India, Delhi
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Ashok, your inputs would be helpful. I would also like to get information from our other friends in cite hr. Do you have any friends in the HR department in other IT companies? I am trying to get the contact numbers of such members so that I can interact with them directly on this. How do I get the contact numbers? Thanks, Sonia
From India, Bangalore
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From India, Bangalore
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Sourabh, A great help. Your help much appreciated. I am gathering inputs from other friends present here. How can I reach them.I have got only few response for this query of mine. Thanks Sonia
From India, Bangalore
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From India, Bangalore
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Hi sonia, with the present scenario all the companies are thinking abt cost cutting, some companies are dicreasing the salaries by 10 to 30 percent. with regards, Ramesh.V
From India, Hyderabad
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From India, Hyderabad
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First, try to save the jobs, then think of increments. The cost of living will go down as it was artificially and abnormally gone up during the past two years. As inflation goes down, salaries also need to be proportionately reduced because the real value of the job has also decreased.
Market correction takes place in all spheres of economics; HR is no different. The Indian job market prices will go down in the next two years by 50% because they were influenced by the demand and supply during the corresponding period of the market economic boom.
Badlu
From Saudi Arabia
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Market correction takes place in all spheres of economics; HR is no different. The Indian job market prices will go down in the next two years by 50% because they were influenced by the demand and supply during the corresponding period of the market economic boom.
Badlu
From Saudi Arabia
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Sonia,
The real situation to feel is to stick with the job and then think about the salary hike. Many IT professionals are currently concerned about layoffs and firings. Therefore, there may not be a salary increase; in fact, a decrease is possible during this downturn.
Regards, Harinath R
From India, Madras
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The real situation to feel is to stick with the job and then think about the salary hike. Many IT professionals are currently concerned about layoffs and firings. Therefore, there may not be a salary increase; in fact, a decrease is possible during this downturn.
Regards, Harinath R
From India, Madras
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Hi Sonia,
The increment percentage this year will go down compared to last year. Last year, the increment percentage was between 10-15%, and this year it's going to be anywhere between 7-10% for IT companies. Some IT companies may not give increments, and some companies may even opt for salary cuts. Additionally, some companies may take steps to lay off employees to sustain themselves in the current market scenario.
Regards,
Surendra
From India, Surat
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The increment percentage this year will go down compared to last year. Last year, the increment percentage was between 10-15%, and this year it's going to be anywhere between 7-10% for IT companies. Some IT companies may not give increments, and some companies may even opt for salary cuts. Additionally, some companies may take steps to lay off employees to sustain themselves in the current market scenario.
Regards,
Surendra
From India, Surat
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Hi Sonia,
Firstly, please update me on how well your company is performing. Secondly, is that necessary? Thirdly, survival... If you can endure this situation for 24 months, that's acceptable. Otherwise, consider planning for alternatives and making small incremental changes every six months. This will ensure that no projects are disrupted.
From India, Srikakulam
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Firstly, please update me on how well your company is performing. Secondly, is that necessary? Thirdly, survival... If you can endure this situation for 24 months, that's acceptable. Otherwise, consider planning for alternatives and making small incremental changes every six months. This will ensure that no projects are disrupted.
From India, Srikakulam
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Hi Sonia,
Due to recession, companies are now opting for cost-cutting to cope with the present scenario. You can expect the hikes to be in single digits, based on the business the companies are in. Some companies that might have been badly affected by the recession (tsunami) might opt for pay cuts instead of hikes.
Regards,
Vamsi:)
From India, Hyderabad
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Due to recession, companies are now opting for cost-cutting to cope with the present scenario. You can expect the hikes to be in single digits, based on the business the companies are in. Some companies that might have been badly affected by the recession (tsunami) might opt for pay cuts instead of hikes.
Regards,
Vamsi:)
From India, Hyderabad
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Hello to all!! I am working for a reputed firm in the service sector in the areas of consultancy and audits. In our firm, (Co.????), even our quarterly reimbursements are postponed to half-yearly payments (that means 6 months + 2 or 3 months) for receiving actual payment. Further, leave encashments for 2008 are canceled. In this scenario, I don't think one should be positive about a great salary hike in a firm like ours. Anyway, hope for the best, prepare for the worst!! God bless!! Bye and good day to all, Meghana.
From India, Mumbai
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From India, Mumbai
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Dear Sonia,
Looking at the current market scenario, salary hikes are not being considered in many companies. The main focus is to have control over operational costs, and instead of resorting to layoffs, companies are exploring ways to retain current employees within the existing budget.
Nowadays, every individual is aware of the situation and is understanding towards the salary issues. Most people will be content knowing they are not facing layoffs. Exceptional performers or employees with lower salaries, such as trainees, may receive a raise based on the company's situation and the employee's performance.
Thanks and regards,
Sonal Mahajan
Dear Sonia,
The salary hikes in IT firms currently depend largely on the type of business they are engaged in, including net earnings, profits, number of employees, and employee performance.
Some companies have opted not to provide any salary increases to navigate the market downturn, while others have requested employees to take a salary cut to avoid layoffs. Some companies are offering hikes ranging from 7% to 15%, with a 15% raise reserved for employees who have excelled in their respective fields.
For sales teams, performance appraisals are directly tied to achieved targets and business acquisition and retention for the parent company. Typically, they have a performance-based component in their salary structure.
For administrative and finance roles, salary increases should be in the range of 7%-15%, based on output, effectiveness, and productivity.
Warm regards,
Sourabh
From India, Pune
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Looking at the current market scenario, salary hikes are not being considered in many companies. The main focus is to have control over operational costs, and instead of resorting to layoffs, companies are exploring ways to retain current employees within the existing budget.
Nowadays, every individual is aware of the situation and is understanding towards the salary issues. Most people will be content knowing they are not facing layoffs. Exceptional performers or employees with lower salaries, such as trainees, may receive a raise based on the company's situation and the employee's performance.
Thanks and regards,
Sonal Mahajan
Dear Sonia,
The salary hikes in IT firms currently depend largely on the type of business they are engaged in, including net earnings, profits, number of employees, and employee performance.
Some companies have opted not to provide any salary increases to navigate the market downturn, while others have requested employees to take a salary cut to avoid layoffs. Some companies are offering hikes ranging from 7% to 15%, with a 15% raise reserved for employees who have excelled in their respective fields.
For sales teams, performance appraisals are directly tied to achieved targets and business acquisition and retention for the parent company. Typically, they have a performance-based component in their salary structure.
For administrative and finance roles, salary increases should be in the range of 7%-15%, based on output, effectiveness, and productivity.
Warm regards,
Sourabh
From India, Pune
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Hi, Sonia,
There is no hike in my company as of now (an IT product company). We may decide to, in fact, cut costs if the cost-saving measures being undertaken do not yield the desired results. The prevailing sentiment in the company is against salary cuts, but if it becomes unavoidable, we will have to resort to them. It's not a good HR practice, but we may not have a choice.
Regards,
Neeraj
From India, Mumbai
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There is no hike in my company as of now (an IT product company). We may decide to, in fact, cut costs if the cost-saving measures being undertaken do not yield the desired results. The prevailing sentiment in the company is against salary cuts, but if it becomes unavoidable, we will have to resort to them. It's not a good HR practice, but we may not have a choice.
Regards,
Neeraj
From India, Mumbai
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Thanks Sonal, Neeraj, Surendra, Vamsi, Uday, Harinath & Ramesh. Look forward to more inputs from other friends. Which are the sectors not affected by economy slowdown.Example - IT is most affected.
From India, Bangalore
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From India, Bangalore
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Sonia, As far as now the telecom sector seems to be good and worthy for a while. Regards, Harinath R
From India, Madras
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From India, Madras
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Dear Sonia,
Looking at the current market scenario, there won't be any hike for senior levels, but to retain lower-level employees, we have to give hikes. The most affected industries are IT, Banking, Retail, etc.
Most companies are likely to tighten the screws on performance. This may entail longer work hours, work that is not of your choice, and lower tolerance towards non/weak performance.
With organizations cutting down on their expansion plans or facing lower business growth, forget about the promotion you were expecting.
More and more organizations will adopt the Jack Welch model of purging the bottom 10 percent (asking the bottom performers to go). In some sectors, such as retail, realty, textiles, and apparel, this figure may be higher.
Don't be surprised if you are suddenly transferred to a department/location that is not of your choice.
Companies are likely to have a conservative approach to percentage increments, and some sectors could see single-digit increments.
Employees in the top quartile of performers in their organization may earn similar increases to previous years. However, the rest may see a drop in percentage increments. We are likely to see a few cases of 'increment holidays' and isolated instances of pay reductions.
Variable bonuses will be subdued, but sales employees may see stronger incentive schemes since organizations will try hard to shore up their revenues.
The silver lining in all this is that with organizations going slow on external hiring, they will look for internal candidates. The external job market will also contract, but that does not mean there will be no job opportunities. Job opportunities will largely be fueled by employee attrition/turnover.
The demand for freshers will see an acute drop. The practice of fat signing-on bonuses is likely to be suspended. Largely, it is going to be a clear case of higher supply and lower demand. The only exception in the external job market is going to be for the 'star performers'.
Here are some pointers for those of us who will be impacted by the above scenario:
The first priority should be to secure your job and ensure that your name does not figure in the list of outplaced employees. Pull up your socks and ensure that you do not belong to the bottom quartile of performers.
Be patient. Do not get upset at the lower increment or delayed promotion.
Be extra cautious when making a decision to change jobs. Unless the reason is compelling, you are possibly better off staying in your current organization. If you do choose to make a change, negotiate hard with your new employer for a good hike and, if possible, a 'parachute mechanism' in case you are a victim of a layoff in the first year of your joining. This means you must be given 3-6 months' compensation in case you are laid off.
If you are in one of the highly volatile industries (retail, realty, finance, or banking) and feel that your organization is showing signs of vulnerability, proactively scan the external job market.
If you get an opportunity with a more reliable and stable brand, make the shift (even at the same salary). Look for signs of distress in your organization (delayed salaries, vendors not being paid, senior managers leaving).
In your existing organization, take a lot of initiative and be seen as a solid contributor in your team. If you have time, upgrade your skills. Try to be in the good books of your boss without compromising your conscience.
Salaried professionals have to wake up to the reality of what a downturn really means and 2009 is going to showcase enough of it. So far, the situation is not as severe as to drop the 'oxygen masks', but yes, the 'seat belt' sign has been switched on.
From India, Mumbai
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Looking at the current market scenario, there won't be any hike for senior levels, but to retain lower-level employees, we have to give hikes. The most affected industries are IT, Banking, Retail, etc.
Most companies are likely to tighten the screws on performance. This may entail longer work hours, work that is not of your choice, and lower tolerance towards non/weak performance.
With organizations cutting down on their expansion plans or facing lower business growth, forget about the promotion you were expecting.
More and more organizations will adopt the Jack Welch model of purging the bottom 10 percent (asking the bottom performers to go). In some sectors, such as retail, realty, textiles, and apparel, this figure may be higher.
Don't be surprised if you are suddenly transferred to a department/location that is not of your choice.
Companies are likely to have a conservative approach to percentage increments, and some sectors could see single-digit increments.
Employees in the top quartile of performers in their organization may earn similar increases to previous years. However, the rest may see a drop in percentage increments. We are likely to see a few cases of 'increment holidays' and isolated instances of pay reductions.
Variable bonuses will be subdued, but sales employees may see stronger incentive schemes since organizations will try hard to shore up their revenues.
The silver lining in all this is that with organizations going slow on external hiring, they will look for internal candidates. The external job market will also contract, but that does not mean there will be no job opportunities. Job opportunities will largely be fueled by employee attrition/turnover.
The demand for freshers will see an acute drop. The practice of fat signing-on bonuses is likely to be suspended. Largely, it is going to be a clear case of higher supply and lower demand. The only exception in the external job market is going to be for the 'star performers'.
Here are some pointers for those of us who will be impacted by the above scenario:
The first priority should be to secure your job and ensure that your name does not figure in the list of outplaced employees. Pull up your socks and ensure that you do not belong to the bottom quartile of performers.
Be patient. Do not get upset at the lower increment or delayed promotion.
Be extra cautious when making a decision to change jobs. Unless the reason is compelling, you are possibly better off staying in your current organization. If you do choose to make a change, negotiate hard with your new employer for a good hike and, if possible, a 'parachute mechanism' in case you are a victim of a layoff in the first year of your joining. This means you must be given 3-6 months' compensation in case you are laid off.
If you are in one of the highly volatile industries (retail, realty, finance, or banking) and feel that your organization is showing signs of vulnerability, proactively scan the external job market.
If you get an opportunity with a more reliable and stable brand, make the shift (even at the same salary). Look for signs of distress in your organization (delayed salaries, vendors not being paid, senior managers leaving).
In your existing organization, take a lot of initiative and be seen as a solid contributor in your team. If you have time, upgrade your skills. Try to be in the good books of your boss without compromising your conscience.
Salaried professionals have to wake up to the reality of what a downturn really means and 2009 is going to showcase enough of it. So far, the situation is not as severe as to drop the 'oxygen masks', but yes, the 'seat belt' sign has been switched on.
From India, Mumbai
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Above all, I agree to Sourabh, Payal and Badlu as well for their postings. Regards, Sheetal
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Hi Viren Doshi,
Thank you for taking the time to post such valuable information about the current market scenario and, most importantly, focusing on ways to tackle the current situation.
I felt that the message posted covers most of the aspects that the present market is facing. It not only gives us insight but also prepares us for what can possibly happen in companies that have not been affected by the recession until now.
It would be great if everyone could read his article.
Once again, thank you for sharing it with us.
Regards,
Rakesh
From India, Secunderabad
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Thank you for taking the time to post such valuable information about the current market scenario and, most importantly, focusing on ways to tackle the current situation.
I felt that the message posted covers most of the aspects that the present market is facing. It not only gives us insight but also prepares us for what can possibly happen in companies that have not been affected by the recession until now.
It would be great if everyone could read his article.
Once again, thank you for sharing it with us.
Regards,
Rakesh
From India, Secunderabad
Acknowledge(0)Amend(0)Sonia,
Agree with the comments shared by colleagues on the increments % which would be mostly a single digit or in a double digit based on the following :
- Purely on the project based performance and ROI.
- Industry norms/practices on increment percentages/ slabs (so that you are in synch with competitors and not lose retainable talent)
- Paying capacity of your Company (how large is it, how much is it affected by the current recession, the sector/industry you are in (some sectors are more badly affected), Govt. sops/stimulus packages to prop up your sector, financial turnaround plans)
- Financials - networth/cash- funds flow situation/free reserves
- Mission critical projects that would need retention of key personnel/technical hands
- Mindset of your top management
Frankly, some Companies within a sector may do away with any increments this year (ie employees may barely save their jobs) due to lack of projects/business/ business sustainability issues while some may accord a 5% increase to keep afloat the motivation levels.
This all will depend on the dynamics of the business situation of your Company at the moment - a situation internally best known to you. The mindset of the management is another factor that would dictate this issue.
The era of 20 to 40% increments are passe even for those high flyers in the sunrise industries like IT, BPO, Finance, Insurance, etc. Even the boom in the real estate/infrastructure sector of the recent past is pretty much passe as they are just able to stay afloat.
Progressive companies would delay the increments by two or three months depending upon the market conditions but they have to award the performers or sooner or later otherwise they would lose credibility and they would be prone to be poached by the competitors. This situation would put them in a discomforting situation one once the market improves. Here what is important is the clarity in the Employee communications by the Management to dispel the fears and rumours which paint the picture dim than the reality!.
The industries which are not affected badly are the SMEs and those who are fundamentally strong in Operations and command sizeable market share and innovative products.
However, the situation is not that bad as made out in the following above discussions..please refer to the link herein;
http://spartanvikas.wordpress.com/20...-in-recession/
To sum it up today’s times is a certainly challenge for HR.
This is not a moment to despair but to upgrade oneself and prepare for the future. We have been experiencing the good times for quite sometime and this shall pass soon.
Regards,
Rajat
From India, Pune
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Hi Rajat,
Thank you for your inputs. We are a US MNC with low manpower but high turnover, an IT product company. Our India office is requesting our headquarters for a hike for the India employees. The number of employees in India is also less. It is yet to be decided whether we will get a hike.
Do you have any articles or facts, statistics to substantiate that some companies are giving at least a 5% hike to their employees in India? I need to provide the document to my Country Head so that a decision at a CEO (US) level can be made. If you have any article to show the comparison of hike between IT and other sectors in India, that would also be helpful. I gave my Boss my inputs after discussing with my industry friends, but he wants any document or article that can substantiate this for proof, which would be helpful in convincing the senior management.
Your fast response would be appreciated.
Thanks,
Sonia
From India, Bangalore
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Thank you for your inputs. We are a US MNC with low manpower but high turnover, an IT product company. Our India office is requesting our headquarters for a hike for the India employees. The number of employees in India is also less. It is yet to be decided whether we will get a hike.
Do you have any articles or facts, statistics to substantiate that some companies are giving at least a 5% hike to their employees in India? I need to provide the document to my Country Head so that a decision at a CEO (US) level can be made. If you have any article to show the comparison of hike between IT and other sectors in India, that would also be helpful. I gave my Boss my inputs after discussing with my industry friends, but he wants any document or article that can substantiate this for proof, which would be helpful in convincing the senior management.
Your fast response would be appreciated.
Thanks,
Sonia
From India, Bangalore
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Hi Sonia,
We are in the same boat as you are, though not in the IT sector but in manufacturing. Perhaps this report may help, and as mentioned in my post, it's your management in India that has to take a call and a stance with the above arguments.
Regards,
Rajat
[GroundReport | India | Survey predicts lower salary hikes in 2009](http://www.groundreport.com/Lifestyle/Survey-predicts-lower-salary-hikes-in-2009)
From India, Pune
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We are in the same boat as you are, though not in the IT sector but in manufacturing. Perhaps this report may help, and as mentioned in my post, it's your management in India that has to take a call and a stance with the above arguments.
Regards,
Rajat
[GroundReport | India | Survey predicts lower salary hikes in 2009](http://www.groundreport.com/Lifestyle/Survey-predicts-lower-salary-hikes-in-2009)
From India, Pune
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Dear Sonia,
It's highly unpredictable to comment on the salary hike. We can analyze all market situations, company sales, and business contracts, etc.
The salary increment in the IT department is only 15-20 percent for all departments, including hardware & networking or the software industry. For Finance, there is a 25-30 percent hike in sales, and in Insurance, it is around 30 percent. During a recession, the only booming industries are Insurance and the Pharma sector.
Thanks & regards,
Shruti
CMS HR
From India, Mumbai
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It's highly unpredictable to comment on the salary hike. We can analyze all market situations, company sales, and business contracts, etc.
The salary increment in the IT department is only 15-20 percent for all departments, including hardware & networking or the software industry. For Finance, there is a 25-30 percent hike in sales, and in Insurance, it is around 30 percent. During a recession, the only booming industries are Insurance and the Pharma sector.
Thanks & regards,
Shruti
CMS HR
From India, Mumbai
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Hi,
The information posted is useful but not exhaustive. I am also working on analyzing the trend of increments.
I am looking for contacts of HR in IT companies with a strength of 325-350 people. The companies would preferably be in Product Engineering and OPD streams. Please let me know about such contacts.
Regards,
Varsha
From India, Mumbai
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The information posted is useful but not exhaustive. I am also working on analyzing the trend of increments.
I am looking for contacts of HR in IT companies with a strength of 325-350 people. The companies would preferably be in Product Engineering and OPD streams. Please let me know about such contacts.
Regards,
Varsha
From India, Mumbai
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Hi,
Can I know what kind of questions are expected from the employees after we give them a hike that is less than their expectations? This is an urgent query to be solved.
Can I have a reply in an hour?
Thanks & Regards,
Rajani
From India, Delhi
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Can I know what kind of questions are expected from the employees after we give them a hike that is less than their expectations? This is an urgent query to be solved.
Can I have a reply in an hour?
Thanks & Regards,
Rajani
From India, Delhi
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Hi Sonia,
I am heading the HR & Admin of an IT Infotech product company. As a guideline, the cash flow will dictate the hikes to the employees. If the cash flow is restricted, then only an inflationary hike of 5 to 7% can be granted. However, those employees who are business-critical are compensated more with some perks thrown in (even though FBT has been removed). Therefore, if the company is making profits and signing new clients, the hike could be approximately 10%, with minor variations for high performers.
My Mobile Number is 9867685524, and I will be able to answer any other queries as well.
Regards,
Neeraj Bharadwaj
From India, Mumbai
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I am heading the HR & Admin of an IT Infotech product company. As a guideline, the cash flow will dictate the hikes to the employees. If the cash flow is restricted, then only an inflationary hike of 5 to 7% can be granted. However, those employees who are business-critical are compensated more with some perks thrown in (even though FBT has been removed). Therefore, if the company is making profits and signing new clients, the hike could be approximately 10%, with minor variations for high performers.
My Mobile Number is 9867685524, and I will be able to answer any other queries as well.
Regards,
Neeraj Bharadwaj
From India, Mumbai
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Salary hike projection.doc